The answer should be B. States.
Answer:
The Correct answer is B.
Explanation:
A Producer in an Insurance Company is a Consultant to members of the public in need of Insurance. A Producer is a professional Insurer/Agent who goes to markets and brokers to trade for the insured.
One of the duties of a producer is to ensure that he acts in fiduciary when handling premiums and applications for the insured. Other duties include; to monitor the increase in sales on behalf of existing clients, a Producer should be innovative by bring up new strategies to improve its clientele etc.
Fiduciary mean to " act in good faith". A Producer should always act in good faith by representing the interest of the insured at all times and to carefully monitor insurance policies.
Answer:
This is known as Revenue recognition principle
Explanation:
Revenue recognition principle is an accepted principle in the field of accounting that helps to identify particular situations in which revenue is recognized and further determine how the revenue can be accounted for. Normally, you only recognize a revenue when the event has taken place, which means that it is recognized when the amount spent can be measured to the company. Since in December, it is not possible for the sod to be installed, it is only correct to record this revenue in March when the installation has taken place.
