Question
Why was the Simon Commission, established in 1927,
boycotted by the Indian National Congress?Solution
The Simon Commission, also known as the Indian Statutory Commission, consisted entirely of British members, with no Indian representation. This exclusion was seen as a direct affront to Indian self-respect and an attempt to undermine the demand for self-governance. The Indian National Congress formally decided to boycott the commission during its Madras session in 1927. The absence of Indian members highlighted the colonial disregard for Indian aspirations for autonomy.
A bill of exchange drawn on 15th March for 2 months will mature on:
A bill of ₹50,000 discounted @12% p.a. for 3 months. Bank discount = ?
If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.4,00,000 and Income tax rate is 30%, what will be the op...
The party who is entitled to receive the payment of a bill of exchange is called the:
Mr. A draws a bill of exchange for ₹1,00,000 on Mr. B for 90 days. Mr. B accepts it and it is discounted by Mr. A from the bank. On maturity, Mr. B fa...
Noting charges are ultimately borne by the:
Accounts relating to income, revenue, gain expenses, and losses are termed as:
The term 'Days of Grace' in relation to a bill of exchange refers to:
When a bill is discounted with the bank, the party that bears the loss if the bill is dishonored at maturity is the:
When a bill is dishonored, the drawer's account is debited in the books of the drawee because:
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