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Direct Payments Made by Bank

Valuation bal...

Question

Valuation balance sheet is prepared by _________.

A

General insurance company

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B

Life insurance company

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C

Joint stock company

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D

Banking company

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Solution

The correct option is D Life insurance company
The valuation has to be got done by the insurance company every year. In case of life insurance, Revenue Account (Policyholders' Account), Profit and Loss Account (Shareholders' Account) and Balance Sheet are prepared as per Form A-RA, Form A-PL and Form A-BS respectively.

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