WAEC - Commerce (2016 - No. 22)
the worth of a life assurance policy before its maturity date is?
residual value
surrender value
accrued value
assured value
Paliwanag
Residual value insurance helps companies manage asset value risk by guaranteeing that a properly maintained asset will have a specified value at a future date. Residual value insurance is used to guarantee the value of an asset at a specific date in the future.