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Insurance claim

Accounting Entries 450 views 1 replies

Hello friends i am not able to understand  meaning of following paragraph.can you help me out??

A special clause in policy stipulate that owing to reason acceptable to the insurer under the special circumstances the following  increases are to be made :

(A) Increase of turnover standard and actual by 10% .

(B)Increase in rate of gross profit by 2% from previous year`s level.

 

Replies (1)

to compute the short sale increase the past corresponding period's sale by 10% and GP rate by 2%..


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