Description : A vacancy caused by the resignation of the auditor is filled only by the– (A) Board of Directors of the Company (B) Central Government (C) General Meeting of the shareholders (D) Managing Director of the company
Last Answer : Answer: General Meeting of the shareholders
Description : The first Secretary of the company is appointed by– (A) Shareholders (B) Promoters (C) Government (D) Directors
Last Answer : Answer: Promoters
Description : The first directors of a company are appointed by– (A) Promoters (B) Government (C) Shareholders (D) Company Law Board
Description : The Secretary of a Company should file copies of Special Resolution passed at Extraordinary General Meeting to the Registrar of Companies within– (A) 7 days (B) 14 days (C) 21 days (D) 30 days
Last Answer : Answer: 30 days
Description : The Meeting of Board of Directors must be called at least once– (A) In four months (B) In three months (C) In two months (D) In one month
Last Answer : Answer: In three months
Description : Bonus Shares are issued to– (A) Equity Shareholders (B) Preference Shareholders (C) Debenture Holders (D) Secured Creditors
Last Answer : Answer: Equity Shareholders
Description : The first auditor of a company appointed, holds office– (A) For a period of one year (B) For that period till new auditor is appointed (C) Till the conclusion of first Annual General Meeting (D) Till the holding of statutory meeting of the company
Last Answer : Answer: Till the conclusion of first Annual General Meeting
Description : Internal Auditor is appointed by the– (A) Management (B) Shareholders (C) Government (D) Statutory Auditor
Last Answer : Answer: Management
Description : Debenture holders of a company are its - (1) Shareholders (2) Creditors (3) Debtors (4) Directors
Last Answer : (2) Creditors Explanation: Companies issue debentures instead of shares to extend their business. These debentures are issue to borrow loan from general public; interest is paid on the borrowed money ... holders. So a debenture holder is essentially a creditor who simply gives loan to the company.
Description : Debenture holders of a company are its (1) Shareholders (2) Creditors (3) Debtors (4) Directors
Last Answer : Creditors
Description : Which of these must hold a Statutory Meeting ? (A) Public Limited Company (B) Private Company (C) Unlimited Company (D) All of these
Last Answer : Answer: Public Limited Company
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
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
Description : For calling the Extraordinary General Meeting a clear notice of ……… days must be given to all the members. (A) 7 (B) 15 (C) 21 (D) 30
Last Answer : Answer: 21
Description : i. An extraordinary general meeting is held _______ (a) once in a year (b) once in the life time (c) under special circumstances
Last Answer : Select the correct answer from the options given below and rewrite the statement: i. An extraordinary general ... a) Fifteen (b) Sixty (c) Forty
Description : i. A meeting of shareholders which is held once a year. ii. A meeting of shareholders is held between two annual general meetings.
Last Answer : Write a word or a term or a phrase that can substitute each of the following statement: i ... A meeting of the preference shareholders of a company.
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
Description : The liability of the shareholders of a public limited company is limited to the extent of– (A) Par value of the share (B) Paid up value of the shares (C) Market price of the shares (D) Intrinsic value of the shares
Last Answer : Answer: Paid up value of the shares
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
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
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
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
Description : In a public limited company, the minimum number of directors are– (A) 2 (B) 3 (C) 5 (D) None of the above
Last Answer : Answer: 3
Description : What is the minimum number of directors in a Public Company?
Last Answer : Atleast two directors
Description : Organization of Islamic Cooperation (OIC) extraordinary meeting was held in: (a) Jeddah, Saudi Arabia (b) Islamabad, Pakistan (c) Istanbul, Turkey (d) None of These
Last Answer : (c) Istanbul, Turkey
Description : Sundry Debtors – Rs.15,000 Bills Receivable (B/R) – Rs.12,500 Cash at Bank – Rs.17,500 Stock – Rs.15,000 Profit – Rs.20,000 Creditors – Rs.25,000 Bills Payable (B/P) – Rs.15,000 Sales – Rs.1,00,000 What is the Acid Test Ratio ? (A) 1•5 : 1 (B) 1•125 : 1 (C) 16 2/3% (D) 50%
Last Answer : Answer: 1•125 : 1
Description : Which one of the following statements is correct ? When creditors' velocity or creditors' turnover is higher as compared to debtors' velocity, it would (A) improve liquidity (B) reduce liquidity (C) have no effect on liquidity (D) improve financial position
Last Answer : Answer: have no effect on liquidity
Description : When the existing companies raise additional funds by issue of shares to the existing shareholders in proportion to their existing shareholdings, it is called– (A) Buyback of shares (B) Issue of shares at premium (C) Issue of shares at discount (D) Right shares issue
Last Answer : Answer: Right shares issue
Description : Ploughing-back of profits means– (A) Dividend declared but not claimed by shareholders (B) Non-declaration of dividend in any year (C) Profits earned from illegal sources and employed in business (D) Retaining the earnings of business for future expansion programme
Last Answer : Answer: Retaining the earnings of business for future expansion programme
Description : The object of ‘Agenda’ is to inform– (A) About the profitability and activity (B) About the progress of company (C) About the matter in sequence to be discussed in the meeting (D) About the routine matters
Last Answer : Answer: About the matter in sequence to be discussed in the meeting
Description : A special resolution is passed in a company meeting by– (A) Simple majority (B) 2/3 majority (C) 3/4 majority (D) None of the above
Last Answer : Answer: 3/4 majority
Description : The primary stakeholders are: A. Customers. B. Suppliers. C. Shareholders. D. Creditors.
Last Answer : Shareholders.
Description : As per AS-14 purchase consideration is payable to _________________. (A) Shareholders (B) Creditors (C) Debenture holders (D) Bank
Last Answer : Shareholders
Description : As per AS – 14 purchase consideration is what is payable to A. Shareholders B. Creditors C. Debentureholders D. Shareholders and Debentureholders
Last Answer : A. Shareholders
Last Answer : C. Shareholders.
Description : The Quorum for the Annual General Meeting of a public company depends upon the number of shareholders.
Last Answer : Justify the following statement: The Quorum for the Annual General Meeting of a public company depends upon the number of shareholders.
Description : Minutes of the annual general meeting must be prepared and signed by the chairman within– (A) 14 days of the meeting (B) 21 days of the meeting (C) 30 days of the meeting (D) 45 days of the meeting
Last Answer : Answer: 30 days of the meeting
Description : Articles of Association can be altered by passing– (A) An ordinary resolution in Annual General Meeting (B) A special resolution in Annual General Meeting (C) A resolution with special notice (D) Without any resolution
Last Answer : Answer: A special resolution in Annual General Meeting
Description : Justify the following statement: When a company is in financial difficulty it may call a meeting of creditors.
Last Answer : Justify the following statement: When a company is in financial difficulty it may call a meeting of creditors.
Description : An expectation of the public is that the auditor will recognize that the primary users of audit services are: a. The employees b. The investors and creditors c. The SEC d. The board of directors
Last Answer : The investors and creditors
Description : Justify the following statement: The Board of Directors is the elected representative of the shareholders.
Last Answer : Justify the following statement: The Board of Directors is the elected representative of the shareholders.
Description : Job Evaluation is carried on mainly for– (A) identifying geographical locational factors of business enterprise (B) promoting job satisfaction (C) simplifying wage administration (D) meeting competition effectively
Last Answer : Answer: simplifying wage administration
Description : Statement containing details of items to be considered in a meeting is called– (A) Agenda (B) Minutes (C) Resolution (D) Notice
Last Answer : Answer: Agenda
Description : Share premium account can be used for– (A) Paying tax liability (B) Meeting the cost of issue of shares or debentures (C) Paying Dividend on shares (D) Meeting the loss on sale of old asset
Last Answer : Answer: Meeting the cost of issue of shares or debentures
Description : What is the purpose of conducting an Extraordinary General Meeting?
Last Answer : What is the purpose of conducting an Extraordinary General Meeting?
Description : The scheme allows the transfer of scrip once the export obligation is complete. 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
Description : Which audit is conducted only once in a while and that also when the client desires?
Last Answer : Occasional audit
Description : The portion of share capital which can be called up only on the winding up of a company is known as– (A) Called up capital (B) Paid up capital (C) Authorised capital (D) Reserve capital
Last Answer : Answer: Reserve capital
Description : Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through ... change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks
Last Answer : Answer: The RBI manages longterm liquidity through rapos