Legal Aspects Of Business - Study Mode
[#701] Which of the following can be termed as the general benefits of Limited Liability Partnership? 1. Less compliance cost. 2. Audit necessary only if turnover and contribution exceed Rs. 40 lacs and Rs. 25 lacs respectively. 3. The partners can distribute the profits among themselves without attracting any further taxation, i.e., Dividend Distribution Tax. 4. Various stringent provisions that prohibit the Company to take loans from individual or give loans to the respective Director are not there in case of LLP. 5. There are no restrictions on related party transactions in case of LLP.
Correct Answer
(D) 1, 2, 3, 4 and 5
[#702] A person can not act as a managing director of more than how many company/companies at a time?
Correct Answer
(B) Two
[#703] Time limit for disposal of first appeal by the first Appellate Authority is
Correct Answer
(B) 30-45 days
[#704] Match the following. List-I List-II a. Patent 1. Berne convention b. Trademark 2. Paris convention c. Copyright 3. Madrid
Correct Answer
(B) a-2, b-3, c-1
[#705] The Companies Act, 2013 requires that every company shall have a minimum number of 3 directors in the case of a public company, two directors in the case of a private company, and one director in the case of a One Person Company according to:
Correct Answer
(A) Section 149 (1)