Legal Aspects Of Business - Study Mode

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[#496] What is the maximum number of company/companies a person can act as managing director at a time?

(A) 1

(B) 2

(C) 4

(D) 5

Correct Answer

(B) 2

[#497] As per Companies Act 1956, who among the following must be included in the Audit Committee constituted in a Company?

(A) Managing Director and other whole-time Directors

(B) the Auditor and the Internal Auditor

(C) the Company Secretary

(D) the Directors who are not whole time and the Managing Director

Correct Answer

(B) the Auditor and the Internal Auditor

[#498] Who is not included in the quorum for a valid company meeting:

(A) Proxy

(B) Person nominated by the President of India

(C) Person nominated by the Governor of the State

(D) A lady member

Correct Answer

(A) Proxy

[#499] For a company to carry out capital reduction, permission is required from

(A) Central government

(B) Court

(C) Controller of capital issue

(D) Company law board

Correct Answer

(B) Court

[#500] Which of the following is/are false about Dishonour of Cheque? 1. Section 138 defines Dishonour of cheque in terms of issues such as insufficiency of funds in the account. 2. Such cheque has been presented to the bank within a period of twelve months from the date on which it is drawn or within the period of its validity, whichever is earlier. 3. Imprisonment for such offence may be extended for period of five year. 4. Section 138 apply unless - the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice.

(A) 1 and 4

(B) 2 and 3

(C) 2, 3 and 4

(D) Only 4

Correct Answer

(B) 2 and 3