Who are entitled to take part in the control and management of business in a company?

Who are entitled to take part in the control and management of business in a company?
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1 Answer

Answer :

The board of directors elected by the shareholders
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A company limited by shares has to call the statutory meeting within a period of not less than one month and not more than six months. This period is counted with reference to which one of the following ? (A) The date of incorporation (B) The date at which the company is entitled to commence business (C) The date of actual receipt of certificate of incorporation (D) The date of actual commencement of business

Description : A company limited by shares has to call the statutory meeting within a period of not less than one month and not more than six months. This period is counted with reference to which one of ... date of actual receipt of certificate of incorporation (D) The date of actual commencement of business

Last Answer : Answer: The date at which the company is entitled to commence business

An annual general meeting may be called after giving shorter notice instead of 21 clear days, if consent is accorded by– (A) All the directors of company (B) All the members entitled to vote there at (C) Majority of members entitled to vote there all (D) None of the above

Description : An annual general meeting may be called after giving shorter notice instead of 21 clear days, if consent is accorded by– (A) All the directors of company (B) All the members entitled to vote there at (C) Majority of members entitled to vote there all (D) None of the above

Last Answer : Answer: All the members entitled to vote there at

Internal activity of a company is going to be performed according to established regulations. This assumption is provided as a right by– (A) Doctrine of Indoor Management (B) Doctrine of Constructive Notice (C) Doctrine of Ultravires (D) Doctrine of Intravires

Description : Internal activity of a company is going to be performed according to established regulations. This assumption is provided as a right by– (A) Doctrine of Indoor Management (B) Doctrine of Constructive Notice (C) Doctrine of Ultravires (D) Doctrine of Intravires

Last Answer : Answer: Doctrine of Indoor Management

Share Premium received by a Company may be used for– (A) Payment of dividend (B) Payment of remuneration to management (C) Issue of Bonus shares (D) None of these

Description : Share Premium received by a Company may be used for– (A) Payment of dividend (B) Payment of remuneration to management (C) Issue of Bonus shares (D) None of these

Last Answer : Answer: Issue of Bonus shares

Which one of the following statements is correct ? (A) Internal audit and Management audit are the same (B) Internal audit and statutory audit are the same (C) Internal audit is compulsory in all cases (D) Statutory audit of company accounts is compulsory

Description : Which one of the following statements is correct ? (A) Internal audit and Management audit are the same (B) Internal audit and statutory audit are the same (C) Internal audit is compulsory in all cases (D) Statutory audit of company accounts is compulsory

Last Answer : Answer: Statutory audit of company accounts is compulsory

Which is a document containing a rules and regulations for the internal management of the company?

Description : Which is a document containing a rules and regulations for the internal management of the company?

Last Answer : The article of association

In which one of the following, Crisis Management is reflected ? (A) Future expansion plans of business (B) Organization Development Programme (C) Short-term Manpower Planning (D) Prudent managerial leadership

Description : In which one of the following, Crisis Management is reflected ? (A) Future expansion plans of business (B) Organization Development Programme (C) Short-term Manpower Planning (D) Prudent managerial leadership

Last Answer : Answer: Prudent managerial leadership

Which one of the following is the most appropriate task of office management ? (A) Creation of profit centre (B) Creation of control centre (C) Making office supplies available (D) Supervision of production Quality Control

Description : Which one of the following is the most appropriate task of office management ? (A) Creation of profit centre (B) Creation of control centre (C) Making office supplies available (D) Supervision of production Quality Control

Last Answer : Answer: Creation of control centre

Which one of the following is the most appropriate management control technique for timely completion of a project ? (A) Organisation chart (B) Management by Objectives (C) PERT (D) Span of control

Description : Which one of the following is the most appropriate management control technique for timely completion of a project ? (A) Organisation chart (B) Management by Objectives (C) PERT (D) Span of control

Last Answer : Answer: PERT

Which management functions are closely related to ? (A) Planning and Organising (B) Organising and Staffing (C) Staffing and Control (D) Planning and Control

Description : Which management functions are closely related to ? (A) Planning and Organising (B) Organising and Staffing (C) Staffing and Control (D) Planning and Control

Last Answer : Answer: Planning and Control

Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, 10% debentures of Rs. 100 each at par and 15,000 equity shares of Rs. 10 each. How much was the flow of funds in the above transaction ? (A) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Description : Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, ... ) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Last Answer : Answer: Rs. 30,000

A public company can start its business operations after getting– (A) Certificate of Incorporation (B) Minimum Subscription (C) Certificate of Commencement of Business (D) Permission of the Controller of Capital Issue

Description : A public company can start its business operations after getting– (A) Certificate of Incorporation (B) Minimum Subscription (C) Certificate of Commencement of Business (D) Permission of the Controller of Capital Issue

Last Answer : Answer: Certificate of Commencement of Business

In order to reduce the risk of heavy insurance the insurer passes on some business to the other company, it is called– (A) Reinsurance (B) Double Insurance (C) Joint Insurance Policy (D) Separate Insurance

Description : In order to reduce the risk of heavy insurance the insurer passes on some business to the other company, it is called– (A) Reinsurance (B) Double Insurance (C) Joint Insurance Policy (D) Separate Insurance

Last Answer : Answer: Reinsurance

A public company can start business– (A) After incorporation (B) After promotion (C) After registration (D) After getting certificate of commencement of business

Description : A public company can start business– (A) After incorporation (B) After promotion (C) After registration (D) After getting certificate of commencement of business

Last Answer : Answer: After getting certificate of commencement of business

The ‘Principle of Exception’ states that management should– (A) Check everything without exception (B) Invariably take corrective action without exception (C) Accept exceptions in emergencies (D) Concentrate their attention on exceptions

Description : The ‘Principle of Exception’ states that management should– (A) Check everything without exception (B) Invariably take corrective action without exception (C) Accept exceptions in emergencies (D) Concentrate their attention on exceptions

Last Answer : Answer: Concentrate their attention on exceptions

Which one of the following statements is not correct ? (A) Business firms combine to avoid wasteful competition (B) Business combination is possible only among joint stock companies (C) Business firms may combine to take advantage of patent rights of individual firms (D) During economic depression, small firms are absorbed by financially sound large firms

Description : Which one of the following statements is not correct ? (A) Business firms combine to avoid wasteful competition (B) Business combination is possible only among joint stock companies (C) Business ... firms (D) During economic depression, small firms are absorbed by financially sound large firms

Last Answer : Answer: Business combination is possible only among joint stock companies

The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management

Description : The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management

Last Answer : Answer: Liquidity management

Which one of the following functions is served most by information technology ? (A) Replacement of human labour (B) Provision for a handle to the management to improve industrial relations (C) Substitution of human information processing (D) Rationalisation of office work

Description : Which one of the following functions is served most by information technology ? (A) Replacement of human labour (B) Provision for a handle to the management to improve industrial relations (C) Substitution of human information processing (D) Rationalisation of office work

Last Answer : Answer: Rationalisation of office work

Hawthorne studies have underlined the significance of which of the following ? (A) System approach to management (B) Contingency approach to management (C) Modern approach to management (D) Human relations approach to management.

Description : Hawthorne studies have underlined the significance of which of the following ? (A) System approach to management (B) Contingency approach to management (C) Modern approach to management (D) Human relations approach to management.

Last Answer : Answer: Human relations approach to management.

The matrix management model is based on a matrix of values between 0 and 9 for two primary variables. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Description : The matrix management model is based on a matrix of values between 0 and 9 for two primary variables. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Last Answer : Answer: Both 1 and 2

Who is Father of Scientific Management ? (A) Henry Fayol (B) Elton Mayo (C) Chester Bernard (D) F. W. Taylor

Description : Who is Father of Scientific Management ? (A) Henry Fayol (B) Elton Mayo (C) Chester Bernard (D) F. W. Taylor

Last Answer : Answer: F. W. Taylor

The primary function of an office is– (A) Making, using and preserving records (B) Remunerating personnel (C) Carrying out management policies (D) Safeguarding organization’s assets

Description : The primary function of an office is– (A) Making, using and preserving records (B) Remunerating personnel (C) Carrying out management policies (D) Safeguarding organization’s assets

Last Answer : Answer: Making, using and preserving records

Who is called ‘The Father of Scientific Management’ ? (A) Elton Mayo (B) Henry Fayol (C) E. F. L. Breach (D) F. W. Taylor

Description : Who is called ‘The Father of Scientific Management’ ? (A) Elton Mayo (B) Henry Fayol (C) E. F. L. Breach (D) F. W. Taylor

Last Answer : Answer: F. W. Taylor

Management by exception implies focussing attention on– (A) All variations (B) Normal variations (C) Abnormal variations (D) Randomly selected variations

Description : Management by exception implies focussing attention on– (A) All variations (B) Normal variations (C) Abnormal variations (D) Randomly selected variations

Last Answer : Answer: Abnormal variations

MBO approach in management was introduced by– (A) M. P. Follet (B) Keith Davis (C) Peter Drucker (D) Oliver Sheldon

Description : MBO approach in management was introduced by– (A) M. P. Follet (B) Keith Davis (C) Peter Drucker (D) Oliver Sheldon

Last Answer : Answer: Peter Drucker

Planning function of management is performed by– (A) Top management (B) Middle management (C) Lower management (D) All of the above

Description : Planning function of management is performed by– (A) Top management (B) Middle management (C) Lower management (D) All of the above

Last Answer : Answer: All of the above

The Branch of Accounting which is concerned with the processing and presenting data for decision making is known as– (A) Common Dollar Accounting (B) Social Accounting (C) Cost Accounting (D) Management Accounting

Description : The Branch of Accounting which is concerned with the processing and presenting data for decision making is known as– (A) Common Dollar Accounting (B) Social Accounting (C) Cost Accounting (D) Management Accounting

Last Answer : Answer: Management Accounting

Internal Auditor is appointed by the– (A) Management (B) Shareholders (C) Government (D) Statutory Auditor

Description : Internal Auditor is appointed by the– (A) Management (B) Shareholders (C) Government (D) Statutory Auditor

Last Answer : Answer: Management

What does management audit imply ? (A) Complete audit (B) Detailed audit (C) Efficiency audit (D) Interim audit

Description : What does management audit imply ? (A) Complete audit (B) Detailed audit (C) Efficiency audit (D) Interim audit

Last Answer : Answer: Efficiency audit

Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Description : Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Last Answer : Answer: Deferred shares

Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period ? (A) High Court, within 30 days (B) Supreme Court within 60 days (C) SEBI within 90 days (D) Department of Companies Affairs within 60 days

Description : Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period ? (A) High Court, within 30 days (B) ... Court within 60 days (C) SEBI within 90 days (D) Department of Companies Affairs within 60 days

Last Answer : Answer: Supreme Court within 60 days

A company forfeited 30 equity shares of Rs. 10 each fully called-up, for non-payment of allotment money of Rs. 3 and call-money of Rs. 4 per share. If these shares are reissued at Rs. 8 per share fully paid, the amount transferable to capital reserve will be– (A) Rs. 300 (B) Rs. 60 (C) Rs. 90 (D) Rs. 30

Description : A company forfeited 30 equity shares of Rs. 10 each fully called-up, for non-payment of allotment money of Rs. 3 and call-money of Rs. 4 per share. If these shares are reissued at Rs. 8 per share fully paid, the amount ... to capital reserve will be- (A) Rs. 300 (B) Rs. 60 (C) Rs. 90 (D) Rs. 30

Last Answer : Answer: Rs. 30

A company can forfeit shares if the– (A) shareholder fails to pay the amount of the call during the stipulated time (B) shareholder pays calls in advance (C) shareholder does not pay the application money (D) shares have been issued at par

Description : A company can forfeit shares if the– (A) shareholder fails to pay the amount of the call during the stipulated time (B) shareholder pays calls in advance (C) shareholder does not pay the application money (D) shares have been issued at par

Last Answer : Answer: shareholder fails to pay the amount of the call during the stipulated time

A limited company makes a net profit of Rs. 2,00,000 after writing off preliminary expenses amounting to Rs. 20,000 and providing for depreciation on assets amounting to Rs. 40,000 and gain of Rs. 10,000 on sale of a piece of machinery. What are the funds from operation ? (A) Rs. 2,00,000 (B) Rs. 2,40,000 (C) Rs. 2,50,000 (D) Rs. 2,60,000

Description : A limited company makes a net profit of Rs. 2,00,000 after writing off preliminary expenses amounting to Rs. 20,000 and providing for depreciation on assets amounting to Rs. 40,000 and gain of Rs. 10,000 on sale of a piece of ... 2,00,000 (B) Rs. 2,40,000 (C) Rs. 2,50,000 (D) Rs. 2,60,000

Last Answer : Answer: Rs. 2,50,000

What is the quorum of general meetings in the case of private limited company and public limited company ? (A) 2 members and 5 members respectively (B) 3 members and 5 members respectively (C) 5 members in each type of company (D) 5 members and 7 members respectively

Description : What is the quorum of general meetings in the case of private limited company and public limited company ? (A) 2 members and 5 members respectively (B) 3 members and 5 members respectively (C) 5 members in each type of company (D) 5 members and 7 members respectively

Last Answer : Answer: 2 members and 5 members respectively

Convening meetings of a company is the responsibility of the– (A) Chairman, Board of Directors (B) Managing Director (C) Company Secretary (D) General Manager

Description : Convening meetings of a company is the responsibility of the– (A) Chairman, Board of Directors (B) Managing Director (C) Company Secretary (D) General Manager

Last Answer : Answer: Company Secretary

Appointment of a Company Secretary is made by– (A) Promoters (B) Board of Directors (C) Debenture holders (D) Government

Description : Appointment of a Company Secretary is made by– (A) Promoters (B) Board of Directors (C) Debenture holders (D) Government

Last Answer : Answer: Board of Directors

Who can be appointed as a Company Secretary under the Companies Act, 1956 ? (A) An individual (B) A partnership firm (C) A company (D) None of the above

Description : Who can be appointed as a Company Secretary under the Companies Act, 1956 ? (A) An individual (B) A partnership firm (C) A company (D) None of the above

Last Answer : Answer: An individual

Under Section 275 of the Companies’ Act, 1956 a person can become director in public company of not more than– (A) 5 companies (B) 10 companies (C) 15 companies (D) 20 companies

Description : Under Section 275 of the Companies’ Act, 1956 a person can become director in public company of not more than– (A) 5 companies (B) 10 companies (C) 15 companies (D) 20 companies

Last Answer : Answer: 15 companies

Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Description : Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Last Answer : Answer: Both contractual and statutory

Disinvestment of shares means– (A) To sale the shares of private company to public (B) To sale the shares of public company to the public (C) To sale the shares of Government company to the public (D) To sale of shares by holding company to its subsidiary company

Description : Disinvestment of shares means– (A) To sale the shares of private company to public (B) To sale the shares of public company to the public (C) To sale the shares of Government company to the public (D) To sale of shares by holding company to its subsidiary company

Last Answer : Answer: To sale the shares of public company to the public

Reserve Bank of India is a– (A) Government Company (B) Departmental Organisation (C) Statutory Corporation (D) None of the above

Description : Reserve Bank of India is a– (A) Government Company (B) Departmental Organisation (C) Statutory Corporation (D) None of the above

Last Answer : Answer: Government Company

Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis of accounting only (B) Financial statements should be prepared according to the accrual basis of accounting only (C) Financial statements should be prepared according to either the cash basis or accrual basis of accounting (D) Financial statements should be prepared according to both the accrual and cash basis of accounting

Description : Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis ... Financial statements should be prepared according to both the accrual and cash basis of accounting

Last Answer : Answer: Financial statements should be prepared according to the accrual basis of accounting only

Appointment of full time Company Secretary is compulsory in all those companies, whose paidup share capital is– (A) Rs. 50 lakhs or more (B) Rs. 1 crore or more (C) Rs. 2 crores or more (D) Rs. 3 crores of more

Description : Appointment of full time Company Secretary is compulsory in all those companies, whose paidup share capital is– (A) Rs. 50 lakhs or more (B) Rs. 1 crore or more (C) Rs. 2 crores or more (D) Rs. 3 crores of more

Last Answer : Answer: Rs. 2 crores or more

The first Secretary of the company is appointed by– (A) Shareholders (B) Promoters (C) Government (D) Directors

Description : The first Secretary of the company is appointed by– (A) Shareholders (B) Promoters (C) Government (D) Directors

Last Answer : Answer: Promoters

“The position of a Company Secretary is like that of a hub in a bicycle wheel.” This statement shows the– (A) Importance of Company Secretary (B) Rights of Company Secretary (C) Duties of Company Secretary (D) Liabilities of Company Secretary

Description : “The position of a Company Secretary is like that of a hub in a bicycle wheel.” This statement shows the– (A) Importance of Company Secretary (B) Rights of Company Secretary (C) Duties of Company Secretary (D) Liabilities of Company Secretary

Last Answer : Answer: Importance of Company Secretary

Appointment of a person who is a Director, as a Secretary in the Company would require approval of the company by– (A) Special Resolution (B) Ordinary Resolution (C) Resolution by circulation (D) None of the above

Description : Appointment of a person who is a Director, as a Secretary in the Company would require approval of the company by– (A) Special Resolution (B) Ordinary Resolution (C) Resolution by circulation (D) None of the above

Last Answer : Answer: Special Resolution

A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting

Description : A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting

Last Answer : Answer: Statutory Meeting

The minimum and maximum number of members in a Private Company is– (A) 2 and 50 (B) 2 and 20 (C) 2 and 10 (D) None of the above

Description : The minimum and maximum number of members in a Private Company is– (A) 2 and 50 (B) 2 and 20 (C) 2 and 10 (D) None of the above

Last Answer : Answer: 2 and 50

The gap between two General Meetings of the Company should not be more than– (A) 12 months (B) 18 months (C) 15 months (D) 20 months

Description : The gap between two General Meetings of the Company should not be more than– (A) 12 months (B) 18 months (C) 15 months (D) 20 months

Last Answer : Answer: 15 months