Question:

When a professional promotes a position or opinion to such extent that someobjectivity may have to be compromised, this threat is known as

A.

Familiarity threat

B.

Objectivity threat

C.

Advocacy threat

D.

Intimidation threat

Answer» c. Advocacy threat

Question:

Where a company issues shares with differential right, the _____ should be maintainedunder Section 88 of Companies Act, 2013.

A.

List of share-holders

B.

Register of shares

C.

Register of Members

D.

List of shares

Answer» c. Register of Members

Question:

If there is any mis-statement in the prospectus then it would attract the liability on

A.

The printer

B.

The issuer

C.

The publisher

D.

The proof-reader

Answer» b. The issuer

Question:

Under Payment of Bonus Act, 1965, in disputed cases, bonus must be paid

A.

Within 8 months from the close of the accounting year.

B.

Within 1 month from the date on which the award becomes enforceable.

C.

Within 2 months from the date on which the award becomes enforceable.

D.

Within 6 months from the date of closing of the accounting year.

Answer» b. Within 1 month from the date on which the award becomes enforceable.

Question:

Which of the following is not to be taken care while admitting a new partner?

A.

Computation of newprofit sharing ratio and sacrifice ratio

B.

Accounting treatment of goodwill

C.

Professional qualification of admitting partner

D.

Revaluation of assets and liabilities

Answer» c. Professional qualification of admitting partner

Question:

When an instrument is drawn conditionally or for a special purpose as a collateral security and not for the purpose of transferring property therein, it is called

A.

Ambiguous

B.

Inchoate

C.

Escrow

D.

Inland

Answer» c. Escrow

Question:

Which one cannot be transacted through postal ballot?

A.

Appointment of auditor

B.

Election of a Director

C.

Buy back of shares by a company

D.

Change in place of registered office outside the local limits of any city, town or

Answer» a. Appointment of auditor

Question:

Who is an Adolescent as per Factories Act, 1948?

A.

Who has completed 17 years of age

B.

Who is less than 18 years

C.

Who has completed 15 years but less than 18 years

D.

None of these

Answer» c. Who has completed 15 years but less than 18 years

Question:

When a partnership firm is continued even after the expiry of fixed term is called

A.

Perpetual partnership

B.

Fixed partnership

C.

Contract partnership

D.

Partnership at will

Answer» d. Partnership at will

Question:

In a sale of goods, the doctrine of caveat emptor will not apply when there is

A.

usage of trade

B.

consent by fraud

C.

buyers’ error of judgment

D.

Merchantable Quality

Answer» d. Merchantable Quality