IC46 GENERAL INSURANCE ACCOUNTS PREPARATION - 02

Que. 1 : Q1) Personal accounts are of how many types?

   1.  a) One

   2.  b) Two

   3.  c) Three

   4.  d) Four

Que. 2 : Q2) In case of a Government Insurance company, the accounts are audited by:

   1.  a) Statutory auditors

   2.  b) Comptroller and Auditor General

   3.  c) Insurance and Regulatory Development Authority

   4.  d) None of the above

Que. 3 : Q3) Under which level, all commercial, industrial and other business enterprises, whose total borrowing, including public deposits during previous year are in excess of Rs.10-crores?

   1.  a) Level I Enterprises

   2.  b) Level II Enterprises

   3.  c) Level III Enterprises

   4.  d) None of these

Que. 4 : Q4) Which statement is useful in providing users of financial statements with a basis to assess the ability of the firm to generate cash and cash equivalent and the needs of the firms to utilise those cash flows?

   1.  a) Cash flow statement

   2.  b) Fund flow statement

   3.  c) Balance statement

   4.  d) Trading account statement

Que. 5 : Q5) Bonus shares can be issued from following: (i) General reserves (ii) Securities premium realized in cash (iii) Revaluation Reserves

   1.  a) Only (i)

   2.  b) Only (ii)

   3.  c) (ii) and (iii)

   4.  d) (i) and (ii)