Which of the type of insurance pays benefits to workers who suffer an injury on the job? Select the correct answer below: deposit insurance pension insurance O workman's compensation insurance none of the above

Which of the type of insurance pays benefits to workers who suffer an injury on the job? Select the correct answer below: deposit insurance pension insurance O workman's compensation insurance none of the above

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter6: Analysing And Journalizing Payroll

Section: Chapter Questions

Problem 16QR

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Question

Which of the type of insurance pays benefits to workers who suffer an injury on the job?
Select the correct answer below:
deposit insurance
pension insurance
O workman's compensation insurance
none of the above

Expert Solution

Step 1

Insurance is an agreement in which an individual or organization obtains financial security or compensation from an insurance firm in the form of a policy. The firm pooled the risks of its clients to make premiums more reasonable to the insured. Insurance policies are often meant to protect against the possibility of large and tiny financial losses resulting from damage to the insured's properties or liabilities for damage or injury to a third party.

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