Question 1

How many members are needed to form a society?

Options :

A : One single person

B : Two or more

C : Five or more persons

D : Seven or more

Answer: C

Question 2

What is the quantum of deduction allowed u/s 80U?

Options :

A : Rs. 40,000

B : Rs. 75,000

C : Rs. 60,000

D : Rs. 55,000

Answer: D

Question 3

For claiming exemption u/s 546, the assessee shall acquire the new asset within

Options :

A : 2 years from the date of transfer

B : 3 years from the date of transfer

C : One year before or 2 years after the date of transfer

D : One year before or 3 years from the date of transfer

Answer: C

Question 4

The current dividend on an equity share of MAGADH Limited is Rs. 8.00 on earnings per share of Rs. 30.00. Assume that the growth rate of 15 per cent will decline linearly over a five year period and then stabilize at 10 per cent. What is the intrinsic value of MAGADH 's share if the investors' required rate of return is 15 per cent?

Options :

A : Rs. 196/-

B : Rs. 183/-

C : Rs. 116/-

D : Rs. 269/-

Answer: D

Question 5

Mrs. Meghana, a Hindu woman died without making a Will. She has left behind self-acquired property as well as property which she had got from her parents. Mrs. Meghana is survived by her husband and two children. According to the Hindu succession act 1956, how the whole property will be distributed and to whom it belongs?

Options :

A : Meghana-s husband and two children have equal rights (one-third each) on her self-acquired property

B : elf-acquired property as well as property which she had got from her parents shall be distributed in equal ratio to her husband and two children

C : Mrs. Meghana-s property which is acquired from her parents shall be distributed to her two children in equal ratio. Her husband does not have a right on such property

D : Both A and C of the above

Answer: D

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