262015 Related Question Answers

51. When the same transaction is recorded twice in the books of accounts, the error is called :





52. Carriage outward is an item of--------------overhead.





53. --------------refers to excess of absorbed overhead over the actual overhead.





54. Operating cycle is :





55. If the debentures carry interest @ 10% per annum and corporate tax rate is @ 30%, cost of debt is:_





56. The essentials of a valid contract is provided under,-----------------of the Indian ContractAct.





57. A contract without consideration is :





58. A minor's contract was held to be void in the case :





59. Section 13 (f) of the Indian Partnership Act provides for :





60. Which is correct about the following statements?(1)A counter offer terminates the original offer(2)Quotation of price is an offer(3)Acceptance to an offer is like a lighted match to a train of gun powder





61. When goods are displayed in a shop window with price tags attached to them, it. amounts to :





62. The damages under Section 73 of the Indian Contract Act are :





63. Which section of the Indian Contract Act, deals with agreement in restraints of legal proceedings?





64. A partner has no implied authority :





65. Where one of the parties is under a mistake as to matter of fact, the contract is?





66. A property belonging to a partner on entering into a partnership and used for the purposes of partnership :





67. Section 40 of Indian Partnership Act provides for :





68. The liability of a partner :





69. Section----------------of sale of Goods Act, 1930, enumerates the doctrine of‘Nemo dat quodnon habet’.





70. The term 'Mercantile agent.' defined under sale of Goods Act means an agent having in the customary course of business as such agent authorised to





71. A contract of sale under Section 4 of the sale of goods may be :





72. The unpaid seller of goods can waive his right to lien :





73. Conditions and warranties are defined in Sect ion--------------of the sale of Goods Act.





74. The principle of caveat cmptor is enunciated under Section --------------of the sale ofGoods Act.





75. The term ‘Person' defined under the Kerala value added tax includes :





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