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If the claim on account of workmen’s compensation is more than the workmen compensation reserve, which account(s) is/are debited initially?
- a)Workmen Compensation Reserve
- b)Revaluation A/c
- c)Both (a) and (b)
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
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If the claim on account of workmen’s compensation is more than t...
Is related to an injury or accident at the workplace, the workmen may be entitled to various benefits and compensation. This could include medical expenses, rehabilitation costs, lost wages, disability benefits, and in some cases, a lump-sum settlement.
The specific benefits and compensation will depend on the laws and regulations of the specific jurisdiction and the severity of the injury. In some cases, the workmen may also be eligible for vocational training or job placement assistance if they are unable to return to their previous role.
It is important for the workmen to report the injury or accident to their employer as soon as possible and seek medical attention. They may need to fill out various forms and provide documentation to support their claim. It is also advisable for them to consult with an attorney specializing in workers' compensation to ensure they receive all the benefits and compensation they are entitled to.
Overall, the claim on account of workmen is aimed at protecting and supporting the injured worker, both financially and medically, during their recovery process.
The specific benefits and compensation will depend on the laws and regulations of the specific jurisdiction and the severity of the injury. In some cases, the workmen may also be eligible for vocational training or job placement assistance if they are unable to return to their previous role.
It is important for the workmen to report the injury or accident to their employer as soon as possible and seek medical attention. They may need to fill out various forms and provide documentation to support their claim. It is also advisable for them to consult with an attorney specializing in workers' compensation to ensure they receive all the benefits and compensation they are entitled to.
Overall, the claim on account of workmen is aimed at protecting and supporting the injured worker, both financially and medically, during their recovery process.
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If the claim on account of workmen’s compensation is more than the workmen compensation reserve, which account(s) is/are debited initially?a)Workmen Compensation Reserveb)Revaluation A/cc)Both (a) and (b)d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
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If the claim on account of workmen’s compensation is more than the workmen compensation reserve, which account(s) is/are debited initially?a)Workmen Compensation Reserveb)Revaluation A/cc)Both (a) and (b)d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about If the claim on account of workmen’s compensation is more than the workmen compensation reserve, which account(s) is/are debited initially?a)Workmen Compensation Reserveb)Revaluation A/cc)Both (a) and (b)d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the claim on account of workmen’s compensation is more than the workmen compensation reserve, which account(s) is/are debited initially?a)Workmen Compensation Reserveb)Revaluation A/cc)Both (a) and (b)d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.
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