The amount paid by insured to insurer as a consideration is known as premium.

Related MCQs

• Insured standing charges are the --------------
• Due to the inclusion of average clause in the fire insurance policy , an insured becomes a……………….in the event of under insurance.
• A fire policy covers loss of or damaged to insured property.
• If Net Profit is Rs. 200000 Insured Standing Charges is Rs. 160000 Sales of The Previous year is Rs. 1800000 Then Gross Profit Rate will be…………
• If Net Profit is Rs. 400000 Insured Standing Charges is Rs. 320000 Sales of The Previous year is Rs. 3600000 Then Gross Profit Rate will be…………
• Interest paid and payable comes to the……………side of the profit and loss account.
• Actual petty expenses paid by branch from petty cash are to br shown separately in Branch Account.
• Recoverable amount of an asset isof selling price and value of an assets in use.
• 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 ……………