ca foundation notes
MONEY MARKET QUESTIONS AND ANSWES 1. The money market deals in: A. Long-term fundsB. Medium-term fundsC. Short-term fundsD. All types of fundsAnswer: C. Short-term funds 2. Which of the following is not a money market instrument?A. Treasury billsB. Commercial paperC. SharesD. Certificates of depositAnswer: C. Shares 3. The major participant in the money market is: […]
Public finance – MCQs with answers 1. Which of the following is a union tax? a. Corporation taxb. Taxes on agricultural incomec. Capitation taxesd. Land revenues ANSWER: a. Corporation tax 2. Which of the following is not a union tax? a. Taxes on railway freights and faresb. Stamp duties on financial documentsc. Tollsd. A and […]
Determination Of National Income Select the right option which is used for measuring the National Income Income Method Product Method Expenditure Method All of the Above Answer D. All of the Above Which organisation is accountable for calculating the Gross Domestic Product of India? Indian Statistical Institute Reserve Bank of India National Statistical Office Ministry of […]
The Negotiable Instruments Act, 1881 Question 1.Define a Bill of Exchange. In what respect does ¡t differ from a cheque. (May 1998, 6 marks)ORPoint out the differences between a Cheque” and a “Bill of Exchange” under the Negotiable Instruments Act, 1881. (May 2011, 8 marks)Apswer:According to Section 5 of the Negotiable Instruments Act, 1881, a […]
Companies Act, 2013 – CA Foundation Business Law Study Material Question 1.What is meant by the lifting of the corporate veil? What are the instances in which the corporate veil may be lifted?ORThere are cases where company law disregards the principle of corporate personality or the principle that the company is a legal entity distinct […]
Limited Liability Partnership Act, 2008 – CA Foundation Business Law Study Material Question 1.What is meant by Limited Liability Partnership? What are its salient features/characteristics?Answer:An LLP is a new form of legal business entity with limited liability. It is a separate legal entity where LLP itself is liable to the third parties up to the […]
Registration of a Firm & Dissolution of a Firm – CA Foundation Business Law Study Material Question 1.What is the procedure of registration of the firm? Explain.Answer:The registration of a partnership is not compulsory. Therefore an unregistered firm is not an illegal association. But an unregistered firm suffers from certain disabilities and therefore registration is […]
Relations of Partners – CA Foundation Business Law Study Material Question 1.Explain the rights of a partner, under the Indian Partnership Act, 1932.Answer:Rights of partnersSubject to contract between the partners, the Partnership Act confers the following rights upon the partners of a firm: 1. Right to take part in the conduct of the business […]
General Nature of Partnership – CA Foundation Business Law Study Material Question 1.Define Partnership. Discuss the essential elements of Partnership.Answer:Section 4 of the Indian Partnership Act, 1932, lays down that “Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them […]
Unpaid Seller – CA Foundation Business Law Study Material Question 1.What are the rights of the buyer against the seller in case of breach of contract by him, under the provisions of the Sale of Goods Act, 1930?Answer:A buyer has the following rights against the seller for breach of contract under the Sale of Goods […]