Legal Aspects of Finance SCDL Solved Paper - 45

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

True/False
Question	A temporary workman is not entitled to bonus though he works for a few days in the organization.
Correct Answer	FALSE
Multiple Choice Multiple Answer
Question	A person cannot be appointed as director of the company if :-
Correct Answer	He is found to be of unsound mind , He is declared as an insolvent , He has not taken qualification shares
Multiple Choice Single Answer
Question	A company which restricts the right to transfer its shares is :-
Correct Answer	Private Ltd. Company
True/False
Question	Only individuals can be appointed as directors of the company.
Correct Answer	TRUE
Multiple Choice Multiple Answer
Question	Director can be appointed without counting the number in :-
Correct Answer	Private limited company , Unlimited company , Charitable association
Select The Blank
Question	Subject to other provisions of this act every employer shall be bound to pay every employee in respect of the accounting year commencing on any day in the year ________.
Correct Answer	1979
Select The Blank
Question	Under the industrial disputes act 1947________is an appropriate government.
Correct Answer	Central government
True/False
Question	After completion of Ordinary business other business is transacted at Extra ordinary General Meeting.
Correct Answer	FALSE
Select The Blank
Question	________shall certify that they have reviewed the balance sheet and profit and loss account.
Correct Answer	CEO
Select The Blank
Question	________ includes legal representative of deceased employer.
Correct Answer	Employer
Select The Blank
Question	Any payment in respect on ________ can be deducted from the wages of an employed person.
Correct Answer	Fidelity guarantee bond
Select The Blank
Question	A member shall have right to apply for operations and mismanagement of the company provided application is made by members not less than ________ or by the members holding not less than one tenth of total number of shares in the share capital of the company.
Correct Answer	100
Select The Blank
Question	A statement of all transactions with the related parties including the basis shall be placed before the ________.
Correct Answer	Audit committee
Multiple Choice Single Answer
Question	Explanatory Statement should be annexed to Notice for :-
Correct Answer	Special business
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
True/False
Question	Sectoral cap on investment by person resident outside India on Mass rapid Transport is 50%.
Correct Answer	FALSE
Multiple Choice Single Answer
Question	Define an employee under section 2 (13) :-
Correct Answer	Person employed with salary exceeding Rs 3500
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
Select The Blank
Question	The minimum wages to the obligations created by the convention no 26 of ________.
Correct Answer	International labor organization
Multiple Choice Multiple Answer
Question	Borrowings for Indian companies are for :-
Correct Answer	On repatriation , Non-repatriation , In Rupees
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
Multiple Choice Multiple Answer
Question	Following are the points related to Qualification share that every director has to take :-
Correct Answer	Minimum Share value Rs.5000/- , Within two months of date of appointment , If fails to obtain then he has to resign from the post

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