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## Explain with examples all of the following?- Insurance Institute Of India – 2012

1. Standing Charges 2.Output Basis Specification 3.Rate Of Gross Profit

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A standing charge is a fixed amount that's applied to your gas and electricity bill daily. For any tariff with a standing charge you'll pay a daily charge and a unit rate, making it easier to understand how much you're paying.

3)Once you determine gross profit, you can calculate the gross profit rate by dividing gross profit by net sales. For example, say that a company has net sales of \$594,000 and cost of goods sold of \$300,000. ... In this scenario, gross profit is (\$106,000) and gross profit rate is -0.18.

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