Legal Aspects Of Finance_10

Legal aspects of finance(10) –saroj -1 Multiple Choice Single Answer Question When was the minimum wages act passed ? Correct Answer 1948 Your Answer 1948 Select The Blank Question For Special Resolution, votes cast in favour of the resolution should be ________ times more than votes cast against the resolution. Correct Answer 3 Your Answer 3 Multiple Choice Multiple Answer Question For registering certain resolutions, following documents are submitted :Correct Answer Form 23 , Certified copy of resolution , Copy of explanatory statement Your Answer Form 23 , Certified copy of resolution , Draft resolution Multiple Choice Multiple Answer Question Who are governed by the payment of wages act? Correct Answer Employed persons , Salary less than 1600 per month Your Answer Employed persons , Salary less than 1600 per month , Salary less than 1200 per month Multiple Choice Multiple Answer Question Under which circumstances will the worker not receive wages for full normal working days ? Correct Answer If failure to work is caused by unwillingness to work , Not by omission of the employer to provide him with work Your Answer If failure to work is caused by unwillingness to work , Not by omission of the employer to provide him with work , He works for more than full working hours Multiple Choice Multiple Answer Question What do you mean by wages? Correct Answer Remuneration by way of salaries , Allowances , Expressed in terms of money Your Answer Remuneration by way of salaries , Allowances , Expressed in terms of money Multiple Choice Multiple Answer Question Who is an independent director? Correct Answer Non executive director , Who receives director remuneration , Who is not related to the promoters Your Answer Non executive director , Who receives director remuneration , Who is not related to the promoters Select The Blank Question Board has power to receive of notice of ________. Correct Answer Disclosure of interest Your Answer Disclosure of interest Multiple Choice Single Answer Question Company has to make application to central government, in case of appointment of managing director is not made accordance with part I & II of schedule XIII, within :Correct Answe r 90 days Your Answer 45 days Select The Blank Question The ________ issue shall be by way of public issue. Correct Answer NCD Your Answer RTO Select The Blank Question Under section ________ period in respect of which wages would be paid would be determined. Correct Answer 3 Your Answer 3

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True/False Question A piece rated worker is entitled to bonus. Correct Answer True Your Answer False Multiple Choice Single Answer Question What is the minimum salary under which the persons are covered in this act? Correct Answer Less than Rs 1600 Select The Blank Question ________ includes legal representative of deceased employer. Correct Answer Employer Your Answer Doctor Match The Following Question dismissed employee for bonus part time employee entitled to bonus retrenched employee entitled for bonus' company vs. probationer for bonus'

Correct Answer Gannon India vs. niranjan das automobile karmachari sang vs. industrial tribunal 1970 east Asiatic company vs. industrial tribunal 1961 bank of madura vs. employees union 1970

True/False Question Only individuals can be appointed as directors of the company. Correct Answer True Your Answer False Multiple Choice Single Answer Question FEMA Norms are compatible with :Correct Answer FERA Your Answer FERA Multiple Choice Multiple Answer Question WOS are allowed to :Correct Answer Pay royalty , Offshore payment , By automatic route Your Answer Pay royalty , Offshore payment , By automatic route Multiple Choice Multiple Answer Question The register in respect of every investment or loan made, contains Correct 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. Correct Answer True True/False Question Financial year and calendar year are one and the same thing. Correct Answer False Multiple Choice Single Answer Question How would you define salary or wage? Correct Answer All remuneration other than in respect of overtime work of the work done in such employment Your Answer All remuneration including overtime Multiple Choice Single Answer Question In case of cost audit, the report of cost auditor has to be submitted to central government, within :Correct Answer 120 Days Your Answer 90 Days

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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 Your Answer Shares of the company bought & sold by the members , Money received & expended , Sales & purchases of goods Multiple Choice Multiple Answer Question Appointment of receiver under sec.137 containt Correct Answer Name , address and date of appointment of receiver , date on which the receiver ceased to act Your Answer Name , address and date of appointment of receiver , date on which the receiver ceased to act , Receivers Professional qualification Multiple Choice Single Answer Question In the case of prevention of operation and mismanagement application is to be made to company law board by Correct Answer Member Your Answer Member Multiple Choice Multiple Answer Question Retiring director shall be deemed to be reappointed unless :Correct 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. Correct 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. Correct Answer True True/False Question Senior managers are members of management, one level below the executive director. Correct Answer True Multiple Choice Multiple Answer Question The penalties are levied for which offences done? Correct Answer Pay less than minimum wages , Pay less than fixed wages , Contravenes any rule or order Your Answer Pay more than fixed wages , Pay less than minimum wages , Pay less than fixed wages True/False Question Board may appoint additional directors. Correct Answer True Multiple Choice Single Answer Question Which report is received by the shareholders annually ? Correct Answer Directors report Your Answer Directors report Select The Blank Question The recommendations of audit committee relating to financial management shall be ________. Correct Answer Binding Your Answer Recommendary Select The Blank Question Purchase of foreign securities by resident employee of Indian Software Company, should not exceed ________. Correct Answer US $ 50000 Your Answer US $ 50000

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True/False Question Former director can take inspection of books of account for the years when he was director. Correct Answer False Multiple Choice Single Answer Question A director of a company can be removed by :Correct Answer Ordinary resolution Your Answer Special resolution Multiple Choice Single Answer Question Compliance Report is signed by :Correct Answer Company Secretary in practice Your Answer Board of Directors Select The Blank Question Director has to vacate his office, if he has been ________ by a court of any offence involving moral turpitude. Correct Answer Convicted True/False Question Any gratuity payable on termination of employment is included in wages. Correct Answer False Your Answer True Multiple Choice Single Answer Question A director has to vacate his office, if he is adjudged as :Correct Answer Insolvent Your Answer Solvent Match The Following Question Notice Sole selling agent Audit committee Quorum

Correct Answer Circulation for day, time of meeting Have exclusive right to sale for company in specified area Appointed for specific purpose related to audit Minimum required persons for meeting

True/False Question Employee includes an out worker to whom any article or material are given out by another person for repair or cleaning. Correct Answer True Your Answer False Select The Blank Question The Postal ballot paper should be returned to the company within ________ from the dispatch of ballot paper. Correct Answer 30 days Your Answer 15 days Multiple Choice Multiple Answer Question Debentures can be :Correct Answer Redeemable , Convertible , Party convertible and redeemable Multiple Choice Single Answer Question Single director can sign the annual accounts if :Correct Answer Only one director in India for the time being Your Answer He is authorised by the Board in this regard Select The Blank Question Copies of annual accounts are to be filed within ________ days from AGM with ROC. Correct Answer 30 days Your Answer 21 days

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