1.For inland transport the business of the carriage to be only _______ transporting

		goods
		passengers
		all of above
		none of above

2.

Readiness of the ship is an implied condition for the carriage of goods by sea

		TRUE
		False
		all of above
		none of above

3.

The contract may be rescinded by

		Aggrieved party
		Court
		Either (a) or (b)
		None of the above

4.

The essence of Liquidated damages is that is should be

		genuine pre-estimate of damages
		more than probable damages
		less than probable damages
		any of the above

5.

If income from Salary is 800,000 and income from business is 400,000, that individual will be classfied as __________"

		Salaried Individual
		Business Individual
		Investor
		None of Above

6.

A minor, though incompetent to contract"

		can act as an Agent
		Can bind his principal
		Either (a) or (b)
		Both (a) and (b)

7.

A minor can

		Ratify his agreement after attaining majority
		Be directed by the Court for specific performance of the contract
		Always plead his minority
		Be held liable for cheques issued by him

8.

Tax rates on Income from Salary are different then Tax Rates on Income from Business

True

False

9.

The Tax Year starting from January 01, 2016 and ending on December 31, 2016 is a Normal Tax Year"

True

False

10.

"The Tax Year starting from October 01, 2016 and ending on September 30, 2017 is a Normal Tax Year"

True

False

Answer rating: 100% (QA)

1 Answer correct option a Good Inland navigation is a transport system allowing ships and barges to use inland waterways such as canals rivers and lak... View the full answer