Legal Aspects of Finance SCDL Solved Paper - 46

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

Multiple Choice Multiple Answer
Question	What is the manner of fixation of minimum wages?
Correct Answer	Time work known as minimum time rate , Piece work known as minimum piece rate , Guaranteed time rate for those employed in piece work for the purpose of securing to such employees a minimum rate of wages on time work basis
Multiple Choice Single Answer
Question	How much percentage of block of voting shares does the independent director not own ?
Correct Answer	0.02
True/False
Question	An employee employed through contractors on building operations is entitled to bonus.
Correct Answer	FALSE
True/False
Question	The act is undoubtedly a welfare legislation in favour of workers and more than an essential measure for economic upliftment of the workers in the sweated industries.
Correct Answer	TRUE
Multiple Choice Single Answer
Question	It should be noted that the company has to pay on loan document the :-
Correct Answer	Stamp duty
Multiple Choice Single Answer
Question	Which period results for the company are required to be made available to the board in the meeting of board of directors?
Correct Answer	Quarterly results
Multiple Choice Single Answer
Question	Venture capital Funds are regulated as per the Norms of :-
Correct Answer	SEBI
Select The Blank
Question	Preference shareholders have ________ to get dividend over equity share holders.
Correct Answer	Preferential right
Multiple Choice Single Answer
Question	Who is empowered to specify the Foreign Exchange transactions limits under FEMA?
Correct Answer	Reserve Bank of India
Multiple Choice Single Answer
Question	Long - term borrowings schemes have which maturity period?
Correct Answer	Eight years
Select The Blank
Question	________ is one of the critical matter which should be decided by the postal ballot.
Correct Answer	Corporate restructuring
True/False
Question	There should be a gap of more than 4 months to have the meeting of the board of directors.
Correct Answer	FALSE
True/False
Question	Every company shall have a qualified and independent audit committee.
Correct Answer	TRUE
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
Multiple Choice Single Answer
Question	What does salary or wage include?
Correct Answer	Dearness allowance
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
True/False
Question	Every company has to inform ROC about the place where it keeps books of account.
Correct Answer	FALSE
True/False
Question	Company may have alternate director.
Correct Answer	TRUE
Select The Blank
Question	To avoid conflicts of interest, ________ committee would determine the remuneration packages of the executive directors.
Correct Answer	Remuneration
Multiple Choice Multiple Answer
Question	Current Account transactions are permitted if payment is made out of :-
Correct Answer	EEFC Account , RFC Account

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