Payments Made on Claims Should Be

Payments made on claims should be:

A) always treated as an expense for the period in which the payment is made.
B) only treated as an expense in the period if the claim is also settled in that period.
C) used to reduce the liability for claims settled in previous periods.
D) only treated as an expense in the period if the claim is also settled in that period and used to reduce the liability for claims settled in previous periods.

Correct Answer:

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