• A company shall have its Registered Office from the date                  of its incorporation.
    • 7th day
    • 15th day
    • 30th day
    • one month
  • Answer is : (B) Justification : Sec. 12 – A company shall on and from the fifteenth day of its  incorporation  have  a  Regd.  Office  to  receive  & acknowledge of communication & notices addressed to it.
  • Board of every Company shall ensure that the company spends in every financial year on account of CSR Policy at least
    • 5% of average Net Profit.
    • 3% of average Net Profit.
    • 2.5% of average Net Profit.
    • 2% of average Net Profit.
  • Answer is : (D) Justification : Towards CSR expense (Sec. 135)
  • During any financial year Corporate Social Responsibility Committees of the Board shall be constituted by every Company having
    • Turnover of ` 5,000 crores or more.
    • A Net Profit of ` 2 crores or more.
    • Net Worth of ` 5 crores or more.
    • Authorized capital of ` 500 crores or more.
  • Answer is : (A) Justification : According to Section 135(1) of the Companies Act 2013, every Company having net worth of rupees five hundred crores or more, or turnover of ` One thousand crores or more or a net profit of rupees five crores or more during any financial year shall constitute a corporate social Responsibility Committee of the Board.In view of the above, Option (A) Turnover of ` 5000 crores or more which is more than of rupees one thousand crores or more as per required provision stated above should be considered.
  • Under Insolvency Bankruptcy code 2016 where extension of time is requested, the Corporate Resolution process shall be completed within a period of                                                   from the date of admission of the application to initiate such process.
    • 60 days
    • 90 days
    • 180 days
    • 240 days
  • Answer is ( c ) : Justification : Where extension of time is requested, the corporate insolvency resolution process shall be completed within a period of 180 days [Sec 12 (2)].
  • According to Banking Regulation Act 1949, no Banking Company shall pay dividend on its shares until all its
    • Depreciation is fully written off.
    • “Capitalized expenses” have been completely written off
    • Bad debts are provided in full.
    • Contingent liability is settled.
  • Answer is (B) : Justification : Sec. 15 prohibits every Banking Co. from paying any dividend on its share until all its capitalized expense completely written off.
  • The Director  prepared  the  annual  accounts  in  Director  Responsibility  Statement  on  a / an
    • Money measurement basis
    • Going concern basis
    • Accrual basis
    • Business Entity basis
  • Answer is (B) : Justification : The director prepared the annual accounts in Director Responsibility Statement on a going concern basis.
  • Accounts  and  Balance  Sheet  along with  auditor’s  reports  should be  filed with Reserve Bank of  India  within__ from the end of  the period  to which these relate.
    • 3 months
    • 6 months
    • 9 months
    • 12 months
  • Answer is (A) : Justification : Section 31, the accounts and balance sheet together with the auditor’s report’s shall be furnished as returns to the Reserve Bank within three months from the end of the period to which these relate.
  • A minor can be nominated as a nominee in Life Insurance Policy by its
    • Drawer
    • Agent
    • Holder
    • Corporation
  • Answer is (C) : Justification : A minor can be nominated as a nominee in life insurance policy by its holder.
  • Which of the following is not the type of unfair competition?
    • Collusive price fixing
    • Creation of  barriers to entry
    • Tie in purchase
    • Predatory pricing
  • Answer is ( C ) : Justification : Tie in purchase is not the type of unfair competition.
  • Business should____the interests of and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalized.
    • Accept
    • Respect
    • Reject
    • Object
  • Answer is (B) ; Justification ; Business should respect the interests of and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalized.

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