NTA-NET (Based on NTA-UGC) Commerce (Paper-II): Questions 1032 - 1036 of 1264

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Question number: 1032

» Business Management » Principles of Management

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MCQ▾

Question

A owes money to B under a contract. It is agreed between A, B and C that B should accept C as his debtor, instead of A. The old debt of A and B is at an end and a new debt from C to B has been contracted. The agreement is discharged by which mode?

Choices

Choice (4) Response

a.

Alteration

b.

Rescission

c.

Novation

d.

Remission

Question number: 1033

» Business Statistics and Data Processing » Uni-Varite Analysis » Measures of Central Tendency (New 2019)

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MCQ▾

Question

Standard price of material per kg is Rs. 20, standard usage per unit of production is 5 kg. Actual usage of production 100 units is 520 kgs, all of which was purchase at the rate of Rs. 22 per kg. Material usage variance is

Choices

Choice (4) Response

a.

(F)

b.

(A)

c.

(A)

d.

(F)

Question number: 1034

» Income-Tax Law and Tax Planning » Basic Concepts

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MCQ▾

Question

On the occasion of marriage of A, he received a gift of ` 65,000 from a relative. Such amount shall be-

Choices

Choice (4) Response

a.

Not taxable

b.

Taxable

c.

Taxable subject to standard deduction of 50%

d.

None of the above

Question number: 1035

» Banking and Financial Institutions » Digitalisation of Banking : Internet Banking, Mobile Banking, Digital Payment System » (New 2019)

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MCQ▾

Question

Which of the following is digital payment methods in India?

1) Banking cards

2) USSD

3) AEPS

4) UPI

Choices

Choice (4) Response

a.

3 And 4 Only

b.

1 And 2 Only

c.

Both a. and b. are correct

d.

Question does not provide sufficient data or is vague

Question number: 1036

» Financial and Management Accounting » Partnership Accounts » Admission

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Essay Question▾

Describe in Detail

Admission of Partners: Valuation of Goodwill, Classes of Goodwill

Explanation

  • According to Partnership Act, 1932, a partnership is “the relation between persons who have agreed to share the profits of a business carried by all or one of them acting for all. “

  • The elements of partnership can be said as follows:

    • It is outcome of agreement between two or more people.

    • Agreement is for sharing profits and losses of

… (954 more words) …

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