Legal Aspects of Finance - 24

Legal aspects of finance

Multiple Choice Single Answer
Question When was the minimum wages act passed ?
Correct Answer 1948
Your Answer 1948
Select The Blank
Question For Special Resolution, votes cast in favour of the resolution should be
________ times more than votes cast against the resolution.
Correct Answer 3
Your Answer 3
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 , Draft resolution
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 , Salary less than
1200 per month
Multiple Choice Multiple Answer
Question Under which circumstances will the worker not receive wages for full normal
working days ?
Correct Answer If failure to work is caused by unwillingness to work , Not by
omission of the employer to provide him with work
Your Answer If failure to work is caused by unwillingness to work , Not by omission
of the employer to provide him with work , He works for more than full working hours
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 Who is an independent director?
Correct Answer Non executive director , Who receives director remuneration , Who is
not related to the promoters
Your Answer Non executive director , Who receives director remuneration , Who is
not related to the promoters
Select The Blank
Question Board has power to receive of notice of ________.
Correct Answer Disclosure of interest
Your Answer Disclosure of interest
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 45 days
Select The Blank
Question The ________ issue shall be by way of public issue.
Correct Answer NCD
Your Answer RTO
Select The Blank
Question Under section ________ period in respect of which wages would be paid
would be determined.
Correct Answer 3
Your Answer 3
True/False
Question A piece rated worker is entitled to bonus.
Correct Answer True
Your Answer False
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
Select The Blank
Question ________ includes legal representative of deceased employer.
Correct Answer Employer
Your Answer Doctor
Match The Following
Question Correct Answer Your Answer
dismissed employee for bonus Gannon India vs. niranjan das Gannon India vs. niranjan
das
part time employee entitled to bonus automobile karmachari sang vs. industrial tribunal
1970 automobile karmachari sang vs. industrial tribunal 1970
retrenched employee entitled for bonus' east Asiatic company vs. industrial tribunal 1961
east Asiatic company vs. industrial tribunal 1961
probationer for bonus' bank of madura vs. employees union 1970 bank of madura vs.
employees union 1970
True/False
Question Only individuals can be appointed as directors of the company.
Correct Answer True
Your Answer False
Multiple Choice Single Answer
Question FEMA Norms are compatible with :-
Correct Answer FERA
Your Answer FERA
Multiple Choice Multiple Answer
Question WOS are allowed to :-
Correct Answer Pay royalty , Offshore payment , By automatic route
Your Answer Pay royalty , Offshore payment , By automatic route
Multiple Choice Multiple Answer
Question The register in respect of every investment or loan made, contains
Correct Answer The name of body corporate , The amount, terms & conditions &
purpose of investment or loan or security or guarantee , The date on which the investment
or loan has been made
Your Answer The name of body corporate , The amount, terms & conditions &
purpose of investment or loan or security or guarantee , The date on which the investment
or loan has been made
True/False
Question Deductions for income tax, payable by the employed person is permissible.
Correct Answer True
Your Answer True
True/False
Question Financial year and calendar year are one and the same thing.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question How would you define salary or wage?
Correct Answer All remuneration other than in respect of overtime work of the work
done in such employment
Your Answer All remuneration including overtime
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 90 Days
Multiple Choice Multiple Answer
Question Books of account with respect to following are required to be kept :-
Correct Answer Money received & expended , Sales & purchases of goods , Assets &
liabilities
Your Answer Shares of the company bought & sold by the members , Money received
& expended , Sales & purchases of goods
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 , Receivers Professional qualification
Multiple Choice Single Answer
Question In the case of prevention of operation and mismanagement application is to
be made to company law board by
Correct Answer Member
Your Answer Member
Multiple Choice Multiple Answer
Question Retiring director shall be deemed to be reappointed unless :-
Correct Answer He has expressed his unwillingness to be re-appointed , He is
disqualified for appointment , Resolution for reappointment has been put to vote & lost
Your Answer He has expressed his unwillingness to be re-appointed , He is
disqualified for appointment , Resolution for reappointment has been put to vote & lost
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 Every company has to appoint an auditor to audit the accounts of the
company and has to fix remuneration to be paid to the auditor.
Correct Answer True
Your Answer True
True/False
Question Senior managers are members of management, one level below the executive
director.
Correct Answer True
Your Answer True
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 more than fixed wages , Pay less than minimum wages , Pay less
than fixed wages
True/False
Question Board may appoint additional directors.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Which report is received by the shareholders annually ?
Correct Answer Directors report
Your Answer Directors report
Select The Blank
Question The recommendations of audit committee relating to financial management
shall be ________.
Correct Answer Binding
Your Answer Recommendary
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
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
Multiple Choice Single Answer
Question A director of a company can be removed by :-
Correct Answer Ordinary resolution
Your Answer Special resolution
Multiple Choice Single Answer
Question Compliance Report is signed by :-
Correct Answer Company Secretary in practice
Your Answer Board of Directors
Select The Blank
Question Director has to vacate his office, if he has been ________ by a court of any
offence involving moral turpitude.
Correct Answer Convicted
Your Answer Convicted
True/False
Question Any gratuity payable on termination of employment is included in wages.
Correct Answer False
Your Answer True
Multiple Choice Single Answer
Question A director has to vacate his office, if he is adjudged as :-
Correct Answer Insolvent
Your Answer Solvent
Match The Following
Question Correct Answer Your Answer
Notice Circulation for day, time of meeting Circulation for day, time of meeting
Sole selling agent Have exclusive right to sale for company in specified area Have
exclusive right to sale for company in specified area
Audit committee Appointed for specific purpose related to audit Appointed for assistance
to board of directors
Quorum Minimum required persons for meeting Minimum required persons for meeting
True/False
Question Employee includes an out worker to whom any article or material are given
out by another person for repair or cleaning.
Correct Answer True
Your Answer False
Select The Blank
Question The Postal ballot paper should be returned to the company within ________
from the dispatch of ballot paper.
Correct Answer 30 days
Your Answer 15 days
Multiple Choice Multiple Answer
Question Debentures can be :-
Correct Answer Redeemable , Convertible , Party convertible and redeemable
Your Answer Redeemable , Convertible , Party convertible and redeemable
Multiple Choice Single Answer
Question Single director can sign the annual accounts if :-
Correct Answer Only one director in India for the time being
Your Answer He is authorised by the Board in this regard
Select The Blank
Question Copies of annual accounts are to be filed within ________ days from AGM
with ROC.
Correct Answer 30 daysYour Answer 21 days