Corporate Laws & Compliance part three

  • The general principle of company law is that______________ members of the company in the same class.
    • every member holds equal rights
    • members may have differential rights
    • members may or may not have differential rights
    • None of the above
  • Which of the following would not constitute to be the Key managerial personnel‘ as per section 2(51) of Companies Act, 2013.
    • the Chief Executive Officer or the managing director or the manager
    • the company secretary
    • such other officer, not more than one level below the directors who is in whole- time employment, designated as key managerial personnel by the Board
    • the Chief Financial Officer
  • “Small Company” means a company, other than a public company, with a paid-up share capital of which does not exceed amount as may be prescribed which shall not be more than
    • five lakh; one crore
    • fifty lakh; five crore
    • fifty lakh; ten crore
    • None of the above
  • The  shall satisfy itself on the need for omnibus approval for transactions of repetitive nature and that such approval is in the interest of the company
    • Board of Directors
    • Audit Committee
    • Management Committee
    • Any of the above
  • The provisions of Insolvency and Bankruptcy Code, 2016 applies, in relation to
    • Insolvency, liquidation, voluntary liquidation or bankruptcy
    • Insolvency, liquidation or bankruptcy
    • Insolvency or bankruptcy
    • None of the above
  • A company shall have its Registered Office from the date incorporation.
    • 7th day
    • 15th day
    • 30th day
    • one month of its
  • During any financial year Corporate Social Responsibility Committees of the Board shall be constituted by every Company having
    • Turnover of ₹5,000 crores or more
    • A Net Profit of ₹2 crores or more
    • Net Worth of ₹5 crores or more
    • Authorized capital of ₹500 crores or more
  • Board of every Company shall ensure that the company spends in every financial year on account of CSR Policy at least
    • 5% of average Net Profit
    • 3% of average Net Profit
    • 2.5% of average Net Profit
    • 2% of average Net Profit
  • Under Insolvency Bankruptcy code 2016 where extension of time is requested, the Corporate Resolution process shall be completed within a period of     from the date of admission of the application to initiate such process.
    • 60 days
    • 90 days
    • 180 days
    • 240 days
  • According to Banking Regulation Act 1949, no Banking Company shall pay dividend on its shares until all its
    • Depreciation is fully written off
    • “Capitalized expenses” have been completely written off
    • Bad debts are provided in full
    • Contingent liability is settled
  • The Director prepared the annual accounts in Director Responsibility Statement on a/an
    • Money measurement basis
    • Going concern basis
    • Accrual basis
    • Business Entity basis
  • Accounts and Balance Sheet along with auditor’s reports should be filed with Reserve Bank of India within  from the end of the period to which these relate.
    • 3 months
    • 6 months
    • 9 months
    • 12 months
  • A minor can be nominated as a nominee in Life Insurance Policy by its
    • Drawer
    • Agent
    • Holder
    • Corporation
  • Which of the following is not the type of unfair competition?
    • Collusive price fixing
    • Creation of barriers to entry
    • Tie in purchase
    • Predatory pricing
  • Business should  the interests of and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalized.
    • Accept
    • Respect
    • Reject
    • Object

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