Question
Who can create a trust under the Indian Trusts Act, 1882?
Solution
Section 7 of the Indian Trusts Act, 1882, specifies that a person competent to contract under the Indian Contract Act, 1872, can create a trust. A minor, being incompetent to contract, cannot create a trust, but a company can do so if permitted by its memorandum of association.
More Cost of Capital and Business Valuations Questions
- Management accounting can assist the management by provision of relevant information for __________
- Which of the following is not a component of M arginal Cost of Funds based lending rate (M CLR ), used by the banks to price the loans they extend ? ...
- RST Ltd’s has the following information Sales = 300000 Cost of Goods Sold = Rs 140000 Pre-Interest Operating Expenses = Rs 30000 Interest Expenses = ...
- If cost of equity is 15% with weight 1/3 and cost of debt is 10% with weight 2/3, calculate weighted average cost of capital. Rate of tax is 32%?
- The process of accounting for cost which begins with the recording of income and expenditure or the bases on which they are calculated and ends with the pr...
- Which of the following do not fall under the scope of Cost Accounting?
- What will be the BEP in units when the sales price is Rs.40 per unit, fixed cost is Rs.60000 and the PV ratio is 40%?
- Which of the following correctly describes the scope of cost accounting?
- Calculate the Material Price variance, if Material Cost variance is 24000 (F) and the Material Usage variance is 29750 (F).
- Which among the following profitability level is the profit from which the fixed costs are to be recovered first to arrive at the profit?
