Mohit Agarwal - Divya Agarwal MEPL Students Community
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This is a CHANNEL of MEPL led by Mohit Agarwal Sir where we shall give Notes , Amendment video links & other information.
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FOUNDATION LEVEL QUIZ

P contracts with Q to supply 1,000 bags of wheat. P delivers only 900 bags, but Q accepts them. Is Q entitled to claim damages for short delivery?
Anonymous Quiz
27%
A. No, as Q has accepted the delivery
35%
B. Yes, for the shortfall of 100 bags
13%
C. No, unless Q protests at the time of delivery
25%
D. Yes, but only if Q notifies P of his intention to claim damages
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INTER LEVEL QUIZ

If an auditor concludes that the financial statements are materially misstated but the client refuses to make corrections, the auditor should issue:
Anonymous Quiz
32%
A. Disclaimer of Opinion
43%
B. Adverse Opinion
17%
C. Qualified Opinion
7%
D. Emphasis of Matter Paragraph
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Forwarded from Mohit Agarwal
FOUNDATION LEVEL QUIZ

A contracts to deliver 50 bags of rice to B on a specified date. A fails to deliver, and rice prices increase drastically. What is B entitled to claim?
Anonymous Quiz
23%
A. Actual loss incurred
40%
B. Market price difference on the date of breach.
26%
C. Full compensation as decided by A.
11%
D. Punitive damages for non-delivery
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Forwarded from Mohit Agarwal
INTER LEVEL QUIZ

The auditor discovers that management has materially misstated certain figures intentionally. What opinion should the auditor issue if management refuses correction?
Anonymous Quiz
23%
A. Disclaimer of Opinion
25%
B. Qualified Opinion
41%
C. Adverse Opinion
12%
D. Unmodified Opinion with Emphasis of Matter
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Forwarded from Mohit Agarwal
FINAL LEVEL QUIZ

ABC Ltd. declares a dividend but fails to pay it within 30 days. What is the maximum penalty for the directors?
Anonymous Quiz
19%
A. ₹25,000
42%
B. ₹50,000 or imprisonment for 2 years
29%
C. ₹1,00,000 or imprisonment for 6 months
10%
D. ₹5,00,000 or imprisonment for 7 years
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