Q1. Under discounted cash flow method, value of property increases with

1. Higher Property tax
2. Lower discount rate
3. High capitalization rate
4. Reduced income flow

Q2. In case of three arbitrators, the ‘third arbitrator’ shall act as:

1. assistant Arbitrator
2. the umpire
3. sole arbitrator
4. Presiding Arbitrator

Q3. In the lease agreement, the difference between date of termination and dale of commencement of lease is called

1. Lease period
2. Renew clause
3. Amount of rent
4. Date of agreement

Q4. GA is used in insurance

1. General Average
2. Guaranteed Assurance
3. General Adjustment
4. General Assurance

Q5. The eligibility criteria to be registered as registered valuers organisations includes a requirement of paid-up share capital of

1. 5 Lakh
2. 50 Lakh
3. 1 Crore
4. Any amount

Ans. As per the Governance Structure and Model Bye Laws for migistered valuens organisation under the Companies (Registered Valuers and Valuation) Ruim. 2017, No person shall be eligible to be recognised as an registered valuer’s organisation unless it is a company registered under section of the Companies Act, 2013 with share capital. There is no such requirement to have minimum paid up capital

Q6. The essence of insurance is ———- losses and ————certainty with uncertainty

1. minimize, replace
2. reduces, modify
3. share, substitute
4. None of the above

Q7. When a property is put up for sale, the seller is forced to reduce the price when

1. The broker tells him or her to do so
2. The buyers tell him or her to do so
3. The listing expires and a new broker insests on a lower price
4. The seller decides that a price reduction is needed to facilitate a sale

Q8. A sees an article marked “Price Rupees Twenty” in B’s shop. He offers B Res. 20 for the article. B refuses to sell saying the article is not for sale. Advice A.

1. A can force B to sail the article at Rs. 20
2. A can claim damages
3. A can sue B in the Court
4. A cannot force B to sell the article at Rs. 20

Q9. Statistics branches include

1. Applied Statistics
2. Mathematical Statistics
3. Industry Statistics
4. Both A and B

Q10. Suppose the correlation coefficient between height (as measured in feet) versus weight (as measured in pounds) is 0.40. What is the correlation coefficient of height measured in inches versus weight measured in ounces? [12 inches = one foot; 16 ounces = one pounds]

1. cannot be determined from information given
2. correlation coefficient is 0.30
3. correlation coefficient is 0.40
4. correlation coefficient is 0.533

Q11. The amount at which an asset is recognized in the financial statements of an entity after deducting any accumulated depreciation and any accumulated impairment losses is called

1. Replacement cost
2. Reproduction cost
3. Book value (Carrying amount)
4. Historical cost

Q14. As per Sec. 231 of Companies Act, 2013, if the Tribunal is satisfied that the compromise or arrangement sanctioned u/s 230 cannot be implemented satisfactorily with or without modifications, and the company is unable to pay its debts as per the scheme, it

1. shall refer the matter to the Central Government for their consideration.
2. may refer the matter to the Central Government for their consideration.
3. may make an order for winding up the company.
4. shall make an order for winding up the company.

Q15. The test of legal permissibility includes all the following requirements except

1. Compliance with supply and demand criteria
2. Compliance with lease provisions
3. Deed and plot restriction
4. Zoning requirements, building codes and historic district

Q16. The three approaches to value are

1. Sales extraction, cost replication, and income multiplication
2. Market analysis, market consensus of opinion, and market research
3. Graphic analysis, linear regression, and statistical analysis
4. Sales comparison, cost and income capitalization

Q17. The present value of per annum receivable at the end of each year after accounting for a sinking fund to accumulate at the same rate of interest as that which is required on the invested capital is called

1. Years purchase multiple rate
2. Years purchase single rate
3. Years purchase dual rate
4. Years purchase

Q18. ————–is a bad conductor of heat and it is an effective material for fire resisting construction

1. Steel
2. Concrete
3. Granite
4. Aluminium

Q19. The value of an asset to a particular owner or prospective owner for individual investment or operational objectives is called

1. Fair value
2. Fair market value
3. Investment value
4. Market value

Q20. A nomination can be made only in favour of

1. any individual
2. spouse and minor children
3. spouse and children with guardian
4. parents, spouse and children

Q21. What time period is to be given to the borrower as a notice before sale of the secured asset:

1. 30 Days
2. 60 Days
3. 90 Days
4. 45 Days

Q22. When actual price is higher or lower than the standard price, then it is

1. Sales price variance
2. Sales mix variance
3. Sales quantity variance
4. Sales volume variance

Q23. Costs of disposal are incremental costs directly attributable to the disposal of an asset or cash-generating unit, excluding

1. finance costs
2. income tax expense
3. both the above
4. none of the above

As defined in Indian Accounting Standard (Ind AS) 36, Costs of disposal are the incremental costs directly attributable to the disposal of an asset or cash-generating unit, excluding finance costs and income tax expense.

Q24. A good hypothesis should be

1. precise, specific and consistent with moist known facts
2. formulated in such a way that it can be tested by the data
3. of limited scope and should not have global significance
4. all of these

Q25. In case the unexpired period of lease is too large the reversionary value would be

a.

1. Negative Negligible
2. Zero
3. Unidentifiable

Q26. Which would be an example of a government price ceiling?

1. limits on interest rates charged by credit card companies
2. price supports for agricultural products
3. subsidies for apartment rent in major cities
4. minimum-wage laws for unskilled workers

Q27. Out of following which cost is not considered as an indirect cost in computation of replacement cost?

1. Contractor profit
2. Building permission & license
3. Labour
4. Taxes

Q28. A lease by a tenant or lease of part or all of leased premises to another person but with the original tenant or lessee retaining some right or interest under the original lease is called

1. Sub lease
2. Occupational lease
3. Lease of life
4. Building lease

Q29. Real GDP is obtained by

1. Nominal GDP minus GDP deflator
2. Nominal GDP divided by GDP deflator
3. Nominal GDP divided by CPI
4. Nominal GDP multiplied by price level

Real GDP makes comparing GDP from year to year and from different years more meaningful because it shows comparisons for both the quantity and value of goods and services. Real GDP is calculated by dividing nominal GDP over a GDP deflator.

Q30. An appraisal is needed to judge all of the following EXCEPT

1. book value
2. market value
3. replacement value
4. loan value

Q31. Which of the following is not inherent in materials used for production of goods

1. Value
2. Cost
3. Utility
4. Labour

Q32.———– is an organism used to gauge the quality of an ecosystem.

1. Predator
2. Decomposers
3. Bioindicator
4. Bio-remediator

Q33. Mr. A & Mr. B are under joint ownership. If Mr. B dies than rights and interest of Mr. B under joint ownership will pass to

1. Mr. A
2. Successor of Mr. A
3. Successor of Mr. B
4. Shall remain with Mr. B

Q34. A valuer shall maintain integrity by being honest, ————–forthright in all professional relationships. and

1. fair
2. impartial
3. up front
4. straightforward

As per Model code of conduct of registered valuers (Annexure 1), the Companies (Registered valuers and valuation) rules, 2017, A valuer shall maintain integrity by being honest, straightforward, and forthright in all professional relationships

Q35. A man recently apprised a three-bedroom ranch house in a poor neighbourhood. He found another comparable in a better neighbourhood that sold for Rs. 80,000. The comparable also had a fireplace, which the subject property did not. He assigned the following adjustments: Rs. 2,000 for the fireplace and Rs. 5,000 for the neighbourhood. The adjusted sales price for this comparable would now be

1. Rs.87,000
2. Rs.73,000
3. Rs.92,000
4. Rs. 83,000

Comparable in better neighbourhood = Rs. 80,000

Adjustment for poor neighbourhood = Rs. 5000

Adjustment for fireplace = Rs. 2000

Adjusted sales price = Rs, 73,000 (80,000-5000-2000)

Q36. Which of the following statements are true about Horizontal Analysis?

1. A) It does not examine the periodical trend.
2. B) It is useful for long-term analysis.
3. C) It is useful for long-term planning.
4. Both A and B
5. Both A and C
6. Both B and C
7. A, B, C

Q37. The owner is having a big plot of land having net extent of 2.50 acre of vacant urban land in the centre of the city which is required to be valued for sale. The average selling unit price of residential plots in the surrounding locality is around Rs. 35000/- per Sq mt. The land is located in residential zone as per Master plan. Assume development cost of residential layout is @ 15% and developers Profit is 20%. Assume maximum approved percentage of land area for residential purpose as per zoning rules

NOTE: Please tick only one answer for each question. Multiple answers for same question will disqualify the question for evaluation.

1. What is the total value of land in developed stage in Hypothetical market
2. Rs. 15,77,15,250
3. Rs. 17,47,25,650
4. Rs. 18,17,29,350
5. Rs. 19,47,52,950
6. What is the total cost of development of land for residential layout in Hypothetical market
7. Rs. 2,92,12,942
8. Rs. 3,89,50,590
9. Rs. 6,81,63,532
10. Rs. 7,19,23,252
11. What is the net value of land in undeveloped stage
12. Rs. 6,81,63,532
13. Rs. 12,65,89,418
14. Rs. 16,15,88,916
15. Rs. 19,47,52,950
16. What is the maximum approved percentage of land area for residential purpose as per zoning rules
17. 45 percent
18. 55 percent
19. 60 percent
20. 65 percent

Solution:

As per Town and Country Planning Act, for developing residential layouts, the maximum site area approval is 55%.

1 Acre = 4046.86 Acre

Area of land, i.e. 2.50 x 4046.86 = 10117.05 sq. m.

Hence net available area for plots development is 10117.05 Sqm x 0.55 = 5564.37 sq.m.

Hence total sale value of the land in developed stage in Hypothetical market is

i.e. 5564.37 x 35000 = Rs. 19,47,52,950/- (A)

Total Development cost is 15% Rs.2,92,12,942/-

Developers Profit 20% Rs. 3,89,50,590/-

Therefore, cost of expenses for developments is Rs. 6,81,63,532/- (B)

Net value of the land in this undeveloped stage is (A-B) = Rs. 12,65,89,418/-

Q38. In which of the following case definition of ‘Market value’ was discussed?

1. CWT Vs. P.N. Sikand (1977) 107 ITR 922 (SC)
2. Jawajee Nagnathan Vs. Revenue Divisional Officer (1994) SCC (4) 595 (SC)
3. Chimanlal Hargovinddas Vs. SLAO,
4. CED Vs. Radhadevi Jalan (1968) 67 ITR 761 (Cal)

Q39. Which of the following factors will make the demand for a product more elastic? (Assume the product has a straight-line, downward sloping demand.)

1. A lower price
2. The product has no close substitutes
3. A long time period has elapsed since the product’s price changed.
4. A very small proportion of income is spent on the good

Q40. Demand has no effect on value unless there is also

1. Purchasing power
2. Need
3. Ample supply
4. Scarcity

Q41. As fair investment in real estate (REITs) is concerned———- is very difficult.

1. Generating income
2. Hedge against inflation
3. Divisibility of holding
4. Getting capital from bank

Hedge against inflation becomes the most difficult aspect when dealing with REITS.

Generating income: REITs are specifically designed to generate income for investors through regular dividends, making this relatively easy.

Getting capital from the bank: REITs are tradable securities, so loans can

often be secured using them as collateral.

Divisibility of holding: REITs are highly divisible, as they are bought and sold like shares, allowing investors to invest smaller amounts.

Hedge against inflation: This is more challenging with REITs compared to

direct real estate investments, as the performance of REITs can be influenced by market volatility and interest rates, which don’t always align with inflation trends.

Q42. The owner of the building has planned to replace the old pump installed to his building after completion of its life of 15 years. Rate of interest is 4% and his requirement is Rs. 5000/-. Answer the following questions

NOTE: Please tick only one answer for each question. Multiple answers for same question will disqualify the question for evaluation.

(A) The sinking fund amount is calculated by using formula

1. 1/(1+R)^n
2. ((1+R)^n-1)/R
3. R/((1+R)^n-1)
4. 1/(R+S)^n

(B) What should be the instalment amount that owner should invest?

1. Rs. 200
2. Rs. 250
3. Rs. 260
4. Rs. 290

In Excel     =PMT (4%, 15,5000,0) = Rs.250

(C) What should be the instalment amount if owner expect life of the pump to be 9 years?

1. Rs. 400
2. Rs. 422
3. Rs. 472
4. Rs. 490

in Excel        =PMT (4%, 9,5000,0)

Solution A.

The sinking fund amount is calculated by using formula R/((1+R)^n-1)

Solution B.

Instalment amount = Future Amount x R/((1 + R)^n-1) =5000*0.04/((1+0.04)^15-1) =Rs.250/-

Solution C.

Instalment amount = Future Amount x R/((1 + R)^n-1) =5000*0.04/((1+0.04)^9-1) =Rs.472.46

Q43. A proposal cannot be revoked:

By the lapse of the time prescribed in such proposal for its acceptance

By the communication of notice of revocation by the proposer to the other party X

By an act involving moral turpitude of the proposer, whether related to the proposal or otherwise

By the failure of the acceptor to fulfil a condition precedent to acceptance

Q44. Zoning and environmental protection regulation are examples of

1. Public use
2. Police power
3. Escheat
4. Clouds on a title

QQ45. Which of the following statements applies equally to two joint tenants and to tenants by the entirety?

1. There can be no right to file a partition suit
2. The last living tenant becomes sole owner
3. A deed signed by one party will convey a fractional interest
4. A deed will not convey any interest unless signed by both spouse

Q46. In real estate financing, the debt is evidence by a

1. Chattel mortgage
2. Promissory note
3. Mortgage
4. Financing statement

Q47. Which of the following is not related to time value of money

1. Risk of return
2. Opportunity
3. Inflation
4. Utility

Q48. A woman and her brother hold property in joint tenancy. What if the woman deeds her part to herself and her husband?

1. The joint tenancy remains the same
2. All three now hold title in joint tenancy
3. The deed to the husband is invalid
4. The joint tenancy is severed

Q49. The declining in value caused by changes in economic, governmental policies, demographic, or locational influences outside the property is called

1. Economic obsolescence
2. Physical deterioration
3. Technical obsolescence
4. Functional obsolescence

Q50. In which case the valuation officer valued portion occupied by tenants by capitalizing rental value and valued self-occupied portion on basis of prevailing rates of property in same area, but he valued land on basis of sale of adjacent property?

1. CWT Vs. P.N. Sikand (1977) 107 ITR 922 (SC)
2. CED Vs. Radhadevi Jalan (1968) 67 ITR 761 (Cal)
3. Wenger & Co. Vs. DVO (1978) 115 ITR 648 Delhi HC
4. Chimanlal Hargovinddas Vs. SLAO,

Q51. A fund formed by setting aside a recurring annual amount for a given period of time to recoup capital invested in an asset is called

1. Gratuity
2. Compound sum
3. Sinking fund
4. Annuity

Q52. What is the best-suited name for a process that doesn’t necessitate experimental research?

1. Content analysis
2. Observation
3. Manipulation
4. Controlling

In an experimental research design, whenever the independent variables (i.e., treatment variables or factors) decisively get altered by researchers, then that process is termed as an experimental manipulation.

Q53. In direct capitalization

1. You convert an estimate of a single year’s income expectancy into present value by dividing the income expectancy by an appropriate rate or by multiplying the income estimate by an appropriate factor
2. You convert future benefits (income) into present value by discounting each future benefit at an appropriate yield rate
3. You convert future benefits (income) into present value by capitalizing each future benefit by an appropriate rate
4. Both A and B above

Q54. A lease

1. Must include the landlord paying the taxes
2. Must be for at least one year
3. Does not affect the approach of appraisal since it does not affect the saleable interest
4. Conveys the right of occupancy to another

Q55. Interest received from fixed deposit in bank is an example of

1. Expense
2. Annuity
3. Income
4. Yield

Q56. The best synonym for value is

1. Uselessness
2. Asking price
3. Worth
4. Cost

Q57. Financial control report comes under

1. Dynamic financial reports
2. Static financial reports
3. Extensive Activity report
4. None of the above

Q58. Any question suggesting the answer which the person putting it wishes or expects to receive as-

1. Relevant question
2. Leading question
3. Interrogative question
4. d. Ordinary question

Q59. Which of the following is not true about ozone?

1. HFC was used to replace ozone depleting substances.
2. Montreal protocol binds countries to adopt measures to curb ozone depleting substances.
3. Ozone is covered under Montreal Protocol.
4. Ozone is also covered under Kyoto Protocol.

Q60. The difference between disposable income and consumption is

1. Capital
2. Saving
3. Earnings
4. Expenditure

The difference between income and consumption is used to define the consumption schedule. When income grows, disposable income rises and thus consumers buy more goods. The difference between income and consumption is how much is spent and left over as savings at the end of the month.

Q61. The English rule that a grant should be construed most favourably to the sovereign:

1. Is applicable in India in its totality
2. Partially applicable in all the cases in India
3. Is not applicable in India
4. Partially applicable to some of the cases in India

Q62. A petrol bunk is situated on the road Mr. X is the dealer of the bunk, and he gets a lease rent (ground rent) from the petroleum company. Other details areas under:
Sale of M.S. Petrol = 2,42,000 liters @ Rs.76/lit
Sale of H.S Diesel = 3,75,000 liters @ Rs.47/lit
Lease rent paid to the dearer by company for the land = Rs. 4,00,000/year
Sale of car parts, oil and lubricants = Rs. 6,00,000/year
Profit of sale of goods = 15%
Cars to be serviced/year = 1600 no
Charge for servicing the car = Rs. 700/car
Cost of petrol = Rs. 71/lit
Cost of diesel = Rs. 42/lit
Staff salary = Rs.50,000/month
Property taxes = Rs.35,000/half yearly
Electricity charges = Rs.41,000/year
Telephone, postage & stationary = Rs.26,000/year
Travelling & Maintenance = Rs.21,000/year
Insurance premium = Rs. 8,000/year
Grease & oil for car service = Rs.40/car
Miscellaneous expenses = Rs.36,000/year
On the basis of given data you are required to answer the following questions.
NOTE: Please tick only one answer for each question. Multiple answers for same question will disqualify the question for evaluation.
A. What is the total income for the dealer?
a. Rs.3,61,27,000
b. Rs.3,65,07,000
c. Rs.3,76,27,000
d. Rs.3,92,37,000
B. What is the total expense for the dealer?
a. Rs.3,37,64,000
b. Rs.3,37,90,000
c. Rs.3,37,98,000
d. Rs.3,38,18,000
C. What is the net profit for the dealer?
a. Rs. 23,09,900
b. Rs. 27,17,000
c. Rs.38,29,900
d. Rs.54,19,000
D. What is the year’s purchase?
a. 6.33
b. 6.66
c. 8.33
d. 9.33
E. What is the value of the Property for the purpose of purchasing assuming a rate of returns as 12% ?
a. Rs. 1,89,00,000
b. Rs.2,79,00,000
c. Rs.3,19,00,000
d. Rs.3,79,00,000
F. What is Profit on sale of oil & lubricants of car parts?
a. Rs.30,000
b. Rs.60,000
c. Rs.90,000
d. Rs. 1,20,000
Answer 1.
Income: Petrol sale amount = 2,42,000ltr@76/lit = Rs. 1,83,92,000
Diesel sale amount = 3,75,000ltr @ 47ltr = Rs. 1,76,25,000
Ground rent for land received from the petrol company = Rs. 4,00,000
Profit on sale of oil & lubricants of car parts 15% of 6,00,000 = Rs.90,000
Income from car services: 1,600×Rs.700 = Rs. 11,20,000
Gross income = Rs.3,76,27,000
Answer 2.
Expenses: Cost petrol 2,42,000*71 = Rs. 1,71,82,000
Cost of diesel: 3,75,000*42 = Rs. 1,57,50,000
Staff salary: 50,000×12 = Rs.6,00,000
Property tax: 35,000×2 = Rs.70,000
Electricity & water charges = Rs.41,000
Telephone, postage & stationary = Rs. 26,000
Travelling & Maintenance expenses = Rs.21,000
Insurance premium = Rs.8,000
Car service – grease / oil (1,600×40) = Rs.64,000
Miscellaneous expenses = Rs.36,000
Gross expenses total = Rs. 3,37,98,000
Answer 3. Net profit = 3,76,27,000-3,37,98,000 = Rs.38,29,900
Answer 4. Rate of capitalization = 12
Years purchase (100/12) = 8.33
Answer 5. Capitalizing at 12% yield, value of business = Rs. 38,29,000×(100/12) =
Rs.3,19,08,333
Purchase price for the outlet is Rs.3,19,00,000/- aprox
Answer 6. Profit on sale of oil & lubricants of car parts 15% of 6,00,000 = Rs.90,000

Q63. Remunerative rate adopted for estimating lessor’s interest is lower than the interest rate adopted for estimating lessee’s interest because:

1. Interest of lessor is more than interest of the lessee
2. lessee’s investment in the property is more than that of the lessor
3. lessee’s interest in the property is more than that of the lessor
4. Interest of lessor is considered more secured as compared to the interest of the lessee

Q64. Under the provisions of the Transfer of Property Act, 1882, if there are patent defects in the property:

1. The maxim of caveat emptor will apply
2. The maxim of uberrimae fidei will apply

Both A and B

Neither A nor B

The maxim “caveat emptor,” meaning “let the buyer beware,” emphasizes that               buyers are responsible for checking the quality and suitability of goods before making a purchase

The maxim refers to a contract of legal agreement, requiring the highest standard of good faith during disclosure of all material facts that could influence the decision of the other party. A failure to adhere to uberrimae fidei is grounds for voiding the agreement. Insurance contracts are the most common type of a uberrimae fidei contract, since the parties are required to conform to a higher degree of good faith than in the general law of contract. The policy applicant must disclose all material facts and surrounding circumstances.

Q65. The tendency of the people to believe the currency of nominal value at present to be equal to purchasing power at a previous point is called

1. Money illusion
2. Remonetisation
3. Demonetisation
4. Legal tender money

In economics, money illusion, or price illusion, is the name for the human cognitive bias to think of money in nominal, rather than real, terms. In other words, the face value (nominal value) of money is mistaken for its purchasing power (real value) at a previous point in time.

Q66. In the mining industry the method used for valuation is known as

1. Amortization
2. Depreciation
3. Depletion
4. Diminution

Q67. Section 13 of Arbitration and Conciliation Act, 1996 lays down:

1. the termination of mandate of arbitrator
2. the procedure for challenging an arbitration
3. powers of arbitral tribunal
4. none of the above

Q68. Which is correct statement:

1. Institutional arbitration has its own set of rules.
2. Indian Council of Arbitration is the apex body
3. the rules may provide for domestic or international arbitration or for both

d.all of the above

Q69. Which of the following is a valid example of a vested interest as defined by the Transfer of Property Act, 1882?

1. B a deceased, in his will leaves a residential property to C, to be transferred on the death of B’s daughter-in-law
2. B a deceased, in his will left Rs.65,000 to A, to be paid on A’s 50th birthday
3. both A and B
4. Neither A nor B

Q70. An impairment loss shall be recognised immediately in

1. other comprehensive income
2. Impairment loss reserve
3. allowance for losses
4. profit or loss

An impairment loss shall be recognised immediately in profit or loss, unless the asset is carried at revalued amount in accordance with another Standard (for example, in accordance with the revaluation model in Ind AS 16). Any impairment loss of a revalued asset shall be treated as a revaluation decrease in accordance with that other Standard. An impairment loss on a non-revalued asset is recognised in profit or loss. However, an impairment loss on a revalued asset is recognised in other comprehensive income to the extent that the impairment loss does not exceed the amount in the revaluation surplus for that same asset. Such an impairment loss on a revalued asset reduces the revaluation surplus for that asset

Q71. What is a pilot study?

1. A study that is the first of its type.
2. A study involving pilots.
3. A small scale study.
4. A study to test the tool of data collection.

Q72. The following class of fire occur in electrical equipment

1. Class-A fires
2. Class-B fires
3. Class-C fires
4. All of the above

Q73. The order to cancel or suspend the registration of a valuer or registered valuers organisation shall not become effective until———— of issue of the order unless stated otherwise. have elapsed from the date

1. thirty days
2. fifteen days
3. ninety days
4. sixty days

As per rule 17 (8) of the Companies (Registered valuers and valuation) rules, 2017, The order passed under sub-rule (5) shall not become effective until thirty days have elapsed from the date of issue of the order unless stated otherwise. Thirty days time is time to file an appeal with the authority against the order of authorised officer.

Q74. A rupee received today can be invested now to earn interest this can result in higher value in future is called

1. Opportunity cost
2. Market cost
3. Investment cost
4. Benefit cost

Q75. The objective of a fair value measurement is to estimate the price at which an ———to sell the asset or to transfer the liability would take place.

1. most advantageous transaction
2. evenly transaction
3. orderly transaction
4. principal transaction

Fair value is a market-based measurement, not an entity-specific measurement. For some assets and liabilities, observable market transactions or market information might be available. For other assets and liabilities, observable market transactions and market information might not be available. However, the objective of a fair value measurement in both cases is the same to estimate the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions (i.e. an exit price at the measurement date from the perspective of a market participant that holds the asset or owes the liability).

Q76. All residuary under Muslim law are related through

1. Father
2. males
3. Females
4. Mother

Q77. The proposal under section 230(1) for compromise or arrangement can be filed to

1. Central Government
2. DRT
3. High Court
4. NCLT