Legal Aspects of Finance SCDL Solved Paper - 53

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

Multiple Choice Single Answer
Question	A director has to vacate his office, if he is adjudged as :-
Correct Answer	Insolvent
Multiple Choice Multiple Answer
Question	What is the role of the audit committee?
Correct Answer	Reviewing the company's financial and risk management policies , Review the annual financial statements , Recommending and appointment of external auditors
Multiple Choice Multiple Answer
Question	SIA/FIPB approval is necessary in :-
Correct Answer	13 specified activities , Sector limits sought exceeded , Small scale sector items
Multiple Choice Multiple Answer
Question	Following are the Forms to be submitted to ROC for incorporation of company :-
Correct Answer	Form 32 , Form 29 , Form 1
Multiple Choice Single Answer
Question	To safeguard the interest of the company or its shareholders or the public interest, the central government, may appoint such number of person as directors to hold office for a period not exceeding :-
Correct Answer	3 years
True/False
Question	Government can authorise for supply of essential commodities at concessional rates and pay wages in kind.
Correct Answer	TRUE
Multiple Choice Single Answer
Question	What is computed by the competent authority at concessional rates?
Correct Answer	Cost of living allowance and cash value
True/False
Question	Retiring director may be eligible for reappointment.
Correct Answer	TRUE
Multiple Choice Multiple Answer
Question	Board may by resolution passed at the meeting delegate the powers to :-
Correct Answer	Committee of directors , Managing director , Manager
Select The Blank
Question	Under section ________ period in respect of which wages would be paid would be determined.
Correct Answer	3
Multiple Choice Multiple Answer
Question	Preference shares can be :-
Correct Answer	Cumulative redeemable , Non- cumulative redeemable , Participatory
Multiple Choice Multiple Answer
Question	Who is entitled to bonus?
Correct Answer	Temporary workmen , Part time employee , Retrenched employee
Multiple Choice Multiple Answer
Question	Books of account with respect to following are required to be kept :-
Correct Answer	Money received & expended , Sales & purchases of goods , Assets & liabilities
True/False
Question	Wages include any house accommodation, supply of light medical attendance etc.
Correct Answer	FALSE
Select The Blank
Question	The ________ issue shall be by way of public issue.
Correct Answer	NCD
Multiple Choice Multiple Answer
Question	During the course of audit, auditor is supposed to check :-
Correct Answer	Transaction Vouchers , Cash and Bank balances , Fixed assets register
Select The Blank
Question	________means all remuneration expressed in terms of money.
Correct Answer	Wages
True/False
Question	No person can be appointed as an auditor of the company who is in full time employment.
Correct Answer	TRUE
Multiple Choice Single Answer
Question	Number of shareholders entitled to requisition a meeting shall be carrying
Correct Answer	Not less than 10 per cent of voting power
True/False
Question	Payment to a scheme of insurance of a post office is not a deduction.
Correct Answer	FALSE
Select The Blank
Question	The uses and applications of the funds raised shall be disclosed to the audit committee on a ________basis.
Correct Answer	Quarterly
Multiple Choice Single Answer
Question	Where does the company publish the compensation philosophy and the statement entitled compensation in respect of the non executive directors?
Correct Answer	Annual report

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