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INSURANCE CLAIMS
Which expenses of these following expenses are treated as insured standing charges expenses
Answers (13)
It depends on the contract between the Insurer and Insured. The insurance contract would define what are the charges which are insured.
Sir, in some questions they are including selling expenses in some other not selling expenses how can we estimate
Sir, in some questions they are including selling expenses in some other not selling expenses how can we estimate
Pls share the question. The wordings of question will help us understand.
Pls share the question. The wordings of question will help us understand.
Sir, In Ramda and sons they included selling expenses where as Sony ltd they doesn't use selling expenses
Sir, In Ramda and sons they included selling expenses where as Sony ltd they doesn't use selling expenses
The question gives following towards standing charges insured. Ramda & Sons - The policy states that 156,000 is insured. Sony limited - 50,000 Is this what your doubt is?
While calculating gp which are standing charges are taken
Gross Profit = Net profit + Insured Standing Charges.
May be his question is in above question while calculating gross profit why selling expenses are not considered. Where in some other questions they are considering selling expenses also as insured standing charges
You have to consider insured standing charges which is given in question. Please note that the GP for additional expenses is different from normal GP and this has been extensively covered in class.