Question
According to Austin’s theory of law, which of the
following is not a feature of a law properly so called?Solution
John Austin, a leading proponent of the analytical school, defined law as the command of the sovereign, backed by sanctions, and intended to be obeyed. According to Austin: • Laws are not derived from customs or morality. • Customs are not “laws properly so called” unless recognized by the sovereign authority. Hence, Option D contradicts Austin's definition of law.
If a firm has 100 in inventories, a current ratio equal to 1.2, and a quick ratio equal to 1.1, what is the firm's Net Working Capital? Â
Under The Foreign Exchange Management Act, 1999, which of the following correctly describes the treatment of current account transactions?
For an NBFC-MFI (Microfinance Institution), what is the minimum proportion of its assets that must be in the form of microfinance loans?
A firm budgeted sales of â‚ą120 lakh but achieved actual sales of â‚ą100 lakh. Variable cost was budgeted at 60% of sales, and actual cost was 62% of ac...
What is the minimum duration for which a Small Account can remain operational after opening, if the account holder has not furnished any Officially Vali...
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than ______, except ...
In the context of MSMEs, what does SMAS stand for?
Why proper documentation is essential while conducting executing the mergers and amalgamations?
___________, the greater will be its social prestige.
Viability Gap Funding (VGF) is primarily associated with which type of projects?
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