Questions with checkbox options answers is all(tick all options)

1. Self Help Groups are registered association- false 2. 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 ---- true 4. The shareholders of a company are personally liable for the debts of the company --- false 5. 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 persons known as --- Beneficiaries 7. The two major types of companies are Public and Private limited Companies true 8. According to Companies Act the Board of meeting should conduct atleast --------------times in a year---- 4 9. 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 company 10. The certificate of commencement of business is required for both Public limited and Private Limited Companies --- false 11. 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 --- TRUE 13. Any change in office bearer or in the operation of the account has to be supported by a fresh resolution--- true 14. The mode of election of the president, treasurer, secretary and other office bearers of the society defines in ---- The Bye laws of Society 15. The responsibility cast on the bank in the case of the account of a Trust is ---onerous 16. 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 trust 18. Who creates the Trusts --- authors 19. In the case of Banks, the RBI has directed that the Board should meet atleast ------------- times a year---- 10 20. In a Joint stock companies the director is elected by the---- Shareholder 21. Public trust is formed for the benefit of --------------at large --- Society 22. AGM stands for ----Annual General Meeting 23. The directors, having only limited powers to influence the day-to-day management of the company ---- true 24. 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

25. Liquidators have power to borrow money against the properties of the company --- true 26. People dealing with the company cannot proceed against the company for any --------------transactions entered in to with the company ---- Ultravires 27. Who cannot open Savings account according to RBI----- all 28. 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 shareholders such as --- all 30. Shares cannot be transferred to third parties without the consent of other shareholders in case of --- Private limited companies 31. Minimum members in Self help groups are --- 20 32. Other societies should be registered with --- Registrar of Assurances 33. 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 Meeting 34. The cheques and instructions have to be signed by the authorized signatories behalf of the company 35. Maximum members excluding employees and ex-employees in Private Limited Company is --50 36. SHG stands for --- self help groups 37. What account can be opened for government departments, bodies, and companies --- current 38. Shareholders can inspect certain records of the company by giving notice to the --- The Secretary of the company 39. Registration of Co-operative societies is --- Compulsory 40. Private Limited Companies can invite subscription from the public to shares/ debentures. --true 41. Bank accounts can be opened only for --------------societies and associations ---- Registered 42. Banks open accounts of SHGs to help the poor members --- true 43. 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 --- trustees 45. 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 Development 47. The documents have to be obtained by the Bank before opening an account for a company ALL 48. Who has to prescribe model documents for lending money to SHGs NABARD 49. 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 shares 51. The procedure to be followed for opening the account of a club will depend upon its constitution 52. Shareholders can also inspect certain records of the company, which are specified in companies Act 53. The Companies Act, 1956 has specified matters which need to be approved by the shareholders such as ALL 54. The cheques and instructions have to be signed by the authorized signatories on behalf of company 55. The Trust deed specifies ALL 56. The directors, having only limited powers to influence the day-to-day management of the company---true

57. clubs may be run as abusiness or as a not-for-profit entity TRUE 58. 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 in continuing 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 -> False 60. minimum numbers in SHG is 20 61. currents acccounts can be opened for government departs,bodies and companies 62. Trust has two types private and public True 63. All cheques and instructions have to signes by authorized signatories on ->>behalf of the company 64. public limited company 7 members minimum 65. Name of the private company as Privat Ltd 66. Two major types of companies are private and public limited companies 67. 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 obtained 68. The document that specifies the objectives of the trust is---- trust deed 69. 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 shareholdersAGM 70. Maximum members excluding employees and ex-employees of Private Limited Companies are 50 71. If the Joint stock company becomes insolvent ,the shareholders will lose---only the capital they have contributed 72. The Association of persons registered for Co-operative Societies should be---more than 20 73. Minimum number of directors in Public Limited Companies are3 74. The basic document is a letter issued by the Head of the Department or Office, specifying ---all 75. Trust can be Private Trust and Public trust---true 76. Clubs may be run as a business or as a not-for-profit entitytrue 77. 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 and should not allow the Trustees to ---all 79. Government Departments/Bodies/Agencies can open savings account provided they satisfy the following conditions---all 80. What document defines objectives and powers of the company--Articles of Association 81. 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