Business Law - Understand the Case and Suggest Measures Through Which Unions Can Improve the Conditions of Their Members. Also, Suggest How State Can Get Involved in Making the Life Better for Autorickshaw Drivers

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Business Law

1. Please give a practical example each of Contract of Indemnity and Contract of Guarantee. Also identify and highlight as to how these contracts, as quoted by you as examples, are different from each other. (10 Marks)

2. Please explain the Corporate Social Responsibility (CSR) obligation as enshrined under the Companies Act, 2013. Please quote at least two examples of CSR in recent times. (10 Marks)

3. Ms. Neha had purchased a Watch from a Showroom in Mumbai. Neha gifted the Watch to her college friend Ms. Rita who stays in Patna. The payment for the Watch was made by Neha. Rita on opening the Gift found the watch to be having a manufacturing defective

Questions

a) In this example, who is the Consumer as per the definition mentioned in Consumer Protection Act, 1986 and under which Section? Can Rita file a consumer complaint against the Watch Company? Explain with reasons? (5 Marks)

b) Explain the doctrine and its specific exception defined in Contract Act, 1872 which exponents that Rita is entitled to sue the Watch Company. (5 Marks)

Financial Accounting and Analysis

1. From the following balances extracted from the book of Alfa traders as on 31st March 2016, prepare the final accounts of the concern. (10 Marks)

Particulars Debit(Rs) Credit(Rs)

Capital Account 500000

Plant & Machinery 410000 

Opening Stock 25000 

Sundry Debtors 34200 

Cash in hand 5000 

Cash at Bank 48000 

Purchases 42000 

Sales 80000

Sundry Creditors 20500

Drawings 5200 

Rent 6000 

Factory Lighting & Heating 5000 

Advertising 10500 

Bad Debts 15000 

Discount Received 5400

TOTAL (Rs) 605900 605900

The following adjustments are to be made:

a. Closing Stock Rs.50600

b. Rent due but not paid upto 31st March 2016 Rs.500

c. Advertisement paid in advance Rs. 2000

d. Depreciate plant & machinery by...