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Isc Commerce at a Glance

Isc Commerce at a Glance

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Published by Darshan Shah

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Published by: Darshan Shah on Nov 09, 2010
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06/23/2013

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UNIT
I
 
CORPORATE
 
ORGANISATION
 
[
JOINT
 
STOCK
 
COMPANY,TYPES
 
OF
 
COMPANIES,FORMATION
 
OF
 
COMPANIES
 
AND
 
MULTINATIONAL
 
CORPORATIONS]
 
QUESTIONS
 
BANK
 
OBJECTIVE
 
QUESTIONS
 
1.
 
Define
 
Company.
 
2.
 
What
 
do
 
you
 
mean
 
by
 
separate
 
legal
 
entity?
 
/
 
Corporate
 
Existence.
 
3.
 
Explain
 
perpetual
 
succession/why
 
does
 
a
 
co.
 
enjoy
 
perpetual
 
existence?
 
4.
 
State
 
essential
 
features
 
of 
 
private
 
company.
 
5.
 
What
 
is
 
one
 
man
 
co.?
 
6.
 
What
 
is
 
meant
 
by
 
limited
 
liability
 
in
 
J.S.Co.?
 
7.
 
Who
 
are
 
the
 
administrators
 
of 
 
co.
 
law?
 
8.
 
Under
 
which
 
act
 
CO.s
 
in
 
India
 
are
 
registered?
 
9.
 
Explain
 
common
 
seal.
 
10.
 
Company
 
has
 
nationality
 
but
 
no
 
citizenship.
 
Explain.
 
11.
 
List
 
the
 
circumstances
 
under
 
which
 
a
 
limited
 
company
 
may
 
dispense
 
with
 
the
 
word
 
limited
 
from
 
its
 
name?
 
12.
 
What
 
is
 
meant
 
by
 
index
 
of 
 
members?
 
13.
 
List
 
any
 
two
 
main
 
privileges
 
of 
 
private
 
company.
 
14.
 
What
 
is
 
the
 
min.
 
and
 
max.
 
Limit
 
of 
 
members
 
in
 
priva
 
te
 
and
 
public
 
co.
 
15.
 
What
 
is
 
meant
 
by
 
democratic
 
management
 
in
 
J.
 
S.
 
CO?
 
16.
 
When
 
is
 
a
 
company
 
born?
 
17.
 
List
 
two
 
advantages
 
of 
 
holding
 
company.
 
18.
 
What
 
are
 
the
 
limitations
 
in
 
Government
 
Company?
 
(any
 
2)
 
19.
 
What
 
is
 
important
 
in
 
content
 
to
 
name
 
in
 
private
 
and
 
public
 
company?
 
20.
 
Explain
 
corporate
 
veil
 
in
 
company
 
form
 
of 
 
organization.
 
21.
 
Differentiate
 
private
 
and
 
public
 
company
 
on
 
the
 
basis
 
of 
 
transferability
 
of 
 
shares
 
and
 
right
 
issue.
 
22.
 
What
 
is
 
the
 
quorum
 
for
 
board
 
meeting
 
in
 
public
 
and
 
private
 
company?
 
23.
 
Why
 
 joint
 
stocks
 
company
 
form
 
of 
 
organization
 
so
 
popular.
 
24.
 
Explain
 
following
 
companies
 
with
 
two
 
examples
 
each.
 
Chartered
 
company company
 
limited
 
by
 
guarantee
 
private
 
deemed
 
to
 
be
 
public
 
co.
 
Statutory
 
company
 
foreign
 
company
 
public
 
company
 
Registered
 
company
 
holding
 
company
 
private
 
company
 
Indian
 
company
 
Defunct
 
company
 
government
 
company
 
Co.
 
limited
 
by
 
share MNC’s
 
Indian
 
company
 
25.
 
In
 
what
 
ways
 
co.
 
may
 
be
 
promoted?
 
26.
 
List
 
the
 
steps
 
for
 
the
 
formation
 
of 
 
J.S.Co.
 
27.
 
Define
 
promoter
 
28.
 
Explain
 
promotion
 
29.
 
Mention
 
the
 
steps
 
promotion
 
of 
 
co.
 
30.
 
State
 
main
 
functions
 
performed
 
by
 
promoter
 
31.
 
What
 
is
 
the
 
role
 
of 
 
promoter
 
in
 
co?
 
32.
 
Explain
 
legal
 
position
 
of 
 
promoter
 
33.
 
Under
 
what
 
circumstances
 
does
 
the
 
liability
 
of 
 
promoter
 
ceases
 
34.
 
What
 
is
 
the
 
maximum
 
ceiling
 
of 
 
remuneration
 
to
 
promoter
 
35.
 
In
 
what
 
different
 
ways
 
promoter
 
remunerated?
 
36.
 
List
 
the
 
qualities
 
of 
 
successful
 
promoter.
 
 
 
37.
 
Mention
 
the
 
documents
 
used
 
for
 
incorporation
 
38.
 
State
 
the
 
authorized
 
group
 
of 
 
people
 
for
 
declaration
 
at
 
incorporation
 
39.
 
Differentiate
 
certificate
 
of 
 
incorporation
 
and
 
certificate
 
of 
 
commencement.
 
40.
 
What
 
is
 
the
 
significance
 
of 
 
table
 
A.C.D.E
 
OF
 
A/A
 
41.
 
Explain
 
significance
 
of 
 
subscription
 
clause
 
of 
 
MoA.
 
42.
 
Differ
 
A/A
 
and
 
table
 
A
 
43.
 
State
 
legal
 
effect
 
of 
 
MoA
 
and
 
A/A
 
44.
 
State
 
ultra
 
vires
 
45.
 
State
 
the
 
declaration
 
at
 
the
 
time
 
of 
 
commencement
 
46.
 
Explain
 
minimum
 
subscription.
 
47.
 
What
 
is
 
offer
 
for
 
sale
 
48.
 
When
 
is
 
statement
 
in
 
lieu
 
of 
 
prospectus
 
filed
 
49.
 
State
 
the
 
content
 
of 
 
capital
 
clause
 
of 
 
MoA.
 
50.
 
Discuss
 
briefly
 
relationship
 
of 
 
MoA
 
and
 
A/A
 
51.
 
Define
 
prospectus
 
52.
 
What
 
happen
 
when
 
minimum
 
subscription
 
is
 
not
 
raised
 
53.
 
State
 
condition
 
which
 
are
 
essential
 
for
 
grant
 
of 
 
commencement
 
certificate
 
54.
 
State
 
significance
 
of 
 
object
 
clause
 
of 
 
MoA.
 
55.
 
Given
 
2
 
reasons
 
for
 
issuing
 
a
 
prospectus.
 
56.
 
Give
 
any
 
2
 
legal
 
provisions
 
regarding
 
an
 
issue
 
of 
 
prospectus.
 
57.
 
What
 
are
 
the
 
options
 
available
 
for
 
public
 
Co.
 
regarding
 
its
 
articles?
 
58.
 
To
 
whom
 
is
 
certificate
 
of 
 
commencement
 
issued
 
59.
 
Who
 
can
 
be
 
a
 
promoter
 
of 
 
a
 
company
 
60.
 
What
 
statutory
 
declaration
 
is
 
required
 
for
 
incorporation.
 
61.
 
Define
 
Article
 
of 
 
association
 
62.
 
Differentiate
 
prospectus
 
and
 
offer
 
for
 
sale
 
63.
 
Explain
 
Underwriting
 
of 
 
securities
 
64.
 
What
 
is
 
floatation
 
of 
 
company
 
65.
 
Explain
 
preliminary
 
expenses.
 
66.
 
What
 
is
 
a
 
misleading
 
prospectus
 
67.
 
What
 
is
 
lease
 
financing?
 
68.
 
Explain
 
CIN
 
69.
 
Mention
 
benefits
 
of 
 
 joint
 
venture.
 
70.
 
State
 
additional
 
requirements
 
of 
 
a
 
public
 
co.
 
after
 
incorporation
 
to
 
obtain
 
a
 
certificate
 
of 
 
commencement?
 
71.
 
Explain
 
shelf 
 
prospectus
 
72.
 
What
 
do
 
you
 
mean
 
by
 
red
 
herring
 
prospectus?
 
SUBJECTIVE
 
1.
 
Discuss
 
the
 
steps
 
for
 
floatation/stages
 
of 
 
formation
 
of 
 
a
 
Co.
 
2.
 
What
 
is
 
the
 
role
 
of 
 
promoter
 
a
 
Co.
 
form
 
of 
 
organization
 
/
 
Explain
 
steps
 
or
 
stages
 
in
 
promotion
 
of 
 
Co.
 
 
 
3.
 
Explain
 
various
 
functions
 
of 
 
performed
 
by
 
promoter
 
4.
 
Describe
 
various
 
documents
 
of 
 
incorporation
 
5.
 
What
 
are
 
the
 
steps
 
involved
 
in
 
registration/incorporation
 
of 
 
a
 
Co.
 
6.
 
How
 
can
 
a
 
public
 
Co.
 
commence
 
its
 
business
 
discuss
 
the
 
steps
 
7.
 
Explain
 
M/A
 
with
 
its
 
clauses
 
8.
 
Diff.
 
M/A
 
and
 
A/A
 
9.
 
What
 
is
 
A/A
 
state
 
its
 
content
 
10.
 
Define
 
prospectus
 
with
 
its
 
content
 
11.
 
Elaborate
 
factors
 
taken
 
into
 
consideration
 
for
 
scanning
 
of 
 
prospectus
 
from
 
investor’s
 
point
 
of 
 
view.
 
12.
 
Define
 
 joint
 
stock
 
company
 
explain
 
its
 
essential
 
features
 
13.
 
Differentiate
 
partnership
 
and
 
J.S.Co.
 
14.
 
Elaborate
 
reasons
 
for
 
popularity
 
of 
 
J.S.Co.
 
In
 
India.
 
15.
 
What
 
leads
 
to
 
the
 
origin
 
of 
 
J.S.Co?.
 
16.
 
Explain
 
diff.
 
types
 
of 
 
companies.
 
17.
 
Differentiate
 
private
 
and
 
public
 
company
 
18.
 
Brief 
 
out
 
various
 
exemptions
 
to
 
private
 
companies
 
under
 
company
 
law.
 
19.
 
Explain
 
holding
 
Co.
 
and
 
its
 
advantages
 
20.
 
Discuss
 
different
 
forms
 
of 
 
Transnational
 
Co.
 
working
 
in
 
India
 
with
 
examples
 
21.
 
Why
 
there
 
is
 
need/objective
 
for
 
government
 
forming
 
company?
 
22.
 
Explain
 
various
 
reasons
 
for
 
the
 
growth
 
of 
 
M.N.C’s
 
23.
 
Discuss
 
benefits
 
and
 
limitations
 
of 
 
government
 
companies.
 
24.
 
Define
 
private
 
company.
 
Explain
 
its
 
advantages
 
and
 
disadvantages.
 
25.
 
In
 
What
 
ways
 
transnational
 
companies
 
are
 
harmful
 
for
 
hosts?
 
26.
 
Comment
 
on
 
public
 
companies/J.S.Co.
 
In
 
reference
 
to
 
its
 
merits
 
and
 
demerits.
 
27.
 
“Private
 
companies
 
are
 
compromise
 
between
 
partnership
 
and
 
public
 
company”
 
explain.
 
28.
 
Explain
 
the
 
objectives
 
of 
 
a
 
 joint
 
stock
 
company.
 
29.
 
Explain
 
different
 
types
 
of 
 
promoters.
 
30.
 
Explain
 
features
 
of 
 
M.N.C’s
 
31.
 
Give
 
the
 
merits
 
and
 
demerits
 
of 
 
multinationals
 
MANAGERIAL
 
PERSONNEL
 
UNIT
 
II
 
OBJECTIVE
 
QUESTIONS
 
1.
 
STATE
 
2
 
METHODS
 
OF
 
APPOINTMENT
 
OF
 
M.D
 
2.
 
MENTION
 
2
 
DISQUALIFICATIONS
 
OF
 
A
 
DIRECTOR
 
3.
 
GIVE
 
2
 
QUALIFICATIONS
 
OF
 
A
 
DIRECTOR
 
4.
 
WHAT
 
IS
 
A
 
MAXIMUM
 
TENURE
 
OF
 
A
 
M.D?
 
5.
 
WHO
 
IS
 
AN
 
ALTERNATE
 
DIRECTOR?
 
6.
 
UNDER
 
WHAT
 
CIRCUMSTANCES
 
CAN
 
THE
 
CENTRAL
 
GOVERNMENT
 
APPOINT
 
A
 
M.D
 

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