Afire occured in the godown of Mr. Asok who keeps his books under single entry and his goods were partly destroyed. Since the goods were insured, he lodged a claim of Rs. 1,00,000/- to the insurance company, out of which only Rs. 60,000 was admitted. On what ground can the Insurance company’s decision be justified?

Afire occured in the godown of Mr. Asok who keeps his books under sing

1.	Afire occured in the godown of Mr. Asok who keeps his books under single entry and his goods were partly destroyed. Since the goods were insured, he lodged a claim of Rs. 1,00,000/- to the insurance company, out of which only Rs. 60,000 was admitted. On what ground can the Insurance company’s decision be justified?
Answer» Since, Mr. Asok maintain incomplete records, it is not reliable and scientific. These accounts are not accepted by the Insurance company. It is one of the limitations of single entry.

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