Which of the following is not a principle of insurance
Insurable interest
Subrogation
Surrender value
Proximate cause
Correct answer is C
There are seven basic principles that create an insurance contract between the insured and the insurer:
amount permitted to be withdrawn in excess of one's deposit
excessive cash withdrawn by commercial banks from the Central Bank
credit balance standing in the name of a customer
special deposits made by commercial banks
Correct answer is A
The term bank overdraft refers to a withdrawal of money that is greater than the available balance in an account.
A document issued to the public by a company to advertise its share is known as
prospectus
tender
share certificate
trading certificate
Correct answer is A
A prospectus is a formal document that is required by and filed with the Securities and Exchange Commission (SEC) that provides details about an investment offering to the public.
The total assets of a business less its total liability is known as
capital owned
share capital
issued capital
working capital
Correct answer is A
Capital owned: This is the excess of value of asset of a business over its liability. It is the net worth of a business.
Capital owned = assets - liabilities
The turnover of a trade is the
number of times the stock is sold
total sales made during a period
profit made during the period
total purchases made during the period
Correct answer is A
Turnover is an accounting concept that calculates how quickly a business conducts its operations. Most often, turnover is used to understand how quickly a company collects cash from accounts receivable or how fast the company sells its inventory.