Question
A property is mortgaged to 'A' for ₹50,000 and then to
'B' for ₹30,000. 'A' then advances a further ₹20,000 to the mortgagor. Under the Transfer of Property Act, does 'A' have priority over 'B' for the subsequent ₹20,000?Solution
Section 93 of the TPA which was inserted by the Amending Act of 1929, explicitly states that a prior mortgagee (A) cannot, in the absence of a contract to the contrary, tack a subsequent advance so as to acquire priority over an intermediate mortgagee (B) of whom they had notice.
Which of the following is not a type of cash book?
Read the following information to answer the below questions:
When a simplified customer due diligence (CDD) is carried out for opening accounts of foreign students, what is the maximum cap on foreign remittances p...
______ is a system that focuses on activities as the fundamental cost objects and uses the cost of these activities for compiling the costs of product...
…….. of an asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of di...
‘‘Interest accrued & due on debentures’’ is shown ...................... .
Which of the following is NOT a component of working capital?
Match the following:
The profit is 50% on sales. What is its percentage on cost?
The main objective of cost accounting is _______.
