Question

How does Insurance Accounting differ from accounting in other industries?

a.

Insurance Accounting focuses more on revenue generation

b.

Insurance Accounting involves less regulatory compliance

c.

Insurance Accounting is basically the same as other industries but with some differences due to the nature of the insurance sector

d.

Insurance Accounting is less complex than accounting in other industries

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Insurance Accounting is basically the same as other industries but with some differences due to the nature of the insurance sector Explanation:Insurance Accounting is basically the same as other industries but with some differences in view of the way the insurance sector works, such as handling premium and claims.

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Q. How does Insurance Accounting differ from accounting in other industries?
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