Tag: sectoral organisation of business

Questions Related to sectoral organisation of business

Under section 44 of the companies Act_________________.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. A private company can convert into public company

  2. A private company can wound up

  3. A public company can wound up

  4. None of the above

Show answer
Correct Option: A
Explanation:

Section 44 of the Companies Act 2013: Nature of Shares or Debentures. The shares or debentures or other interest of any member in a company shall be movable property transferable in the manner provided by the articles of the company.

Minimum paid up share capital in case of a private company is _______.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. $1$ Lakh

  2. $2$ Lakhs

  3. $3$ Lakhs

  4. $4$ Lakhs

Show answer
Correct Option: A
Explanation:

The Companies Act, 2013 earlier mandated that all Private Limited Companies have a minimum paid up capital of Rs.1 lakh. 

This meant that Rs.1 lakh worth of money had to be invested in the company by purchase of the company shares by the shareholders to start business.

If you want to recommend that your company upgrade its equipment, it would be most likely that you would write a _____________.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. Feasibility report

  2. Closure report

  3. Justification report

  4. Formal proposal

Show answer
Correct Option: C
Explanation:

Justification Report is a document which serves as an annexure to the notice sent to the deductor. Also, Justification Report is made available in the TRACES portal. The user has to request and download the file from the TRACES portal.

Maximum no. of members in case of private company is_________________.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. $50$

  2. $100$

  3. $150$

  4. $200$

Show answer
Correct Option: D
Explanation:

464 says "Provided that the number of persons which may be prescribed under this sub-section shall not exceed one hundred." i.e. by rules limit can be prescribed, but whatever limit is prescribed it must not be greater than 100 (i.e. upto 100). And, the limit prescribed is 50 as per rules. Hence, current limit is 50 for a private company. 

To start a company, a minimum number of 2 members are required and a maximum number of 200 members as per the provisions of the Companies Act, 2013.

Board meeting can be held on _________.

organisation of commerce and management sectoral organisation of business classification of commercial organisations public, private and joint sector private and public sector departmental undertakings meaning and features of departmental undertaking

  1. public holiday

  2. outside registered office

  3. convenient time

  4. all of the above

Show answer
Correct Option: D
Explanation:

Board meetings are normally held during business hours and on a day, which is not a public holiday. However, a Board meeting may validly be held on public holiday. Department has clarified vide Letter No. 8/11(285)/63-PR, dated 2-5- 1963 that it would not raise any objection if an original Board meeting is not held on a working day for the convenience of the directors although it states that an original Board Meeting should be held on a working day.  Board meetings can be held during non-business hours also. There is no restriction that only business hours have to be used. A company’s registered office or head office or any other campus can be used to have the meeting, irrespective of the fact whether or not it is within the same city, town, village or state which houses the registered office. Meetings can also take place in another country. Participation of the directors by video conferencing or by other audio visual means shall also be valid.

Maximum number of members in case of a public company is ____________.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. $0$

  2. unlimited

  3. $50$

  4. $200$

Show answer
Correct Option: B
Explanation:

There is no limit on maximum numbers of members in case of public companies (in India).

Who is the Chairman of Bajaj Auto?

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. Sanjiv Bajaj

  2. Rajiv Bajaj

  3. Jamnalal Bajaj

  4. Rahul Bajaj

Show answer
Correct Option: D
Explanation:

Rahul Bajaj is an Indian billionaire businessman, politician and philanthropist. He is the chairman of Indian conglomerate Bajaj Group and member of parliament. Bajaj comes from the business house started by a Rajasthani Marwadi businessman Jamnalal Bajaj.

Larsen & Toubro Ltd. was founded by _______.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. Indians

  2. Americans

  3. Danish

  4. Europeans

Show answer
Correct Option: C
Explanation:

Larsen & Toubro Limited, commonly known as L&T, is one of the largest Indian multi-national firms and leading construction company in India headquartered in Mumbai, Maharashtra, India. It was founded by two Danish engineers taking refuge in India.

ITC was originally named as _______.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. Imperial Tobacco company

  2. Indian Tobacco company

  3. Indian Tea company

  4. None of the above

Show answer
Correct Option: A
Explanation:

ITC Limited is an Indian company headquartered in Kolkata, West Bengal. Its five diversified businesses are Fast-Moving Consumer Goods, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business and Information Technology.

Private limited company may appoint ________ number of directors.

commercial studies classification of commercial organisations public, private and joint sector private and public sector sectoral organisation of business departmental undertakings meaning and features of departmental undertaking

  1. 12

  2. 3

  3. 18

  4. 15

Show answer
Correct Option: D
Explanation:

According to section 149(1) of companies act 2013, a private company can appoint minimum 2 directors and maximum 15 directors.