Question Bank - Accountancy

Here's the question bank on all the accountancy topics.

When the name of the transferee is not filled in the transfer deed, it is called a/an

A.
Carryover
B.
Option dealing
C.
Blank transfer
D.
Forward dealing

Solution:

When the name of the transferee is not filled in the transfer deed, it is called a Blank transfer. Blank Transfer:A blank transfer is an instrument of transfer signed by the transferor in which the name of the transferee and the date of the transfer are not filled. Ownership of shares in a company is generally transferred from one person to another by the execution of a document by the seller and the buyer. This document is variously described as a transfer instrument or transfer deed or simply transfer'. Carryover: That which is carried over, postponed, or extended to a later time, account, etc. Option dealing: Option refer to a right to buy or sell a security within a certain time at a certain price. Right to purchase securities is called call option and right to sell securities is put option. When the speculator expects the price to rise, he would buy a call option. Forward dealing: Dealing in commodities, securities, currencies, freight, etc. , for delivery at some future date at a price agreed at the time the contract (called a forward contract) is made.

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