Which of the following is not a fact on which the concept of insurance is based? a.

Question:

Which of the following is not a fact on which the concept of insurance is based?

a. It is difficult for a business to predict whether it will have specific losses or the amount of those losses.

b. Many businesses face the same type of perils.

c. Insurance companies can accurately estimate the probability of certain types of losses.

d. Insurance companies insure against both predictable and unpredictable losses.

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