Insurance is a financial service for collecting the saving of the public and providing them with a risk of a coverage.

Related MCQs

• The Insurance Company cannot prevent the happening of risk but provide for losses at the happening of risk.
• …………….reporting helps uses of financial statements to better assess the risk and t returns of the enterprise.
• Due to the inclusion of average clause in the fire insurance policy , an insured becomes a……………….in the event of under insurance.
• General insurance business in India is transacted by Life Insurance Corporation of India.
• The online version of collecting tax was introduced in the year…………
• As per AS-19 …………nlease risk and reward is not transferred to the lessee.
• A business takes a……………insurance policy to cover the claims for loss of stocks and loss of profit.
• If value of Insurance Policy is 21000, Stock on date of Fire is 24000 and Loss of stock is 20000 then Amount of Claim for stock will be ……………
• If value of Insurance Policy is 31500, Stock on date of Fire is 36000 and Loss of stock is 27000 then Amount of Claim for stock will be ……………
• If value of Insurance Policy is 63000, Stock on date of Fire is 72000 and Loss of stock is 54000 then Amount of Claim for stock will be ……………