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Friday, October 24, 2014

Legal Aspects of Finance SCDL Solved Paper - 45

This solved paper of SCDL Legal Aspects of Finance of SCDL Pune has been contributed by XYZ


 True/False
  Question  
A temporary workman is not entitled to bonus though he works for a few days in the organization.
  Correct Answer  
FALSE
 Multiple Choice Multiple Answer
  Question  
A person cannot 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
 Multiple Choice Single Answer
  Question  
A company which restricts the right to transfer its shares is :-
  Correct Answer  
Private Ltd. Company
 True/False
  Question  
Only individuals can be appointed as directors of the company.
  Correct Answer  
TRUE
 Multiple Choice Multiple Answer
  Question  
Director can be appointed without counting the number in :-
  Correct Answer  
Private limited company , Unlimited company , Charitable association
 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
 Select The Blank
  Question  
Under the industrial disputes act 1947________is an appropriate government.
  Correct Answer  
Central government
 True/False
  Question  
After completion of Ordinary business other business is transacted at Extra ordinary General Meeting.
  Correct Answer  
FALSE
 Select The Blank
  Question  
________shall certify that they have reviewed the balance sheet and profit and loss account.
  Correct Answer  
CEO
 Select The Blank
  Question  
________ includes legal representative of deceased employer.
  Correct Answer  
Employer
 Select The Blank
  Question  
Any payment in respect on ________ can be deducted from the wages of an employed person.
  Correct Answer  
Fidelity guarantee bond
 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
 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
 Multiple Choice Single Answer
  Question  
Explanatory Statement should be annexed to Notice for :-
  Correct Answer  
Special business
 Multiple Choice Multiple Answer
  Question  
Conditions on borrowings by PIO are :-
  Correct Answer  
Non-repatriation basis , Loan by inward remittance , Account by lender in India
 True/False
  Question  
Sectoral cap on investment by person resident outside India on Mass rapid Transport is 50%.
  Correct Answer  
FALSE
 Multiple Choice Single Answer
  Question  
Define an employee under section 2 (13) :-
  Correct Answer  
Person employed with salary exceeding Rs 3500
 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
 Select The Blank
  Question  
The minimum wages to the obligations created by the convention no 26 of ________.
  Correct Answer  
International labor organization
 Multiple Choice Multiple Answer
  Question  
Borrowings for Indian companies are for :-
  Correct Answer  
On repatriation , Non-repatriation , In Rupees
 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
 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


Note: Please tally the answers and verify them from SCDL textbooks as all answers might not be correct.

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