7/30/2019 Modified Types Cust. Part 2 Manas

1/3

Questions with checkbox options answersis all(tick all options)

1. Self Help Groups are registered association- false2. Who is responsible for managing the company in accordance with the policies approved by the

Board- - Managing Director 3. In the case of a company there is separation of ownership and management , the company is

managed by Directors ---- true4. The shareholders of a company are personally liable for the debts of the company --- false5. Minimum number of persons in Private Limited Companies are--- 2

6. Trusts are created to carry on some activities for the benefit of a person or a group of personsknown as --- Beneficiaries7. The two major types of companies are Public and Private limited Companies true8. According to Companies Act the Board of meeting should conduct atleast --------------times in a

year---- 49. A company which is owned jointly by a group of persons and has a legal existence separate

from that of the owner is called----- Joint stock company10. The certificate of commencement of business is required for both Public limited and Private

Limited Companies --- false11. The signatures of the authorised signatories have to be obtained in the account opening form

and got verified by the --- Head of the Department

12. The Board has the right to change and appoint new Managing director --- TRUE13. Any change in office bearer or in the operation of the account has to be supported by a freshresolution--- true

14. The mode of election of the president, treasurer, secretary and other office bearers of the societydefines in ---- The Bye laws of Society

15. The responsibility cast on the bank in the case of the account of a Trust is ---onerous16. A company can be formed by the --------------- or the initial share holders registering it with the

-------------------------- under the Companies Act 1956, or by an act passed by the Parliament----Promoters, Registrar of companies

17. Trust formed for the benefit of a specific person or group of persons in a family is ---- pvt trust18. Who creates the Trusts --- authors

19. In the case of Banks, the RBI has directed that the Board should meet atleast ------------- times ayear---- 1020. In a Joint stock companies the director is elected by the---- Shareholder 21. Public trust is formed for the benefit of --------------at large --- Society22. AGM stands for ----Annual General Meeting23. The directors, having only limited powers to influence the day-to-day management of the

company ---- true24. Whom will the court appoint while winding up of the company to sell the assets, recover the

assets due to the company and settle the liabilities of the company --- Liquidator

7/30/2019 Modified Types Cust. Part 2 Manas

2/3

25. Liquidators have power to borrow money against the properties of the company --- true26. People dealing with the company cannot proceed against the company for any

--------------transactions entered in to with the company ---- Ultravires27. Who cannot open Savings account according to RBI----- all28. To start the company ,it has to get the certificate from the Registrar called --- The Certificate of

Commencement of Business

29. The Companies Act, 1956 has specified matters which need to be approved by the shareholderssuch as --- all30. Shares cannot be transferred to third parties without the consent of other shareholders in case of

--- Private limited companies31. Minimum members in Self help groups are --- 2032. Other societies should be registered with --- Registrar of Assurances33. In case of an emergency such as merger or appointment of a new MD, which needs to be

approved by the shareholders, the Board can convene --- Extraordinary General Meeting34. The cheques and instructions have to be signed by the authorized signatories behalf of the

company35. Maximum members excluding employees and ex-employees in Private Limited Company is ---

5036. SHG stands for --- self help groups37. What account can be opened for government departments, bodies, and companies --- current38. Shareholders can inspect certain records of the company by giving notice to the --- The

Secretary of the company39. Registration of Co-operative societies is --- Compulsory40. Private Limited Companies can invite subscription from the public to shares/ debentures. ---

true41. Bank accounts can be opened only for --------------societies and associations ---- Registered42. Banks open accounts of SHGs to help the poor members --- true43. Name of the Private Limited Companies should contain --- The word `Private Ltd`44. Who are appointed by the author of the trust for carrying out the activities of the trust for the

benefit of the beneficiaries --- trustees45. The decisions of the Board are recorded by way of `Resolutions` which are entered in the

->Minutes Book 46. NABARD stands for National Bank for Agricultural and Rural Development47. The documents have to be obtained by the Bank before opening an account for a company ALL48. Who has to prescribe model documents for lending money to SHGs NABARD49. In the case of Banks, the RBI has directed that the Board should meet atleast -----10--------

times a year 50. Capital of a company is divided in to units of equal amounts is called shares51. The procedure to be followed for opening the account of a club will depend upon its

constitution52. Shareholders can also inspect certain records of the company, which are specified in companies

Act53. The Companies Act, 1956 has specified matters which need to be approved by the shareholders

such as ALL54. The cheques and instructions have to be signed by the authorized signatories on behalf of

company55. The Trust deed specifies ALL56. The directors, having only limited powers to influence the day-to-day management of the

company---true

7/30/2019 Modified Types Cust. Part 2 Manas

3/3

57. clubs may be run as abusiness or as a not-for-profit entity TRUE58. Clubs should be registered as -- ALL

On the death or resignation of a trustee, the procedure specified in the trust deed has to be followed incontinuing operation of the account-----yes----account haas to be stopped and fresh resolution of

managing committee obtained before resuming operations-Bank accounts are operated by the Secretary and Treasurer------not individually-The trustees have to record their decisions through resolutions---true-Private Limited Companies can invite subscription from the public to shares/ debentures.-Other societies should be registered with-----Registrar of Assurances.

59. SHG is Registered -> False60. minimum numbers in SHG is 2061. currents acccounts can be opened for government departs,bodies and companies62. Trust has two types private and public True63. All cheques and instructions have to signes by authorized signatories on ->>behalf of the

company64. public limited company 7 members minimum65. Name of the private company as Privat Ltd66. Two major types of companies are private and public limited companies67. In the event of death or resignation of any authorised signatory, operations in the account has to

be----Stopped and fresh resolution of the managing committee obtained68. The document that specifies the objectives of the trust is---- trust deed69. Once in a year the Board has to call all the shareholders called -----------------at which the

accounts of the company has to be presented and got approved by the shareholdersAGM70. Maximum members excluding employees and ex-employees of Private Limited Companies are

5071. If the Joint stock company becomes insolvent ,the shareholders will lose---only the capital they

have contributed72. The Association of persons registered for Co-operative Societies should be---more than 2073. Minimum number of directors in Public Limited Companies are374. The basic document is a letter issued by the Head of the Department or Office, specifying ---all75. Trust can be Private Trust and Public trust---true76. Clubs may be run as a business or as a not-for-profit entitytrue77. Board/Managing Committee/Governing Body resolution should mention mode of operation

with designated powers, list of authorized signatories, acceptance of the terms and conditions complusory

78. The bank has to allow operation strictly in accordance with the provisions of the trust deed andshould not allow the Trustees to ---all

79. Government Departments/Bodies/Agencies can open savings account provided they satisfy thefollowing conditions---all

80. What document defines objectives and powers of the company-- Articles of Association81. Like Partners shareholders can participate in day to day management of the joint stock

company--Shareholders of a company cannot participate in day to day management------------------By K.MANAS CHANDRA