Q 1. What is the fundamental principle of double entry bookkeeping?
Q 2. What is the significance of the "utmost good faith" principle in insurance contracts?
Q 3. What happens when the deposit amount is less than the required premium for the proposer?
Q 4. Which of the following is not included in the expenses of management?
Q 5. What provision is made in case of diminution in the value of unlisted investments?
Q 6. What is the purpose of an endorsement in an insurance policy?
Q 7. How is Gross Book Value of a fixed asset defined?
Q 8. What is the primary purpose of a Funds Flow Statement?
Q 9. What does the feature of "diversity" in taxation imply?
Q 10. What does the Prevention of Money Laundering Act (PMLA), 2002 aim to regulate?
Q 11. How is the cost of claim calculated for life insurance policies?
Q 12. What is the purpose of the accounting entry:
Bad and doubtful debts expense account Dr X
To Provision for doubtful debts X
Q 13. When does the risk commence for cash payments?
Q 14. Which of the following is not included in the expenses of management?
Q 15. How are impairments in the value of listed securities and investments treated?
Q 16. What does the labour budget consider?
Q 17. Why was the treatment of the compensation received by Akanksha Ltd. considered invalid according to AS - 5?
Q 18. Which type of approach in empirical studies considers several ratios simultaneously to predict corporate insolvency?
Q 19. How do some insurance companies decentralize payment in cash management?
Q 20. What is the first stage of money laundering?
Q 21. What is the purpose of the reversal of accrual?
Q 22. If expenses exceed income, what does it indicate?
Q 23. What happens to the moneys standing to the credit of an employee in the Group Superannuation Scheme in case of cessation of service or death while in service prior to superannuation age?
Q 24. What is the accounting entry for payment of a partial withdrawal from the unit fund?
Q 25. What is a standard asset according to IRDA's classification?
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