Question

What should an insurance company disclose regarding accounting policies?

a.

Only significant accounting policies need to be disclosed

b.

All accounting policies in terms of the accounting standards issued by the ICAI

c.

Only policies related to investment need to be disclosed

d.

Accounting policies are not required to be disclosed

Posted under IC 89 Management Accounting

Answer: (b).All accounting policies in terms of the accounting standards issued by the ICAI Explanation:All significant accounting policies in terms of the accounting standards issued by the ICAI should be disclosed.

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