Legal Aspects of Finance SCDL Solved Paper - 54

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

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

 


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