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Factories Act, 1948 Question 1.Write short note on the following term:Cleanliness of factory (Dec 2017, 5 marks)Answer:Section 11 of the Act provides every factory shall be kept clean and free from effluvia arising from any drain, privy or other nuisance, and in particular- removal of accumulated dirt and refuse on floors, benches of workroom, stair […]
Limited Liability Partnership Act, 2008 Question 1.Briefly explain the difference between Partnership and Co-ownership. (June 2014, 4 marks)Answer:Difference between Partnership and Co-ownership. Basis of Distinction Partnership Co-ownership 1. Agreement It arises from an agreement. It may or may not arise from an agreement. 2. Business It is formed to carry on a business. It may […]
Indian Partnership Act, 1932 Question 1.Briefly explain the difference between Partnership and Co-ownership. (June 2014, 4 marks)Answer:Difference between Partnership and Co-ownership. Basis of Distinction Partnership Co-ownership 1. Agreement It arises from an agreement. It may or may not arise from an agreement. 2. Business It is formed to carry on a business. It may or […]
Negotiable Instruments Act, 1881 Question 1.Write Short Notes on Endorsement under Negotiable Instruments Act, 1881 (Dec 2021, 3 marks)Answer:Endorsement:As per Section 15 of the Negotiable Instrument Act states that when the maker or holder of a negotiable instrument signs the same, otherwise than as such maker, for the purpose of negation on the back or […]
Sale of Goods Act, 1930 Question 1.Write short note on:Termination of lien of unpaid Seller. (Dec 2012, 4 marks)Answer:Termination of Lien: Lien has not been specified in the question. It is taken as lien of unpaid seller. The unpaid seller loses his lien on the following conditions: when he himself agrees to terminate or waive […]
Introduction to Law and Legal System in India – CMA Inter Law and Ethics Question 1.Distinguish between ‘Ratio Decidendi’ and ‘Obiter Dicta’ in a judgement by a Court. (Dec 2018, 4 marks)Answer:Ratio Decidendi: These are the principles derived from a particular case, which underlie any judicial decision. These principles act as guidelines for future similar […]
ICMAI Result The ICMAI result is announced periodically by the Institute of Cost Accountants of India. Students are informed of their scores and grades once the evaluations are completed. ICMAI CMA Foundation Result June 2023 The ICMAI CMA Foundation result for June 2023 was declared after the assessments were conducted. Candidates were provided with their marks and pass status […]
Celebrate Dussehra with a 30% off on All New Admissions at Excellent Commerce Point! As the festive season approaches, Excellent Commerce Point is delighted to announce an exciting offer that will make your journey toward academic excellence even more rewarding! This Dussehra, we are offering an incredible 30% discount on all new admissions. Whether you’re […]
Business Ethics and Emotional Intelligence – CMA Inter Law and Ethics Question 1.Write a qualitative note on ‘ethics philosophies’. (Dec 2012, 5 marks)Answer:The following are some of the ethics philosophies:1. Deontological ethical theoryThe word ‘deontological’ is derived from the Greek word “Deon” meaning ‘duty’ or ‘obligation’. Deontological theories focus on certain fundamental duties that we […]
FINANCIAL ACCOUNTING QUESTION ANSWERS Accounting Fundamentals Bills of Exchange, Consignment, Joint Venture Preparation of Final Accounts of Commercial Organisations, Not-for-Profit Organisations and Incomplete Records Preparation of Financial Statements of Commercial Organisations Preparation of Financial Statements of Not-for-Profit Organisations Preparation of Financial Statements from Incomplete Records Partnership Accounting Lease Accounting Branch (including Foreign Branch) and Departmental […]