MCQOPTIONS
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MCQOPTIONS
This section includes 209 Mcqs, each offering curated multiple-choice questions to sharpen your Cost Accounting knowledge and support exam preparation. Choose a topic below to get started.
| 201. |
When the offers made by two persons to each other containing similar terms of bargain cross each other in post, they are known as |
| A. | Cross offers |
| B. | Implied offers |
| C. | Direct offers |
| D. | Expressed offers |
| Answer» B. Implied offers | |
| 202. |
Sections 4 and 5 of the Indian Contract Act provide for communication of offer and acceptance and revocation thereof. In this relation, which one of the following is not correct? |
| A. | Communication of offer is complete when it reaches the offeree |
| B. | Revocation of acceptance is complete when acceptance is posted in favour of the proposer |
| C. | A Proposal may by revoked any time before communication of acceptance |
| D. | Acceptance may be revoked any time before communication of acceptance |
| Answer» E. | |
| 203. |
An acceptance will be revoked at any time before the communication of acceptance is complete against the acceptor, but not afterwards |
| A. | True |
| B. | False |
| C. | Acceptance once given cannot be revoked |
| D. | Acceptance can be revoked at any time |
| Answer» B. False | |
| 204. |
Where no time is expressly stated for its duration and there is no contract to fix the duration, the partnership may be terminated at a moment's notice by the other party. This partnership is called - |
| A. | Joint Venture |
| B. | Partnership at will |
| C. | Particular partnership |
| D. | Co-partnership |
| Answer» C. Particular partnership | |
| 205. |
A minor enters into agreement representing himself to be a major consider the following statement: 1. Minor commits fraud if the other party does not have personal knowledge of his age 2. Such agreement is not enforceable 3. The doctrine of estoppel does not apply in minor's case 4. Other party is entitled to get back the benefit passed to minor, if innocent about his age Which of the statements given above are correct? |
| A. | 1,3 and 4 |
| B. | 2 and 3 |
| C. | 1,2 and 4 |
| D. | 2 and 4 |
| Answer» C. 1,2 and 4 | |
| 206. |
A and B contract to marry each other before the time fixed for the marriage. A goes mad. The contract becomes: |
| A. | Void |
| B. | Voidable |
| C. | Unenforceable |
| D. | None of these |
| Answer» B. Voidable | |
| 207. |
A promised to marry none else than Miss B and in default to pay her a sum of ` 1,000. Subsequently A married Miss C and Miss B sued for recovery of ` 1,000. The contract is |
| A. | Valid |
| B. | Void |
| C. | Voidable |
| D. | Enforceable |
| Answer» C. Voidable | |
| 208. |
A promised to marry B and none else and promised her to pay a sum of `5000 in addition to what he gets from the other party if he marries someone else. A marries C and gets ` 10,000 from C. B can get from A |
| A. | ` 15,000 |
| B. | ` 10,000 |
| C. | Nothing |
| D. | ` 15,000 plus damages |
| Answer» D. ` 15,000 plus damages | |
| 209. |
Consider the following statements: 1. There is no difference between the English law and Indian law with regard to acceptance through post. 2. Both under the English law and the Indian law a contract is concluded when the letter of acceptance is posted 3. Under the Indian law when the letter of acceptance is posted it is complete only as against the proposer. 4. It is complete only as against the proposer. Which of the above statements is/are correct? |
| A. | 1 and 2 |
| B. | 2 alone |
| C. | 3 alone |
| D. | None |
| Answer» D. None | |