A :ITC, a tobacco company , has decided to withdraw from all sponsorship of sporting activities. B:The center has decided to bring in legislation for banning sponsoring of sports and cultural events by tobacco companies.

Consider the following statements:
Whenever the question is whether a State Legislation has encroached upon the field of the Union Legislation, the Court will decide the competence of the Legislature and validity, of such legislation by applying
1. Repugnancy
2. Colourable legislation
3. Pith and substance
4. Harmonious construction
Which of the statements given above is/are correct?

A

1 and 2

B

1 only

C

3 only

D

3 and 4

In the interest of consumers, Parliament enacted a legislation imposing certain restrictions on the press including page ceiling, price, and advertisements. In order to avoid any challenge to the legislation under Part III of the Constitution of India, the legislation was included in the Ninth Schedule to the Constitution. The legislation is

A

Invalid because the press should be left on its own without any restriction

B

Invalid because the matter relates to a subject which requires a state legislation

C

Invalid despite its inclusion in the Ninth Schedule as it violates the freedom of press which is a basic feature of the Constitution of India

D

Valid as it enjoys immunity under Article 31B of the Constitution of India

Which of the following activities should be shown separately in the cash flow statement prepared as per accounting standard-3?
I. Cash flow from borrowing activities.
II. Cash flow from operating activities.
III. Cash flow from financing activities.
IV. Cash flow from investing activities.
V. Cash flow from miscellaneous activities.

A

I, II and III

B

I, III and V

C

II, III and IV

D

I, IV and V

ITC sells one product at a profit of 20% another at a loss of 20% at the same selling price. What is the loss incurred by ITC?

A

1%

B

2%

C

4%

D

0%

Which of the following is/are features of the sports policy 2009 of Punjab?
1. To develop sports culture in the state.
2. To create sports infrastructure and sports facilities at village and block level.
3. To set up a Punjab institute of sports, at Jalandhar.
Which of the statement(s) given above is/are correct?

A

Only 1

B

Only 2

C

1 and 3

D

All of the above

A delegated legislation can be challenged in a court not only on all grounds on which the validity of a legislation can be challenged but also on some more grounds. Point out the ground on which the validity of a legislation can not be challenged.

A

Ultra vires the Constitution

B

Violation of fundamental rights

C

Non-compliance with Article 304(b) of the Constitution of India

D

Non-compliance with the principles of natural justice

In the question two statements are given, followed by two conclusions, I and II. You have to consider the statements to be true even if it seems to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statement I: No cigars are cigarettes Statement II: All tobacco are cigars Conclusion I: Some cigarettes are tobacco Conclusion II: No tobacco are cigarettes

A

Only conclusion I follows

B

Only conclusion II follows

C

Both conclusions I and II follow

D

Neither conclusion I nor conclusion II follows

Which of the following is true for labour legislation and Indian Constitution?
1. Articles 38, 39, 41, 42, 43B, 43C of Chapter-IV are related with labour legislation.
2. Articles 14, 16, 19, 23 and 24 of Chapter III are related with labour legislation.
3. Regulation of labour and safety in mines and oil-fields are item number 55 on the concurrent list.
4. Article 43A of the Indian Constitution deals with participation of workers in management of industries.

A

1, 2, 3 and 4

B

2, 3 and 4

C

Both 2 and 4

D

1, 2 and 3

Statement : The Company X has rejected first lot of values supplied by Company A and has cancelled its entire huge order quoting use of inferior quality material and poor craftsmanship.

Courses of Action :
I. The Company A needs to investigate functioning of its purchase, production and quality control departments.
II. The Company A should inspect all the valves rejected by Company X.
III. The Company A should inform Company X that steps have been taken for improvement and renegotiate schedule of supply.

A

Only I and II follow

B

Only II follows

C

II, and either I or III follow

D

All I, II and III follow

E

None of these

Which of the following activities should be shown separately in the cash flow statement prepared as per Accounting Standard-3?
1. Cash flow from borrowing activities
2. Cash flow from operating activities
3. Cash flow from financing activities
4. Cash flow from investing activities
5. Cash flow from miscellaneous activitie

A

1, 2 and 3

B

1, 3 and 5

C

1, 3 and 4

D

1, 2 and 5

A :ITC, a tobacco company , has decided to withdraw from all sponsorship of sporting activities. B:The center has decided to bring in legislation for banning sponsoring of sports and cultural events by tobacco companies.

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