Building with a fair market value


Hart owned a building with a fair market value of 400,000. The building was covered by a 300,000 fire insurance policy containing an 80% coinsurance clause. What amount would Hart recover if a fire totally destroyed the building?

A) 0

B) 240,000

C) 300,000

D) 400,000

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Building with a fair market value
Reference No:- TGS090445

Expected delivery within 24 Hours