Plant and machinery attached by nuts and bolts to special concrete bases or studs or platforms so that it can be moved will be ……
a. mortgaged
b. hypothecated
c. assigned
d. pledged
Ans – b
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As per-section 2(1), a person who buys or agrees to buy goods is called ……
a. Buyer
b. Seller
c. Both a and b
d. None of above
Ans – a
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Interest on capital Account ……
a. Debited to profit & loss A/c
b. Credit to profit & loss A/c
c. Debit to profit & loss and credited to partners capital A/c
d. Only credited to partners capital A/c
Ans – c
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Mortgages used to purchase town houses and apartment complexes are classified as ……
a. multi mortgage
b. multifamily dwelling mortgages
c. sovereign dwelling mortgages
d. primary dwelling mortgages
Ans – b
The cash balance with RBI on any particular day of the fortnight should not be less than % of the required cash balance as per rate of CRR.
a. 60%
b. 91%
c. 70%
d. 50%
Ans – b
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Objective of monetary policy is to (i) Control inflation, (ii) Discourage hoarding of commodities, (iii)
Encourage flow of credit into neglected sector
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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In pledge bailor is called (i) Pawnor, (ii) Pawnee
a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)
Ans – a
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What is the time limit within which Chief Metropolitan Magistrate or District Magistrate shall pass an order after receipt of the affidavit from the authorised officer of the secured creditor?
a. Within 15 days of receipt of application and within such further period not exceeding in aggregate 30 days
b. Within 30 days of receipt of application and within such further period not exceeding in aggregate 60 days
c. Within 45 days of receipt of application and within such further period not exceeding 90 days
d. Within 60 days of receipt of application and within such further period not exceeding 120 days
Ans – b
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Which section of IT Act deals with the legal recognition of electronic records?
a. Section 2
b. Section 5
c. Section 6
d. Section 4
Ans – d
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Undue influence make a contract ……
a. Void
b. Voidable
c. Valid
d. None of above
Ans – a
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Every partner has a right to be consulted in all matters affecting the business of ……
a. Sole – tradership
b. Partnership
c. JSC
d. Both a and b
Ans – b
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An equitable mortgage was created on 10th June, 2015 with our bank and ROC registration was made on 8th July, 2015. Again simple/legal mortgage was created on the same property on 12th June, 2015 with Allahabad Bank and ROC registration was made on 15th June, 2015. Which mortgage will get priority?
a. Mortgage with Allahabad Bank as it was registered with ROC earlier
b. Mortgage with our Bank as it was created earlier
c. Mortgage with Allahabad Bank as it was a Simple mortgage
d. It will be a kind of paripassu charge with both the Banks
Ans – b
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