Question
An insurer faces a probable liability of ₹25 lakh from a pending court case related to motor insurance. As per Ind-AS 37, how should the liability be recorded?
More Accounts Questions
- Which of the following is not a mandatory financial statement of a General Insurance Company as per IRDA regulations?
- Which of the following is true about amortisation of intangible assets under Ind AS?
- A company purchases machinery for ₹10 lakhs and incurs ₹1 lakh on its installation. The accountant records the total ₹11 lakhs under the fixed asset head. ...
- Loans to individuals for educational purposes, including vocational courses, are eligible for PSL up to:
- A firm budgeted sales of ₹120 lakh but achieved actual sales of ₹100 lakh. Variable cost was budgeted at 60% of sales, and actual cost was 62% of actual sa...
- Under RBI’s scale-based regulatory framework for NBFCs, an NBFC–Peer-to-Peer Lending platform (NBFC-P2P) will always fall under which regulatory layer?
- Which of the following is NOT a requirement for charging income-tax on capital gains?
- Which among the following profitability level is the profit from which the fixed costs are to recovered first to arrive at the profit?
- Advance amount received from customers is not considered as sale. It is based on which concept?
- Interest payable on the bonds is a/an _______
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)