IC26 LIFE INSURANCE FINANCE -19
| Q1.Capital Expenditure increases the value of a ____ asset |
| a) non-current |
| b) current |
| c) both of the above |
| Q2.A Fall in the percentage of Gross Profit to sales is mainly due to |
| a) Either by Higher Expenses |
| b) or by Lower Incomes |
| c) by both |
| d) all of above |
| Q3.International Financial Reporting Standards (IFRS) have been prepared by ____. |
| a) A. IRDA |
| b) B. ICAI |
| c) C. IASC |
| d) D. IASB |
| Q4.The expenses which help to generate income over a period of years are called |
| a) Revenue expenditure |
| b) Deferred revenue expenditure |
| c) Deferred capital expenditure |
| d) Capital expenditure |
| Q5.Depreciation expense in the declining balance method is calculated by |
| a) Depreciation Rate multiplied by book value at the beginning of the year |
| b) Depreciation Rate plus book value at the end of the year |
| c) Depreciation Rate divided by book value at the beginning of the year |
| d) Depreciation Rate times accumulated depreciation at year-end |
| Q6.Profit on sale of assets is shown on side of a trial balance |
| a) credit |
| b) Receipt |
| c) Payment |
| d) debit |
| Q7.P and L A/c of a Non- Trading Organization is called as Income and Expenditure A/c. Why? |
| a) They often make losses. |
| b) They are forbidden by statute to make profits |
| c) By the object of their association they are non-profit-making bodies. |
| d) Their income and expenditure statement is a combination of capital and revenue receipts. |
| Q8.What is Journal Entry |
| a) ORIGINAL ENTRY |
| b) DOUBLE ENTRY |
| c) DUPLICATE ENTRY |
| d) NONE |
| Q9.In Unit linked Pension Policy (ULPP), ____ amount of fund value can be computed by the policyholder at maturity. A. Full Lump Sum Amount B. 1/2 of his fund C. 1/3 of his fund D. No amount can be withdrawn in pension plans at maturity |
| a) A |
| b) B |
| c) C |
| d) D |
| Q10.Smurfing occurs during ___ stage of money laundering |
| a) replacement |
| b) placement |
| c) integration |
| d) layering |