Question
Which of the following is not an essential party to the
creation of a valid trust?Solution
Under the Indian Trusts Act, 1882, a valid trust requires: • An author of the trust (also known as settlor) – [Section 3] • A trustee • A beneficiary • A trust property • A lawful purpose and clear intention to create a trust There is no requirement for a "Registrar of Trusts" in the statutory formation of a private trust under the Indian Trusts Act. While registration may be required under other laws (like the Registration Act, 1908), the Registrar is not a party to the trust deed.
Which of the following is a key assumption in the Simplified Turnover Method for assessing working capital?
The spot rate of USDINR on 1st January 2023 is 83.78. If the spot rate moves to 85.06 on 6th Sep 2023, which of the following is correct about the INR?
What category did India achieve in the FATF Mutual Evaluation?
What relationship exists between the average collection period and accounts receivable turnover?
The Reverse Repo Rate is used by RBI to:
What does first ‘P’ in the security instrument PNCPS, stand for?
What does MRR stand for?
A Put Option is:
Under the MSMED Act, 2006, what is the interest rate that a buyer must pay to an MSME supplier if payment is delayed beyond the agreed date?
When net sales for the year are ₹ 2,50,000 and debtors ₹ 50,000, the average collection period is:
