Question

Partial destruction of business or rental property and for partial or complete destruction of personal use property

A) Depreciation
B) Amortization
C) Insurance proceeds
D) Capital expenditure

Answer 1

Insurance proceeds

Step-by-step explanation:

In the case of partial destruction of business or rental property and partial or complete destruction of personal use property, the appropriate term is Insurance proceeds. Insurance proceeds refer to the money received from an insurance company to cover the cost of damage or loss to the insured property.