NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc.: Commerce MCQs (Practice_Test 7 of 99)
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- O & M can be strengthened chiefly through
- wage incentive plans
- good store-keeping
- improved office layout
- better work measurement
- Informal organization is as necessary as formal organization chiefly for the reason that it
- resists change
- builds morale
- has close association with decision making
- fulfils separate goals and standards
- After the commencement of the Companies Act, 1956 no person, save as otherwise provided in Section 276, shall hold office as director at the same time in more than
- 5 Companies
- 10 Companies
- 15 Companies
- 20 Companies
- Consider the following statements:
- Board of Directors appoints the first auditor of the company.
- A shareholder of a company can become member of the Board.
- Board of Directors can act as auditors.
- Director of one company can be appointed as Director to any number of companies.
- Which of the above statements are correct?
- 1,2 and 3
- 1 and 3
- 1 and 2
- 2,3 and 4
- Match List I with List II and select the correct answer
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 7 of 99) List-I List-II - Company Secretary
- Director
- Managing Director
- Internal Auditor
- In charge of statutory and administrative duties
- Reports to the shareholders
- Reports to the Management
- Trustee of Company՚s assets
- Reports to the Board of Directors
- A
- B
- C
- D
- 1
- 5
- 2
- 3
- 3
- 5
- 2
- 1
- 1
- 4
- 5
- 3
- 3
- 4
- 5
- 1
- Consider the following statements
- The minimum number of directors in a public company is three.
- The first directors are appointed by the first general meeting.
- An official director appointed by the government in a public company is required to possess qualification shares within 2 months of his appointment.
- The Company Secretary is appointed by Board of Directors.
- Which of the above statements are correct?
- 1 and 2
- 1 and 4
- 2 and 3
- 2 and 4
- A director having direct or indirect, interest or concern in a transaction of the company, has to disclose his interest in a meeting to the
- Board of Directors
- Shareholders
- Company Secretary
- Registrar of Companies
- Which one of the following reports should have ‘responsibility statement’ under the Companies Act, 1956?
- Auditor՚s report
- Board of Director՚s report
- Company Secretary՚s report
- Audit Committee՚s report
- Which ore of the following reports deals with ‘Corporate governance’
- Sabhanayagam Report
- Kumaramangalam Birla Report
- Narasimhan Report
- L C Gupta Report
- Minimum paid-up capital required to incorporate a public-limited company is
- ₹ 20,000
- ₹ 1,00, 000
- ₹ 5,00, 000
- ₹ 10,00, 000
- As per the Companies Act, 1956, who among the following must be included in the Audit Committee constituted in a company?
- Managing Director and whole-time Director
- Auditor and Internal Auditor
- Company Secretary V
- Directors who are not whole-time
- Managing Director
- Match List I (Concept relating to company meetings) with List II (Meaning) and select the correct answer:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 7 of 99) List-I List-II - Proxy
- Quorum
- Statutory Meeting
- Annual General Meeting
- Minimum number of members required to be present
- Getting the right to vote only
- Conducted once in a year
- Once in the lift time of a company
- Meeting of a particular group of shareholders
- A
- B
- C
- D
- 5
- 3
- 2
- 1
- 2
- 1
- 4
- 3
- 5
- 1
- 2
- 3
- 2
- 3
- 4
- 1
- Match List I (Company having paid-up capital more than) with list II (Must have/be a) and select the correct answer using the codes given below:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 7 of 99) List-I List-II - One lakh rupees
- Ten lakh rupees
- Fifty lakh rupees
- Five crore rupees
- Whole-time Director
- Secretarial compliance report
- Qualified Company Secretary
- Public limited Company
- Private limited Company
- A
- B
- C
- D
- 5
- 4
- 3
- 1
- 3
- 4
- 1
- 5
- 5
- 2
- 3
- 1
- 3
- 2
- 1
- 5
- Assertion (A) : The best way of reporting of social responsibility is to prepare a Value Added Statement (VAS) to show the income earned by the providers of capital, the employees and the government.
- Reason (R) : A business is accountable to the society since it makes use of community-owned assets such as roads, railways, communication and other infrastructural facilities and concessions provided by the state from the tax-payers money.
- Both A and Rare true and R is the correct explanation of A
- Both A and R are true but R is NOT the correct explanation of A
- A is true but R is false
- A is false but R is true
- Assertion (A) : The interest on borrowed funds can be capitalized upto the completion of fixed assets.
- Reason (R) : The completion of fixed assets has been possible only because of these funds.
- Both A and Rare true and R is the correct explanation of A
- Both A and R are true but R is NOT the correct explanation of A
- A is true but R is false
- A is false but R is true