Question : Securities Premium once received cannot be cancelled.

Option 1: True

Option 2: False

Option 3: Both

Option 4: None of the above

Question : Dissolution of firm and dissolution of partnership are two distinct legal concepts -

Option 1: True

Option 2: False

Option 3: May be True

Option 4: None of the above

Question : There are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the prop rite option from the options given below
(A) Both Assertion (A) and Reason (R) are true, but Reason (R) is the correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(C) Assertion (A) is false, but Reason ( R ) is true.
(D) Assertion (A) is true, but Reason (R) is false.
Question:
Assertion (A): Received amount of securities premium will not debited to securities premium reserve account, on forfeiture of shares.
Reason (R): Received amount of securities premium will be debited while writing off of certain type of capital loss or expenditure.

Option 1: A

Option 2: B

Option 3: C

Option 4: D

Question : Which of the following statement is correct?
Statement 1:Primary Market promotes capital formation directly.
Statement 2: Only buying of securities takes place in the Primary Market.

Option 1: Both are true 

Option 2: Both are false

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.

Question : Statement 1: Secondary market involves the trading of existing securities.

Statement 2: Secondary market involves the issuance of new securities to the public.

Option 1: Statement 1 is true, and statement 2 is true.
 

Option 2: Statement 1 is true, but statement 2 is false.
   

Option 3: Statement 1 is false, and statement 2 is true.

Option 4: Statement 1 is false, and statement 2 is false.

Question : Statement 1: Secondary market involves the trading of existing securities.

Statement 2: Secondary market involves the issuance of new securities to the public.

Option 1: Statement 1 is true, and statement 2 is true.
 

Option 2: Statement 1 is true, but statement 2 is false.
   

Option 3: Statement 1 is false, and statement 2 is true.

Option 4: Statement 1 is false, and statement 2 is false.