Tag: commercial applications

Quizzes (170) Questions (1551)

Questions Related to commercial applications

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

An advocate in India sue for his fees.

  1. True

  2. False

  3. Partially true

  4. Totally irrelevant
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Yes, in India an advocate sue for his fees. Charging of fees depends on the Lawyers considering the nature of the case, status of the litigants, labour that requires in research works, etc. Even there are Lawyers who charge or not even charge for many good causes. 

Therefore, for this query, i answer that the fee of the lawyers is solely at the wisdom of the lawyer. They deal with the cases and whatever be the result, they take it to appeal or defend the appeal.
 If the case ends in their favour, other side would prefer appeal and if the case ends against his client, he would prefer appeal. So in any ways, he gets fruits. I would rather say, it is like harvesting coconut trees which gives yield in all the ways.

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

_____is the conclusive evidence in case of company that statutory all the requirements have complied with regarding the company registration.

  1. Certificate of incorporation

  2. Certificate of commencement of business

  3. Both

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Certificate of incorporation is a legal document required at the time of company formation. It is said to be a license to form a company, issued by the state government. Certificate of incorporation has been divided into the different articles but there are many others things that can be included in the certificate of Incorporation. There should be a digital signature which should add by the director of the corporation.

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

Statutory meeting is to be held by __________________.

  1. Public Limited company

  2. Private Limited company

  3. Both a & b

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

It is a limited liability company whose shares may be freely sold and traded to the public (although a plc may also be privately held, often by another plc), with a minimum share capital of £50,000 and usually with the letters PLC after its name.

It is a limited liability company whose shares may be freely sold and traded to the public (although a plc may also be privately held, often by another plc), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Public limited companies will also have a separate legal identity.

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

Corporate citizenship is also known as _________.

  1. Corporate Governance

  2. Corporate image

  3. Corporate Social Responsibility

  4. Both (a) and (c)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Corporate Citizenship is a recognition that a business, corporation or business-like organisation, has social, cultural and environmental responsibilities to the community in which it seeks a licence to operate, as well as economic and financial ones to its shareholders or immediate stakeholders.

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

Which of the following is/are statutory corporation?

  1. Life Insurance Corporation(LIC)

  2. Unit Trust of India(UTI)

  3. Food Corporation of India

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments.It is a corporate person and has the capacity of acting in its own name.

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

Which of the following refers to a corporate body created by the Parliament of State Legislature by a special Act which defines its powers, functions and pattern of management?

  1. Departmental undertaking

  2. Statutory corporation

  3. Government company

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A statutory corporation is a corporation created by the state. Their precise nature varies by jurisdiction, thus, they might be ordinary companies/corporations owned by a government. Examples: Reserve Bank of India, State Bank of India, Life Insurance Corporation, Unit Trust of India, Employees State Insurance Corporation, Oil and Natural Gas Corporation etc. are some examples of statutory corporations

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

Statutory body is a body that is created under an ______________.

  1. Act of Parliament

  2. An Act of State Legislatures

  3. Neither (a] nor (b)

  4. Either (a) or (b)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statutory body- any body that derives its power from a 'Law' or 'Statute' made by Parliament is called as statutory body or statutory authority. 

Non-statutory body These are bodies which are formed by executive resolution or action, which means that they are formed by governments action only.

Multiple choice commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

Which amongst the following is NOT a role of a Company Secretary?

  1. As a statutory officer

  2. As an administrative officer

  3. As a coordinator

  4. As a manager
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Despite the name, the role is not clerical or secretarial.

The requirement to appoint a Company Secretary in Private Limited Company is governed by the Provision of Rule 8A and in Public / Listed Company by the provisions of Rule 8 of The Companies “Appointment and Remuneration of Managerial Personnel” Chapter XIII under Section 203 of the Companies Act, 2013.