Question
What is the principle of indemnity in
insurance?ÂSolution
The insurer should compensate the insured for the actual financial loss suffered due to an unforeseen event or peril Explanation: The principle of indemnity requires the insurer to compensate the insured for the actual financial loss suffered due to an unforeseen event or peril, up to the amount of the sum insured.
Ind AS 7 deals with which of the following:
According to Ind AS 16, if the cost of dismantling a plant in future is ₹5 lakh, and there's a present obligation, how should this be treated?
In the Budget proposed on 1st February 2017, what is the maximum limit imposed on cash transactions?
What is the primary purpose of the "Canon of financial propriety"?
What is the loan amount and tenure under the second tranche of finance provided through PM Vishwakarma Scheme?
Donation given by any person except by Indian company to Political Parties or Electoral Trust is allowed under which section?
An individual who wants to be a resident of India U/S6(1) must stay in India for at least:
For a given product, the sales of a company @ ₹ 200 per unit is ₹ 20,00,000. Variable cost is Rs 12,00,000 and fixed cost is ₹ 6,00,000. The capac...
'Bridge Financing' is a short-term loan used to:
For more than three years (unsecured) doubtful advances, provision will be made for
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