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CA IPCC : Sample / Mock Test Paper (with Model Answers) - BUSINESS LAWS, ETHICS & COMMUNICATION Oct 2014

16 pages, 33 questions, 1 questions with responses, 1 total responses,

CA IPCC
Tilak Vidyalaya Higher Secondary School (TVHSS), Kallidaikurichi

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Test Series : October, 2014 Mock Test Paper 2 INTERMEDIATE (IPC): GROUP I PAPER 2: BUSINESS LAWS, ETHICS AND COMMUNICATION Question No.1 is compulsory. Attempt any five questions from the remaining six questions. Time Allowed 3 Hours 1. Maximum Marks 100 (a) Mr. X authorises Y to buy 500 bags of wheat for him. Y buys 500 bags of wheat and 200 bags of rice for a sum of Rs. 10,000. State the legal position of X, whether he is liable for the transaction of Y, in the given case as per the Indian Contract Act, 1872. (5 Marks) (b) Under what circumstances a company becomes subsidiary of another company under the provisions of the Companies Act, 2013? (5 Marks) (c) Explain the benefits of business ethics with respect to the following: (i) Ethics programs help to manage values associated with quality management, strategic planning and diversity management. (ii) Ethics programs help guarantee that personnel policies are legal. (d) State the merits of the grapevine phenomenon? 2. (a) (i) (5 Marks) (5 Marks) The management of X Ltd. entered into an agreement with their employees to pay them bonus based on production in lieu of Bonus based on profits, for the accounting year 2014. The employees further agreed to forego their right to receive minimum bonus and instead accept 25% of their salary/wage as bonus based on productivity. Is such an agreement valid? Examine in the light of the provisions of the Payment of Bonus Act, 1965. (4 Marks) (ii) Explain the manner in which the gratuity payable to employees in a seasonal as well as other establishments is calculated under the Payment of Gratuity Act, 1972. State also the maximum amount of gratuity payable under the Act. (4 Marks) (b) What is CSR? How adoption of CSR in business may minimise ecological damage. (4 Marks) (c) Why is the 'critical thinking' important part of success and wisdom. How one can (4 Marks) develop the critical thinking in a right direction. The Institute of Chartered Accountants of India

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