Legal Aspects of Finance SCDL Solved Paper - 47

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

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
True/False
Question	A director is not required to take qualification share.
Correct Answer	FALSE
Multiple Choice Single Answer
Question	If an auditor after his appointment becomes subject to any of the disqualifications, it is treated that the office is :-
Correct Answer	Vacated
Select The Blank
Question	The form should be filled within ________ days from the date of execution of document.
Correct Answer	30 days
Select The Blank
Question	Sweeping powers such as search and arrest contained in Foreign Exchange ________ Act.
Correct Answer	Control
Multiple Choice Single Answer
Question	The Name availability issued by ROC is valid for :-
Correct Answer	Six months
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
Multiple Choice Single Answer
Question	The Board is required to give explanation for the adverse remark given by :-
Correct Answer	Auditor
Select The Blank
Question	For private company, numbers of members do not include ________.
Correct Answer	Employees of company
Multiple Choice Multiple Answer
Question	WOS are allowed to :-
Correct Answer	Pay royalty , Offshore payment , By automatic route
Multiple Choice Multiple Answer
Question	Directors' Responsibility Statement refers to :-
Correct Answer	Going concern , Accounting policies , Accounting standards
Select The Blank
Question	The management should clearly disclose ________ in auditor’s report
Correct Answer	Contingent liabilities
Multiple Choice Single Answer
Question	Audit committee shall consist of not less than :-
Correct Answer	Three directors
True/False
Question	The loan to anybody corporate shall be made at the rate of interest not less than that prevailing bank rate as may be prescribed by Reserve Bank of India.
Correct Answer	TRUE
Multiple Choice Single Answer
Question	Authentication of Annual Accounts means :-
Correct Answer	Correctness of the accounts
Multiple Choice Multiple Answer
Question	Which committees are considered for calculating the limit of the companies
Correct Answer	Audit committees , Remuneration Committee , Shareholders Grievance Committee
Multiple Choice Multiple Answer
Question	Object Clauses are divided into :-
Correct Answer	Main Object , Object incidental or ancillary to Main , Other Objects
Multiple Choice Multiple Answer
Question	Board of directors have to take consent of general meeting for :-
Correct Answer	Sale, lease or dispose of company's property , Give time to repayment of debt due by director , Contribute to charitable funds exceeding Rs 50000/- or 5% of average net profits
True/False
Question	The independent director is a supplier of a service provider of the company.
Correct Answer	FALSE
Select The Blank
Question	Liability clause can be found in ________.
Correct Answer	Memorandum of Association

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