Business Studies, asked by avnichopra987, 7 months ago

It is a social device providing financial compensation for the effects of

misfortune, the payments being made from the accumulated contributions of all

parties participating in the scheme. Identify the statement by explaining its principles.
​

Answers

Answered by govindbehwal33
0

Explanation:

Hancsell : Insurance may be defined as a social device providing financial compensation for the effects of misfortune, the payments being made from the accumulated contribution of all parties participating in the scheme.

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