Q836
Which of the following is incorrect?
A.
Profit is excess of income over outgo
B.
Profits are excess of assets over liabilities
C.
The same yardstick as is followed by a firm can be applied while life ins. valuation
AnswerD.
All of the above
Answer: Option C
Solution
Answer: Option C
Solution:
The same yardstick as is followed by a firm cannot be applied while life insurance valuation. Both have different ways.