This solved paper of SCDL Legal Aspects of Finance of SCDL Pune has been contributed by XYZ
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Multiple Choice
Single Answer
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Question
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Which companies have
to comply with the provisions of Clause 49 of listing agreement ?
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Answer
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Listed Companies
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True/False
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Question
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Former director can
take inspection of books of account for the years when he was director.
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Answer
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FALSE
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Select The Blank
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Question
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As per section 5 in
case of railways if the persons employed is less than ________ the wages
shall be paid before the expiry of 7th day.
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Answer
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1000
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True/False
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Question
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Statutory Meeting
must be held on a working day.
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Answer
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FALSE
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Multiple Choice
Multiple Answer
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Question
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Current Account
transactions include :-
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Answer
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Payments for foreign
Trade , Payments for Interest , Foreign Travel Expenses
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Multiple Choice
Multiple Answer
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Question
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Statutory Report
pertains to :-
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Answer
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Funds raised by the
company , Utilisation of funds , Investments made by the company
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Multiple Choice
Single Answer
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Question
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For which activity
FDI is not prohibited?
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Answer
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Insurance
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True/False
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Question
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Any gratuity payable
on termination of employment is included in wages.
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Answer
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FALSE
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True/False
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Question
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Deductions for
income tax, payable by the employed person is permissible.
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Answer
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TRUE
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Select The Blank
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Question
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The Forms 8 &13
should be filed in ________ to ragistrar of companies.
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Answer
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Triplicate
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True/False
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Question
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A company can be
incorporated with the name using words Hindustan, India.
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Answer
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TRUE
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True/False
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Question
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It is not obligatory
for the board of directors to lay down the code of conduct for all the board
members.
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Answer
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FALSE
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True/False
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Question
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Wages includes any
remuneration payable under any award or settlement between the parties or
order of court.
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Answer
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TRUE
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Multiple Choice
Single Answer
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Question
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The Document
spelling out internal management of the Company is :-
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Answer
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Articles of
Association
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True/False
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Question
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FEMA is also
applicable to agencies outside India that are controlled by residents in
India.
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Answer
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TRUE
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Multiple Choice
Multiple Answer
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Question
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For registering
certain resolutions, following documents are submitted :-
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Answer
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Form 23 , Certified
copy of resolution , Copy of explanatory statement
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Multiple Choice
Single Answer
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Question
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Maturity period for
USD 5 million scheme is :-
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Answer
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Three years
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Multiple Choice
Single Answer
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Question
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A person can not be
appointed as managing or whole time director in more than :-
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Answer
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Two companies
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Multiple Choice
Single Answer
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Question
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Every auditor who
has in receipt from the company of the intimation of his appointment, has to
inform Registrar in writing that he has accepted or refused to accept the
appointment within :-
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Answer
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30 Days
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Multiple Choice
Single Answer
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Question
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Who fixes the
compensation to be paid to the non executive directors?
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Answer
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Board of Directors
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Multiple Choice
Multiple Answer
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Question
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Remittance
completely prohibited on :-
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Answer
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Dividend balancing ,
Telephone expanses , Interest on funds
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Select The Blank
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Question
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No loan or
investment shall be made or guarantee given by company unless ________ is
passed at the meeting by the board.
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Answer
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Resolution
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True/False
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Question
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Wages includes the
value of any house accommodation or supply of light and water.
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Answer
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FALSE
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Multiple Choice
Single Answer
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Question
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A director can hold
place of profit by :-
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Answer
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Special resolution
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Select The Blank
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Question
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Board has power to
receive of notice of ________.
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Answer
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Disclosure of
interest
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True/False
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Question
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Authorized dealer is
required to avail license under the exim policy in force.
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Answer
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TRUE
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Multiple Choice
Multiple Answer
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Question
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Who is not entitled
to bonus?
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Answer
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An apprentice ,
Employee employed through contractors
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Multiple Choice
Single Answer
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Question
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What is the optimum
combination of Board of Directors?
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Answer
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Managing Directors
and Secretary
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Select The Blank
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Question
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As per section
________ it is obligatory on every person responsible for payment.
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Answer
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4
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Multiple Choice
Multiple Answer
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Question
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FDI prohibited
activities are :-
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Answer
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Retail trading ,
Gambling & betting , Housing & real estate
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True/False
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Question
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Every company shall
keep a register showing the particulars in respect of every loan or
investment made, guarantee given or security provided.
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Answer
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TRUE
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True/False
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Question
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Wages includes any
travelling allowance for travel concession.
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Answer
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FALSE
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Select The Blank
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Question
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If an employer
derives profit in any of the first ________ years he has to pay bonus for
that year.
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Answer
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5
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Multiple Choice
Single Answer
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Question
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In which of the
companies the bonus act is applicable?
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Answer
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More than 20 persons
employed
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Select The Blank
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Question
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Authorized dealer
may freely open ________ and allow remittance for import of goods.
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Answer
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Letter of credit
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Multiple Choice
Single Answer
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Question
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Which person is
responsible for he payment of wages act ?
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Answer
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Managers
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Multiple Choice
Single Answer
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Question
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As per the
provisions of Companies Act 1956, company can issue shares with :-
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Answer
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Differential voting
rights
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Multiple Choice
Single Answer
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Question
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To whom does the
payment of wages act apply to ?
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Answer
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Persons employed in
any factory
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Multiple Choice
Multiple Answer
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Question
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What sums are
deductible from gross profit under section 8?
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Answer
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Amount by way of
depreciation , Employment rebate or investment allowance , Direct tax
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Multiple Choice
Multiple Answer
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Question
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What do you mean by
wages?
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Answer
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Remuneration by way
of salaries , Allowances , Expressed in terms of money
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Multiple Choice
Multiple Answer
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Question
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What does an
industrial or other establishment means as per section 2II?
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Answer
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Tramway service or
motor transport service engaged carrying passengers of hire or reward , Dock
wharf jetty , Plantation
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True/False
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Question
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A piece rated worker
is entitled to bonus.
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Answer
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TRUE
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Multiple Choice
Single Answer
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Question
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No preference shares
can be redeemed unless they are :-
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Answer
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Fully paid up
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Multiple Choice
Single Answer
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Question
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What do you mean by
establishment on private sector?
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Answer
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Any establishment
other than public sector
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Multiple Choice
Multiple Answer
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Question
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Person permanently
resident in India can return foreign exchange by :-
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Answer
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From AD , Travelling
abroad , As a gift
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True/False
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Question
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Wages include any
contribution paid by the employer to any pension fund or provided fund.
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Answer
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FALSE
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Multiple Choice
Single Answer
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Question
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ECB stands for :-
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Answer
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External Commercial
Borrowings
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Select The Blank
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Question
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Payment of ________
requires registration from RBI.
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Answer
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Royalty
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Note: Please tally the answers and verify them from SCDL textbooks as all answers might not be correct.
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