Forums
Pledge
Corporate & Other Laws
answered on 09-Jun-23 08:34
Can someone explain " Right to Redeem Sec.177 " with an example.
latest answer
For example: Mr.A pledged his watch worth RS.5000 for his payment of debt to Mr.B. If Mr.A makes default of debt, Mr.B can sell that watch and get the money. Now coming to the provision u/s 177. What it says is, now Mr.A can get back the watch before sale but he must compensate Mr.B with the money.
CYNOPHILE S
CA Inter
★ 925
1
384
S 20 in the Indian Partnership Act 1932
Corporate & Other Laws
answered on 08-Jun-23 19:55
"Notwithstanding any such restriction, any act done by a partner on behalf of the firm which falls within his implied authority binds the firm, unless the person with whom he is dealing knows of the restriction or does not know or believe that partner to be a partner" I understand that an act done by a partner beyond his authority is binding on the firm unless the third party knows of the restriction or does not know that he is a partner. However, the above statement is framed such that it says "acts within implied authority are binding unless...". I am confused because of this. is my understanding correct or is something wrong?
latest answer
Notwithstanding any such restriction, any act done by a partner on behalf of the firm which falls within his implied authority binds the firm, unless the person with whom he is dealing knows of the restriction or does not know or believe that partner to be a partner The Above Statement can be explained through example For Example ABC Is partnership firm with partners A,B,C in there partnership deed they mentioned that B,C can do credit purchase to extent of Cash 1,00,000 each beyond must require principal partner "A" Sign. Like this it goes on and the creditor who give goods on credit also know this One Day A the pricipal partner reduced the amount of credit purchase from 1,00,000 to 75,000.but they did not mention anywhere.Now B Purchased for 80,000 here shop keeper doen't know about change.So in this case it is belived within implied authority and here firm only liable to partners But internally B will be liable to to Firm
Vishnu Muraleedharan
CA Final
★ 32K+
1
969
mock paper 100A
Others
answered on 08-Jun-23 21:51
can i write the answers for business law and bcr in an A4 size plain paper? and submit it to the mail for evaluation?
latest answer
We can suggest that you can write in Ruled book Bocz in exam you will get ruled booklet foundation So according so the needful!!
Muhesh YM
CA Inter
★ 0
2
461
Risk Assessment Procedure and Audit Plan.
Auditing
answered on 08-Jun-23 20:39
As per SA 300 , Planning Audit Of Financial Statements ; Knowledge of Client Business is required. We understand Nature of Industry at Macro Level and at micro , we understand It's operations , Capital Structure and Investments including Ownership. Further , Measurement and Review of Financial Performance and Accounting Policies adopted is undertaken. Inherent Business Risks are also assessed. Further , RAP ( Risk Assessment Procedure ) deals in UNDERSTANDING OF :- I.) Entity II.) Environment III.) Internal Controls. Thus , Can We say That Audit Plan and Obtaining information with regard to Entity's business Fall under RAP ? ( Because Inter Connection Exists ) .
latest answer
And yes, understanding about the entity is through enquires, inspection of documents likes MOA etc, so we can call it to be RAP.
Varun Mulay
CA Final
★ 39K+
4
866
share and debenture
Corporate & Other Laws
answered on 08-Jun-23 15:42
whats is the purpose of authorised share capital ? it says tht how much money can the company raise from the public but that depends on the public how much will they pay and the amount of authorised share capital is decided by ROC or the Company itself ?
latest answer
thank you
Sushmita Chowdhury
CA Inter
★ 2K+
2
501
when money multiplier is zero
Economics
answered on 08-Jun-23 15:41
it says commercial banks do not give loans as interest rate is low but risk is high . my doubt is y cant commercial banks increase the interest rate and thn give loans
latest answer
They will increase rates for high risk loans. But they cannot keep increasing rates indefinitely.
Reetikaa R
CA Final
★ 7K+
1
629
share capital and debentures
Corporate & Other Laws
answered on 08-Jun-23 19:19
please anyone explain me the highlight line equity share holders get preference 1st in decision making of the company hence i didn't understand what it said about "post pref entitlement"
latest answer
thank you
Sushmita Chowdhury
CA Inter
★ 2K+
3
413
Redemption of preference shares
Accountancy
answered on 08-Jun-23 15:43
Here please tell whether to use 12 or 10 for dividing 6000 I think 12 because Securities premium only cannot be used for redemption of preference shares but premium on issue of debentures is a capital profit and credited to capital reserve a.c and Capital reserve can be used for redemption of preference shares and hence I used 12 Am I correct ??
latest answer
Thank you sir
Krishnan K
CA Inter
★ 5K+
5
580
International fm
AFM
answered on 08-Jun-23 19:36
In this computation of interest subsidy, shouldn't we account for tax benefit lost due to less interest paid, i.e. instead of 3 lakhs of subsidy 3(1-0.35) ?
latest answer
Firstly pls share the question number always - will revert faster The formula itself is defined as pre tax value of int subsidies disc at pre tax disc rate pls check page 10.4 https://resource.cdn.icai.org/67848bos54415-cp10.pdf
Lalit Sanpal
CA Final
★ 6K+
1
533
Bailment
Corporate & Other Laws
answered on 09-Jun-23 08:57
Bailor has given goods to bailee for a period of 10 days. Bailor has taken the goods back after 2 months. The bailee has actually incurred Rs.10,000 for safe custody of goods but demands for Rs.12500. Here the bailor will be liable to pay only Rs.10,000 right?
latest answer
Yes
CYNOPHILE S
CA Inter
★ 925
3
415