Multiple Choice
The primary functions of accounting are to:
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Types of Accounting
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Within the context of types of accounting, who is primarily responsible for assembling policy forms for insureds?
A
Insurance underwriter
B
Tax auditor
C
Cost accountant
D
Financial accountant
Verified step by step guidance1
Understand the context of the question: The problem is asking about the role responsible for assembling policy forms for insureds, which is related to the insurance industry rather than traditional financial accounting roles.
Identify the roles listed in the options: Insurance underwriter, Tax auditor, Cost accountant, and Financial accountant. Each of these roles has distinct responsibilities.
Clarify the role of an Insurance Underwriter: An insurance underwriter evaluates risks and determines the terms and conditions of insurance policies, including assembling policy forms for insureds. This aligns with the task described in the question.
Explain why the other roles are not correct: A Tax Auditor focuses on reviewing tax filings for compliance, a Cost Accountant deals with cost analysis and budgeting within a company, and a Financial Accountant prepares financial statements and reports. None of these roles involve assembling policy forms for insureds.
Conclude that the correct answer is 'Insurance underwriter' based on the responsibilities associated with this role.
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