This Paper has 50 answerable questions with 0 answered.
I–P6(CIA)
Syllabus 2008 |
| Time Allowed : 3 Hours | Full Marks : 100 |
| The figures in the margin on the right side indicate full marks. |
Answer Question No. 1 & Question No. 5 which are compulsory and attempt any two
from the rest in Section I and any two from rest in Section II |
SECTION I (Marks 50)
(Commercial and Industrial Laws) |
| Marks |
| 1. | Comment on the following statements based on legal provisions (No marks for wrong Reasons/Justification). | 2x7 | |
| | (a) | Gratuity can be attached in execution of a decree or order of any civil revenue or criminal court. | | (0) |
| | (b) | During 2001– 02, the number of employees were 50 and subsequently reduced to 10 during 2009–10. Employer discontinued deduction as EPF not applicable due to reduction of Employees. | | (0) |
| | (c) | Mr. Roy sells by auction, to Mr. Paul a cow which Mr. Roy knows to be unsound. Mr. Roy says nothing to Mr. Paul about the cow's unsoundness. This is a clear of fraud by Mr. Roy. | | (0) |
| | (d) | Sale and Agreement to sale are same. | | (0) |
| | (e) | Cheque for Rs. 2,00,000 issued by Mr. Nair was returned unpaid with remarks “account closed”. Hence drawee has no remedy. | | (0) |
| | (f) | Rights to information Act 2004 provides that Public Information Officer is required to furnish the Information within 15 days from the date of receipt of application with a fee of Rs. 50/–. | | (0) |
| | (g) | Mr. Tarafdar instruct Mr. Kinkar a merchant to buy a ship for him. Mr. Kinkar employs a renowned ship surveyor to choose a seaworthy ship for Mr. Tarafdar. The ship turns out to be un seaworthy and is lost. Mr. Kinkar, who is agent is responsible. | | (0) |
| 2. | (a) | Mr. ‘A’ agrees that Mr. A shall sell Mr. B a house for Rs. 1,00,000 but if Mr. B uses the house for ‘Gambling House’ then Mr. B shall pay Rs. 1,50,000 for the same. Explain the legality. | 2 | (0) |
| | (b) | A contract without adequate consideration is not a contract–offer your views. | 2 | (0) |
| | (c) | Discuss the position of Agent appointed by minor. | 2 | (0) |
| | (d) | An exchange of goods for goods is a sale. Comment with Rule position. | 2 | (0) |
| | (e) | When sale is complete in an Auction sale. | 2 | (0) |
| | (f) | Factories Act provides certain precaution measures in case of five–give details. | 4 | (0) |
| | (g) | Under what circumstances compensation is not payable (Workmens Compensation Act 1923.) | 4 | (0) |
| 3. | (a) | Write short notes on any four | 4x4 | |
| | | (i) | Undue influence | | (0) |
| | | (ii) | Right of resale | | (0) |
| | | (iii) | Industrial Disputes | | (0) |
| | | (iv) | Working hours for children | | (0) |
| | | (v) | Consumer (Consumer Protection Act 1986) | | (0) |
| | (b) | Give correct answer if the following statements are wrong:
A limited liability partnership must ensure that | (i) | Where a person becomes or ceases to be a member or designated member, notice is delivered to the Register within 30 days. |
| (ii) | Where there is any change in the name or address of a member, notice is delivered to the Registrar within 30 days. |
| 1+1 | (0) |
| 4. | (a) | Mr. Roy give Mr. Ghosh on hire, a horse for his own riding but Mr. Ghosh drives the horse in his carriage. What action Mr. Roy can take? | 2 | (0) |
| | (b) | A saved life of ‘B’, when ‘B‘ was drowning. Later ‘A‘ sued ‘B‘ for remuneration/reward because saving life was the consideration received by ‘B’ . State based on Rules whether ‘A’ would succeed? | 2 | (0) |
| | (c) | Sale and Bailment are same. Do you agree? | 4 | (0) |
| | (d) | Manager of the factory fixed the working hours of women from 6 p.m. to 1 a.m. during the period from Monday to Friday of first week of May 2010. Whether it is permissible, cite with Rule position. | 2 | (0) |
| | (e) | As per factories Act ‘First Aid Boxes’ shall be provided and maintained not less than one for every 200 workers ordinarily engaged. | 2 | (0) |
| | (f) | When and to whom gratuity is payable? | 4 | (0) |
| | (g) | What is negotiation? | 2 | (0) |
SECTION II (Marks 50)
(Auditing) |
| 5. | Comment on the following statements based on legal provisions(No marks for wrong reasons). | 2x7 | |
| | (a) | US GAAP is not different from India GAAP. | | (0) |
| | (b) | Auditor is not liable in case of honorary Audit. | | (0) |
| | (c) | Besides statutory Audit by Chartered Accountants, Comptroller and Auditor General of India conducts Audit of Government Companies. Hence Internal Audit is not necessary in Government Companies. | | (0) |
| | (d) | Cost Audit is submitted to the Company within 90 days from the end of Company's financial year. | | (0) |
| | (e) | Scope of management Audit is limited to review the Audit Reports of Statutory Auditor and Internal Auditor. | | (0) |
| | (f) | CARO is not applicable to Private Company. | | (0) |
| | (g) | To comply with CARO, Auditor is to comment in his Report on “Application of Term Loan”–comment. | | (0) |
| 6. | (a) | Find out the difference between US–GAAP and India–GAAP in respect of R & D | 4 | (0) |
| | (b) | What are the basic items/areas you will consider for review of Fixed Capital assets? | 4 | (0) |
| | (c) | State the matters that should be considered to determine the effects of computer information system environment on the Audit. | 4 | (0) |
| | (d) | Internal Check is said to have some fundamental aims. If so give details. | 4 | (0) |
| | (e) | Articles of Association of ABC Ltd. provides that Fixed Deposit Receipts should not be shown to the statutory Auditor. Accordingly Manager(Accounts) refused to show. State the legality. | 2 | (0) |
| 7. | (a) | A sum of Rs. 4,00,000 which was spent for Trial Production run was included in Production Cost. Give correct answer if this was wrong. | 2 | (0) |
| | (b) | What are the disclosure requirements if the assets of a company are revalued. | 2 | (0) |
| | (c) | Statutory Auditor is to give a certificate regarding compliance of corporate Governance which is annexed with the Director's Report. What are the documents and records to be checked by you before signing of such certificate. | 4 | (0) |
| | (d) | What are the control measures which the Auditor is concerned under computer information system. | 2 | (0) |
| | (e) | State what are the items to be verified for conducting “Stores Accounting”. | 4 | (0) |
| | (f) | How you will verify the interest received? | 4 | (0) |
| 8. | (a) | How you will verify Petty Cash? | 3 | (0) |
| | (b) | How you will verify provision for taxation? | 5 | (0) |
| | (c) | What is expected under the CARO regarding (a) Internal Audit and (b) Fraud. | 2+2 | (0) |
| | (d) | Under what circumstances, Auditor has to Qualify his report. | 4 | (0) |
| | (e) | Name the circumstances where in the management audit is useful. (Name 4 such circumstances) | 2 | (0) |
