Description : Anuj agrees to pay ` 10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes: A. Valid B. Void C. Voidable D. Illegal
Last Answer : B. Void
Description : Wagering Agreement is a _____________ agreement A. Valid B. Voidable C. Void D. Illegal
Last Answer : C. Void
Description : When the contract is perfectly valid in its substance but cannot be enforced because of certain technical defects. This is called a/ an- (a) Unilateral Contract (b) Bilateral Contract (c) Unenforceable Contract (d) Void Contract
Last Answer : (c) Unenforceable Contract
Description : A makes a contract with B to beat his business competitor. This is an example of (a) valid contract. (b) illegal agreement. (c) voidable contract. (d) unenforceable contract.
Last Answer : (b) illegal agreement.
Description : ………………. is forbidden by law. (a) Valid contract (b) Illegal agreement (c) Voidable contract (d) Unenforceable contract
Last Answer : (b) Illegal agreement
Description : A warranty is a stipulation which is A. Essential to the main purpose of contract of sale. B. Essential for buyer's specific purpose. C. Collateral to the main purpose of contract of sale. D. None of these
Last Answer : C. Collateral to the main purpose of contract of sale.
Description : Which of the following exceptions in the WTO rules does not permit a country to use a tariff or quota that is more restrictive than its bound tariff? A. Anti-dumping B. Countervailing duties C. Safeguards D. Balance of payments protection E. Preferential trade agreements
Last Answer : E. Preferential trade agreements
Description : With regard to the WTO, subsidies are covered in two separate international economic law agreements. Which are they? A. The GATT and the Agreement on Subsidies and Countervailing Measures B. ... D. The International Monetary Fund's Articles of Agreement and the European Central Bank's Statute.
Last Answer : A. The GATT and the Agreement on Subsidies and Countervailing Measures
Description : What are the two main functions of the WTO? A. The promotion of free trade and economic liberalism B. The administration of the WTO agreements and the resolution of international trade ... of the WTO's institutional framework and the promotion of economic co-operation amongst its members
Last Answer : D. The administration of the WTO’s institutional framework and the promotion of economic co-operation amongst its members
Description : Does the WTO come with its own institutional framework? A. No, the WTO depends on the relevant frameworks of national governments B. No, the WTO provides certain institutional arrangements ... Yes, the WTO provides a common institutional framework for the implementation of free trade agreements
Last Answer : D. Yes, the WTO provides a common institutional framework for the implementation of free trade agreements
Description : What is the underlying characteristic of the WTO? A. It facilitates economic co-operation between different countries B. It resolves disputes between economic trade blocks C. It facilitates ... the Uruguay round, the organisation's ultimate goal being the promotion of free international trade
Last Answer : D. It acts as an umbrella institution that regulates the agreements concluded at the Uruguay round, the organisation’s ultimate goal being the promotion of free international trade
Description : Promises which form the consideration or part thereof, for each other under section 2(F) are called A. Acceptances for different proposals B. Agreements C. Reciprocal promises D. Consideration
Last Answer : C. Reciprocal promises
Description : Pre incorporation contract is also known as _________ A. Provisional B. Preliminary C. Illegal D. Legal
Last Answer : A. Provisional
Description : If in an instrument the amount undertaken or ordered to be paid is stated differently in figures and in words A. The instrument is void due to uncertainty B. The amount stated in figure shall be ... amount stated in words shall be the amount undertaken or ordered to be paid D. None of the above.
Last Answer : A. The instrument is void due to uncertainty
Description : The doctrine of _________ does not apply to acts void ab initio. A. Ultra virus B. Intra virus C. Constructive notice D. Indoor management
Last Answer : C. Constructive notice
Description : A minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the ... the age of majority D. The creditor can recover his amount from the parent or guardian of the minor
Last Answer : A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio
Description : According to enforceability, the contracts may be classified as A. Valid contracts. B. Void contracts. C. Voidable contracts. D. All of the above.
Last Answer : D. All of the above.
Description : Which of the following is false with respect to minor entering a contract? A. An agreement with or by a minor is void ab initio B. A minor can be a beneficiary of a contract C. The ... be enforced at the option of the third party D. A minor cannot ratify a contract on attaining majority
Last Answer : C. The contracts involving a minor as a beneficiary may be enforced at the option of the third party
Description : A Void Contract A. Is void from the very beginning? B. Enforceable at the option of both the parties. C. Enforceable at the option of one party D. Not enforceable in the court of law
Last Answer : D. Not enforceable in the court of law
Description : A primary objective of dual exchange rates is to allow a country the ability to insulate its balance of payments from net: A. Current account transactions B. Unilateral transfers C. Merchandise trade transactions D. Capital account transactions
Last Answer : D. Capital account transactions
Last Answer : D. Capital account transaction
Description : Which exchange-rate mechanism is intended to insulate the balance of payments from short-term capital movements while providing exchange rate stability for commercial transactions? A. Dual ... Floating Exchange Rates C. Adjustable Pegged Exchange Rates D. Crawling Pegged Exchange Rates
Last Answer : A. Dual Exchange Rates
Description : Management accounting involves A. Preparation of financial statements B. Analysis and interpretation of data C. Recording of transactions D. None of the above
Last Answer : B. Analysis and interpretation of data
Description : The basic function of management accounting is to: A. record all business transactions B. interpret the financial data C. assist the management in performing its functions effectively D. None of the above
Last Answer : C. assist the management in performing its functions effectively
Description : The prime function of accounting is to: A. record economic data B. provide the informational basis for action C. classify and record business transactions D. attain non-economic goals.
Last Answer : B. provide the informational basis for action
Description : Management accounting is related with (i) The problem of choice making (ii) Recording of transactions (iii) Cause and effect relationships A. (i) and (ii) B. (ii) and (iii) C. (i) and (iii) D. All are false
Last Answer : C. (i) and (iii)
Description : Illegal intrusion of a computer system without authorization of the owner or user is__________ A. Hacking B. Spam C. Phishing D. Spoofing
Last Answer : A. Hacking
Description : where in an auction sale, the seller appoints more than one bidder, the sale is a) illegal b)void c)conditional d)voidable
Last Answer : d)voidable
Description : A contract which is impossible to perform is (a) Voidable (b) Void (c) Illegal (d) Enforceable
Last Answer : (b) Void
Description : If in a contract, the time lapses and if the party fails to perform the contract within specified time the contract becomes (a) Voidable (b) Void (c) Illegal (d) Enforceable in the court
Last Answer : (a) Voidable
Description : A contingent contract is (a) Void (b) Voidable (c) Valid (d) Illegal
Last Answer : (c) Valid
Description : …………….. is a one-sided contract in which only one party has to perform his promise or obligation. (a) Void contract (b) Illegal agreement (c) Unilateral contract (d) Bilateral contract
Last Answer : (c) Unilateral contract
Description : Agreement the meaning of which is uncertain is (a) Void (b) Valid (c) Voidable (d) Illegal
Last Answer : (a) Void
Description : The Taj Mahal is being affected by A. Noise pollution B. Air pollution C. Water pollution D. None of these
Last Answer : B. Air pollution
Description : The biggest challenge in planning for change is: A. Who will be affected by the change B. Anticipating its unintended, unexpected outcomes C. Deciding who should implement the change D. Communicating why the change is needed
Last Answer : B. Anticipating its unintended, unexpected outcomes
Description : Which statements are legitimate challenges to utilitarian ethical theory? A. The end may justify the means. B. There is no consensus among utilitarians on how to measure and determine the overall good. C. It ... more relativistic accounts of the good. E. All of the above. F. None of the above.
Last Answer : E. All of the above.
Description : Consumer expenditures are affected by ________. A. Savings B. Debt C. Credit availability D. All of the above E. None of the above
Last Answer : D. All of the above
Description : Mark the correct option relating to pension cases a) The continuity of an applicant's service cannot be established by the mere production of order of transfer issued at various time unless the receive the ... has to be issued by the competent authority in every case. d) All the above are correct
Last Answer : d) All the above are correct
Description : Does the WTO apply its framework in exactly the same fashion throughout the world? A. Yes, the WTO applies its framework in exactly the same way throughout the world B. Yes, the WTO ... variation D. No, the WTO makes allowance for variation in the case of economically stronger countries
Last Answer : C. No, the WTO makes allowance for regional variation
Description : In the case of financial enterprises, the cash flow resulting from interest and dividend received and interest paid should be classified as cash flow from A. Operating activities B. Financing activities C. Investing activities D. None of the above
Last Answer : A. Operating activities
Description : In case of death of a consumer who can prefer compliant under Section 2(1)(b) of Consumer Protection Act 1986 A. his legal heir or representative B. State Government C. consumer association registered under the Companies Act, 1956 D. No one can prefer complaint
Last Answer : A. his legal heir or representative
Description : In case of insolvency of a drawee, a bill should be presented for acceptance to the A. Official receiver B. Acceptor for honour C. Drawee incase of need
Last Answer : A. Official receiver
Description : Presentment of an acceptance is required in case of A. Every Bill of exchange B. Every Bill of exchange payable after sight C. Every promissory note D. Every cheque
Last Answer : C. Every promissory note
Description : The indorser is excluded from his liability for dishonour of instrument towards his subsequent holder in case of A. Sans Recourse Endorsement B. Facultative Endorsement C. Sans Frais Endorsement D. None of the above.
Last Answer : B. Facultative Endorsement
Description : _______ prospectus was issued in case securities were issued in stages A. Deemed B. Shelf C. Red herring D. None of the above
Last Answer : A. Deemed
Description : Company should file a prospectus in case of conversion of private company into a public company with in __________ from the date of resolution A. 30 days B. 45 days C. 60 days D. none of these
Last Answer : D. none of these
Description : Maximum number of members in case of public company is: A. 50 B. 100 C. 150 D. 200
Last Answer : D. 200
Description : In case of ‘sale or return’ the buyer is deemed to have accepted the goods when: A. He does not intimate to the seller that he has rejected them B. He retains without intimating the seller that he has rejected them C. He rejects the goods but does not intimate the seller D. He pledges the goods
Last Answer : A. He does not intimate to the seller that he has rejected them