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Commerce Auditing Difficulty: Medium

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Which of the following statements are correct? 1. Dividend payout ratio refers to that portion of total earnings which is distributed among equity shareholders of the company 2. 'Bird in hand' argument is given by Gordon's model 3. MM model suggest that dividend payment is very relevant for value of the firm 4. Walter's Model suggests that dividend payment does not affect the market price of the share Which section of the Competition Act, 2002 details combinations? Who stated explicitly for the first time, the Law of Comparative Costs? Determine the debtors turnover ratio if, closing debtors is Rs. 40,000, cash sale is 25% of credit sales, and excess of closing debtors over opening debtors is Rs. 20,000. Price earning ratio is more when: