IC46 GENERAL INSURANCE ACCOUNTS PREPARATION - 26

Que. 1 : Q1) PQR Company Ltd obtained a machine for Rs.1000000 with its useful life of 8 years on 01.04.2006. Replacement was to be done after 8 years by setting up a Depreciation Fund. Interest rate is 6% p.a. Calculate annual investment/ Sinking Fund?

   1.  a) Rs.82.365

   2.  b) Rs.96.368

   3.  c) Rs.1,01,035

   4.  d) Rs.1,21,369

Que. 2 : Q2) Bank deposits with more than __________ maturity shall be disclosed separately.

   1.  a) 3 months

   2.  b) 6 months

   3.  c) 9 months

   4.  d) 12 months

Que. 3 : Q3) The total remuneration payable to its directors and managers in respect of any financial year shall not exceed:

   1.  a) 11% of the net profits

   2.  b) 5% of the net profits

   3.  c) 3% of the net profits

   4.  d) None of the above

Que. 4 : Q4) The reinsurer assumes an agreed percentage of each risk from the first rupee, up to any limit assigned is refer to ___________.

   1.  a) Quota share

   2.  b) Surplus share

   3.  

   4.  

Que. 5 : Q5) Which section in the Companies Act 2013 would governs the contents and disclosures of annual report of a company?

   1.  a) Section 136

   2.  b) Section 140

   3.  c) Section 208

   4.  d) Section 217