LIST OF ATTEMPTED QUESTIONS AND ANSWERS

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 Amount adjudged is not due to penalty , For which any application claim has already been presented , Direction of claim already given'

Your Answer For which any application claim has already been presented , Direction of claim already given' , Amount adjudged is not due to penalty

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

Select The Blank

Question A person who stands for directorship other than retiring director has to give notice to the company at least ________ before the date of general meeting.

Correct Answer 14 days

Your Answer 15 days

Multiple Choice Single Answer

Question In case of cost audit, the report of cost auditor has to be submitted to central government, within :-

Correct Answer 120 Days

Your Answer 45 Days

Multiple Choice Multiple Answer

Question During the course of audit, auditor is supposed to check :-

Correct Answer Transaction Vouchers , Cash and Bank balances , Fixed assets register

Your Answer Transaction Vouchers , Fixed assets register , Register of creditors

True/False

Question The national labour commission on labour has described the assessing of the act as landmark in the history of labour legislation in the country.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question A director of a company can be removed by :-

Correct Answer Ordinary resolution

Your Answer Ordinary resolution

Select The Blank

Question Every ________ Company has to hold Statutory Meeting of the members.

Correct Answer Public

Your Answer Limited

True/False

Question The independent director is a supplier of a service provider of the company.

Correct Answer False

Your Answer False

Multiple Choice Multiple Answer

Question SIA/FIPB approval is necessary in :-

Correct Answer 13 specified activities , Sector limits sought exceeded , Small scale sector items

Your Answer 13 specified activities , Sector limits sought exceeded , Small scale sector items

True/False

Question Only individuals can be appointed as directors of the company.

Correct Answer True

Your Answer True

True/False

Question In case of Postal Ballot, result is announced through post.

Correct Answer False

Your Answer True

Multiple Choice Multiple Answer

Question Briefly describe the scheme of the bonus act :-

Correct Answer To impose statutory liability upon every employer to pay bonus to employees , To define principle of payment of bonus as per the prescribed formula , To provide payment for minimum and maximum bonus and link the scheme for set off and set on

Your Answer To impose statutory liability upon every employer to pay bonus to employees , To define principle of payment of bonus as per the prescribed formula , To provide payment for minimum and maximum bonus and link the scheme for set off and set on

Select The Blank

Question Articles of Association are rules for ________.

Correct Answer Internal management

Your Answer Internal management

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

Select The Blank

Question ________ of the company has absolute discretion in regard to inclusion or non inclusion of any matter in the minutes.

Correct Answer Chairman

Your Answer Share-holders who attended the meeting

Multiple Choice Multiple Answer

Question Debentures can be :-

Correct Answer Redeemable , Convertible , Party convertible and redeemable

Your Answer Party convertible and redeemable , Redeemable , Convertible

Select The Blank

Question Subject to other provisions of this act every employer shall be bound to pay every employee in respect of the accounting year commencing on any day in the year ________.

Correct Answer 1979

Your Answer 1979

Match The Following

Question Correct Answer Your Answer

Indian company borrowings Redemption more than 3 years Redemption more than 3 years

Borrowing by NRE Loan less than 3 years Regulated ROI

Borrowings in Rupees Regulated ROI Loan less than 3 years

NCD issue Public issue Public issue

Multiple Choice Multiple Answer

Question Object Clauses are divided into :-

Correct Answer Main Object , Object incidental or ancillary to Main , Other Objects

Your Answer Main Object , Object incidental or ancillary to Main , Other Objects

Multiple Choice Single Answer

Question The notice of the meeting be sent to all the directors at their :-

Correct Answer Usual residential address

Your Answer Usual postal address

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

Select The Blank

Question First AGM should be held within ________ from closure of financial year.

Correct Answer 9 months

Your Answer 6 months

True/False

Question An apprentice is not entitled to bonus.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question Company has to make application to central government, in case of appointment of managing director is not made accordance with part I & II of schedule XIII, within :-

Correct Answer 90 days

Your Answer 30 days

Multiple Choice Multiple Answer

Question Preference shares can be :-

Correct Answer Cumulative redeemable , Non- cumulative redeemable , Participatory

Your Answer Cumulative redeemable , Non- cumulative redeemable , Participatory

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 Multiple Answer

Question Following Resolutions must be passed by Postal Ballot :-

Correct Answer Alteration in Object Clause , Buy-back of own shares , Variation in rights attached to class of shares

Your Answer Alteration in Object Clause , Buy-back of own shares , Variation in rights attached to class of shares

Multiple Choice Multiple Answer

Question In calculating the limit of all the companies which companies are excluded?

Correct Answer Foreign companies , Private Companies , Non Profit making companies

Your Answer Foreign companies , Non Profit making companies , Public limited companies

Multiple Choice Multiple Answer

Question Borrowings for Indian companies are for :-

Correct Answer In Rupees , On repatriation , Non-repatriation

Your Answer In Rupees , On repatriation , Non-repatriation

True/False

Question There can be an Ordinary Resolution for Special business.

Correct Answer True

Your Answer True

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

Select The Blank

Question Payment of ________ requires registration from RBI.

Correct Answer Royalty

Your Answer Royalty

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 The representations received for revision or fixation or reverse the rate of minimum wages by notification in the official gazette are considered by :-

Correct Answer Advisory board

Your Answer Advisory board

Multiple Choice Single Answer

Question Number of shareholders entitled to requisition a meeting shall be carrying

Correct Answer Not less than 10 per cent of voting power

Your Answer Not less than 10 per cent of voting power

Multiple Choice Single Answer

Question After incorporation of the company, the first auditor is generally appointed within :-

Correct Answer One Month

Your Answer One Month

True/False

Question Foreign technical collaborations are permitted.

Correct Answer False

Your Answer True

True/False

Question Company may have alternate director.

Correct Answer True

Your Answer False

Multiple Choice Single Answer

Question The minimum wages act falls under which scope ?

Correct Answer Scope of entry 27 I list III of schedule IV of constitution of India

Your Answer Schedule 9 of section 23

Multiple Choice Single Answer

Question Declaration of Compliance with requirements of the Companies Act

Correct Answer Form 1

Your Answer Form 32

Multiple Choice Single Answer

Question Company can increase its maximum number of directors, for which application is required to be made in :-

Correct Answer Form no 24

Your Answer Form no 24

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

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

Select The Blank

Question Authorized dealer may freely open ________ and allow remittance for import of goods.

Correct Answer Letter of credit

Your Answer Letter of credit

Select The Blank

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

Correct Answer Remuneration

Your Answer Remuneration

---