1 ___________ helps you to plan for life’s uncertainties.

2 Contingency fund is calculated as ____________ x no. of 6 months or 24 months.

3 Deven’s monthly income is Rs 20,000 while his monthly regular expenses are Rs 15,000. He wants to set up a minimum contingency fund accounting for a year. Calculate the contingency fund for Deven.

4 While accounting for contingency reserve, don’t account for all liabilities.

5 Which of the following are not regular expenses?