LIST OF ATTEMPTED QUESTIONS AND ANSWERS
True/False
Question Form no 17 &13 are to be filed when the entire loan amount is
repaid.
Correct Answer True
Your Answer True
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
Select The Blank
Question The definition of ECB in India is partly in alignment with
________ Act.
Correct Answer FERA
Your Answer FERA
True/False
Question Company may have nominee director.
Correct Answer True
Your Answer False
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 , Financial position of the company ,
Amounts transferred to Reserves
True/False
Question Every company has to inform ROC about the place where it
keeps books of account.
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question Who is entitled to bonus?
Correct Answer Temporary workmen , Part time employee , Retrenched
employee
Your Answer Temporary workmen , Part time employee , Retrenched
employee
Multiple Choice Multiple Answer
Question Debentures can be :-
Correct Answer Redeemable , Convertible , Party convertible and redeemable
Your Answer Redeemable , Convertible , Party convertible and redeemable
True/False
Question A non executive director is not a substantial shareholder of the
company.
Correct Answer True
Your Answer True
Select The Blank
Question Liability clause can be found in ________.
Correct Answer Memorandum of Association
Your Answer Memorandum of Association
Select The Blank
Question Under the industrial disputes act 1947________is an appropriate
government.
Correct Answer Central government
Your Answer Central government
Multiple Choice Multiple Answer
Question Directors' Responsibility Statement refers to :-
Correct Answer Going concern , Accounting policies , Accounting standards
Your Answer Going concern , Accounting policies , Accounting standards
Multiple Choice Multiple Answer
Question The provision related to register are not applicable to :-
Correct Answer Banking company or insurance company , A company whose
principle business is acquisition of shares, stock, debentures or
other securities , A private limited company unless it is a
subsidiary of public company.
Your Answer Banking company or insurance company , A company whose
principle business is acquisition of shares, stock, debentures or
other securities , A private limited company unless it is a
subsidiary of public company.
True/False
Question A director is not required to take qualification share.
Correct Answer False
Your Answer False
Select The Blank
Question The Forms 8 &13 should be filed in ________ to ragistrar of
companies.
Correct Answer Triplicate
Your Answer Triplicate
Select The Blank
Question Payment of ________ requires registration from RBI.
Correct Answer Royalty
Your Answer Royalty
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 As per the provisions of Companies Act 1956, company can
issue shares with :-
Correct Answer Differential voting rights
Your Answer Differential voting rights
True/False
Question Indian companies are exempted from filing a return by ECB-2.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question When was the factories act passed?
Correct Answer In 1948
Your Answer In 1948
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 Maximum fine which can be levied for default in placing accounts
before AGM is :-
Correct Answer Rs. 50,000
Your Answer Rs. 50,000
True/False
Question No person can be appointed as an auditor of the company who
is in full time employment.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Which person is responsible for he payment of wages act ?
Correct Answer Managers
Your Answer Managers
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 Every member of a company limited by shares and holding any
equity share capital therein shall have :-
Correct Answer Right to vote
Your Answer Right to vote
Multiple Choice Single Answer
Question There should not be a gap of more than 15 months between :-
Correct Answer Two annual general meetings
Your Answer Two annual general meetings
Multiple Choice Multiple Answer
Question Director can be appointed without counting the number in :-
Correct Answer Private limited company , Unlimited company , Charitable
association
Your Answer Private limited company , Unlimited company , Charitable
association
Match The Following
Question Correct Answer Your Answer
Dividend balancing Over 7 years from
production
Over 7 years from
production
Investment cap 26% Insurance Insurance
Investment cap 100% Housing & real estate Housing & real estate
Foreign companies Project office Project office
True/False
Question Wages does not include an amenity or service or special order of
the appropriate government.
Correct Answer True
Your Answer True
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 Single Answer
Question Outside India residents have Automatic Route of RBI for
investments for this activity :-
Correct Answer 26% in Insurance
Your Answer 26% in Insurance
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
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
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
Select The Blank
Question ________ is one of the critical matter which should be decided
by the postal ballot.
Correct Answer Corporate restructuring
Your Answer Corporate restructuring
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 The annual accounts of the company are signed on behalf of the
Board by :-
Correct Answer Managing director , Two Directors , Company Secretary
Your Answer Managing director , Two Directors , Company Secretary
Match The Following
Question Correct Answer Your Answer
Audit Report Opinion on the
examination of books of
accounts
Opinion on the
examination of books of
accounts
Auditor A person who conducts
the audits
A person who conducts the
audits
Qualified for audit Eligible to conduct the
audit
Eligible to conduct the
audit
Cost auditor A cost accountant, who is
suppose to conduct cost
audit of the company.
A cost accountant, who is
suppose to conduct cost
audit of the company.
Select The Blank
Question WOS can make payment of royalty by ________ route.
Correct Answer Automatic route
Your Answer Automatic route
Select The Blank
Question Every ________ Company has to hold Statutory Meeting of the
members.
Correct Answer Public
Your Answer Public
True/False
Question Company can not issue shares with differential voting/ dividend
rights.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question Private Company means a company which :-
Correct Answer Limits number of members , Prohibits invitation to public for
shares , Prohibits invitation to public for deposits
Your Answer Limits number of members , Prohibits invitation to public for
shares , Prohibits invitation to public for deposits
Multiple Choice Single Answer
Question In one financial year other than Nepal & Bhutan the investments
in other countries should not exceed more than :-
Correct Answer US $ 100 Million
Your Answer US $ 100 Million
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
Your Answer Non-repatriation basis , Loan by inward remittance
Select The Blank
Question The chairman of the audit committee shall attend ________ to
provide clarification on matters relating to audit.
Correct Answer Annual general meeting
Your Answer Annual general meeting
Multiple Choice Single Answer
Question What right does the payment of bonus act give ?
Correct Answer Statutory right to share in profits
Your Answer Statutory right to share in profits
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