Tag: company

Quizzes (10) Questions (165)

Questions Related to company

Multiple choice memorandum of understanding and articles of association company business studies

Practicing Company Secretary has been authorized to appear as authorized representative before  the Securities Appellate Tribunal (SAT) under _____.

  1. SEBI Act, 1991

  2. Depositories Act, 1996

  3. Either (A) or (B)

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

Practicing Company Secretaries are authorized to appear before the Securities Appellate Tribunal under both the SEBI Act, 1991, and the Depositories Act, 1996.

Multiple choice memorandum of understanding and articles of association company business studies

The audit report, besides other things necessary in any particular case, need not to expressly state -

  1. Whether, in opinion of auditor, proper books of account as required by law have been kept by the company

  2. Whether the company's balance sheet and profit and loss account dealt with by the report are in agreement with the books of account and returns.

  3. Whether books of account gives true and fair view

  4. Whether fit and proper person are appointed in the board of the company.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The auditor is required to state whether the books of account are kept as required by law, whether the balance sheet and P&L account are in agreement with the books, and whether they give a true and fair view. Option D is not a standard requirement for the audit report under the Act.

Multiple choice memorandum of understanding and articles of association company business studies

Which of the following shall be eligible for appointment as an auditor of a company as per Section 141(3) of the Companies Act, 2013?

  1. An officer or employee of the company

  2. A person who, or his relative or partner is indebted to the company, or its subsidiary, or its holding or associate company or a subsidiary of such holding company, in excess of Rs. 5 Lakhs

  3. A person whose relative hold security or interest in the company of face value not exceeding Rs. one lakh

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice memorandum of understanding and articles of association company business studies

As per Section 141(1) of the Companies Act, 2013, a person shall be eligible for appointment as an auditor of a company only if he is a -

  1. Chartered Accountant

  2. Company Accountant

  3. Statuary Auditor

  4. Chartered Accountant & Company Secretary
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Section 141(1) of the Companies Act, 2013, specifies that only a Chartered Accountant (or a firm where the majority of partners are Chartered Accountants) is eligible for appointment as an auditor.

Multiple choice memorandum of understanding and articles of association company business studies

Which of the following shall NOT be eligible for appointment as an auditor of a company as per Section 141(3) of the Companies Act, 2013?
(I) A body corporate
(II) Limited liability partnership
(III) An officer of the company
(IV) An employee of the company
(V) A person who is a partner of an officer or employee of the company
(VI) A person who is in the employment of an officer or employee of the company
(VII) A person who is indebted to the company in excess of Rs. 2 Lakhs but below Rs. 5 Lakhs
The correct answer is -

  1. (I), (II), (III), (IV), (V) & (VI)

  2. (I), (II), (III), (IV) & (VII)

  3. (II), (III) & (VII)

  4. (I), (III), (IV), (V) & (VI)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Section 141(3) lists various categories of persons disqualified from being appointed as an auditor, including bodies corporate, officers, employees, and their partners or employees.

Multiple choice memorandum of understanding and articles of association company business studies

Prof. Goodhart says that ration decidendi is nothing more than the decision based on the ............... of the case.

  1. important facts

  2. material facts

  3. legal facts

  4. fact in issue
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In legal theory, Prof. Goodhart argued that the ratio decidendi is the principle of law derived from the material facts of the case, as opposed to the judge's reasoning or obiter dicta.