A company shall have its Registered Office from the date of its incorporation.
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 beconsidered.
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.
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
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.
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
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
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.
Answer is (B) ; Justification ; Business should respect the interests of and be responsive towards all stakeholders, especially those who aredisadvantaged, vulnerable and marginalized.