LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Select The Blank
Question
The form should be filled within ________ days from the date of execution of document.
Correct Answer
30 days
Your Answer
30 days
Multiple Choice Single Answer
Question
The requisite registration fees is payable to ROC depending upon
Correct Answer
Authorised Capital of the Company
Your Answer
Paid-up capital of the Company
Multiple Choice Multiple Answer
Question
Directors' Responsibility Statement refers to :-
Correct Answer
Going concern , Accounting policies , Accounting standards
Your Answer
Going concern , Accounting policies , Accounting standards
Multiple Choice Multiple Answer
Question
Public Company means a company which :-
Correct Answer
Has a minimum paid-up share-capital of Rs. 5 lac , Is private company which is subsidiary of public company , Is not a private company
Your Answer
Has a minimum paid-up share-capital of Rs. 5 lac , Is private company which is subsidiary of public company , Is not a private company
Multiple Choice Single Answer
Question
Unless the articles of association otherwise provide, every director has to hold the shares of nominal value of Rs.:-
Correct Answer
5000/-
Your Answer
5000/-
Select The Blank
Question
The detention period where the amount of penalty is greater than 10 million is ________.
Correct Answer
3 years
Your Answer
3 years
Select The Blank
Question
A member shall have right to apply for operations and mismanagement of the company provided application is made by members not less than ________ or by the members holding not less than one tenth of total number of shares in the share capital of the company.
Correct Answer
100
Your Answer
100
Multiple Choice Single Answer
Question
Audit committee shall consist of not less than :-
Correct Answer
Three directors
Your Answer
Three directors
Select The Blank
Question
If the articles are silent who will be the ________ director of the company, the subscribers to the members shall deemed to be directors of the company.
Correct Answer
First
Your Answer
First
True/False
Question
Debenture-holder of a company can ask for annual accounts.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
The quorum for the board meeting is one third of the total strength of the board or two whichever is :-
Correct Answer
More
Your Answer
More
True/False
Question
Company can not issue shares with differential voting/ dividend rights.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
Person permanently resident in India can return foreign exchange by :-
Correct Answer
From AD , Travelling abroad , As a gift
Your Answer
From AD , Travelling abroad , As a gift
Multiple Choice Single Answer
Question
Any contravention of provisions of FEMA will attract penalty upto :-
Correct Answer
Rs. 200000
Your Answer
Rs. 200000
True/False
Question
Directors' Report may contain details/ state of affairs of its subsidiaries.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
What does the minimum wages act determine ?
Correct Answer
The minimum wages in industries specified in the schedule
Your Answer
The minimum wages in industries specified in the schedule
Multiple Choice Multiple Answer
Question
A person can not be appointed as director of the company if :-
Correct Answer
He is found to be of unsound mind , He is declared as an insolvent , He has not taken qualification shares
Your Answer
He is found to be of unsound mind , He is declared as an insolvent , He has not taken qualification shares
True/False
Question
Companies listed on recognized stock exchange are not allowed to invest in foreign companies.
Correct Answer
False
Your Answer
False
True/False
Question
Board may appoint additional directors.
Correct Answer
True
Your Answer
True
Select The Blank
Question
If an employer derives profit in any of the first ________ years he has to pay bonus for that year.
Correct Answer
5
Your Answer
5
True/False
Question
An employee employed through contractors on building operations is entitled to bonus.
Correct Answer
False
Your Answer
False
Select The Blank
Question
The shares with differential voting rights shall not exceed ________ of the total share capital issued.
Correct Answer
0.25
Your Answer
0.25
Multiple Choice Multiple Answer
Question
Statutory Report pertains to :-
Correct Answer
Funds raised by the company , Utilisation of funds , Investments made by the company
Your Answer
Funds raised by the company , Utilisation of funds , Investments made by the company
Select The Blank
Question
The definition of ECB in India is partly in alignment with ________ Act.
Correct Answer
FERA
Your Answer
FERA
Select The Blank
Question
The chairman of the audit committee shall attend ________ to provide clarification on matters relating to audit.
Correct Answer
Annual general meeting
Your Answer
Annual general meeting
Multiple Choice Single Answer
Question
Explanatory Statement should be annexed to Notice for :-
Correct Answer
Special business
Your Answer
Special business
Multiple Choice Multiple Answer
Question
Sole selling agent may be :-
Correct Answer
An Individual , A firm , A Body corporate
Your Answer
An Individual , A firm , A Body corporate
True/False
Question
The Board has power to alter Articles of Association being internal document.
Correct Answer
False
Your Answer
False
Multiple Choice Single Answer
Question
Declaration of Compliance with requirements of the Companies Act
Correct Answer
Form 1
Your Answer
Form 29
Multiple Choice Single Answer
Question
Where does the company publish the compensation philosophy and the statement entitled compensation in respect of the non executive directors?
Correct Answer
Annual report
Your Answer
Journals
Select The Blank
Question
The minimum wages to the obligations created by the convention no 26 of ________.
Correct Answer
International labour organisation
Your Answer
International labour organisation
Multiple Choice Multiple Answer
Question
The board of directors shall exercise these powers only at board meetings :-
Correct Answer
Power to make calls on shares , Power to issue debentures , Power to borrow money
Your Answer
Power to make calls on shares , Power to issue debentures , Power to borrow money
True/False
Question
There should be a gap of more than 4 months to have the meeting of the board of directors.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
Particulars of charge under sec.125 contain :-
Correct Answer
Date & description of the instrument creating the charge , Amount secured by the charge , Short particulars of the asset to be charged
Your Answer
Date & description of the instrument creating the charge , Amount secured by the charge , Short particulars of the asset to be charged
Match The Following
Question
Correct Answer
Your Answer
Remuneration policy
Remuneration committee
Remuneration committee
Board of directors
Board procedure
Board procedure
Audit committee
Qualified and independent audit committee
Qualified and independent audit committee
Net worth more than 25 corers
Comply with clause 49
Comply with clause 49
Multiple Choice Multiple Answer
Question
Appointment of receiver under sec.137 containt
Correct Answer
Name , address and date of appointment of receiver , date on which the receiver ceased to act
Your Answer
Name , address and date of appointment of receiver , date on which the receiver ceased to act
True/False
Question
Company may have alternate director.
Correct Answer
True
Your Answer
False
Multiple Choice Multiple Answer
Question
Section 24 provides bar to entertain suits by the court for recovery of wages in so far as the sum claimed falls within which of the following categories :-
Correct Answer
For which any application claim has already been presented , Direction of claim already given' , Amount adjudged is not due to penalty
Your Answer
For which any application claim has already been presented , Direction of claim already given' , Amount adjudged is not due to penalty
Select The Blank
Question
________ shall lay before the AGM, the statement of Income & Expenditure in place of Profit & Loss a/c.
Correct Answer
Charitable Trust
Your Answer
Charitable Trust
Multiple Choice Single Answer
Question
The earlier "Fast Track" investments route has been replaced by?
Correct Answer
Automatic
Your Answer
Automatic
Multiple Choice Single Answer
Question
What right does the payment of bonus act give ?
Correct Answer
Statutory right to share in profits
Your Answer
Statutory right to share in profits
Multiple Choice Multiple Answer
Question
What is the main purpose of the payment of wages act 1936?
Correct Answer
Ensure payment of wages to the employed , Prevent unauthorised deductions , Prevent arbitrary fines
Your Answer
Ensure payment of wages to the employed , Prevent unauthorised deductions , Prevent arbitrary fines
Multiple Choice Single Answer
Question
What do you mean by establishment on private sector?
Correct Answer
Any establishment other than public sector
Your Answer
Any establishment other than public sector
Select The Blank
Question
Purchase of foreign securities by resident employee of Indian Software Company, should not exceed ________.
Correct Answer
US $ 50000
Your Answer
US $ 50000
Multiple Choice Multiple Answer
Question
Who has not prescribed particular set of documentation for current account remittances?
Correct Answer
RBI , Central Govt.
Your Answer
RBI , Central Govt.
True/False
Question
Every company shall have a qualified and independent audit committee.
Correct Answer
True
Your Answer
True
Match The Following
Question
Correct Answer
Your Answer
Registration fees
Authorised Capital of the Company
Form 18
Certified resolution
Form 23
Form 23
Activities of company
Memorandum of Association
Articles of Association
Situation of registered office
Form 18
Memorandum of Association
Select The Blank
Question
The form should be filled within ________ days from the date of execution of document.
Correct Answer
30 days
Your Answer
30 days
Multiple Choice Single Answer
Question
The requisite registration fees is payable to ROC depending upon
Correct Answer
Authorised Capital of the Company
Your Answer
Paid-up capital of the Company
Multiple Choice Multiple Answer
Question
Directors' Responsibility Statement refers to :-
Correct Answer
Going concern , Accounting policies , Accounting standards
Your Answer
Going concern , Accounting policies , Accounting standards
Multiple Choice Multiple Answer
Question
Public Company means a company which :-
Correct Answer
Has a minimum paid-up share-capital of Rs. 5 lac , Is private company which is subsidiary of public company , Is not a private company
Your Answer
Has a minimum paid-up share-capital of Rs. 5 lac , Is private company which is subsidiary of public company , Is not a private company
Multiple Choice Single Answer
Question
Unless the articles of association otherwise provide, every director has to hold the shares of nominal value of Rs.:-
Correct Answer
5000/-
Your Answer
5000/-
Select The Blank
Question
The detention period where the amount of penalty is greater than 10 million is ________.
Correct Answer
3 years
Your Answer
3 years
Select The Blank
Question
A member shall have right to apply for operations and mismanagement of the company provided application is made by members not less than ________ or by the members holding not less than one tenth of total number of shares in the share capital of the company.
Correct Answer
100
Your Answer
100
Multiple Choice Single Answer
Question
Audit committee shall consist of not less than :-
Correct Answer
Three directors
Your Answer
Three directors
Select The Blank
Question
If the articles are silent who will be the ________ director of the company, the subscribers to the members shall deemed to be directors of the company.
Correct Answer
First
Your Answer
First
True/False
Question
Debenture-holder of a company can ask for annual accounts.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
The quorum for the board meeting is one third of the total strength of the board or two whichever is :-
Correct Answer
More
Your Answer
More
True/False
Question
Company can not issue shares with differential voting/ dividend rights.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
Person permanently resident in India can return foreign exchange by :-
Correct Answer
From AD , Travelling abroad , As a gift
Your Answer
From AD , Travelling abroad , As a gift
Multiple Choice Single Answer
Question
Any contravention of provisions of FEMA will attract penalty upto :-
Correct Answer
Rs. 200000
Your Answer
Rs. 200000
True/False
Question
Directors' Report may contain details/ state of affairs of its subsidiaries.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
What does the minimum wages act determine ?
Correct Answer
The minimum wages in industries specified in the schedule
Your Answer
The minimum wages in industries specified in the schedule
Multiple Choice Multiple Answer
Question
A person can not be appointed as director of the company if :-
Correct Answer
He is found to be of unsound mind , He is declared as an insolvent , He has not taken qualification shares
Your Answer
He is found to be of unsound mind , He is declared as an insolvent , He has not taken qualification shares
True/False
Question
Companies listed on recognized stock exchange are not allowed to invest in foreign companies.
Correct Answer
False
Your Answer
False
True/False
Question
Board may appoint additional directors.
Correct Answer
True
Your Answer
True
Select The Blank
Question
If an employer derives profit in any of the first ________ years he has to pay bonus for that year.
Correct Answer
5
Your Answer
5
True/False
Question
An employee employed through contractors on building operations is entitled to bonus.
Correct Answer
False
Your Answer
False
Select The Blank
Question
The shares with differential voting rights shall not exceed ________ of the total share capital issued.
Correct Answer
0.25
Your Answer
0.25
Multiple Choice Multiple Answer
Question
Statutory Report pertains to :-
Correct Answer
Funds raised by the company , Utilisation of funds , Investments made by the company
Your Answer
Funds raised by the company , Utilisation of funds , Investments made by the company
Select The Blank
Question
The definition of ECB in India is partly in alignment with ________ Act.
Correct Answer
FERA
Your Answer
FERA
Select The Blank
Question
The chairman of the audit committee shall attend ________ to provide clarification on matters relating to audit.
Correct Answer
Annual general meeting
Your Answer
Annual general meeting
Multiple Choice Single Answer
Question
Explanatory Statement should be annexed to Notice for :-
Correct Answer
Special business
Your Answer
Special business
Multiple Choice Multiple Answer
Question
Sole selling agent may be :-
Correct Answer
An Individual , A firm , A Body corporate
Your Answer
An Individual , A firm , A Body corporate
True/False
Question
The Board has power to alter Articles of Association being internal document.
Correct Answer
False
Your Answer
False
Multiple Choice Single Answer
Question
Declaration of Compliance with requirements of the Companies Act
Correct Answer
Form 1
Your Answer
Form 29
Multiple Choice Single Answer
Question
Where does the company publish the compensation philosophy and the statement entitled compensation in respect of the non executive directors?
Correct Answer
Annual report
Your Answer
Journals
Select The Blank
Question
The minimum wages to the obligations created by the convention no 26 of ________.
Correct Answer
International labour organisation
Your Answer
International labour organisation
Multiple Choice Multiple Answer
Question
The board of directors shall exercise these powers only at board meetings :-
Correct Answer
Power to make calls on shares , Power to issue debentures , Power to borrow money
Your Answer
Power to make calls on shares , Power to issue debentures , Power to borrow money
True/False
Question
There should be a gap of more than 4 months to have the meeting of the board of directors.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
Particulars of charge under sec.125 contain :-
Correct Answer
Date & description of the instrument creating the charge , Amount secured by the charge , Short particulars of the asset to be charged
Your Answer
Date & description of the instrument creating the charge , Amount secured by the charge , Short particulars of the asset to be charged
Match The Following
Question
Correct Answer
Your Answer
Remuneration policy
Remuneration committee
Remuneration committee
Board of directors
Board procedure
Board procedure
Audit committee
Qualified and independent audit committee
Qualified and independent audit committee
Net worth more than 25 corers
Comply with clause 49
Comply with clause 49
Multiple Choice Multiple Answer
Question
Appointment of receiver under sec.137 containt
Correct Answer
Name , address and date of appointment of receiver , date on which the receiver ceased to act
Your Answer
Name , address and date of appointment of receiver , date on which the receiver ceased to act
True/False
Question
Company may have alternate director.
Correct Answer
True
Your Answer
False
Multiple Choice Multiple Answer
Question
Section 24 provides bar to entertain suits by the court for recovery of wages in so far as the sum claimed falls within which of the following categories :-
Correct Answer
For which any application claim has already been presented , Direction of claim already given' , Amount adjudged is not due to penalty
Your Answer
For which any application claim has already been presented , Direction of claim already given' , Amount adjudged is not due to penalty
Select The Blank
Question
________ shall lay before the AGM, the statement of Income & Expenditure in place of Profit & Loss a/c.
Correct Answer
Charitable Trust
Your Answer
Charitable Trust
Multiple Choice Single Answer
Question
The earlier "Fast Track" investments route has been replaced by?
Correct Answer
Automatic
Your Answer
Automatic
Multiple Choice Single Answer
Question
What right does the payment of bonus act give ?
Correct Answer
Statutory right to share in profits
Your Answer
Statutory right to share in profits
Multiple Choice Multiple Answer
Question
What is the main purpose of the payment of wages act 1936?
Correct Answer
Ensure payment of wages to the employed , Prevent unauthorised deductions , Prevent arbitrary fines
Your Answer
Ensure payment of wages to the employed , Prevent unauthorised deductions , Prevent arbitrary fines
Multiple Choice Single Answer
Question
What do you mean by establishment on private sector?
Correct Answer
Any establishment other than public sector
Your Answer
Any establishment other than public sector
Select The Blank
Question
Purchase of foreign securities by resident employee of Indian Software Company, should not exceed ________.
Correct Answer
US $ 50000
Your Answer
US $ 50000
Multiple Choice Multiple Answer
Question
Who has not prescribed particular set of documentation for current account remittances?
Correct Answer
RBI , Central Govt.
Your Answer
RBI , Central Govt.
True/False
Question
Every company shall have a qualified and independent audit committee.
Correct Answer
True
Your Answer
True
Match The Following
Question
Correct Answer
Your Answer
Registration fees
Authorised Capital of the Company
Form 18
Certified resolution
Form 23
Form 23
Activities of company
Memorandum of Association
Articles of Association
Situation of registered office
Form 18
Memorandum of Association
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