Differences between a Sub-Agent and a Substituted Agent The following are some of the differences between a Sub-Agent and a Substituted agent. 1. Control: A sub-agent is the
Rights of Insurer in a Fire Insurance Policy The following are the rights of an insurer in a fire insurance policy. Right to avoid the contract. Right of
14 Differences between Nomination and Assignment in Insurance The following are the major differences between nomination and assignment: 1. How made: Nomination can be made either by mentioning
What is Nomination in a Life Insurance Policy? Nomination is only an authorization to some one to receive the policy money if and when the policyholder dies. A
Meaning of By-Products In a manufacturing process, a main product is accompanied by production of one or more by-products. In other words by-product is a residual material, which
Methods of apportionment of joint costs to joint products The following are the methods of apportionment of joint costs. 1. Physical Units Method of apportionment This method is
What is a Nominal Wage? Nominal Wages refer to the wages paid in terms of money. This can be called money wages. The remuneration received by labour in
Definition and Meaning of Inflation Everyone is familiar with the term InflationĀ as rising prices. This means the same thing as fall in the value of money. Inflation
Procedure for payment of wages Pay slip is prepared on the basis of the payroll or wages sheet. Pay slip is prepared for each worker separately. Now, each