A company purchased 50,000 units of raw material at Rs.2 per unit. At what value will the raw material inventory be recorded in the books of accounts if the market price of the units as at 31 March 2021 is Rs.1.6 per units?
The inventory is valued at lower of cost of net realisable value. The cost is Rs.2 per unit and realisable value on the closing day of balance sheet is Rs.1.60 per unit. As such, it will be valued at Rs.1.60 per unit. As such, Value of inventory will be = 1.6*50000 = Rs.80,000
Which type of policy is offered by an insurer for covering jewellery?
The Insurance Act has __________sections and ______ schedules.
An independent professional person registered under the Insurance Act who represents the insurance buyer to purchase the insurers policy is known as?
Contract under which the ultimate liability of the reinsurer is capped and on which anticipated investment income is expressly acknowledged as an underw...
_______ in the insurance industry involves an applicant gaining insurance at a cost that is below their true level of risk.
What is the maximum Time in which the insurer should settle a claim when all documents are submitted?
A survey which is held to determine a properties insurable value is known as?
Which of the following are authorized only to maintain the policies in electronic form and provide a service record of all insurance policies?
Purchase price (premium) for the immediate annuity is to be paid in how many installments?
Surf Excel, which is a 110+ year-old global brand, is a subsidiary of which company?