Question :
Directions : Read the following information and answer the questions that follow.
XYZ is a business incubator that helps new and startup companies to develop by providing services such as management training or office space. It has three office spaces: A, B and C and a startup will be associated with XYZ for a minimum of 3 years. All the utility charges will be borne by XYZ. Startups need to fulfill the following conditions to have XYZ as their incubator:
(i) A minimum of 60% of the capital for the startup should be provided by the startup itself.
(ii) If a startup wants to rent workspace A or B, then it needs to pay the rent of 2 years in advance (₹500000) while if a startup wants to rent workspace C, then it needs to pay the rent of 1.5 years in advance (₹420000).
(iii) The strength of the company should not exceed 50, if it is a service based company and should not exceed 100 if it is a product based of company.
(iv) The incubator will provide accounting and legal help to only those startups that has more than 70% of its employees inexperienced (the job at the startup is their first one).
(v) The startup should pay 15% of the total utility charges in case it disintegrates within three years.
HV is a service-based startup that signed up a contract in July, 2009 with XYZ for 5 years and rented workspace C. Almost 90% of its employees have previous experience in different firms. Unfortunately, HV disintegrated in March, 2013 as they were unable to accumulate profits through their services. Which of the following is implicit from the given situation?
I. HV paid 15% of the total utility charges.
II. HV was not provided accounting and legal help by XYZ.
III. HV paid a total of ₹840000 rent during its association with XYZ.
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