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business
essentials business law
Business Law 2nd Edition Tejpal Sheth - Solutions
Explain the meaning of accounting year under the Payment of Bonus Act, 1965. (Ref. para-23.4)
Explain the meaning of employer and employee under the Payment of Bonus Act. (Ref. para-23.4)
Explain the meaning of salary and wages under the Payment of Bonus Act, 1965. (Ref. para-23.4)
Specify the any five kinds of establishments which are not covered under the Payment of Bonus Act.
What do you understand by the term ‘available surplus’? (Ref. para-23.4)
What do you understand by the term ‘allocable surplus’? (Ref. para-23.4)
Discuss the categories of employees who are not entitled to claim bonus, under the Payment of Bonus Act. (Ref. para-23.3)
Approval of the central government is required in case the remuneration payable to the managing director or whole-time director exceeds % of net profit for one such director.(i) 1% (iii) 3%(ii) 5% (iv) 11%
______________ provides guidelines for remuneration of managing personnel.(i) Schedule V (iii) Schedule VI(ii) Schedule II (iv) Schedule III
No person shall be appointed manager of a company if .(i) he is an undischarged insolvent (iii) he has suspended payment to creditors in the last 5 years(ii) he has been convicted of any offence (iv) All of the above involving moral turpitude in the last 5 years
An interested director is not allowed to(i) participate in the discussion (iii) both (a) and (b)(ii) vote (iv) None of above
Consent of is required for certain contracts in which particular directors are interested.(i) board of directors (iii) state government(ii) shareholders (iv) central government
Out of following, which power of the board can be exercised with approval in a general meeting?(i) Sell or lease undertaking of company (iii) Either (a) or (b)(ii) Borrow money in excess of its paid-up (iv) Neither (a) nor (b)capital and free reserve
Out of the following, which power can be exercised by directors only at the board meeting?(i) Power to invest fund of company (iii) Power to make calls on shares(ii) Power to make loan (iv) All of the above
Out of the following, which power can be exercised by directors only at the board meeting?(i) Power to issue debenture (iii) Either (a) or (b)(ii) Power to borrow money otherwise than (iv) Neither (a) nor (b)on debenture
A managing director must be a first.(i) director (iii) all of the above(ii) shareholder (iv) none of the above
Simultaneous appointment of and is prohibited.(i) director and managing director (iii) managing director and manager(ii) managing director and whole-time director (iv) All of the above.
A managing director cannot be appointed at a time for a term exceeding .(i) 10 years (iii) 3 years(ii) 5 years (iv) 1 year
Disclosure of interest by director does not apply to .(i) private company (iii) government company(ii) public company (iv) None of the above
The office of the director shall become vacant immediately when .(i) the director adjudged insolvent(ii) the director is convicted in an offence involving moral turpitude(iii) the director disqualified by an order of court/tribunal(iv) all of the above
Director appointed by which authority can be removed by an ordinary resolution?(i) Director appointed by the board (iii) Either (a) or (b)(ii) Director appointed by the company (iv) Neither (a) nor (b)at a general meeting
Any director may be removed by .(i) board resolution (iii) resolution by circulation(ii) special resolution (iv) ordinary resolution
The managing director shall be necessary to be a .(i) director (iii) shareholder(ii) member of company (iv) all of the above
Appointment of additional director can be made by .(i) any other director (iii) shareholders(ii) board of directors (iv) general meeting
Proposal for appointment of a person who is not a retiring director, can be made by .(i) any person interested in his appointment (iii) Either (a) or (b)(ii) any member (iv) Neither (a) nor (b)
Directors liable to retire by rotation to retire every years.(i) one (iii) three(ii) two (iv) four
Until the directors are duly appointed, all signatories to the of the company are deemed to be directors of company.(i) prospectus (iii) appointment letter(ii) memorandum (iv) consent letter
A private company must have at least directors.(i) 3 (iii) 5(ii) 2 (iv) 7
Private company must have at least directors.(i) 3 (iii) 5(ii) 2 (iv) 7
Explain Schedule V of the Companies Act, 2013.
Explain, in detail, the remuneration to which directors and managers are entitled under the Companies Act, 2013. (Ref. Para-22.39)
Distinguish between managing director and manager. (Ref. Para-22.37)
What are the disqualifications for vacation of office of a manager? (Ref. Para-22.33)
Define manager. (Ref. Para-22.36)
What are the disqualifications for managing director? (Ref. Para-22.33)
Is it necessary to appoint a managing director for every company? (Ref. Para-22.32)
Can a person be appointed as managing director of two companies? (Ref. Para-22.32)
State the provisions relating to managing director. (Ref. Para-22.32)
Define managing director. (Ref. Para-22.32)
State the provisions relating to making loans to directors. (Ref. Para-22.31)
An interested director cannot attend the board meeting. Comment. (Ref. Para-22.31)
Outline the provisions with regard to disclosure of interest by directors.What are the consequences of non-disclosure? (Ref. Para-22.30)
State the provisions relating to approval of contracts in which a director is interested. (Ref. Para-22.29)
Can a managing director be relieved immediately on tendering resignation? (Ref. Para-22.26)
When does the resignation of a director become effective? (Ref. Para-22.26)
State the circumstances in which a director can resign from his office. (Ref. Para-22.26)
Can a company pay compensation to its directors for loss of office?Explain briefly the provisions in this regard. (Ref. Para-22.25)
Explain briefly the provisions of the Companies Act, relating to the removal of a director in case of receipt of an appropriate special notice by the company for this purpose. (Ref. Para-22.24)
Who can remove a director? (Ref. Para-22.24)
When shall a director vacant his office? (Ref. Para-22.23)
State the provisions and restrictions on the number of directorship that a person can hold. (Ref. Para-22.22)
One person can be a director in any number of companies. Comment. (Ref. Para-22.22)
How can the number of directors be decreased? (Ref. Para-22.21)
How can the number of directors be increased? (Ref. Para-22.21)
Explain, in detail, the provisions relating to the appointment of small shareholders’ directors. (Ref. Para-22.20)
State the provisions relating to minimum and maximum number of directors. (Ref. Para-22.19)
Explain in detail the provisions relating to appointment of an alternate director. (Ref. Para-22.15)
A director filling a casual vacancy is not a retiring director. Comment. (Ref. Para-22.14)
How is casual vacancy filled if it arises in the office of directors? (Ref. Para-22.14)
Additional directors appointed hold office for their life-time. Comment. (Ref. Para-22.13)
Can a company appoint additional directors? How? (Ref. Para-22.13)
Write short note on Director Identification Number. (Ref. Para-22.11)
Which directors are not required to file consent with ROC? (Ref. Para-22.10)
Can a person who is not a member of the company become its director?State the procedure in this regard. (Ref. Para-22.9)
Explain the circumstances under which a director retiring at an annual general meeting shall be deemed to have been reappointed even though no such appointment has been made.
How are the first directors of a company appointed? (Ref. Para-22.6)
Explain, in brief, about the various methods of appointment of directors of a company. (Ref. Para-22.5)
State the legal position of directors. (Ref. Para-22.3)
What are the disqualifications of directors? (Ref. Para-22.2)
Expl a in the term ‘director’. (Ref. Para-22.1)
The expenses of holding an E.G.M by the requisitionists will be ultimately borne by .(i) company (iii) all directors in default(ii) requisitionists (iv) None of the above
Which of the following meeting can be held more than once in a calendar year?(i) E.G.M (iii) A.G.M(ii) Creditors’ meeting for winding up (iv) None of the above
A poll can be demanded by any member present in person or by proxy if he has voting powers at least equal to:(i) 1/5th (iii) 1/20th(ii) 1/10th (iv) 1/30th
A special resolution is passed with(i) simple majority (iii) 75% majority of members present(ii) 60% majority of members present (iv) None of the above
Loose-leaf minutes are to be bound into books at regular intervals of months.(i) 6 (iii) 8(ii) 7 (iv) 9
Minutes, in the case of a general meeting, should be recorded within days from the date of conclusion of every meeting.(i) 10 (iii) 30(ii) 20 (iv) 40
is the official recording of the proceedings of a meeting(i) Quorum (iii) Both (i) and (ii)(ii) Minutes (iv) None of the above
Proxies cannot vote on .(i) show of hands (iii) Both (i) & (ii)(ii) poll (iv) None of the above
If the notice contains a special business, then an statement shall be enclosed.(i) explanatory (iii) Both (i) and (ii)(ii) enquiry (iv) None of the above
Depositing of proxy with the company should be made within how many hours?(i) 24 (iii) 36(ii) 48 (iv) 72
The chairman conducts the poll within hours from the demand.(i) 24 (iii) 72(ii) 48 (iv) 36
The chairman, on his own motion, also orders a poll.(i) must (iii) may(ii) should (iv) None of the above
Who can use the casting vote in the case of equality of votes?(i) Chairman (iii) Auditor(ii) Director (iv) Manager
Voting right cannot be exercised in case of(i) calls in advance (iii) Both (i) and (ii)(ii) calls in arrears (iv) None of the above
Order is empowered to call an EGM even though one member is present in person or by proxy.(i) Tribunal (iii) ROC(ii) Government (iv) None of these
If quorum is not present within time, the meeting will stand dissolved.(i) ½ Hr. (iii) 1½ Hr.(ii) 1 Hr. (iv) 2 Hr.
In the absence of quorum, the proceedings of the meeting will be .(i) valid (iii) voidable(ii) void (iv) None of the above
Every business transacted at an EGM is a/an business.(i) Ordinary (iii) Both (i) & (ii)(ii) Special (iv) None of the above
The resolutions passed at AGM are(i) Valid (iii) Voidable(ii) Void (iv) Void ab initio
company is/are required to hold A.G.M.(i) Public company (iii) Government company(ii) Private company (iv) All the three
Before AGM report is sent by the directors to its members.(i) Statutory (iii) Annual(ii) Audit (iv) None of the above
Quorum for a general meeting should be present at the(i) commencement of meeting. (iii) end of the meeting.(ii) middle of the meeting. (iv) Any time during meeting.
In case of private company the quorum should be(i) two members (iii) four members(ii) three members (iv) None of these
The proxy must be a member of the company. Do you agree with this statement?(i) Agree(ii) Disagree
Notice of the general meeting should be sent to preference shareholders also.(i) Yes(ii) No
Board of directors has the authority to issue notice of the general meeting.(i) Yes(ii) No
AGM should be held(i) at the head office. (iii) at the corporate office.(ii) within the same town or city where (iv) None of these.the registered office is situated.
Any company cannot hold AGM on a public holiday.(i) Yes(ii) No
Every AGM must be held within from the end of the F.Y.(i) 4 months (iii) 9 months(ii) 6 months (iv) None of these
The first AGM must be held within from the incorporation of the company.(i) 15 months (iii) 12 months(ii) 18 months (iv) None of these
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