LIST OF ATTEMPTED QUESTIONS AND ANSWERS (Legal Aspects of Finance_5)

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Correct Answer Only one director in India for the time being

Multiple Choice Multiple Answer

Question Object Clauses are divided into :-
Correct Answer Main Object , Object incidental or ancillary to Main , Other Objects

Multiple Choice Multiple Answer

Question Board of directors have to take consent of general meeting for :-
Correct Answer Sale, lease or dispose of company's property , Give time to
repayment of debt due by director , Contribute to charitable funds
exceeding Rs 50000/- or 5% of average net profits
Your Answer Sale, lease or dispose of company's property , Give time to
repayment of debt due by director , Filling of vacancies

True/False
Question The independent director is a supplier of a service provider of the
company.
Correct Answer False
Select The Blank
Question Liability clause can be found in ________.
Correct Answer Memorandum of Association
Your Answer Articles of Association

Multiple Choice Single Answer

Question In each board meeting director is paid by remuneration, which is
known as :-
Correct Answer Sitting fees
Your Answer Meeting fees

Multiple Choice Single Answer

Question Maximum fine which can be levied for default in placing accounts
before AGM is :-
Correct Answer Rs. 50,000
Your Answer Rs. One lac

Multiple Choice Multiple Answer

Question The auditor shall inquire :-
Correct Answer Whether transactions of the company which are represented merely
by book entries are not prejudicial to the interest of the company or
members , Whether loans & advances made by the company have
been shown as deposits , Whether personal expenses have been
charged to revenue account
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