Assets which does not carry more than normal risk attach to business and no provision in required to be made against such assets are called

Related MCQs

• Business concern often suffer …………… due to different reasons .such as fire, theft, flood, strike, etc
• Banks shown provision for income tax under the head ……………….
• The consideration in insurance for covering the risk is called………….
• The account opened to close the various assets and liabilities of the firm on dissolution is called ------------- account
• At the time of calculating insurance claim , the average clause is ………………. If the value of stock at the date of fire was more than the policy value.
• The insurance indemnifies the insured any loss of profit arising from interruption of the normal activity
• Reserve for unexpired risk is shown under :
• ……………. Is the party who undertakes the risk in insurance
• The party whose risk is covered in insurance is known as
• ……………. Is an arrangement between two insurance companies whereby one transfers a part of risk to other .