Representative General Body May Be Constituted by

question 11

Multiple Choice

Representative general body may be constituted by

• A)society having one taluk as its area of operation
• B)society having one taluk as its area of operation and having not less than 1000 members
• C)society having one taluk or more than one taluk as its area of operation and not less than 1000 members
• D)society having more taluks as its area of operation and having more than 1000 members

Understand the principles governing the formation of contracts, including the offer and acceptance rules.

Distinguish between different types of rules such as the mirror image rule, mailbox rule, and others relevant to contract law.

Comprehend the doctrine of promissory estoppel and its requirements.

Grasp the concept of consideration and its significance in contract validity.

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Definitions:

Variable Overhead Rate

The rate at which variable overhead costs are applied to units of production, based on an activity metric such as labor hours.

Fixed Manufacturing Overhead

Costs associated with manufacturing that do not vary with the level of production, such as salaries of managers and rent for the factory.

Cash Disbursements

The outflow of cash for expenses, investments, and other business activities as recorded in the entity's financial records.

Variable Selling

Costs that vary directly with the volume of sales, including commissions and shipping fees.