CA Foundation

What are the limitations of a Free enterprise system?
  • a)
    High taxation and less incentive to work hard
  • b)
    There are no limitations
  • c)
    Restrictions on personal freedoms 
  • d)
    Uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products
Correct answer is option 'D'. Can you explain this answer?

PAYAL SURESH GOKHE answered  •  4 hours ago
Correct Answer :- D
Explanation : A free enterprise system, or capitalism, has the specific downfall of uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products. The main goal of the capitalist world is to allow anyone to get up to the top of the world by their own efforts. In reality, only a few people do that.
This is mainly because the resources are expensive. If there are people that have it all, they can get it for cheap because they can make the purchase that will last for a long while before they have to buy it again.
However, capitalism is all about the money! If you can make money on it, then that’s all you need to worry about it. For this reason, companies made it incredibly hard to find information about their products way back in the day. Nowadays, that’s not too hard to find.

The total of the Sales Book is posted to
  • a)
    The credit of the Sales Account.
  • b)
    Credit of the Purchases Account,
  • c)
    Credit of the Capital Account
  • d)
    None of the above
Correct answer is option 'A'. Can you explain this answer?

Sanjana Shetty answered  •  4 hours ago
Sales book is a subsidiary book that records all the credit sales of the goods. It is totalled normally on a monthly basis and the total will be posted to the credit side of  the Sales A/c. The total of the Sales book is not entered but posted to the Sales A/c because it is transferred from the sales book.

Total of the Purchase Return Book is posted to the ______ side of Purchase Return Account in the ledger:
  • a)
    Debit 
  • b)
    Credit 
  • c)
    No where
  • d)
    None of these.
Correct answer is option 'B'. Can you explain this answer?

KASHMEERA B SASEENDRAN answered  •  4 hours ago
Purchase return day book is also called as Purchase return book or Purchase return journal or Purchase return register. All purchase return vouchers are recorded in purchase return day book. The totals of purchase returns book is posted to the ledger on credit side of the Purchases return A/c.

Total of Sales Book will be posted :
  • a)
    In Debit side of Sales Account 
  • b)
    In Credit side of purchases account 
  • c)
    In Credit side of Sales Account 
  • d)
    In Debit side of Sales return account 
Correct answer is option 'C'. Can you explain this answer?

BHAGYASHREE DATTA MANE answered  •  4 hours ago
Sales book is a subsidiary book that records all the credit sales of the goods. It is totalled normally on a monthly basis and the total will be posted to the credit side of  the Sales A/c. The total of the Sales book is not entered but posted to the Sales A/c because it is transferred from the sales book.

Among the examinees in a examination 30% 35% and 45% failed in statistics, in mathematics and in at least some of the subjects respectively. An examinee is selected at a random. Find the probability that he failed in mathemat... more

Srushti Zadrao answered  •  4 hours ago
P(s) = 30% ; p(M) = 35% ;
p(s or m) = 45%
p(s or m) = p(S) + P(M) - p(s and m)
45% = 30% + 35% - p(s and m)
p(s and m) = 65%- 45% = 20%

probability that he failed in mathematics only is p(M or S')
P( M OR S') = P(M) - P( M OR S)
P(M OR S') = 35% - 20% = 15%= 0.15

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Which company shares can be freely transferable 
  • a)
    Private Company 
  • b)
    Public Company 
  • c)
    Both (a) & (b) 
  • d)
    None of the above
Correct answer is option 'A'. Can you explain this answer?

Srinivasa Rao Kondaveeti answered  •  6 hours ago
The provision contained in the law for free transferability of shares in a public limited company is founded on the principle that the members of the public must have the freedom to purchase and,every shares holder,the freedom to transfer.
HENCE the correct option is public company

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A contract made by mistake about the India Law, is
  • a)
    void
  • b)
    valid
  • c)
    voidable
  • d)
    illegal
Correct answer is option 'B'. Can you explain this answer?

Tirshaa V answered  •  9 hours ago
According to section 21 of the Indian contract act, 1872 any contract entered into in ignorance of Indian law is not an excuse at all therefore option b is the correct answer, but if the party was induced to enter into the contract by mistake of law then such contract can be avoided .

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