Question

What should be disclosed in the notes to the Balance Sheet concerning underwriting commitments outstanding?

a.

Underwriting commitments should not be disclosed

b.

Only acknowledged underwriting commitments need to be disclosed

c.

Underwriting commitments outstanding should be disclosed

d.

Only underwriting commitments related to life policies need to be disclosed

Answer: (c).Underwriting commitments outstanding should be disclosed Explanation:Underwriting commitments outstanding should be disclosed by way of notes to the Balance Sheet.

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Q. What should be disclosed in the notes to the Balance Sheet concerning underwriting commitments outstanding?

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