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 Match The Following

Question

Correct Answer

Your Answer

Interim Dividend

Board of Directors

Board of Directors

Reduction of capital

Special Resolution

Special Resolution

Appointment of Managing Director

Ordinary Resolution

Ordinary Resolution

Accounting Standards

National Advisory Committee

National Advisory Committee

 

 True/False

  Question  

Payment to a scheme of insurance of a post office is not a deduction.

  Correct Answer  

False

  Your Answer  

False

 

 Select The Blank

  Question  

The uses and applications of the funds raised shall be disclosed to the audit committee on a ________basis.

  Correct Answer  

Quarterly

  Your Answer  

Quarterly

 

 Match The Following

Question

Correct Answer

Your Answer

Interim Dividend

Board of Directors

Board of Directors

Shorter notice for AGM

Private Limited Company

Private Limited Company

Books of Account

Form 23AA

Form 23AA

Accounting Standards

National Advisory Committee

National Advisory Committee

 

 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  

Audit report

 

 Multiple Choice Single Answer

  Question  

Which companies have to comply with the provisions of Clause 49 of listing agreement ?

  Correct Answer  

Listed Companies

  Your Answer  

Listed Companies

 

 True/False

  Question  

Former director can take inspection of books of account for the years when he was director.

  Correct Answer  

False

  Your Answer  

False

 

 Select The Blank

  Question  

As per section 5 in case of railways if the persons employed is less than ________ the wages shall be paid before the expiry of 7th day.

  Correct Answer  

1000

  Your Answer  

1000

 

 True/False

  Question  

Statutory Meeting must be held on a working day.

  Correct Answer  

False

  Your Answer  

True

 

 Select The Blank

  Question  

The recommendations of audit committee relating to financial management shall be ________.

  Correct Answer  

Binding

  Your Answer  

Binding

 

 Multiple Choice Multiple Answer

  Question  

What do you mean by wages?

  Correct Answer  

Remuneration by way of salaries , Allowances , Expressed in terms of money

  Your Answer  

Remuneration by way of salaries , Allowances , Expressed in terms of money

 

 Multiple Choice Multiple Answer

  Question  

Current Account transactions include :-

  Correct Answer  

Payments for foreign Trade , Payments for Interest , Foreign Travel Expenses

  Your Answer  

Payments for foreign Trade , Payments for Interest , Payments as Loans

 

 Select The Blank

  Question  

________ includes legal representative of deceased employer.

  Correct Answer  

Employer

  Your Answer  

Employer

 

 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  

Expenses incurred for Statutory Meeting , Funds raised by the company , Utilisation of funds

 

 Multiple Choice Single Answer

  Question  

For which activity FDI is not prohibited?

  Correct Answer  

Insurance

  Your Answer  

Insurance

 

 Multiple Choice Multiple Answer

  Question  

How can you compute available surplus under section 5?

  Correct Answer  

Gross profit less deductions , Direct tax calculated in accordance to provisions of section 7 in respect to amount equal to gross profits of the employer for immediately preceding accounting year

  Your Answer  

Gross profit less deductions , Direct tax calculated in accordance to provisions of section 7 in respect to amount equal to gross profits of the employer for immediately preceding accounting year

 

 True/False

  Question  

Any gratuity payable on termination of employment is included in wages.

  Correct Answer  

False

  Your Answer  

False

 

 True/False

  Question  

Deductions for income tax, payable by the employed person is permissible.

  Correct Answer  

True

  Your Answer  

True

 

 Select The Blank

  Question  

The Forms 8 &13 should be filed in ________ to ragistrar of companies.

  Correct Answer  

Triplicate

  Your Answer  

Duplicate

 

 True/False

  Question  

A company can be incorporated with the name using words Hindustan, India.

  Correct Answer  

True

  Your Answer  

False

 

 True/False

  Question  

It is not obligatory for the board of directors to lay down the code of conduct for all the board members.

  Correct Answer  

False

  Your Answer  

False

 

 True/False

  Question  

Wages includes any remuneration payable under any award or settlement between the parties or order of court.

  Correct Answer  

True

  Your Answer  

True

 

 Multiple Choice Single Answer

  Question  

The Document spelling out internal management of the Company is :-

  Correct Answer  

Articles of Association

  Your Answer  

Articles of Association

 

 Multiple Choice Multiple Answer

  Question  

Who are governed by the payment of wages act?

  Correct Answer  

Employed persons , Salary less than 1600 per month

  Your Answer  

Employed persons , Salary less than 1600 per month

 

 True/False

  Question  

FEMA is also applicable to agencies outside India that are controlled by residents in India.

  Correct Answer  

True

  Your Answer  

True

 

 Multiple Choice Multiple Answer

  Question  

For registering certain resolutions, following documents are submitted :-

  Correct Answer  

Form 23 , Certified copy of resolution , Copy of explanatory statement

  Your Answer  

Form 23 , Certified copy of resolution , Copy of explanatory statement

 

 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

 

 Multiple Choice Single Answer

  Question  

Maturity period for USD 5 million scheme is :-

  Correct Answer  

Three years

  Your Answer  

Ten years

 

 Multiple Choice Single Answer

  Question  

A person can not be appointed as managing or whole time director in more than :-

  Correct Answer  

Two companies

  Your Answer  

Two companies

 

 Multiple Choice Single Answer

  Question  

Every auditor who has in receipt from the company of the intimation of his appointment, has to inform Registrar in writing that he has accepted or refused to accept the appointment within :-

  Correct Answer  

30 Days

  Your Answer  

30 Days

 

 Multiple Choice Single Answer

  Question  

Who fixes the compensation to be paid to the non executive directors?

  Correct Answer  

Board of Directors

  Your Answer  

Executive Directors

 

 Multiple Choice Multiple Answer

  Question  

Remittance completely prohibited on :-

  Correct Answer  

Dividend balancing , Telephone expanses , Interest on funds

  Your Answer  

Dividend balancing , Telephone expanses , Interest on funds

 

 Select The Blank

  Question  

No loan or investment shall be made or guarantee given by company unless ________ is passed at the meeting by the board.

  Correct Answer  

Resolution

  Your Answer  

Resolution

 

 True/False

  Question  

Wages includes the value of any house accommodation or supply of light and water.

  Correct Answer  

False

  Your Answer  

False

 

 Select The Blank

  Question  

Any payment in respect on ________ can be deducted from the wages of an employed person.

  Correct Answer  

Fidelity guarantee bond

  Your Answer  

Fidelity guarantee bond

 

 Multiple Choice Single Answer

  Question  

A director can hold place of profit by :-

  Correct Answer  

Special resolution

  Your Answer  

Special resolution

 

 Select The Blank

  Question  

Board has power to receive of notice of ________.

  Correct Answer  

Disclosure of interest

  Your Answer  

Disclosure of interest

 

 Multiple Choice Multiple Answer

  Question  

The penalties are levied for which offences done?

  Correct Answer  

Pay less than minimum wages , Pay less than fixed wages , Contravenes any rule or order

  Your Answer  

Pay less than minimum wages , Pay less than fixed wages , Contravenes any rule or order

 

 True/False

  Question  

Authorized dealer is required to avail license under the exim policy in force.

  Correct Answer  

True

  Your Answer  

True

 

 Select The Blank

  Question  

A statement of all transactions with the related parties including the basis shall be placed before the ________.

  Correct Answer  

Audit committee

  Your Answer  

Audit committee

 

 Multiple Choice Multiple Answer

  Question  

Who is not entitled to bonus?

  Correct Answer  

An apprentice , Employee employed through contractors

  Your Answer  

An apprentice , Employee employed through contractors

 

 Multiple Choice Single Answer

  Question  

What is the optimum combination of Board of Directors?

  Correct Answer  

Managing Directors and Secretary

  Your Answer  

Managing Directors and Secretary

 

 Select The Blank

  Question  

As per section ________ it is obligatory on every person responsible for payment.

  Correct Answer  

4

  Your Answer  

4

 

 Multiple Choice Multiple Answer

  Question  

FDI prohibited activities are :-

  Correct Answer  

Retail trading , Gambling & betting , Housing & real estate

  Your Answer  

Retail trading , Gambling & betting , Housing & real estate

 

 True/False

  Question  

Every company shall keep a register showing the particulars in respect of every loan or investment made, guarantee given or security provided.

  Correct Answer  

True

  Your Answer  

True

 

 True/False

  Question  

Wages includes any travelling allowance for travel concession.

  Correct Answer  

False

  Your Answer  

False

 

 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

	LIST OF ATTEMPTED QUESTIONS AND ANSWERS

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