Question
Great Insurance Co. Ltd. on 31.12.2022 had reserve for
unexpired risk of 5 crores in respect of miscellaneous business. During 2023, the premium collected in respect of policies issued 9 crores. Pass journal entry.Solution
Unexpired Risks Reserve A/c Dr. 0.50 To Miscellaneous Revenue A/c 0.50 According to the requirements of the Insurance Act, it is sufficient if the provision is made for unexpired risks at: 50 per cent for Fire, Marine Cargo and Miscellaneous business; 0.50 crore being the excess of opening balance of 5 crores over the required closing balance of 4.5 crores [(12 + 4 – 7) * 50%] credited to miscellaneous revenue account).
Read the given statements and conclusions carefully and decide which of the conclusions logically follow(s) from the statements.
Statements:
Statements:All circles are rectangles.
No rectangle is a square.
Conclusions:I. No square is a rectangle.
II. Some rectangles are...
Statements:
No brinjal is a cauliflowerÂ
All cauliflower are cabbageÂ
Some spinach are cabbageÂ
Conclusions:
...
Statements:
No dollar is peso.
All peso is pound.
Only a few pound is euro.
Conclusions:
I. No pound is dollar.
II. Mostly peso is euro.
Statements:
No Bed is Table
No Table is Sofa
All Sofa is Chair
Some Chair is Almirah
Conclusions:
I. No B...
Read the following statements and conclusions carefully. Assuming the information given in the statements is true, even if it appears to be at variance...
Statements:Â
Only a few Towels are Showers.
All Showers are Garments.
No Garment is a Material.
Conclusions:
I. ...
Statement:
No cat is dog.
Only a few cats are goats.
Some goats are not rats.
Conclusion:
I. Some goats are rats.
II. No rat is cat.
- Statements:
All Serial are Channel.
Some Serial are Button.
Only a few Button is Remote.
Conclusions:
I. All Serial... In the question below are given some statements followed by some conclusions. You have to take the given statements to be true even if they seem to be ...
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