Tag: business studies

Questions Related to business studies

Company's corporate personality was brought forward in the case of ___________________.

sectoral organisation of business private, public and global enterprises business studies

  1. Macaura V. Northan Assurance Co. Ltd

  2. Jons V. Lipman

  3. CIT V. Meenakshi Mills Ltd.

  4. Salomon V Salomon and Co. Ltd.

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Correct Option: D
Explanation:

Salomon v Salomon & Co Ltd [1897] AC 22 (law cite link) was the case that got me interested in corporate law. The principle from the case is very simple - a company is a separate legal entity and thus a juristic "person" in the eyes of the law. Piercing the corporate veil refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally liable for the corporation's actions or debts. Veil piercing is most common in close corporations.

Issues affecting the privacy of the employee __________________.

sectoral organisation of business private, public and global enterprises business studies

  1. Anti-competitive practices

  2. Workplace surveillance

  3. Drug testing

  4. (b) and (c)

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Correct Option: D
Explanation:

Privacy Issues in the Workplace. Generally speaking, privacy rights are granted (if at all) by specific laws, rules, or regulations. Personnel Records:Employees generally have a right to privacy in their personnel records, except in a few specific circumstances. Employee privacy rights are the rules that limit how extensively an employer can search an employee's possessions or person; monitor their actions, speech, or correspondence; and know about their personal lives, especially but not exclusively in the workplace.

Which company has a minimum paid up capital of one lakh rupees or higher? 

sectoral organisation of business private, public and global enterprises business studies

  1. Government Company

  2. Private Company

  3. Producer Company

  4. Subsidiary Company

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Correct Option: B
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.

Paid-up capital is the amount of money a company has received from shareholders in exchange for shares of stock. Paid-up capital is created when a company sells its shares on the primary market, directly to investors.

Premises which are absolutely beyond the clutch of business enterprises are _________________.

sectoral organisation of business private, public and global enterprises business studies

  1. Non-controllable

  2. Controllable premises

  3. (a) and (b)

  4. (a) or (b)

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Correct Option: A

What are the limits of number of members in a Private Company?

sectoral organisation of business private, public and global enterprises business studies

  1. Fifty

  2. Seven

  3. Twenty

  4. Two hundred

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Correct Option: D
Explanation:

This type of entity limits the owner's liability to their ownership stake and restricts shareholders from publicly trading shares. Members: You can start a private limited company with a minimum of only 2 members (and maximum of 200), as per the provisions of the Companies Act 2013. Minimum 2 and Maximum 20 can only be a part of partnership firm while for private limited company, 2 to 50 members in case of Private Company and Minimum 7 members in case of Public Company can be a part and in LLP's there has to be minimum 2 partners and there is no limitation of maximum number of partners.

________ stage is concerned with the possible use of filing and indexing system.

record management and office equipment business office - meaning, importance, functions and departments office management business organisation business studies office circulars concept of office management

  1. Creation

  2. Utilization

  3. Storage

  4. Retrieval

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Correct Option: C

Duplicators are machines that produce substantial number of copies from a master copy.

record management and office equipment business office - meaning, importance, functions and departments office management business organisation business studies office circulars concept of office management

  1. True

  2. False

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Correct Option: A

Record maintenance is required because _____.

record management and office equipment business office - meaning, importance, functions and departments office management business organisation business studies office circulars concept of office management

  1. it helps develop efficient procedures for each stage of the cycle

  2. it reduces cost in each stage of the record cycle

  3. it eliminates needless storage of duplicate records

  4. all of the above

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Correct Option: D

______ stage is also called as destruction stage.

record management and office equipment business office - meaning, importance, functions and departments office management business organisation business studies office circulars concept of office management

  1. Retrieval

  2. Storage

  3. Utilization

  4. Disposition

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Correct Option: D

Which of the following is/are the advantage(s) of the adding machine?

record management and office equipment business office - meaning, importance, functions and departments office management business organisation business studies office circulars concept of office management

  1. It quickens the process of calculation.

  2. It relieves the monotony of the clerk.

  3. It facilitates checking and cross checking of calculations.

  4. All of the above

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Correct Option: D