Question
Rahul makes a contract with Ajay to beat his business
competitor. This is an example ofSolution
Contract Act An illegal agreement is forbidden by law (as per section 23 of the Indian Contract Act, 1872). Agreements are said to be illegal if the performance or formation of the agreement causes the parties to engage in activity that is illegal. The illegality must relate directly to the subject matter creation of the contract and not some intervening circumstance. An illegal agreement is not a contract at all, and courts will not enforce them. Thus, they are said to be “forbidden by law” or “unenforceable”.
GH Ltd took a term loan of Rs.24 crore for a period of 20 years to be repaid in equal annual instalments. The interest is 10% p.a. on reducing balance. ...
If net income is â‚ą10 lakh and number of equity shares is 2 lakh, what is the EPS?
Which of the following statements about Mortgage are not true?
1.   Under a mortgage, the legal ownership of the asset can be transferred ...
Under which of the following head will repayment of loan be shown in a cash flow statement?
The PBT of a company is 2,00,000, preference dividend Rs.25,000, and taxes paid Rs.15,000. The number of equity shares is 1,00,000. The earnings per sha...
A company has current assets â‚ą6,00,000, inventory â‚ą2,50,000, prepaid expenses â‚ą50,000, and current liabilities â‚ą3,00,000. Calculate the quick ra...
 Which of the following ratios is very important to assess the eligibility of a borrower for a Term Loan?
The ratio of a firm’s property, plant, and equipment, net of accumulated depreciation, to its annual depreciation expense is an estimate of:
Which of the following statement is true regarding standard costing?
All its JV IT Ltd has total current assets worth â‚ą9,00,000, of which inventory is â‚ą2,00,000. Current liabilities stand at â‚ą5,60,000. What will be ...
