Question

What basis should be disclosed concerning operating expenses relating to insurance business?

a.

No basis is required to be disclosed for operating expenses

b.

Disclose only the total operating expenses without details

c.

Disclose the basis of allocation of expenditure to various classes of business for operating expenses

d.

Disclose only the percentage of operating expenses

Answer: (c).Disclose the basis of allocation of expenditure to various classes of business for operating expenses Explanation:The basis of allocation of expenditure to various classes of business for operating expenses should be disclosed.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What basis should be disclosed concerning operating expenses relating to insurance business?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!