Which of the following is a feature of the Indian Financial System?
A. It is entirely unregulated
B. It only includes commercial banks
C. It does not include capital markets
D. It consists of both organized and unorganized sectors
Answer: Option D
Solution (By JKSSB Mock Tests)
The Indian Financial System comprises both the organized sector (RBI, banks, stock exchanges) and the unorganized sector (moneylenders, indigenous bankers).
Explanation:
Margin of Safety = Actual Sales - BEP Sales. 20% of 5,00,000 = 1,00,000. Therefore, BEP Sales = Actual Sales - MOS = 5,00,000 - 1,00,000 = ₹4,00,000.
S1: Under GST, the 'Time of Supply' for goods supplied on an approval basis is 6 months from the date of removal. S2: If the goods are not rejected within 6 months, the time of supply is the date of removal. Which statement(s) is/are correct?
Explanation:
Section 12(6) of the CGST Act states that for supply on approval, the time of supply is 6 months from the date of removal, or the date of invoice if earlier. If not rejected within 6 months, it is the date of removal. Both are correct.
Explanation:
The landmark ruling states that a capital loss due to insolvency must be borne by solvent partners in proportion to their last agreed capitals.
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