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ICDS II (Income Computation and Disclosure Standards II) focuses on providing guidelines for the valuation of inventories. Inventories refer to goods held by a business for the purpose of resale, production, or consumption. This standard ensures that inventories are valued appropriately in a consistent manner to reflect their true economic value. Proper valuation of inventories is crucial for determining accurate profits and financial positions in a business. The standard outlines principles and methods for determining the cost of inventories, including factors such as purchase cost, production cost, and overhead allocation. This helps in maintaining consistency and transparency in financial reporting across different businesses.
The largest general insurance company in the world by revenue is:
The first private health insurance company in India was:
A policy that covers the loss of baggage during travel is:
Which among these is not a type of General Insurance plans?
I. Motor Insurance
II. Marine Insurance
III. Health Insurance
A motor insurance cover note is valid for how many days?
An endorsement added to an insurance policy, or clause within a policy, that provides additional coverage for risks other than those in a basis policy i...
Who is the chairman of 15th Finance Comission?
What is NOT a common express condition in an insurance policy?
Which is not a General Insurance company?
Consider the following statement:
I. NCB is given to the insured and not to the insured vehicle.
II. On transfer of the vehicle, the ...
