Correct Answer:- Option-A

Question8:-Under which of the following conditions can a proposal be revoked
according to the Indian Contract Act 1872?

(1) By notice of revocation after the acceptance is communicated

(ii) By the failure of the acceptor to fulfill a condition of proposal

(iii) By the communication of notice of revocation by the proposer to the other
party

(iv) By death or insanity of the proposer

A:-(i), (ii), (iii), (iv)

B:-(ii) and (iii)

C:-(ii), (iii) and (iv)

D:-(iii) and (iv)

Correct Answer:- Option-C

Question9:-Statement |: Agreements without consideration is always valid
Statement II : All agreements are contracts but all contracts are not agreement

A:-Statement | is correct but Statement II is incorrect
B:-Statement | is incorrect but Statement II is correct
C:-Both the statements are correct

D:-Both the statements are incorrect

Correct Answer:- Option-D

Question10:-For every completed years of service or part thereof in excess of six
months, the employer shall pay gratuity to an employee at the rate of
days wages based on the rate of wages last drawn by the employee concerned

A:-25 days

B:-7 days

C:-30 days

D:-15 days

Correct Answer:- Option-D

Question11:-The part of labour cost variance which arises due to the difference
between standard rate specified and the actual rate paid is

A:-Labour Cost variance
B:-Labour Rate variance
C:-Labour Efficiency Variance
D:-Labour Mix Variance

Correct Answer:- Option-B