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CMA Inter – Laws & Ethics (New Syllabus) – MCQs

CMA Intermediate Exams

Multiple Choice Questions and Answers - Past Years

Companies Act, 2013 - Past Years Multiple Choice Questions & Answers (MCQs)

1) As per section 3 of the Companies Act, 2013 the one person company is a
a) small company
b) public limited company
c) private limited company
d) section 8 company

2) In case of a private company, mention the number of members personally present to form the quorum of a meeting of the company.
a) One member
b) Two members
c) Three members
d) Four members

3) Which of the following is not a valid medium of sending notice to all shareholders?
a) By registered post or speed post
b) Through public advertisement
c) Through registered email-id
d) Through courier service

4) If any default is made in filing refund of money, the company and every officer, who is in default shall be liable to a penalty maximum up to
a) Rs. 50,000
b) Rs. 75,000
c) Rs. 1,00,000
d) Rs. 1,25,000

5) The annual return of an OPC shall be signed by the company secretary or where there is no company secretary, by the
a) Senior executive of the company
b) Auditor of the company
c) Director of the company
d) Advocate of the company

6) If there is any mis-statement in the prospectus then it would attract the liability on
a) The printer
b) The issuer
c) The publisher
d) The proof-reader

7) Every company limited by shares shall keep and maintain the Register of Members in Form No.
a) MGT-1
b) MGT-3
c) MGT-7
d) MGT-12

8) Which one cannot be transacted through postal ballot?
a) Appointment of auditor
b) Election of a Director
c) Buy back of shares by a company
d) Change in place of registered office outside the local limits of any city, town or village

9) The appointment of an independent director shall be approved by the
a) Board meeting
b) General meeting
c) Registrar of Companies
d) Central Government

10) The sweat equity shares shall be locked in for a period of _____ years from the date of allotment.
a) One
b) Two
c) Three
d) Four

11) Which of the following is not a category of company?
a) Inactive company
b) Assistant company
c) Dormant company
d) Producer company

12) Section 92 of the Companies Act, 2013 requires a company to prepare and file annual return in form no.
a) MGT-12
b) INC-23
c) MGT-7
d) SH-10

13) An instrument of the proxy shall be deposited with the registered office of the company within _____ before the conduct of the meeting.
a) 7 hours
b) 21 hours
c) 48 hours
d) 60 hours

14) If a company does not have a common seal, the share certificate shall be signed by
a) Two Directors if company not having Company Secretary
b) One Director and Company Secretary if company having Company Secretary
c) Two Directors and Company Secretary
d) a & b

15) In case of e-voting, notice shall be sent as attachment in
a) PDF file
b) Word file
c) Excel file
d) Access file

16) A Director may be elected by small shareholders upon a notice by
a) not less than 1000 small shareholders.
b) one tenth of the total number of shareholders.
c) not less than 1000 small shareholders or one tenth of such shareholders, whichever is lower.
d) one tenth of 1000 small shareholders

17) Intimation of the reconstitution of change in a registered partnership is to be given to the Registrar of firms:
a) No time limit
b) Within 30 days
c) Within 60 days
d) Within 90 days

18) Which one of the following is not correct?
a) The articles of the company shall provide for the appointment of Chairman in a meeting.
b) The members personally present at the meeting shall elect one of themselves to be Chairman on a show of hands, if the article does not provide for the same.
c) Managing Director is the Chairman of the meeting.
d) The member selected as Chairman as a result of poll, continue the Chairman, who is elected by show of hands.

19) Businessmen or industrialists take initiative to form new companies. Their main function is to manage the company after its promotion, they are known as
a) Particular Promoters
b) Occasional Promoters
c) Professional Promoters
d) General Promoters

20) The meaning of the term ultra vires is simply
a) within (their) power
b) beyond (their) power
c) with (their) power
d) without (their) power

21) An application along with the fee is filed with the Regional Director for shifting of the registered office within the same state in
a) Form No. INC 22
b) Form No. INC 23
c) Form No. INC 26
d) Form No. INC 28

22) The remuneration payable to directors, who are neither Managing Directors nor Whole Time Directors shall not exceed
a) 1% of the net profits
b) 2% of the net profits
c) 3% of the net profits
d) 5% of the net profits

23) The annual return of an OPC shall be signed by
a) the company secretary
b) the director
c) the chief accountant
d) the auditor

24) The minimum age limit for appointment of managing director and the whole time director is
a) 18 years
b) 21 years
c) 25 years
d) 30 years

25) A company cannot remove a director appointed
a) at the annual general meeting
b) at the extra ordinary general meeting
c) by the promoter
d) by the tribunal

26) Which one of the following is not correct in regard to share certificate?
a) The company secretary shall issue the share certificate;
b) The share certificate shall be issued in pursuance of a resolution of the board;
c) Every share certificate shall be distinguished to its distinctive number;
d) The shares may be in the dematerialized form.

27) At every AGM, not less than ________of the total number of directors shall retire /leave by rotation.
a) One third;
b) Two third;
c) Three fourth;
d) Half.

28) An independent director appointment shall be approved by the –
a) Board meeting
b) General meeting
c) Registrar of companies
d) Central government

29) Which one the following not a method of voting?
a) Voting by show of hands
b) Voting through electric means
c) Voting by poll
d) None of the above

30) After buy back a company shall not make a further issue of shares within a period of _______.
a) 12 months.
b) 6 months.
c) 3 months.
d) 9 months.

31) The application for condonation of delay shall be made in form No. .
a) CHG-1
b) CHG-2
c) CHG-3
d) CHG-4

32) The quorum for the Annual General Meeting for a public company having the number of members more than 5000 is _______.
a) 2
b) 15
c) 30
d) None of the above

33) Which of the following is a method for voting?
a) Voting by show of hands
b) Voting through electronic means
c) Voting by poll
d) All of the above

34) The minimum age prescribed for the appointment of a Managing Director is ________ .
a) 18 years
b) 21 years
c) 30 years
d) 70 years

35) At every AGM, not less than _______ of the total number of directors shall retire by rotation.
a) One third
b) Two third
c) Three fourths
d) Half

36) Bonus Shares may be issued out of the-
a) Free Reserves
b) Securities Premium account
c) Capital Redemption Reserve account
d) Any of the above

37) The minimum number of directors for a public company is-
a) 1
b) 2
c) 3
d) 7

38) The appointment of an independent director shall be approved by the-
a) Board Meeting
b) General Meeting
c) Registrar of Companies
d) Central Government

39) No independent director shall hold office for more than _______ consecutive terms.
a) 2
b) 3
c) 4
d) 5

40) If a company does not have a common seal, the share certificate shall be signed by-
a) Two directors
b) One director and Company Secretary
c) Either (a) or (b)
d) None of the above

41) After buy back a company shall not make a further issue of shares within a period of _______.
a) 12 months.
b) 6 months.
c) 3 months.
d) 9 months.

Indian Contract Act, 1872 - Past Years Multiple Choice Questions & Answers (MCQs)

1) A person, who is usually of unsound mind, but occasionally of sound mind, may make a contract when he is of
a) unsound mind
b) sound mind
c) fresh mind
d) cool mind

2) A person is said to be of sound mind for the purposes of making a contract if, at the time when he makes it, he is capable of
a) listening it
b) hearing it
c) understanding it
d) interpreting it

3) Ankit agrees to pay Bina Rs.1500 if it rains today, otherwise Bina pays Ankit Rs. 2000. This is a
a) Gambling
b) Wagering agreement
c) Valid agreement
d) Speculation

4) Anu threatens to kidnap Binu’s daughter if she does not sell her house worth Rs. 90 Lakh to her for Rs. 20 Lakh. This Contract is void due to
a) inadequacy of Consideration
b) absence of Free Consent
c) incompetence of Parties
d) None of the above

5) An agreement which is enforceable at the option of one or more parties thereto but not at the option of other or others is called
a) Void contract.
b) Voidable contract.
c) Void agreement.
d) Unenforceable contract.

6) Which of the following agency is irrevocable under The Indian Contract Act, 1872?
a) Agency for fixed period
b) Agency for single transaction
c) Agency coupled with interest
d) Continuing agency

7) Which one of the following is not the discharge by operation of law?
a) By merger;
b) By insolvency;
c) By breach of contract;
d) By the unauthorized alteration of items of a written document.

8) The breach of contract may be –
a) Actual
b) Anticipatory
c) Either of the above
d) None of the above

9) A person may not become an agent-
a) If he is of the age of maturity;
b) If he is of unsound mind;
c) Either of the above;
d) None of the above.

10) A proposal for a commercial transaction can be accepted
a) By notice of acceptance
b) By performance of condition of proposal
c) By acceptance of consideration for a reciprocal promise
d) All of the above

11) Competency to contract relates to
a) Age of parties
b) Soundness of mind of the parties
c) Both age and soundness of mind
d) Intelligence of the parties

12) The term ‘sub-agent’ in the business of agency is defined as a person employed by, and acting under the control of the
a) Principal
b) Original agent
c) Lawyer
d) Third person

13) Goods displayed in a shop with a price tag is an .
a) offer
b) invitation to offer
c) counter offer
d) None of the above

14) Which of the following is an invitation for offer?
a) A tender to supply goods at a certain time
b) A request for a loan
c) Bids in an auction sale
d) A catalogue of goods for sale

15) A invites B for his son’s wedding. B accepts the invitation. In this case, there is an agreement but no contract since.
a) There is no consideration.
b) There is no intention to create legal relationship.
c) There is no written document.
d) There is no formal acceptance of the offer.

16) If P makes an agreement with Q, an artist, to paint a portrait of P for ? 2,000 and Q use his own canvas & paint. Here it is
a) Contract of Sale
b) Contract of work and material.
c) Sale on approval
d) Hire Purchase agreement.

17) A contract is a combination of
a) Agreement and free consent
b) agreement and consideration
c) agreement and enforceability
d) agreement and competence of parties

18) A proposal may be revoked at any time before
a) the communication of acceptance
b) the payment of consideration
c) signing the agreement
d) execution of the proposal

19) Which one of the following is not the discharge by operation of law?
a) By merger
b) By insolvency
c) By breach of contract
d) By the unauthorized alteration of items of a written document

20) Which of these are sources of Indian Contract Act?
a) Law framed by East India Company
b) American Mercantile Law
c) Vedas and Puranas
d) English Mercantile Laws

21) If the Act has been done before any promise is made, it is called
a) present consideration
b) past consideration
c) future consideration
d) executory consideration

22) The main feature of e-contract is
a) Cost and acceptability
b) Purity and clarity
c) Speedy, accurate and reliable
d) Perfection and attractive

Sales of Goods Act - Past Years Multiple Choice Questions & Answers (MCQs)

1) ‘Future good’ is the goods to be manufactured or produced or acquired by the seller after
a) starting of the business
b) beginning of the financial year
c) making of the contract of sale
d) receiving of the supply order

2) Where goods are delivered to the buyer and he refuses to accept them, the buyer is not bound to
a) retain them with him.
b) look-after the goods.
c) return them to the seller.
d) store them in his godown.

3) Which of the following is not an unpaid seller’s right against the goods?
a) The right of retention
b) The right of stoppage in transit
c) The right of seeking claim for damage
d) The right of resale

4) Where seller delivers to the buyer a quantity of goods less than the contracted to sell, the buyer
a) May reject them
b) Should not reject them as more quantity might be supplied.
c) May resell them.
d) Give less price for them.

5) Which of the followings are not Goods as per Sale of Goods Act?
a) Actionable claims
b) Stock and shares
c) Growing crops
d) Grass of things attached to earth

6) In a Breach of Condition in a contract of sale, the buyer
a) cannot refuse to accept the goods
b) has to pay the price
c) can claim any damages
d) can refuse to accept the goods

7) Which one of the following is correct in regard to risk with property?
a) Risk is involved on both the seller and the buyer;
b) Where the delivery has been delayed through the fault of either buyer or seller, the goods are at the risk of the party in fault;
c) Both (a) and (b);
d) None of the above.

8) The Latin Maxim “Nemo Dat Quod non Habet” means
a) no man can pass a better title than he has
b) let the Buyer beware
c) no consideration – No contract
d) ignorance of law is no excuse

9) A sort of tacit understanding/agreement among the intending bidders to stifle competition by not bidding against each other in an auction sale is called as
a) Damping
b) Knock-out agreement
c) Puffers
d) By-bidders

10) Which of the following situation indicates that the goods are still in transit?
a) If the buyer or his agents obtains delivery of the goods before their arrival at the appointed destination;
b) Where the earlier or other bailee wrongfully refuses to deliver the goods to the buyer or his agents in that behalf;
c) If the goods are rejected by the buyer and the carrier or other bailee continues in possession of them;
d) Where the carrier or other bailee wrongfully refuses to deliver the goods to the buyer or his agents in that behalf.

Ethics - Past Years Multiple Choice Questions & Answers (MCQs)

1) Ethics are the set of moral principles that guide a person’s
a) Behaviour
b) Philosophy
c) Religion
d) Profession

2) The following is the disadvantage of business ethics:
a) Through increasing morale and trust business can increase their market share
b) Publicity due to well and ethical performance
c) Acceptance of products of the company by the public
d) Diversity in achievements

3) A proper foundation of ethics requires a standard of _____ to which all goals and actions can be compared to.
a) value
b) living
c) life
d) speech

4) Meta ethics deal with the nature of .
a) external influences
b) moral judgement
c) material facts
d) animal rights

5) Law is the _________ of ethics.
a) No connection
b) decertification
c) codification
d) visualization

6) Which of the following threat may not affect the business environment and influence finance and accounting professionals?
a) Self-actualization
b) Self Interest
c) Advocacy
d) Self-Review

7) Business ethics calls for avoidance of
a) Competition
b) Publicity
c) Monopoly
d) Self-interest

8) Business ethics has an ________ application.
a) Universal
b) Natural
c) Practical
d) Physical

9) Ethics is a set of _____ of human conduct that govern the behaviour of individuals or organizations.
a) principles
b) standards
c) principles or standards
d) None of the above

10) European business schools adopted business ethics after_________ commencing with the European Business Ethics Network (EBEN) in ________ when the first single authored books in the field appeared.
a) 1987, 1982
b) 1980. 1982
c) 1982,1980
d) 1977, 1984

11) __________ is a set of principles and expectations that are considered binding on any person who is member of a particular group.
a) Code of conduct
b) Code of ethics
c) Code of practice
d) All of the above

12) Which of the following statements about business ethics is true?
a) It concerns the impact of a business’s activities on society.
b) It refers to principles and standards that determine acceptable behaviour in business organizations.
c) It relates to an individual’s values and moral standards and the resulting business decisions he or she makes.
d) What is ethical is determined by the public, government regulators, interest groups, competitors, and each individual’s personal moral values.

13) The study of ethics can be divided into four operational areas namely meta ethics, normative ethics, descriptive ethics and
a) Positive ethics
b) Physical ethics
c) Applied ethics
d) Natural ethics

14) The relationship between laws and ethics is:
a) Complex
b) Simple
c) Inexplicable
d) None of the above

15) Ethics are the set of moral principles that guide a person’s _________.
a) Behaviour
b) Philosophy
c) Religion
d) Profession

16) Many laws are ________ to ethics of time.
a) Complimentary
b) Supplementary
c) Representative
d) None of the above

17) The seven principles of public life were set out by Lord Nolan for the first time in the year
a) 1975
b) 1985
c) 1995
d) 1999

18) Moral management requires ethical
a) producer
b) leadership
c) market
d) customer

19) Value chain as a strategic framework for analysis of competitive advantage was promoted by
a) Peter Drucker
b) F. W. Taylor
c) Michael Porter
d) Tom Peters

20) Who was the Chairman of Turnbull Committee?
a) Angel Turnbull
b) Nigel Turnbull
c) Michael Turnbull
d) William Turnbull

21) Which of the following is suggesting that one person should not occupy the role of Chairman and Chief Executive of a public listed company?
a) The Hampel Committee Report, 1998
b) The Cadbury Committee Report, 1992
c) The Greenbury Committee Report, 1995
d) The Higgs Report, 2003

22) Pick the odd one. It is UNCOMMON for business to behave ethically because
a) it has to meet stockholder expectations.
b) it has to ignore their employees’ relations.
c) to build trust with shareholders.
d) All of the above

23) When a professional promotes a position or opinion to such extent that some objectivity may have to be compromised, this threat is known as
a) Familiarity threat
b) Objectivity threat
c) Advocacy threat
d) Intimidation threat

24) Law gives us a certain right because all humans are born .
a) Equal
b) Unequal
c) Subordinate
d) None of the above

Negotiable Instruments Act, 1881 - Past Years Multiple Choice Questions & Answers (MCQs)

1) Which of the following is a method of discharge from liability?
a) By endorsement
b) By promising
c) By cancellation
d) By registration

2) Which of these is not a negotiable instrument as per the Negotiable Instrument Act, 1881?
a) Bill of exchange
b) Delivery note
c) Bearer cheque
d) Share certificate

3) According to Section 9 of The Negotiable Instrument Act,1881 Holder in due course means any person-
a) Drawing the instrument;
b) Who for consideration became the possession of a Negotiable Instrument;
c) Named in the instrument to whom or to whom order the money is directed to be paid;
d) None of the above.

4) Holder in due course means any person
a) Drawing the instrument.
b) Who for consideration become the possession of a promissory note.
c) Named in the instrument to whom or to whom order the money is directed to be paid.
d) None of the above

5) The first endorsement of an instrument can be made by the
a) Banker
b) Payee
c) Holder in due course
d) Agent

6) Where the endorser does not want that the endorsee or any other holder to incur any expense on his account is called
a) Restrictive endorsement
b) Sans frais endorsement
c) Conditional endorsement
d) Unwanted endorsement

7) Writing of a person’s name on the face or back of an instrument or on a slip of paper attached to it is known as
a) Endorsement
b) Transfer
c) Negotiation
d) Transmission

8) A bearer instrument is negotiated by
a) Delivery
b) Delivery and endorsement
c) Endorsement
d) Stamping and attestation

9) As per the RBI Act, which of the following negotiable Instruments can be payable to the bearer on demand?
a) Cheque
b) Hundi
c) Bank Draft
d) Promissory Note

10) When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the
a) Preceding day
b) Next preceding business day
c) Same day of next week
d) 3rd day following the day holiday

11) When an instrument is drawn conditionally or for a special purpose as a collateral security and not for the purpose of transferring property therein, it is called
a) Ambiguous
b) Inchoate
c) Escrow
d) Inland

12) Which one of the following is a bill of exchange?
a) A banker’s draft
b) A demand draft
c) An order issued by a district board engineer on government treasure for payment to or order of certain person
d) All of the above

13) Which one of the following is not the element of draft?
a) It cannot be drawn on private individual;
b) It cannot be countermanded easily;
c) It is open to the person to stop payment;
d) The bank undertakes the liability which it is bound to discharge in whose

Factories Act, 1948 - Past Years Multiple Choice Questions & Answers (MCQs)

1) No female child shall be allowed to work in any factory except between
a) 8 AM to 7 PM
b) 6 AM to 6 PM
c) 6 AM to 7 PM
d) 10 AM to 5 PM

2) A person who has ultimate control over the affairs of the factory under factories Act, 1948 is called as
a) Occupier
b) Manager
c) Chairman
d) Managing Director

3) Occupier of every factory shall provide and maintain suitable room or rooms for the use of the children under the age of six years of women workers where the number of such women workers exceed
a) 20
b) 50
c) 30
d) 150

4) A factory in Himachal has painted its walls, partitions, ceilings, staircases etc. with washable water paint, they need to be repainted in every period of __________ and washed at least once in every period of _______.
a) three years; one month
b) three years; three months
c) three years; six months
d) three years; nine months

5) The term factory used in the payment of Wages Act, 1936 has the same meaning as in ___________.
a) Industrial Dispute Act
b) The Companies Act
c) Equal Remuneration Act
d) Section 2(m) of the Factories Act, 1948

6) Which one of the following amounts to safety measure under Factories Act, 1948?
a) Artificial Humidification
b) Ventilation
c) Fencing of factory
d) First aid appliances

7) The age of an adolescent worker under Factories Act, 1948 is-
a) 10 years
b) 14 years
c) 18 years
d) 21 years

8) Certificate of fitness to be young worker is to be granted by –
a) Occupier of the factory
b) Inspector of the factory
c) Certifying surgeon
d) None of the above

9) Compensatory holidays are to be availed of within ______ under Factories Act, 1948.
a) 3 months
b) 2 months
c) 6 months
d) 4 months

10) No child shall be allowed to work in a factory unless he has completed his
a) 12th year
b) 14th year
c) 16th year
d) 18th year

11) First aid boxes or cupboard equipped with prescribed contents and not less than one in number must be provided and maintained in every factory so as to be accessible during all working hours for every
a) 200 workers for any time
b) 150 workers for any time
c) 500 workers for any time
d) 30 workers for any time

12) Every occupier shall ensure, so far as is reasonably practicable, the health, safety and welfare of all workers while they are
a) under the employment
b) drawing the pension
c) on unauthorized leave
d) at work in the factory

13) Who will not be considered as an employee?
a) Canteen workers
b) Casual workers
c) Partners
d) Part time employee

14) White wash or color wash should be carried out at least once in every period of
a) 14 months
b) 24 months
c) 48 months
d) 60 months

15) Which one of the following amounts to safety measure?
a) Artificial humidification
b) Ventilation
c) Fencing of machinery
d) First aid appliances

16) Which Committee is constituted by the occupier to promote cooperation between the workers and management in maintaining proper safety and health at workplace?
a) Safety Committee
b) Health Committee
c) Management Workers Consultative Committee
d) Maintenance Committee

17) Which shall be deemed to be absent by an employed person?
a) Refusing to work;
b) Not participating in work;
c) None of the above;
d) Either (a) or (b).

Payment of Gratuity Act, 1972- Past Years Multiple Choice Questions & Answers (MCQs)

1) Gratuity is calculated on the basis of the continuous service rendered by the employee, for every completed year of service or part in excess of
a) three months
b) six months
c) nine months
d) eleven months

2) The amount of gratuity payable to an employee shall not exceed
a) Ten months’ pay
b) Twelve months’ pay
c) Twenty months’ pay
d) Twenty-five months’ pay

3) Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than
a) three years
b) five years
c) seven years
d) ten years

4) Gratuity is payable to an employee after he has rendered continuous service for not less than five years on his
a) transfer
b) daughter’s marriage
c) re-employment
d) resignation

5) Which one of the following will not be included in the definition of wages under Payment of Gratuity Act, 1972?
a) Dearness Allowance
b) Overtime
c) Cash value for consideration
d) All of the above

6) The employer shall display an abstract of the Payment of Gratuity Act and rules in form no.
a) U
b) H
c) B
d) N

Employee State Insurance Act, 1948 - Past Years Multiple Choice Questions & Answers (MCQs)

1) The Employees’ State Insurance Corporation is
a) Hindu Undivided Family
b) Local Authority
c) Charitable Institution
d) Body Corporate

2) Under Employee’s State Insurance Act, 1948, the term of the office of the members of Medical Benefit Council shall be
a) 2 Years
b) 4 Years
c) 5 Years
d) 10 Years

3) The term ‘family’ as defined in ESI Act, 1948 does not include
a) a spouse
b) a minor adopted child
c) a dependent unmarried daughter
d) an independent married sister

4) Who is an insurable employee under ESI Act, 1948?
a) Workers in mines subject to Mines Act, 1952 [Sec 2(12)]
b) Workers in a railway running shed [Sec 2(12)]
c) Any member of [the Indian] naval, military or air forces [Sec 2(9)]
d) All employees in factories or establishments to which this act applies

5) ESI Fund consists of-
a) Contribution
b) Grants from governments
c) Donations
d) All of the above.

Indian Partnership Act- Past Years Multiple Choice Questions & Answers (MCQs)

1) X, Y AND Z are partners in a firm. X, without the authority of Y and Z buys certain shares in his name out of partnership money. These shares will constitute.
a) Partnership liability
b) Partnership property
c) Partnership net worth
d) Partnership capital

2) The provisions regarding maximum number of members in a partnership are given in
a) The Partnership Act
b) The Companies Act
c) The Societies Registration Act
d) The Co-operative Societies Act

3) X and Y agree to divide the profits of a business in equal shares but the loss if any is to be borne by X only. The partnership agreement is
a) void
b) voidable
c) lawful
d) illegal

4) The reconstitution of change in a registered partnership is to be Intimated to the Registrar of firms-
a) No time limit;
b) Within 30 days;
c) Within 60 days;
d) Within 90 days.

5) Anusua and Shrita formed a partnership to undertake a construction of a shopping complex in New Delhi. This partnership is called
a) Partnership at will
b) Particular partnership
c) Unlimited partnership
d) Partnership with undefined mission

6) When a partnership firm is continued even after the expiry of fixed term, it is called
a) Partnership at Will
b) Perpetual Partnership
c) Fixed Partnership
d) Particular Partnership

7) Which of the following is not to be taken care while admitting a new partner?
a) Computation of new profit-sharing ratio and sacrifice ratio
b) Accounting treatment of goodwill
c) Professional qualification of admitting partner
d) Revaluation of assets and liabilities

8) The liability of the partners will continue for the acts done before the dissolution, even after the dissolution, until
a) Public notice is given of the dissolution
b) Partners are getting the final payment
c) Claim is demanded by the creditors
d) The death of partners

9) Which of the following is not the mode of dissolution of a firm under voluntary dissolution?
a) Dissolution by agreement
b) Dissolution on the happenings of certain contingencies
c) Dissolution on becoming a partner of unsound mind
d) Compulsory dissolution

Limited Liability Partnership Act, 2008 - Past Years Multiple Choice Questions & Answers (MCQs)

1) Any limited liability partnership (LLP) may change its name by following the procedure as laid down in
a) The Partnership Act
b) The Rules for LLP
c) The Form No. 5
d) The LLP Agreement

2) Every LLP firm shall have at least _____ designated partners who are individuals.
a) two
b) three
c) four
d) Five

3) Which one of the following documents is required to be kept/ retained for more than 5 years?
a) Copies of Government order relating to LLP;
b) All papers, registers, refund orders and correspondence relating to the LLP liquidation accounts;
c) Copies of statistical returns furnished to Government;
d) Annual return of a LLP.

4) A compromise or arrangement may be proposed –
a) Between a LLP and its partners
b) Between a LLP and its creditors
c) Either (a) or (b)
d) None of the above

5) A partner may contribute to the LLP
a) tangible or intangible property.
b) moveable or immoveable property.
c) money, promissory note etc.
d) Any of the above

Best CS Executive Setting up of Business, Industrial and Labour Laws Video Lectures & Live Classes by Jagdeep Arora Sir

Why to prefer Jagdeep Sir’s CS Executive SBIL Lectures

  • Jagdeep Arora Sir’s Video Lectures for SBILL Subject are considered one of the most detailed Video Lectures in India.
  • With Video Lectures all Past Years Questions and Answers & MCQs are provided so a student can cover the syllabus in the best possible manner to clear the exams in the first attempt.
  • He makes the concepts of SBILL very crystal and clear so even an average student can understand the SBILL very easily. 

 

CS Executive Setting up of Business, Industrial and Labour Laws (SBILL) (Group 1 – Paper 3)(New Syllabus)

2,999.003,999.00

Description

COURSE DESCRIPTION – Best & Most Affordable CS Executive Group 1 – SBILL Video Lectures Classes (New Syllabus) by India’s CS Executive Best Law Faculty

  • Language = English / Hindi for CS Executive Group 1 SBILL Lectures (New Syllabus)
  • Complete Conceptual Clarity.
  • Own notes available.
  • Doubt Solving  Facility Available by Whatsapp with weekly doubt sessions on Zoom
  • Past year Important Questions Covered.
  • Student Friendly Teaching Style.
  • Flow Charts and Pictures used for Better Presentation.
  • Syllabus covered – 100% Syllabus issued by The Institute of Company Secretaries of India
  • Questions and Answers of Past Examinations covered for better preparation.
  • Multiple Choice Based Questions and Answers are also provided for Exams preparation.
  • Technical Assistance Available.
  • Hours – 70 – 80 hrs
  • Use of student friendly language.
  • Views= Unlimited Views
  • Hard Copy books will be delivered within 24 hours of placing order

FACULTY DESCRIPTION

  • Setting up of Business, Industrial and Labour Laws (SBILL) subject of CS Executive Group 1 is taught by  Jagdeep Arora Sir (B.Com, CA, CS & CMA). He is considered one of the Best Faculty/Teacher in India for SBILL.
  • Total teaching experience – More than 15 years
  • Focused on the conceptual clarity of topic & real interpretation of a law
  • Creative teaching methodology, lively & real-life examples
  • Numerous Case Studies discussed.

Additional information

Mode

Downloadable Classes, Pen Drive

Validity

12 Months Validity, 18 Months Validity

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CS Executive SBILL (Setting up of Business, Industrial and Labour Laws) Live Online Classes

A Student may also join Live Online Classes for SBILL Subject from Jagdeep Arora Sir. 

To Know the Timing, Charges etc. for Live Online Classes for SBILL Subject, A student may Whatsapp or Call @ 98147-62054

CS Executive Setting up of Business, Industrial and Labour Laws (SBILL) Detailed Syllabaus

CS Executive Setting up of Business, Industrial and Labour Laws (SBILL)

PART I: SETTING UP OF BUSINESS (60 MARKS)

Level of Knowledge: Working Knowledge

1.        Selection of Business Organization:
  • Key features of various Business Organizations and issues in choosing business organization including policy matters, identification of location, tax implications and other relevant aspects
2.          Corporate Entities – Companies: Types of Corporate Business Entities:
  • Private Company l Public Company l One Person Company l Nidhi l Section 8 Company l Producer Company l Foreign
            Drafting of Incorporation Documents:
  • Memorandum of Association and Articles of Association l Incorporation contracts, documents and
            Formation and Registration:
  • Procedural Aspects with regard to Incorporation of corporate entities.
3.          Limited Liability Partnership:
  • Concept of LLP l Formation and Registration l LLP Agreement l Alteration in LLP Agreement l

          Annual and Event Based Compliances.

4.          Startups and its Registration:
  • Start-up India Policy l Registration Process l Benefits and other Government Policies l Different types of capital – Seed Capital l Venture Capital l Private Equity l Angel Investor l Entrepreneurship
  • Case Studies on Unicorn
  1. Micro, Small and Medium Enterprises:
  • Classification of Enterprises l Memorandum l Measures for promotion and development l Udyam Registration Process l NSIC Registration l MSMEs
6.          Conversion of Business Entities:
  • Conversion of private company into public company and vice versa l Conversion of Section 8 company into other kind of Company l Conversion of Company into LLP and vice versa l Conversion of OPC to other type of company and vice versa l Companies authorized to registered under Chapter XXI of the Companies Act,
7.         Non-Corporate Entities:
  • Partnership l Hindu Undivided Family l Sole Proprietorship l Multi State Co-operative Society l Trust and Society l Formation and registration l Partnership Agreement and Trust Deed l Mega
8.          Financial Services Organisation:
  • NBFCs l Housing Finance Company l Asset Reconstruction Company l Micro Finance Institutions (MFIs) l Nidhi l Payment Banks l Mudra Bank l Registration l Chit
9.          Business Collaborations:
  • Foreign Collaborations l Joint Venture l Special Purpose Vehicle
10.         Setting up of Branch Office/ Liaison Office/ Wholly Owned Subsidiary by Foreign Company:
  • Formation and Registration
11.        Setting up of Business outside India and Issues Relating thereto
  • Issues in choosing location l Structure and the processes of incorporation of business entities in UK
  • USA l Canada and
12.         Identifying laws applicable to various Industries and their initial compliances:
  • Compliance of industry specific laws applicable to an entity at the time of setting up of the
13.         Various Initial Registrations and Licenses:
  • Mandatory Registration – PAN/TAN l GST Registration l Shops & Establishments l Additional Registration/License – ESI/PF l Pollution l Other registration as per requirement of sector l IE Code l FSSAI l Telecom l I & B l Industrial License, Industrial Entrepreneurs Memorandum (IEM) l Activities specific approvals/ permissions/licenses l Environmental & Pollution clearances l Sectoral approvals / permissions / licenses l State Level Approval from the respective State Industrial Department

 

                                    PART II: INDUSTRIAL AND LABOUR LAWS (40 MARKS)               
14.         Constitution and Labour Laws:
  • Fundamental rights vis-à-vis labour laws l Equality before law and its application in Labour Laws, Equal pay for equal work l Article-16 and reservation policies l Articles 19, 21, 23 and 24 and its
15.          Evaluation of Labour Legislation and need of Labour Code
16. Law of Welfare & Working Condition:
  • The Factories Act l Contract Labour (Regulation and Abolition) Act l The Child and Adolescent Labour (Prohibition and Regulation) Act
  1. Law of Industrial Relations:
  • Industrial Disputes Act l Industrial Employment (Standing Orders) Act.
18.          Law of Wages:
  • Payment of Wages Act l Minimum Wages Act l Payment of Bonus Act l Equal Remuneration Act.
19.         Social Security Legislations:
  • Employees’ State Insurance Act l Employees’ Provident Funds and Miscellaneous Provisions Act
  • Maternity Benefit Act l The Payment of Gratuity Act l Apprentices Act, The Labour Laws (Simplification of Procedure for furnishing Returns and Maintaining Registers by Certain Establishments)
20.           Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

SBILL- Setting up of Business, Industrial and Labour Laws Paper 2 CS Executive Demo Lectures by Jagdeep Arora Sir

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