A proposes by letter to sell a house to B The Communication of the proposal is complete ……
a. When A make such proposal
b. When B accepts the proposal
c. Both a. and (b)
d. None of above
Ans – b
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For the firm interest on drawing is ……
a. Expense
b. Income
c. Liability
d. None
Ans – b
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Where an unpaid seller has made part delivery of the goods he may exercise his right ……
a. Return on the remainder
b. Of lien on the remainder
c. Sale to any other person
d. None of above
Ans – b
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Within how many days shall the Central Registrar be intimated regarding satisfaction of security interest?
a. 30 days from the date of such payment or satisfaction
b. 60 days from the date of such payment or satisfaction
c. 120 days from the date of such payment or satisfaction
d. 90 days from the date of such payment or satisfaction
Ans – a
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Which court shall try any offence punishable under this Act?
a. No Court inferior to that of Metropolitan Magistrate or a Judicial Magistrate of Second Class
b. No Court inferior to that of High Court
c. No Court inferior to that of Metropolitan Magistrate or a Judicial Magistrate of First Class
d. No Court inferior to that of Principal Junior Civil Judge or a Judicial Magistrate of First Class
Ans – c
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The mortgager transfers the mortgaged property to the mortgagee on the condition that it will be retransferred upon payment of mortgaged money. This is ……
a. Simple mortgage
b. English mortgage
c. equitable mortgage
d. mortgage by conditional sale
Ans – b
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Mr. X a transporter has been granted a loan for purchase of a truck. You will create which of the following charge ……
a. Assignment
b. a mortgage
c. pledge
d. hypothecation
Ans – d
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For which of the following assets the charge hypothecation is not created ……
a. land
b. machine
c. stock
d. vehicle
Ans – a
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For the purpose of exposure norms, what is the meaning of capital fund?
a. paid up capital and reserves
b. Tier I capital
c. Tier I & Tier II capital
d. None of these
Ans – c
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Consider the following statements
i. American depositary receipts are securities of a non-US company that trade in the US financial markets.
ii. ADR is a negotiable security which represents securities of companies that is foreign to the market which the DR trades.
Which of the statements given above is/are correct?
a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
Ans – c
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Good will of the firm is valued Rs. 30000. C an incoming partner purchase ¼ share of total profit Good will be raised in the books.
a. Rs. 30000
b. Rs. 7500
c. Rs. 120000
d. Rs. 7000
Ans – a