question_answer

Consider the following statement

I. Insurance is denned as "the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a reasonable fee".

II. Function of insurance is to provide protection from probable chances of loss.

III. It assists in capital formation.

Which of the statement(s) given above is/are correct?

A)  I and II                                    

B)  II and III

C)                     I and III                                   

D)  All of these