Question
A general insurer bundles motor policies with a roadside
assistance service delivered by a third party. Premium is collected upfront for 12 months; assistance is stand-ready and can be used any time. Insurer pays the third party per call. Under Ind AS 115, how is revenue timing determined?Solution
For stand-ready services, revenue is recognized over the coverage period (passage of time).
In the questions given below there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be...
In the given question, three conclusions are given and five statements as 1), 2), 3), 4) and 5). You need to choose the option that contains the set of...
Statements:
Some bangles are necklaces.
No necklace is a ring.
Only a few rings are anklets.
All anklets are earrings.
<...Statement : Â 75 % Minutes are Watch
Few Watch are Hour
All Hour are Month
Conclusion
I. Mostly Minutes are hour
...
Statements:
No key is a lock.
All locks are doors.
All windows are doors.
All windows are walls.
Conclusions:
Statement:Â
Only car are bus.
No bus is train.
Only bike are train.
Conclusion:
I. No train is car.
II. S...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statements:
Mostly animals are birds
No bird is reptile
Few reptiles are amphibians.
Conclusions:
I. All amphibians b...
Statements:
Only a few Novels are Journals.
Only a few Journals are Booklets.
All Booklets are Magazine.
Some Booklets are ...
Read the given statements and conclusions carefully. Assuming that the two statements are given followed by three conclusions numbered I, II and III. A...
