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

Posted under IC 89 Management Accounting

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.

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