20) A company’s Current Ratio is 2.0. If it uses cash to pay creditors , this transaction would cause:
Anonymous Quiz
25%
No change in the liquidity position
25%
No change in current ratio
34%
Decrease in current ratio
16%
Increase in current ratio
👎3
21) P appoints Q, a minor to sell his car for not less than Rs. 2.5Iacs. Q sells it for Rs. 2Iacs, whether P will be bound by the transaction or the transaction will be revoked?
Anonymous Quiz
35%
P will be bound to sell the car for Rs. 2lacs
41%
P will be liable to compensate the party involved, in case of revocation
20%
P will not be bounded by the transaction
4%
None of the above
👍1
22) A asks H to kill Z and promises to indemnify H against the consequences. H kills Z and is fined Rs.1000. Can H (indemnity holder) is able to claim the amount of Rs. 1000 from A (indemnifier)?
Anonymous Quiz
19%
Yes
73%
No
6%
Partly Yes & Partly No
3%
Can't say
23) Mr. Ramesh is an Indian citizen and he has stayed in India for a period of 170 days during the last immediately preceding calendar year, does he is eligible to incorporate One Person Company?
Anonymous Quiz
50%
Yes
45%
No
4%
Partly Yes
0%
Partly No
👍1
24) Mrs. Monali is a Chief Financial officer of M/s TATA Ltd. He is a relative of Ms. Sona who is a Chartered Accountant, who desires to appoint as auditor in M/s TATA Ltd. Whether Ms. Sona is eligible to appoint as auditor in M/s TATA Ltd.?
Anonymous Quiz
27%
Yes
68%
No
4%
Partly Yes
0%
Partly No
👍2
StudyCab
23) Mr. Ramesh is an Indian citizen and he has stayed in India for a period of 170 days during the last immediately preceding calendar year, does he is eligible to incorporate One Person Company?
The answer will be yes.
Residence status for formation of OPC also undergone change, instead of stay of 182 days in India, if a person is in India for 120 days or more, in preceding FY, he can be considered as Resident in India.
Sorry for the mistake.
Residence status for formation of OPC also undergone change, instead of stay of 182 days in India, if a person is in India for 120 days or more, in preceding FY, he can be considered as Resident in India.
Sorry for the mistake.
👍6😁2
A leave a cow in custody of B to be taken care of. The cow gives birth to a calf. What will be its consequences with context on contract of Bailment?
Anonymous Quiz
10%
B is only bound to deliver the cow
76%
B is bound to deliver the calf as well as the cow to A
12%
A is require to pay for the acquisition of calf from B
2%
A is require to pay for the acquisition of calf from B
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26) Offences committed under the Negotiable Instruments Act can be……..
Anonymous Quiz
29%
Compoundable
21%
Non compoundable
31%
Non compoundable and non-bailable
19%
Bailable
🥰1
27) A principal owes a duty to ……………..the agent for any losses the agent suffers because of the Principal. This duty usually arises where an agent is held liable for the principal’s misconduct.
Anonymous Quiz
20%
Ratify
19%
Rectify
61%
Indemnify
1%
None of the above
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28) Which among the following is to be considered as a Gratuitous Bailment?
Anonymous Quiz
18%
For the exclusive benefit of Bailor
16%
For the exclusive benefit of Bailee
41%
For the mutual benefit of Bailor & Bailee
25%
Both a or b
29) Whether member of One Person Company can be appoint as nominee in another One Person Company.
Anonymous Quiz
44%
Yes
47%
No
7%
Partly yes
2%
Partly no
🤔18
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👍1
30) K is the wife of A. She purchased a saree on credit from B. B demanded the amount from A. A refused to make the payment. B filed a suit against A for the same amount. Decide in the light of Indian Contract Act, 1872, whether B would succeed or not?
Anonymous Quiz
45%
B is entitled to sue A
42%
B is entitled to sue K
7%
B is not entitled to sue A & K
5%
Can't say
31) If average inventory is 1,25,000 and closing inventory is 10,000 less than opening inventory then the value of closing inventory will be
Anonymous Quiz
13%
1,35,000
29%
1,15,000
18%
1,30,000
40%
1,20,000
❤2🔥1🤔1
32) Which of the following term is most suitable for writing off Patent?
Anonymous Quiz
21%
Depletion
6%
Depreciation
58%
Amortization
15%
All of the above
33) Materiality Principle is an exception to the
Anonymous Quiz
13%
Consistency principle
38%
Full disclosure principle
23%
Accounting period assumption
26%
Prudence principle
👍1
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👍1
34) Excess of hire purchase price over cash price is known as
Anonymous Quiz
16%
Installment
58%
Interest
17%
Cash down payment
9%
Capital value of asset
👍3
Which of the following cannot be detected by Trial Balance?
Anonymous Quiz
26%
Errors of omissions
18%
Errors of principles
23%
Errors of misposting
33%
All of the above
👍1