Question
What is the purpose of a deductible in an insurance
policy?Solution
Deductibles are a portion of the loss that the insured is responsible for paying. They help to: Discourage the filing of small, insignificant claims. Encourage the insured to take precautions to prevent losses, as they will bear the initial cost of any claim. Reduce premiums for the insured.
For an Asset Reconstruction Company (ARC), after how many days of overdue does a receivable get classified as a Non-Performing Asset (NPA) in its books?
A sole proprietor withdrew ₹ 1,00,000 on January 31, 2023 for his personal use from his business. Calculate interest on Drawings @ 12% p.a. for the ye...
For intra-State sales, the GST is divided between the Centre and the State in the ratio?
___________ is a capital budgeting technique which does not require the computation of the cost of capital for decision making purposes.
In international wire transfers, which role does a SWIFT Code play for the sender and the beneficiary?
XYZ Ltd. purchases raw materials for ₹5,00,000 and pays transportation charges of ₹50,000 and GST of ₹90,000. The GST is recoverable. What amount ...
Which section of the Income Tax Act, 1961, allows a deduction of interest paid on loan taken for purchase of an electric vehicle?
An annuity that starts at a predetermined date in the future is called as:
A company begins construction of a qualifying asset funded partly from general borrowings. Work was suspended for 5 months due to a strike. Should borro...
As per AS 10 (Revised) ‘Property, Plant and Equipment’, an enterprise holding investment properties should value Investment property:
