BECE Business Studies 2024 Objective — Question 22
Question 22 of 120 from the Basic Education Certificate Examination (Junior WAEC) (BECE) Business Studies 2024 Objective paper, with the correct answer and a full explanation.
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The principle of insurance which states that the insured should be compensated at the event of a loss is ______.
- A. contribution
- B. indemnityCorrect
- C. insurable interest
- D. proximate cause
- E. subrogation
Explanation
Indemnity restores the insured to the former position.
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