Important Points for IC 26 - Life Insurance Finance Exam
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Divisional Offices have to submit Monthly Report to Zonal and Central Offices.
The three main purposes of budgetary control are : forecast of income and expenditure, tool for decision making, monitoring business performance
The two methods used by an organisation to maintain the minimum and maximum level of invetory are LIFO and FIFO.
After the re-organised set-up, the Divisional office is the Controlling office and the Branch office is the Operating office.
There is no source of income for the Divisional office other than the income earned by way of Interest on mortgage loan and rent. Thus, the budget of the divisional office is mainly an Expenditure Budget.
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