723. Mahesh ran a business on borrowed capital. After his sudden demise, all the creditors are doing their best to go after Mahesh’s assets. Which of the below assets is beyond the reach of the creditors?

by
Property under Mahesh’s name
Mahesh’s bank accounts
Term life insurance policy purchased under section 6 of the MWP Act
Mutual funds owned by Mahesh
✅ The correct answer is C.
The term life insurance policy purchased under Section 6 of the MWP Act cannot be taken by the creditors.

722. Statement of cash flows are included

by
operating activities
investing activities
financing activities
all of above
✅ The correct answer is D.
Statement of cash flows includes cash flows from operating, financing and investing activities. Financing activities include the inflow of cash from investors, such as banks and shareholders and the outflow of cash to shareholders as dividends as the company generates income.

740. Period cost, which consists income statement of manufacturing companies belongs to

by
inventory costs
product costs
non-manufacturing costs
manufacturing costs
✅ The correct answer is C.
Period cost, which consists income statement of manufacturing companies belongs to non-manufacturing costs. Non-manufacturing costs refer to those incurred outside the factory or production department. These are costs are not needed in transforming materials into finished goods.

715. An inflation free rate of return and inflation premium are two components of

by
quoted rate
unquoted rate
steeper rate
portfolio rate
✅ The correct answer is A.
An inflation free rate of return and inflation premium are two components of quoted rate. An inflation free rate of return and inflation premium are two components of quoted rate. A rate expressed on the basis which is conventional in the market in which the parties are dealing or proposing to deal.