VOLA Meaning and
Definition
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VOLA is an acronym that stands for "Value of Lost Asset." It is a financial term used to describe the estimated worth of an asset that has been lost or damaged due to a specific event or circumstance.
The Value of Lost Asset is a calculation commonly used in insurance claims, litigation cases, or when determining financial losses. It helps in assessing the monetary value of the asset that has been adversely affected. Various factors are taken into consideration when determining the VOLA, including the market value of the asset before the incident, the degree of damage or loss incurred, depreciation, repair costs, and potential income or profit loss resulting from the event.
The VOLA is important for insurance companies, as it helps determine the amount of compensation or benefits that should be provided to policyholders. It also assists courts or dispute resolution bodies in settling claims and making fair judgments. Additionally, businesses or individuals may use the VOLA to evaluate the financial implications of the damage or loss and make informed decisions on repairs, replacements, or pursuing legal actions.
Overall, VOLA is a crucial financial measure used to quantify the value of an asset that has been lost or damaged, providing a basis for determining compensation and assessing financial implications resulting from such incidents.
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Palm of the hand or sole of the foot.
A practical medical dictionary. By Stedman, Thomas Lathrop. Published 1920.
Common Misspellings for VOLA
- v0la
- vlola
- vpola
- vopla
- v0ola
- vo0la
- vo9la
- volaw
- volqa
- volaq
- vvola
- volaa
- v ola
- vo la
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