Q.20. Claims for loss of Profit Policy the first step is calculation of
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Steps for calculation of Insurance claim under loss of stoek policy: Step 1: Take Gross profit ratio: 1. ... Average GP Ratio: Whenever more than one earlier year's data is given, the gross profit rate of each year should be calculated and average should be taken.
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Steps for calculation of Insurance claim under loss of stoek policy: Step 1: Take Gross profit ratio: 1. If the percentage of gross profit is mentioned, then it should be applied for the computation of G.P for the year of fire. 2.
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