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The accrual accounting concept recognizes revenue when it is earned and expenses when they are incurred, regardless of the timing of cash transactions. When an advance amount is received from customers, it represents a liability until the goods or services are delivered. It is only considered as a sale when the revenue is earned, which aligns with the accrual accounting principle.
A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependents is called?
What does not go on to make a healthy relationship?
In which date the President of India gave his assent to the Insurance Regulatory and Development Authority Bill?
Life Insurance Companies cannot reject insurance claim after how many years ?
Which of the following is the first life insurance company in India?
In Insurance, CGL stands for?
Which of the following institution was established in the year 1955, for the purpose of promoting Insurance Education & Training in the country?
___________ is a type of life insurance policy designed to pay a lump sum on maturity or on death.