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oa. In their policy, the word "you" includes Mike Hall, Rhonda Hall, and Porcine Bank. ob. In their policy, the word "you" refers only to Mike Hall. OC Mike and Rhonda Hall are both named insureds. od. Mike Hall is the only named insured.

oa. In their policy, the word "you" includes Mike Hall, Rhonda Hall, and Porcine Bank. ob. In their policy, the word "you" refers only to Mike Hall. OC Mike and Rhonda Hall are both named insureds. od. Mike Hall is the only named insured.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. Mike and Rhonda Hall recently purchased a homeowners policy on the home they purchased after their recent honeymoon. The mortgage is in Mike's name because his salary alone was high enough to qualify for their mortgage with Porcine Bank, and their homeowners policy identifies Mike Hall as the named insured. Which one of the following statements concerning this policy is correct? oa. In their policy, the word "you" includes Mike Hall, Rhonda Hall, and Porcine Bank. ob. In their policy, the word "you" refers only to Mike Hall. OC Mike and Rhonda Hall are both named insureds. od. Mike Hall is the only named insured.
Transcribed Image Text:4. Mike and Rhonda Hall recently purchased a homeowners policy on the home they purchased after their recent honeymoon. The mortgage is in Mike's name because his salary alone was high enough to qualify for their mortgage with Porcine Bank, and their homeowners policy identifies Mike Hall as the named insured. Which one of the following statements concerning this policy is correct? oa. In their policy, the word "you" includes Mike Hall, Rhonda Hall, and Porcine Bank. ob. In their policy, the word "you" refers only to Mike Hall. OC Mike and Rhonda Hall are both named insureds. od. Mike Hall is the only named insured.
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