Select The Blank

  Question  

Copies of annual accounts are to be filed within ________ days from AGM with ROC.

  Correct Answer  

30 days

  Your Answer  

90 days

 

 True/False

  Question  

Sectoral cap on investment by person resident outside India on Mass rapid Transport is 50%.

  Correct Answer  

False

  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

 

 Multiple Choice Single Answer

  Question  

A director has to vacate his office, if he is adjudged as :-

  Correct Answer  

Insolvent

  Your Answer  

Insolvent

 

 Multiple Choice Single Answer

  Question  

Define an employee under section 2 (13) :-

  Correct Answer  

Person employed with salary exceeding Rs 3500

  Your Answer  

Person employed with salary exceeding Rs 2500

 

 True/False

  Question  

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

  Correct Answer  

True

  Your Answer  

True

 

 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The earlier "Fast Track" investments route has been replaced by?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  

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

 

 Multiple Choice Single Answer

  Question  

Payment of wages act came into existence :-

  Correct Answer  

To ensure regular and timely payment of wages to employed persons

  Your Answer  

To pay wages after a years time

 

 Select The Blank

  Question  

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

  Correct Answer  

Binding

  Your Answer  

Binding

 

 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  

Borrowings for Indian companies are for :-

  Correct Answer  

On repatriation , Non-repatriation , In Rupees

  Your Answer  

In Rupees , On repatriation , On Payments made

 

 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 Single Answer

  Question  

To whom does the payment of wages act apply to ?

  Correct Answer  

Persons employed in any factory

  Your Answer  

Persons employed in any factory

 

 Multiple Choice Single Answer

  Question  

What is the minimum salary under which the persons are covered in this act?

  Correct Answer  

Less than Rs 1600

  Your Answer  

Less than Rs 1600

 

 Multiple Choice Single Answer

  Question  

Define an employed person under section 2 of the act.

  Correct Answer  

Includes legal representative of a deceased employed person

  Your Answer  

Includes legal representative of a deceased employed person

 

 Multiple Choice Multiple Answer

  Question  

Following are the points related to Qualification share that every director has to take :-

  Correct Answer  

Minimum Share value Rs.5000/- , Within two months of date of appointment , If fails to obtain then he has to resign from the post

  Your Answer  

Minimum Share value Rs.5000/- , Within two months of date of appointment , If fails to obtain then he has to resign from the post

 

 Match The Following

Question

Correct Answer

Your Answer

Interim Dividend

Board of Directors

Ordinary Resolution

Reduction of capital

Special Resolution

National Advisory Committee

Appointment of Managing Director

Ordinary Resolution

Board of Directors

Accounting Standards

National Advisory Committee

Special Resolution

 

 True/False

  Question  

A General Meeting may also be called by giving shorter notice than 21 days.

  Correct Answer  

True

  Your Answer  

True

 

 Multiple Choice Multiple Answer

  Question  

Board's Report shall include :-

  Correct Answer  

Dividend recommended , Financial position of the company , Amounts transferred to Reserves

  Your Answer  

Dividend recommended , Taxes paid , Financial position of the company

 

 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

 

 Multiple Choice Single Answer

  Question  

The Balance Sheet should be in the form set out in Part I of :-

  Correct Answer  

Schedule VI

  Your Answer  

Schedule VI

 

 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  

When was the minimum wages act passed ?

  Correct Answer  

1948

  Your Answer  

1948

 

 True/False

  Question  

Foreign technical collaborations are permitted.

  Correct Answer  

False

  Your Answer  

True

 

 True/False

  Question  

Wages includes any travelling allowance for travel concession.

  Correct Answer  

False

  Your Answer  

False

 

 Multiple Choice Single Answer

  Question  

Companies Act presently implemented and adhered by companies is :-

  Correct Answer  

Companies Act, 1956

  Your Answer  

Companies Act, 1956

 

 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

 

 Select The Blank

  Question  

To avoid conflicts of interest, ________ committee would determine the remuneration packages of the executive directors.

  Correct Answer  

Remuneration

  Your Answer  

Board members

 

 Multiple Choice Single Answer

  Question  

A director of a company can be removed by :-

  Correct Answer  

Ordinary resolution

  Your Answer  

Ordinary resolution

 

 True/False

  Question  

The loan to any body corporate shall be made at the rate of interest not less than that prevailing bank rate as may be prescribed by Reserve Bank of India.

  Correct Answer  

True

  Your Answer  

True

 

 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  

Articles of Association are rules for ________.

  Correct Answer  

Internal management

  Your Answer  

Internal management

 

 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

 

 Multiple Choice Single Answer

  Question  

The period for realization for export of goods from the date of shipment is at :-

  Correct Answer  

Six month

  Your Answer  

Six month

 

 Multiple Choice Single Answer

  Question  

Accounting Standards are issued by :-

  Correct Answer  

Institute of Chartered Accountants

  Your Answer  

Institute of Chartered Accountants

 

 Multiple Choice Multiple Answer

  Question  

Describe in brief what does the term wages include?

  Correct Answer  

Remuneration under any award , Settlement between the parties or order of court , Overtime

  Your Answer  

Remuneration under any award , Settlement between the parties or order of court , Overtime

 

 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

 

 Select The Blank

  Question  

________means all remuneration expressed in terms of money.

  Correct Answer  

Wages

  Your Answer  

Wages

 

 Multiple Choice Multiple Answer

  Question  

The Indian company may issue bonus shares to its non resident shareholders subject to :-

  Correct Answer  

Held by non resident shareholder , As per acquisition , In the Form of FC-GPR

  Your Answer  

Held by non resident shareholder , As per acquisition , In the Form of FC-GPR , Willingness of company

 

 Match The Following

Question

Correct Answer

Your Answer

Section 2(vi)

Wages

Wages

Wages act

1936

1936

Factories act

1948

1948

Section 3 of wages act

Every employer responsible for payment to employed persons

Every employer responsible for payment to employed persons

 

 Multiple Choice Multiple Answer

  Question  

Board may by resolution passed at the meeting delegate the powers to :-

  Correct Answer  

Committee of directors , Managing director , Manager

  Your Answer  

Committee of directors , Managing director , Manager

 

 True/False

  Question  

Meeting of the board of Directors shall be held at least 4 times in a year.

  Correct Answer  

True

  Your Answer  

True

 

 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  

A temporary workman is not entitled to bonus though he works for a few days in the organisation.

  Correct Answer  

False

  Your Answer  

False

 

 Multiple Choice Single Answer

  Question  

Which person is responsible for he payment of wages act ?

  Correct Answer  

Managers

  Your Answer  

Managers

 

 Select The Blank

  Question  

Multimodal ________ making remittance to their agents abroad.

  Correct Answer  

Transport operators

  Your Answer  

Transport operators

	LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Bottom of Form

 

 

	Score Card

	Registration Number:	200404214
	Name:	Manpreet Malhotra
	Subject:	Legal Aspect Of Finance
	Assignment Status As On:	18/03/2006

 Result for this Assignment

 Assignment Date

 17/03/2006

 Number of Correct Questions

 37

 Number of Skipped Questions

 10

 Number of Wrong Questions

 10

 Total Questions attempted

 57

 Total Marks obtained

 78 Out of 100.

 Result

 Pass

Click here to view the list of attempted question and answers.

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