Multiple Choice Question on Law and Ethics

• According to Minimum Wages Act, 1948 wage slip shall be issued by every employer to his employees
  • One day prior to disbursement of wages
  • On the date of disbursement of wages
  • One day later to the disbursement of wages
  • Anytime during the month

• All monies received on application shall be kept in a separate bank account in a bank.
  • Nationalised
  • Scheduled
  • Government
  • Any of the above

• Where a company issues shares with differential right, the  should be maintained under Section 88 of Companies Act, 2013.
  • List of share-holders
  • Register of shares
  • Register of Members
  • List of shares

• Rule 34 provides that where the Tribunal has made winding up order of a LLP, the liquidator shall submit a report containing which of the following particulars:
  • Debts due to the LLP
  • Guarantees given by the LLP
  • Existing and contingent liabilities of the LLP
  • All of the above

• Every member of a company listed by shares and holding equity share capital shall have the right to  on every  placed before the company.
  • vote; resolution
  • Speak; agenda
  • Speak; resolution
  • Any of the above.

• When a professional promotes a position or opinion to such extent that some objectivity may have to be compromised, this threat is known as
  • Familiarity threat
  • Objectivity threat
  • Advocacy threat
  • Intimidation threat

• The  of the company shall contain the regulations for management of the company.
  • Articles
  • Memorandum
  • Both
  • None of the above

• The supervisory board under the German Model is known as
  • Aufsichtsrat
  • Kiertsu
  • Vorstand
  • Kyosei

• An audit committee has four fold relationship and therefore has to interact with management, internal auditor, public and
  • Cost auditor
  • Statutory auditor
  • Tax auditor
  • Management auditor

• Which of the following is a method of discharge from liability?
  • By endorsement
  • By promising
  • By cancellation
  • By registration

• A partner may contribute to the LLP
  • tangible or intangible property.
  • moveable or immoveable property.
  • money, promissory note etc.
  • Any of the above

• Gratuity is payable to an employee after he has rendered continuous service for not less than five years on his
  • transfer
  • daughter’s marriage
  • re-employment
  • resignation

• Who will not be considered as an employee?
  • Canteen workers
  • Casual workers
  • Partners
  • Part time employee

• “Individual pension account” means an account of subscriber, executed by a contract setting out the terms and conditions under the
  • Provident fund scheme
  • National pension system
  • Citizen welfare system
  • Minimum wage payment scheme

• Which of the following is not a category of company?
  • Inactive company
  • Assistant company
  • Dormant company
  • Producer company

• Section 92 of the Companies Act, 2013 requires a company to prepare and file annual return in form no.
  • MGT-12
  • INC-23
  • MGT-7
  • SH-10

• The main feature of e-contract is
  • Cost and acceptability
  • Purity and clarity
  • Speed, accurate and reliable
  • Perfection and attractive

• Which of the following is not an unpaid seller’s right against the goods?
  • The right of retention
  • The right of stoppage in transit
  • The right of seeking claim for damage
  • The right of resale

• Where the endorser does not want that the endorsee or any other holder to incur any expense on his account is called
  • Restrictive endorsement
  • Sans frais endorsement
  • Conditional endorsement
  • Unwanted endorsement

• The liability of the partners will continue for the acts done before the dissolution, even after the dissolution, until
  • Public notice is given of the dissolution
  • Partners are getting the final payment
  • Claim is demanded by the creditors
  • The death of partners

• Every employee shall be entitled to receive bonus from his employer in an accounting year if he has worked for not less than
  • Ten working days
  • Twenty working days
  • Thirty working days
  • Forty working days

• Under Employee’s State Insurance Act, 1948, the term of the office of the members of Medical Benefit Council shall be
  • 2 Years
  • 4 Years
  • 5 Years
  • 10 Years

• Which one cannot be transacted through postal ballot?
  • Appointment of auditor
  • Election of a Director
  • Buy back of shares by a company
  • Change in place of registered office outside the local limits of any city, town or village

• The appointment of an independent director shall be approved by the
  • Board meeting
  • General meeting
  • Registrar of Companies
  • Central Government

• The sweat equity shares shall be locked in for a period of  years from the date of allotment.
  • One
  • Two
  • Three
  • Four

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