Special Accounting Set 2

Bachelor of Commerce (B Com)

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This set of Special Accounting Multiple Choice Questions & Answers (MCQs) focuses on Special Accounting Set 2

Q1 | LIC was nationalized in …………………………………………
Q2 | Insurance business in India is regulated by ……………………………..
Q3 | Under ………….. , the sum assured is given to the beneficiary only On death of policy holder
Q4 | ………………… is the amount payable to the insured on the happening of event.
Q5 | An annual payment which an insurer guarantees to pay for lump sum money received in the beginning is called ………………..
Q6 | The amount given to the policy holder due to his liability of paying Further premium is called ………………………………..
Q7 | ……………. Is an arrangement between two insurance companies whereby one transfers a part of risk to other .
Q8 | Revenue account is also called …………………………………
Q9 | Valuation balance sheet is prepared by ………………… business
Q10 | The commission earned by insurance companies from others for giving them business under re insurance is called ……………………
Q11 | The commission given by insurance companies to others for receiving Business under re insurance is called ………………….
Q12 | The profit and loss amount of general insurance companies are prepared in …………………………………..
Q13 | The principles of subrogation is applicable to ………………………
Q14 | Fire insurance, marine insurance etc come under ………………………
Q15 | In life insurance investments are come under the schedule ………….
Q16 | A …………. Company should transfer 25% of its profit to a statutory Reserve
Q17 | Rebate on bill discounted is a ……………………… of the Banking company.
Q18 | Banks are required to transfer …………………. Of their profit to a statutory reserve
Q19 | Rebate on bills discounted is …………………………….
Q20 | Banking business in India is largely governed by the Banking Regulation Act……………………..
Q21 | ………………… in India is largely governed by the Banking Regulation Act 1949 .
Q22 | Banking business in India is governed by the ……………….. Act.
Q23 | A banking company should transfer 25% of its profit to a …………….
Q24 | A ………………….. loan is payable on demand
Q25 | Money at call and short notice is an ……………… of the banking company.
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