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b. good store-keeping
2. Informal organization is as necessary as formal organization chiefly for the reason that it
a. resists change
b. builds morale
3. After the commencement of the Companies Act, 1956 no person, save as otherwise
provided in Section 276, shall hold office as director at the same time in more than
a. 5 Companies
b. 10 Companies
c. 15 Companies
d. 20 Companies
a. 1, 2 and 3
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b. 1 and 3
c. 1 and 2
d. 2, 3 and 4
List-I List-II
A B C D
a. 1 5 2 3
b. 3 5 2 1
c. 1 4 5 3
d. 3 4 5 1
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5/12/2019----Competitive Exams: Commerce MCQs (Practice Test 7 of 99)- Translation in Hindi, Kannada, Malayalam, Marathi, Punjabi, Sindhi, Sindhi,
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a. 1 and 2
b. 1 and 4
c. 2 and 3
d. 2 and 4
a. Board of Directors
b. Shareholders
c. Company Secretary
d. Registrar of Companies
8. Which one of the following reports should have ‘responsibility statement’ under the
Companies Act, 1956?
a. Auditor's report
a. Sabhanayagam Report
c. Narasimhan Report
d. L C Gupta Report
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5/12/2019----Competitive Exams: Commerce MCQs (Practice Test 7 of 99)- Translation in Hindi, Kannada, Malayalam, Marathi, Punjabi, Sindhi, Sindhi,
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11. As per the Companies Act, 1956, who among the following must be included in the Audit
Committee constituted in a company?
c. Company Secretary V
Managing Director
12. Match List I (Concept relating to company meetings) with List II (Meaning) and select the
correct answer:
List-I List-II
A B C D
a. 5 3 2 1
b. 2 1 4 3
c. 5 1 2 3
d. 2 3 4 1
13. Match List I (Company having paid-up capital more than) with list II (Must have/be a)
and select the correct answer using the codes given below:
List-I List-II
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5/12/2019----Competitive Exams: Commerce MCQs (Practice Test 7 of 99)- Translation in Hindi, Kannada, Malayalam, Marathi, Punjabi, Sindhi, Sindhi,
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A B C D
a. 5 4 3 1
b. 3 4 1 5
c. 5 2 3 1
d. 3 2 1 5
14. Assertion (A): The best way of reporting of social responsibility is to prepare a Value
Added Statement (VAS) to show the income earned by the providers of capital, the
employees and the government.
Reason (R): A business is accountable to the society since it makes use of community-
owned assets such as roads, railways, communication and other infrastructural
facilities and concessions provided by the state from the tax-payers money.
15. Assertion (A): The interest on borrowed funds can be capitalized upto the completion
of fixed assets.
Reason (R): The completion of fixed assets has been possible only because of these
funds.
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5/12/2019----Competitive Exams: Commerce MCQs (Practice Test 7 of 99)- Translation in Hindi, Kannada, Malayalam, Marathi, Punjabi, Sindhi, Sindhi,
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a. Both A and Rare true and R is the correct explanation of A
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