The organizations in which the ownership and control of operations are vested in the policyholders are known as:
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A. B. C. D.D
The correct answer to the question is D. Mutual entities.
A mutual entity is a type of organization where the ownership and control of operations are vested in the policyholders or members of the entity. These policyholders or members are entitled to share in any profits of the organization in proportion to their participation. Mutual entities are often used in the insurance industry, where they are known as mutual insurance companies.
In a mutual insurance company, policyholders are also members of the company, and they have a say in the company's operations through the right to vote on important issues such as the election of directors. The company is run for the benefit of its policyholders, with any profits being distributed to them in the form of dividends or reduced premiums.
Reciprocal entities (option C) are a type of unincorporated mutual insurance company. They are organized under an agreement in which each member agrees to indemnify the other members against losses. The members of a reciprocal entity are known as subscribers, and they share in the profits and losses of the entity.
Private entities (option A) are organizations that are owned and controlled by private individuals or groups. They can take many different forms, such as sole proprietorships, partnerships, or corporations.
Public entities (option B) are organizations that are owned and controlled by the government. These can include federal, state, or local government agencies, as well as public schools, libraries, and hospitals.
In summary, the organizations in which the ownership and control of operations are vested in the policyholders are known as mutual entities. They are a type of organization commonly used in the insurance industry, where policyholders are also members of the organization and share in any profits.