Final answer:
A complete fire and EC policy on a commercial building consists of basic fire coverage, statutory conditions mandated by law, and Extended Coverages like windstorm and vandalism.
Step-by-step explanation:
The question relates to the components of a complete fire and EC policy on a commercial building. A complete policy typically includes basic fire coverage which protects against the loss from fires, lightning, and the removal of property if a fire is imminent. The policy then adds the 'EC' or Extended Coverage which can cover additional perils like windstorm, hail, explosion, riot, aircraft, vehicles, smoke, and vandalism. Lastly, statutory conditions refer to the set of conditions which are mandated by law to be part of every insurance policy to ensure fair practice and standards. Therefore, the correct element of such a policy would likely be a) Basic fire, statutory conditions and Extended Coverage's.