Q3.

In the case of two variables. the estimated regression equation is ŷ = 60 + 5x. The total sum of squares is 15730 and the sum of squares due to error is 1530. The estimated regression line based on this information is a ______.

Q4.

Given below are two statements: One is labeled as Assertion A and the other is labeled as Reason R.

Assertion A: When a partner retires, all the assets and liabilities are revalued according to current value.

Reason R: The balance sheet should show the correct values of assets and liabilities.

In the light of the above statements, choose the most appropriate answer from the options given below:

Q5.

Which are the appropriate tax planning perspectives in case of shutdown or continued decision under the Income Tax Act, of 1961?

A. Business loss and unabsorbed depreciation can be carried forward and set off against profit and gain.

B. The loss-making company and profit-making company may merge to avail of the tax benefit

C. Tax benefit of deduction u/s 33 AB and 115 VT may be withdrawn and liable to tax for the year in which the business is discontinued.

D. The condition of section 80 IB / 80 IC of the Act, a deduction is allowed for such undertaking

E. If a person has more than one business, the loss-making business may not be discontinued.

Choose the most appropriate answer from the options given below: