Tag: forms of business organisation - 2

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Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

__________ includes the rules and regulations on which the company's internal affairs are to be done.

  1. Articles of association

  2. Memorandum of association

  3. Prospectus

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

The Articles of Association (AoA) or the Articles, contain rules for the internal management of a company. It is a legal document prepared by a company to explicitly state the purpose of a company, the procedure to conduct its internal affairs and most importantly the responsibility and authority of the directors, members and other stakeholder. The Articles have to be submitted to the Registrar of Companies during formation of a company in Form INC-34 along with the Memorandum of Association in Form INC-33.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

The term company is defined under which sec of the Act?

  1. Sec 3(1)

  2. Sec 4 (2)

  3. Sec 5 (4)

  4. Sec 1(3)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

As per the section 3(1) of the companies act:

(1) In this Act, unless the context otherwise requires, the expressions" company"," existing company"," private company" and" public company" shall, subject to the provisions of sub- section (2), have the meanings specified below:-
(i) " company" means a company formed and registered under this Act or an existing company as defined in clause (ii);

(ii) " existing company" means a company formed and register- ed under any of the previous companies laws.


Now these provisions are dealt by the Companies Act, 2013.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

The acronym STEEP means ____________.

  1. Social, Technological, Economical, Environmental, and Political&nbsp;<span>&nbsp;</span>

  2. Suppliers, Technology conditions, Ecology and physical environment, Political and legal

  3. Employees &amp; Political legal

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

STEEP is basically an acronym which stands for Social, Technological, Economical, Environmental, and Political. A STEEP analysis is a tool commonly used in marketing to evaluate different external factors which impact an organization. It is essential for every business to consider some external forces before they can take decisions. 

The social developments include factors like consumer behavior demographics, religion, lifestyles, values, and advertising. 
The technology aspect of STEEP analysis focuses highly on technological advancements.The economic condition is strongly associated with the consumers’ buying position. 
Environmental developments involve ecosystem factors such as water, wind, food, soil, energy, pollution and environmental regulations. The Political developments can highly influence individuals and organizations.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

When there is a conversion of a private company into a public company____ must be issued.

  1. deemed prospectus

  2. shelf prospectus

  3. statement in lieu of prospectus

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

When a private company is converting into a public company it has to file with concerned ROC the Statement in Lieu of Prospectus. A statement in lieu of prospectus is defined as ‘a public document prepared in the second schedule of companies ordinance by every such public company which does not issue a prospectus on its formation by filing with the registrar before allotment or shares of debentures, and signed by every person who is named therein’. A statement in lieu of prospectus gives practically the same information as a prospectus and is signed by all the directors or proposed directors. In case the company has not filed a statement in lieu of prospectus with the registrar, it is then not allowed to allot any of its shares or debentures.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Can a public ltd. company hold an AGM on a public holiday?

  1. Yes

  2. No

  3. Both a and b

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

Annual General Meeting of a public company cannot be held on a public holiday. Section 166(2) inter alia states that every annual general meeting shall be called on a day, which is not a public holiday. It has been clarified by the Department (MCA) vide Circular F. No. 8/23/(166 /69-CL-V that section 166 of the Companies Act deals with the actual period during which the annual general meeting is to be held. Sub-section (2) states that every annual general meeting shall be held on a day that is not a public holiday and this provision is mandatory.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Reliance Industries Ltd. was founded by _________.

  1. Anil Ambani

  2. Mukesh Ambani

  3. Akash Ambani

  4. Dhirubhai Ambani
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Reliance Industries Limited is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Who is the Chairman of Bharti Airtel?

  1. Deepak Mittal

  2. Navin Mittal

  3. Sunil Mittal

  4. Anil Mittal
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Sunil Bharti Mittal is an Indian Billionaire entrepreneur, philanthropist and the Founder & Chairman of Bharti Enterprises, which has diversified interests in telecom, insurance, real estate, education, malls, hospitality, agri and food besides other venture.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

The areas like health and hygiene, public interest, philanthropic activities comes under _____________.

  1. Corporate Social Responsibility

  2. Critical Success Factors

  3. Common Social Responsibility

  4. Common Success Review
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Corporate social responsibility is a commitment to do more than just serve the needs and expectations of customers and shareholders. It can also mean going beyond business basics and serving a social need. 

Through corporate social responsibility programs, including responsible business practices, philanthropy and volunteer efforts, businesses can benefit society while boosting their brand. A CSR program cannot be implemented until a business is profitable. 
A company cannot benefit society if it does not adhere to labor and tax laws or applicable industry regulations. Ethical responsibilities include paying higher wages, offering employees better benefits, avoiding trade with unscrupulous companies or providing jobs to those who would otherwise have difficulty finding work. 
Corporate philanthropy ranges in size and scope, and can include everything from donating time to a local charity to building a children’s hospital.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

360 degree feedback is also known as __________.

  1. multi-rater feedback

  2. multi-source feedback

  3. all-rounder feedback

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

360 Degree Feedback is a system or process in which employees receive confidential, anonymous feedback from the people who work around them. This typically includes the employee's manager, peers, and direct reports. 

Managers and leaders within organizations use 360 feedback surveys to get a better understanding of their strengths and weaknesses. 
A 360-degree feedback is also known as multi-rater feedback, multi source feedback, or multi source assessment.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Which of the following form of organization is/are used for the public sector enterprises in India?
(i) Departmental undertaking
(ii) Statutory corporation
(iii) Government company
Select the correct answer from the options given.

  1. (i) only

  2. (ii) only

  3. (i) and (ii) only

  4. (i), (ii) and (iii)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
  1. A departmental undertaking is self- contained but it is under the overall control of the departmental head and the ministry concerned. It is a very old and traditional form of public enterprise. It may be organized as a separate full-fledged ministry.
  2. 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.
  3. Government Company is a company or an organization in which at least 51% of the paid up share capital is held by the central government or the state government or partly by both central and state government.