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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :
- a)Barter
- b)Agreement to sale
- c)Executed contract of sale
- d)Sale
Correct answer is 'B'. Can you explain this answer?
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in ex...
**Explanation:**
The given scenario involves an exchange of goods and cash between two parties. Let's analyze each option to determine which one best describes the situation:
**a) Barter:**
In a barter system, goods are exchanged directly without the use of money. In this case, although goods are being exchanged, there is also cash involved. Thus, it cannot be considered as a barter.
**b) Agreement to Sale:**
An agreement to sale is a preliminary stage before the actual sale takes place. It is a contract where the seller agrees to transfer the ownership of goods to the buyer at a future date, subject to certain conditions. This option seems applicable to the given scenario as X agrees to deliver the computer sets in the future in exchange for the fridge sets and cash.
**c) Executed Contract of Sale:**
An executed contract of sale means that the sale transaction has already been completed, and the ownership of goods has been transferred from the seller to the buyer. In this case, the transaction is not yet completed as the delivery of computer sets is scheduled for the future. Therefore, it is not an executed contract of sale.
**d) Sale:**
A sale refers to the transfer of ownership of goods from the seller to the buyer in exchange for a price. While there is a transfer of goods and cash involved in this scenario, it is not an immediate transfer of ownership. The delivery of computer sets is yet to be made in the future. Hence, it cannot be considered a sale.
Based on the analysis, option **b) Agreement to Sale** is the most appropriate choice as it accurately describes the situation where X agrees to deliver the computer sets in the future in exchange for the fridge sets and cash.
The given scenario involves an exchange of goods and cash between two parties. Let's analyze each option to determine which one best describes the situation:
**a) Barter:**
In a barter system, goods are exchanged directly without the use of money. In this case, although goods are being exchanged, there is also cash involved. Thus, it cannot be considered as a barter.
**b) Agreement to Sale:**
An agreement to sale is a preliminary stage before the actual sale takes place. It is a contract where the seller agrees to transfer the ownership of goods to the buyer at a future date, subject to certain conditions. This option seems applicable to the given scenario as X agrees to deliver the computer sets in the future in exchange for the fridge sets and cash.
**c) Executed Contract of Sale:**
An executed contract of sale means that the sale transaction has already been completed, and the ownership of goods has been transferred from the seller to the buyer. In this case, the transaction is not yet completed as the delivery of computer sets is scheduled for the future. Therefore, it is not an executed contract of sale.
**d) Sale:**
A sale refers to the transfer of ownership of goods from the seller to the buyer in exchange for a price. While there is a transfer of goods and cash involved in this scenario, it is not an immediate transfer of ownership. The delivery of computer sets is yet to be made in the future. Hence, it cannot be considered a sale.
Based on the analysis, option **b) Agreement to Sale** is the most appropriate choice as it accurately describes the situation where X agrees to deliver the computer sets in the future in exchange for the fridge sets and cash.
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in ex...
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer?
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer?.
X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer?.
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer?, a detailed solution for X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer? has been provided alongside types of X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is 'B'. Can you explain this answer? theory, EduRev gives you an
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