balance sheet of life insuranceएक्सप्लेन द कंसेप्ट ऑफ लाइफ इंश्योरेंस प्रिपेयर विद इमैजिनरी फिगर थे बैलेंस शीट ऑफ इंश्योरेंस कंपनी
Answers
Answer:
Balance sheet of Insurance Company
Explanation:
Likewise Balance sheet of other companies, the Balance sheet of and Insurance compnay has two sides Liabilities and Assets. The figures should be for current year as well as for immediate previous year
Liabilities side
Shar holder Funds (these are like share capital of a company), Policy holder funds (A life insurance insures the life of an individual and the amount of premiums paid by them are policy holder funds which after a certain period of time, insurance company is to pay back.
Items in the Liabilities sides are
Sources of Funds
Share Capital
Reserve & Surpluses
Share application money pending allotments
Total
Application of funds
Investments
Loans
Fixed Assets
Deferred tax Assets
Current Assets
Cash & Bank Balance
Advances
sub total
Current Liabilities
Provisions
Sub Total
Net current Assets
Total
You can giver any imaginary figures.
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