Insurance regulation and development authorities act came into effect in

Related MCQs

• The P&L A/c of Banking Companies are prepared as per ………of Banking Regulation Act.
• Income tax authorities recognize this method ___
• L of Lucknow consigned goods costing ` 60,000 to A of Allahabad at an invoice price bearing 331/3 % mark up on the cost price. Goods costing ` 15,000 were damaged in the transit and the insurance company admitted the claim in full. Expenses incurred by the consignor on loading and transportation of the goods amounted to ` 1,800. The consignee incurred ` 200 on cartage and ` 6,000 as Godown Rent and sold 2/3 of the goods received by him at the invoice price. He is entitled to 5% normal commission and 2.5% del credere commission. Find the value of goods sold
• An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-. What would be the effect on the total asset and total liabilities in the balance sheet?
• AB Ltd. has signed at 31st December, 2017 the Balance Sheet date, a contract where the Total Revenue is estimated at ` 15 Crores and Total Cost is estimated at ` 20 Crores. No work began on the contract. Is the Contractor required to give any accounting effect for the year ended 31st December, 2017?
• Profit and Loss Account of General Insurance Companies are prepared in …………
• Goods in stock worth ` 800 are destroyed by fire and the Insurance Co. is accepted the claim for ` 600. Adjustment would involve:
• With effect from 31/03/2005, a doubt full asset is none which has remained in the substandard category for
• Single Entry system has effect:
• If Office Equipment is purchased for cash, what effect will this transaction have on the financial position of the company?