Question
On the basis of the decision of the Court in the case of
Balfour v. Balfour which of the following are correct____________Solution
In this case it was held that there was only a domestic arrangement between the parties and not a contract because domestic arrangements are outside the realm of the contract. Therefore, a contract cannot be enforceable by nature if the parties to the same do not intend to create legal relations with each other.
In a growing economy, an initial rise in autonomous investment leads to an increase in income through repeated consumption spending. The higher income f...
How are fictitious assets treated in the balance sheet under Indian GAAP?
1.   Given the following, what is the amount of Capital?
Assets: Premises 20,000; Inventory 8,500; Cash 100.
Liabilities: Trade Payab...
A company earns ₹18,00,000 in revenue and incurs expenses of ₹4,00,000 in salaries, ₹6,00,000 in cost of goods sold, ₹1,00,000 in rent, ₹3,00,...
As consumers’ income rises, the demand for branded packaged foods, eating out at restaurants, and premium clothing increases proportionately. The inco...
If two alternative proposals are such that the acceptance of one shall exclude the possibility of the acceptance of another then such decision making w...
While finalizing the current year's profit, the company realized that there was an error in the valuation of closing Inventory of the previous year. In ...
What is the initial corpus of the Agri-SURE fund unveiled by NABARD to promote innovation in agriculture and rural development?
A company forfeited 200 shares of ₹10 each, on which ₹7 was called up and the shareholder had paid ₹4 per share. What amount will be credited to t...
Where are ethical standards typically based?
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