When policy matures on the death of the insured, it is expressed as

Related MCQs

• . ………..is the amount payable to the insured on the happening of event.
• Under the average clause, the loss is suffered by both insurer and insured in the ratio of risk covered Sol:
• Transaction& events not capable of being expressed in terms of money are not to be recorded in accounting due to
• In …………., the insurer agrees to pay a certain sum of money to the policyholder either on his death or a certain age, which ever is less.
• Insurance business in India is regulated by …………. A. LIC B. IRDA C. RBI D. SEBI 193. Under …………., the sum assured is given to the beneficiary only on death of policyholder.
• The policy of anticipate no profit and provide for all possible losses arises due to
• The premium paid on the life policy of the proprietor is debited to
• A firm has a policy of changing depreciation on Plant and Machinery @ 10% under WDV Method. If the book value of Plant and Machinery was ` 81,000 on 31.03.2013. Find the original cost of the plant if the same was purchased on 01.04.2011
• Any change in the accounting policy relating to inventories which has a material effect in the current or later periods should be disclosed. This is in accordance with the accounting principle of:
• The main objective of average clause contained in a fire insurance policy is to