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Friday, March 4, 2016

Legal Aspects of Finance SCDL Solved Paper - 50
















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

Thanks to : Saroj


True/False
  Question 
 Only individuals can be appointed as directors of the company.
  Answer 
 True
 Multiple Choice Single Answer
  Question  
FEMA Norms are compatible with :-
  Answer 
 FERA
 Multiple Choice Multiple Answer
  Question  
WOS are allowed to :-
  Answer 
 Pay royalty , Offshore payment , By automatic route 
 Multiple Choice Multiple Answer
  Question 
 The register in respect of every investment or loan made, contains
  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 
 True/False
  Question  
Deductions for income tax, payable by the employed person is permissible.
  Answer  
TRUE
 True/False
  Question  
Financial year and calendar year are one and the same thing.
  Answer
  False
 Multiple Choice Single Answer
  Question  
How would you define salary or wage?
  Answer 
 All remuneration other than in respect of overtime work of the work done in such employment
 Multiple Choice Single Answer
  Question  
In case of cost audit, the report of cost auditor has to be submitted to central government, within :-
  Answer 
 120 Days
 Multiple Choice Multiple Answer
  Question  
Books of account with respect to following are required to be kept :-
  Answer  
Money received & expended , Sales & purchases of goods , Assets & liabilities 
 Multiple Choice Multiple Answer
  Question  
Appointment of receiver under sec.137 containt
  Answer  
Name , address and date of appointment of receiver , date on which the receiver ceased to act 
 Multiple Choice Single Answer
  Question 
 In the case of prevention of operation and mismanagement application is to be made to company law board by
  Answer 
 Member
 Multiple Choice Multiple Answer
  Question  
Retiring director shall be deemed to be reappointed unless :-
  Answer  
He has expressed his unwillingness to be re-appointed , He is disqualified for appointment , Resolution for reappointment has been put to vote & lost 
 Select The Blank
  Question
  If an employer derives profit in any of the first ________ years he has to pay bonus for that year.
  Answer
5
 True/False
  Question  
Every company has to appoint an auditor to audit the accounts of the company and has to fix remuneration to be paid to the auditor.
  Answer 
 True
 True/False
  Question 
 Senior managers are members of management, one level below the executive director.
  Answer
  True
 Multiple Choice Multiple Answer
  Question  
The penalties are levied for which offences done?
  Answer  
Pay less than minimum wages , Pay less than fixed wages , Contravenes any rule or order 
 True/False
  Question  
Board may appoint additional directors.
  Answer
  True
 Multiple Choice Single Answer
  Question 
 Which report is received by the shareholders annually ?
  Answer  
Directors report


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

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