The Matching Principle states that expenses should be recognized in the same period as the revenues they helped to generate. In the case of fixed assets, they are acquired to help generate revenue over a period of time. Thus, their cost should be allocated as an expense over their useful life, rather than being recognized as a one-time expense in the period of purchase.
What covers professionals for negligence and errors or omissions that injure their clients?
Which of the following is a reinsurance company in India?
Policy that can be cancelled or have the premium s raised by the insurer on a specific anniversary date, subject to certain reasons written into the pol...
Under motor insurance, ambulances are classified under which class?
A term policy that can be converted to permanent coverage rather than expiring on a specific date is called _________.
Coverage for bodily injury and property damage incurred through ownership or operation of a vehicle is called?
In which year New India Assurance Co Ltd nationalized?
Which of the following term matches with Family Floater?
A policy that covers the cost of repairing or replacing a damaged computer system is:
Which of the following principles of Insurance enables the insured to claim the amount from the third party responsible for the loss?
