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 reflects a sign of strong corporate governance practices?
At what level of an organisation does a corporate manager operate?
Sales = ₹200 lakhs, Variable cost = ₹120 lakhs, Fixed cost = ₹30 lakhs
Interest = ₹10 lakhs
Calculate (i) Operating Leverage and (...
According to RBI’s circular on External Benchmark Based Lending, which of the following is not listed as an eligible external benchmark?
Which of the following errors will not affect the trial balance?
Parent Ltd. owns 80% of Subsidiary Ltd. The subsidiary reports a profit of ₹10 lakh during the year. How much of this profit should be added to consol...
XYZ Ltd. purchases raw materials for ₹5,00,000 and pays transportation charges of ₹50,000 and GST of ₹90,000. The GST is recoverable. What amount ...
Parent Ltd. acquired 80% of Subsidiary Ltd. on 1st April 2023. At the time of acquisition, the subsidiary’s retained earnings were Rs. 5,00,000. On 31...
The GST on used car sales is ____ as per the 55th GST council meeting decisions taken in December 2024.
Economic life of an enterprise is split into the periodic interval as per which concept?
