Question
Consider the following statements with reference to the
Policy of Doctrine of Lapse: 1. It gave power to the British to deal with the succession of Hindu Indian states. 2. Satara and Nagpur were annexed under the policy. Which of the statements given above is/are correct?Solution
● Statement 1 is correct: Doctrine of Lapse - According to this doctrine, the adopted son could not be the heir to the state owned by his foster father. His claim was limited to his private property only. The decision of inheritance was dependent on the paramount power (the British). The doctrine was justified by a claim that it is based on Hindu law and Indian customs, despite Hindu law being inconclusive on this point. Such annexation of the vassal by the sovereign was rare in Indian tradition. ● Statement 2 is correct: Under this doctrine 7 states including Satara (1848), Jhansi, and Nagpur (1854), Jaitpur (Bundelkhand), Sambhalpur (Orissa), and Baghat (Himachal Pradesh) were annexed under the Doctrine of Lapse.
In working capital management, the period of continuing flow of cash to suppliers, to inventories, to accounts receivable and back into cash is known as:
A company has the following capital structure:
• Equity: ₹60,00,000 (Cost of Equity = 15%)
• Debt: ₹40,00,000 (Pre-tax cost = 10%)...
A solvency margin breach is cured via capital infusion after reporting date but before approval. How to report?
Which person can be appointed as an agent?
We can say that the business is in profit, when:
Number of days in a month for purposes of computing taxable gratuity in case the employee is covered under the Payment of gratuity Act, 1972, are?
XYZ Ltd. reported a net profit of ₹120 lakhs for the year ended 31st March 2025. The depreciation for the year was ₹20 lakhs, and amortization of go...
According to the Standards of Auditing, the "Documentation" aspect is dealt with:
Which of the following is classified as financing cash flow?
Calculate the Current ratio based on above information?
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