IreneChung

Q.
(a) Explain five (5) situations in which the disposal price shall be deemed at Market Value in the imposition of Real Property Gains Tax. (10 marks)

(b) Daud bought a double storey terraced house on 20th […]

Q.
With reference to the Stamp Act 1949 (As amended), calculate the stamp duty payable on the following cases;

(a) Kah Mah sold a piece of land with 6,000 square metre to Ah Lee in August 2014 for RM100.00 per […]

Q.
With reference to Town and Country Planning Act, 1976 (As amended), calculate the Development Charge of the following;

(a) Ali proposed to develop a housing scheme of 400 residential units on his 10 acres […]

Q.
(a) State any five (5) classes of income that are exempted from Income Tax. (10 marks)

(b) With examples give any five (5) types of income which are subjected to Income Tax. (15 marks)

(25 marks, 2015 […]

Q.
(a) With reference to Local Government Act 1976 (As amended), state five (5) basis for objections to the Valuation List. Give example for each. (10 marks)

(b) Determine the assessment of a newly completed […]

Q.
(a) Explain the difference between macroeconomics and microeconomics. (5 marks)

(b) Describe the three (3) characteristic differences between free economic system and central planning economic system. (15 […]

Q.
(a) Explain how government intervention is done in stabilizing the economy. (6 marks)

(b) Describe the difference between Domestic Trade and International Trade. (8 marks)

(c) “Government intervention in […]

Q.(a) Explain the difference between consumer goods and capital goods. (8 marks)(b) Explain the following ‘term’ with suitable examples.(i) Firm (4 marks)(ii) Industry (4 marks)(iii) Production input (4 marks)(20 […]

Q.
(a) Explain the difference between deflation and inflation. (4 marks)

(b) Explain two (2) of the following factors as causes of inflation.

(i) Cost-push inflation (4 marks)

(ii) Demand-pull inflation […]

Q.
(a) Describe the difference between explicit costs and implicit costs by definition, concept and appropriate examples. (12 marks)

(b) Describe the difference between Gross Domestic Product (GDP) and Gross […]

Q.

(a) The above diagram shows the demand curve (DD) and the supply curve (SS) for a perfectly competitive industry. Discuss the relationship that occurs with P if D1Q1 switches to D2Q2. (10 marks)

(b) […]

Q.
(a) Explain the following terms in the context of the market structure.

(i) Monopolistic (3 marks)

(ii) Oligopoly (3 marks)

(iii) Monopsony (3 marks)

(iv) Oligopsony (3 marks)

(b) Describe the […]

Q.
(a) Describe the main functions of commercial banks based on the following three (3) aspects

(i) Acceptance of deposits (4 marks)

(ii) Loan facilities (4 marks)

(iii) Banking services and facilities […]

Q.
What constitute ‘material change’ under Town and Country Planning Act, 1976?

A.
Similar question was also posted in ‘material change’ here.

This is a tricky question as ‘material change’ is very much a […]

Q.Is there a summary on the various provisions of the law commonly asked in D04 Property Taxation?A.

Q.
What is the effect of Town and Country Planning Act, 1976 on property owner like you?

A.
Town and Country Planning Act, 1976 (hereafter TCPA) has more impact on development charge to the Property […]

Q.
b) Adi Putra purchased a parcel of agricultural land encompassing an area of one (1) acre on 1 Jun, 2009 at RM100,000. He submitted an application for conversion to change the category of land use to building […]

Q.
What do you understand by “Consent” and “Free Consent” in accordance to Contracts Act 1950?

A.
“Consent”
13. Two or more persons are said to consent when they agree upon the same thing in the same sen […]

Q.
According to Contracts Act, 1950 what are the duties of Agent to Principal?

A.

Earlier answers were more of logical answers (and see here for Duties according to Common Law as per EAA Hong Kong) as […]

Q.
According to Contracts Act, 1950 list down the various duties of principal towards his agent.

A.
This part of the law is from Section 175 to 178 of Contracts Act, 1950. Extracts are posted […]