...Property of the company belongs to a) Company b) Share holders c) Members d) Promoters 2. Which company shares can be freely transferable 3. Private Company b) Public Company c) Both (a) & (b) d) None of the above 4. Minimum number of members in case of public company b) 1 b) 2 c) 5 d) 7 5. Minimum number of members in case of private company is c) 1 b) 2 c) 3 d) 6. Maximum no. of members in case of private company is d) 50 b) 100 c) 150 d) 200 7. Maximum no .of members in case of public company is 1) 0 b) unlimited c) 50 d) 100 8. How many months did the company can continue its business u/s 45 _______ e) 1 b) 2 c) 5 d) 6 9. If minimum subscription is not received application money should be refunded with in ______days 20 b) 25 c) 30 d) 10 10. Liability of a member in case of a private company is f) Limited b) Unlimited c) Both (a) or (b) d) None of the above 11. Maximum no. of persons in case of partnership banking business ______ g) 10 b) 20 c) 30 d) 5 12. Minimum paid up share capital in case of a private company is _______ h) 1 Lakh b) 2 Lakhs c) 3 Lakhs d) 4 Lakhs 13. Minimum paid up share capital in case of a public company is ________ i) 1 Lakh b) 3 Lakhs c) 5 Lakhs d) 7 Lakhs 14. Minimum no. of Directors in case of a public company is __________ j) 1 b) 2 c) 3 d) 4 15. Minimum no. of Directors in case of private company is _______ ...
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...Forms of Business Lurene Flynn Law/531 October 24, 2011 Christine J. Benway, J.D. Instructor Forms of Business Determining the type of business to open is very important in order to know the business form that will be used. Knowing the business structure is important because it determines how the business income will be taxed. This paper will discuss the different forms of business, give examples of each form, and justify why the corresponding business form is preferred. Sole proprietorship according to Cheeseman (2010) is the form of business in which the owner is actually the business: the business is not a separate legal entity (Cheeseman, 2010, p. 530). “An individual starts the business in his or her own name and does not require any special legal organization beyond the normal requirements such as licenses or permits” (Georgia Trend, 2006/2007, p. 34). Beauticians are great examples of a sole proprietorship. Beauty shops are usually owned by one person, while having other people working in them.This type of business form is preferred by beauticians or a plumber because it is easy, no formalities, and most importantly no federal or state government approval is required. According to Cheeseman (2010) the owner has the right to make all management decisions concerning the business, including those involving hiring and firing employees (Cheeseman, 2010, p. 530). A sole proprietor owns all off the business therefore he or she receives...
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...Laws and Governance examination in a separate envelope to your solutions to Section B. Q. 1. The Board of XYZ Ltd. is considering a major diversification of the Company’s activities into a new product/market area. The Board of Directors are aware of the risks of diversification away from the Company’s existing core business and are anxious to limit the resulting risks of such a move. Accordingly, they have decided that a new company, which will be a subsidiary of XYZ Ltd. Should be set up for the purpose of carrying on the new business. The Finance Director of XYZ has been asked by the Board to advise on the funding options for the subsidiary. You are have been asked by the Finance Director to assist in this task. Specifically, you are required to draft a memorandum dealing with the following issues: a) The different types of real non-possessory security interests that are recognised in Irish law. (5 marks) b) The likely terms that a bank will seek to incorporate into any debenture creating a charge over the subsidiary’s undertaking and assets. (5 marks) c) The types of charges that must be registered under Section 99 of the Companies Act 1963. (4 marks) d) The powers that a Receiver appointed out of Court on foot of a debenture might be expected to possess. (5 marks) e) The likelihood of a bank being willing to accept a letter of comfort from XYZ Ltd. in respect of the borrowings of its subsidiary. (5 marks) (1 mark for presentation) Total [25 marks] ...
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... I thought you would usually have an orientation on the 1st day, where people are all nice to you, buy you lunch, make sure you are all settled down, and go for tea break. That was what happened at my SIP. I think once you become an employee, it is very different. Everybody is just so matter-of-fact and after a ½ hour tour around the office and a brief introduction to everyone, I was shown my little cubicle and then work just started!!Anyway, I had to draft a couple of Notices of Resolution. I had forgotten what I studied in TP so had to check up the Companies Act in Singapore Statutes Online. Found out that the resolution under Section 161 is a/an ordinary resolution (need 50% of votes, 14 days’ notice for private companies and 14 days’ notice for public companies) and the resolution to change the name of a company is a/an special resolution (75% of votes, 14 days’ notice for private companies, and 21 days’ for public companies) In...
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...an underlying security at a certain price, a specified quantity at predetermined future time. A share warrant cannot be issued by a private company. A share warrant can be issued only by public limited companies. The holder of the share warrant is entitled to receive dividend as decided by the company. Hybrid perpetual securities: The unique features of these securities are that they are perpetual in nature, with no maturity or redemption, and are callable only at the option of the Company thereby incorporating equity characteristics. (Page 154 and 128 of Tata steel annual report) Bonus issue: Capitalisation of reserves. It involves transfer of reserves and surplus to share capital account. It doesn’t involve cash inflows to the company. The number of shares outstanding increases. There is no change in the wealth of the shareholders effectively. Rights issue: It involves issue of shares to the existing shareholders. It involves cash inflows to the company. Number of shares outstanding also increases. Deferred tax liabilities/assets: (page 156, 179, 192 and 212) Deferred tax liability arises when the tax on accounting income as per the companies act is less than tax as per Income tax. Deferred tax asset arises when the tax on accounting income as per the companies act is more than tax as per Income tax. Ex: Asset value is Rs.6,000 |As per Companies Act |2010 |2011 |2012 |Total | |Sales...
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...Professional Ethical Issues Recently, the general public has become more aware and concerned about the importance of business ethics and organizations are seeking incorporation and alignment of high business ethical standards with their strategy. Even governments have been asked to emphasize on the importance of that matter through legislation in order to assure the integration of ethical standards in business and industries. As an engineer, our advice is sought in order to help implementing business ethical standards among other operational efficiency and business excellence standards to every aspect of the business. Therefore, we are supposed to set the model in dealing ethically at all times. However, some complicated cases are faced in the real engineering world, and the solution is not always obvious and clear cut. Case #1: Consequences Shuttle challenger launches failure: “Many readers are already familiar with some aspects of this case. The space shuttle Challenger was launched in extremely cold weather. During the launch, an O-ring on one of the solid-propellant boosters, made more brittle by the cold, failed. This failure led to the explosion during liftoff. Engineers who had designed this booster had concerns about launching under these cold conditions and recommended that the launch be delayed, but they were overruled by their management (some of whom were trained as engineers), who didn’t feel that there was enough data to support a delay in the launch. The...
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...Objective of the Project Study a company whose stock is traded on the New York Stock Exchange (NYSE) or National Association of Securities Dealers (NASDAQ). Use the company’s public documents and financial statements to learn business information, financial information and investor analysis of the company (e.g., stock prices and ratios.). This will include an analysis of the company’s balance sheet, income statement and statement of cash flows. Due dates are listed above. Your paper will consist of a cover page (name of company, your name, date, and course/section), table of contents and the following sections: Section I. Profile of the Company’s Operations (Minimum 3 pages-word processed in paragraph form. Some information can be presented in table or bullet point format) Research the company’s most recent 10-K and the company’s website to learn the following for Section I of your paper: • State of incorporation. (front page of 10-K) • Type of stock issued, number of shares authorized and issued. • Information about the corporation’s product lines and major competitors (10-K Part I, Item 1) • Business risks. (10-K Part I, Item 1a.) • Number of employees. • Information about the company’s competition. • Summary of the company’s SWOT analysis • Corporate mission statement (company website) • Corporate social responsibility (company website) • Corporate reference to ethics (company website) • History of the company (10-K, website) The best source for a company profile is by reading the...
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...Auditing and Assurance Standards Council Philippine Auditing Practice Statement 1003Ph GUIDANCE IN DEALING WITH REPORTS REQUIRED BY THE SEC RELATING TO INCREASE IN AUTHORIZED CAPITAL STOCK OF A CORPORATION PAPS 1003Ph PHILIPPINE AUDITING PRACTICE STATEMENT 1003Ph GUIDANCE IN DEALING WITH REPORTS REQUIRED BY THE SEC RELATING TO INCREASE IN AUTHORIZED CAPITAL STOCK OF A CORPORATION CONTENTS Paragraph Introduction………………………………………………………………… 1-2 Objective…………………………………………………………………… 3 Types of Engagements that May be Performed…………………………….. 4-14 Acceptance of an Engagement Relating to Increase in Authorized Capital Stock……………………………………………….. 15-16 Defining the Terms of an Engagement to Perform Agreed-Upon Procedures………………………………………………………………. 17-20 Reporting on Agreed-Upon Procedures Engagements……………………… 21-23 Wording of the Auditor’s Representation Letter to Accompany the Agreed-Upon Procedures Report……………………………………. 24-25 Effective Date……………………………………………………………….. 26 Appendix 1: Required SEC Procedures Relating to an Application for Increase in Authorized Capital Stock as Contained in SEC Memorandum Circular No. 6, Series of 2008 Appendix 2: Example Auditor’s Reports on Agreed-Upon Procedures Engagements Appendix 3: Illustrative Auditor’s Representation Letters 2 PAPS 1003Ph Philippine Auditing Practice Statements (PAPS or Statements) are issued by the Auditing Standards and Assurance Council...
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...What are the effect of pre incorporation contrast according to common law and the Malaysian Companies Act 1950? Explain the cases relevant to the aforesaid matter. Introduction Often promoters of companies try to enter into contracts on behalf of proposed corporations in order to secure the contract before the time for incorporation or to confirm the contracts for the corporation before the expense of incorporation is incurred. Normally the promoter does not have any intention of being personally liable on the contracts. In some cases the promoter is aware that the corporation has not been incorporated but the person dealt with is not aware that the corporation has not been incorporated. In other cases neither the promoter nor the person the promoter deals with is aware that the corporation has not been incorporated. In some cases the corporation is never actually incorporated. In other cases the corporation in incorporated and purports to ratify contracts entered into on its behalf before it was incorporated. In some cases the corporation that is purporting to ratify the contract is insolvent. The third party may be left to bear a loss if the promoter is relieved of personal liability and the third party’s claim is solely against the insolvent corporation. The questions that typically arise are whether the promoter can be personally liable on the contract and whether the corporation can ratify the contract. Pre-Incorporation A pre incorporation contract is one which is...
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...LAW/575 Final Exam 1) Which of the following is true regarding state and federal court jurisdiction? A. In all cases, state courts have concurrent jurisdiction with the federal courts. B. Federal courts begin with exclusive jurisdiction until a state court intervenes. C. In all cases, state courts have exclusive jurisdiction unless the state's Supreme Court grants jurisdiction to a federal court in the state. D. In some cases, state courts have exclusive jurisdiction; in some cases, state courts have concurrent jurisdiction with the federal courts. 2) Which of the following is true regarding a sole proprietorship? A. A sole proprietor shares control of the management of the business. B. The sole proprietor keeps a portion of the profits from the business. C. Profits are not taxed as the personal income of the sole proprietor. D. A sole proprietor is personally liable for obligations of the business. 3) Which of the following is a type of ADR? A. Consultation B. Mediation C. Case argument D. Case analysis 4) Which of the following is an extension of negotiation? A. Arbitration B. Minitrials C. Neutral case evaluations D. Mediation 5) Without obtaining advance permission, Annie places an unflattering photograph of the president of the college that she attends on folders that she is selling outside of class for extra money. Which of the following is true? A. Annie has committed defamation of the college president in the form of slander. B. Annie...
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...Total Quality Management Concepts, Evolution and Acceptability in Developing Economies R.R. Lakhe Shri Ramdeobaba Kamla Nehru Engineering College, Nagpur, India, and Total Quality Management 9 Received March 1993 Revised October 1993 R.P. Mohanty National Institute of Industrial Engineering, Bombay, India Introduction In recent years, Total Quality Management (TQM) has received worldwide attention and is being adopted in many industries, particularly in developed economies. TQM has evolved primarily because of the changes in the global economy and also because of demand in market forces. Although control of quality has been practised in many industries for several years, the adoption of TQM as a major preoccupation of businesses worldwide is very recent. The traditional control methods being implemented in industries to ensure quality have not yielded the results that were expected of them. Furthermore, rapidly changing technology and customer expectations have already affected organizations worldwide and thus have promoted the need for taking a new look at quality management. In this study we intend to discuss how TQM can be adopted in organizations that are replacing existing quality control systems to promote competition and growth. Various pioneering researchers have made significant contributions towards the design, development and application of the TQM system. This article takes a synoptic view of the existing state-of-the-art and makes...
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...Fundamentals of Human Resource Management Student’s Name Institution Fundamentals of Human Resource Management True and False: Please mark either T or F in the appropriate space before the question (7 * .25 each = 1.75 points) 1. __T__ Today’s managers have found that employees do not set aside their cultural values and lifestyle preferences when they come to work. The challenge is to make organizations more accommodating to diverse groups of people by addressing different lifestyles, family needs, and work styles. 2. __T__ Work Process Engineering is referred to at times as work process reengineering because it goes beyond incremental change and requires an organization to face the possibility that what the organization may need is radical or quantum change. 3. __F__ Drug testing in today’s organization is conducted not to eliminate illegal substance at the point of hire, but only to catch those using it in the workplace. 4. __F__ Type A behavior is characterized by a procrastinated sense of time urgency, excessively competitive drive, and difficulty accepting and enjoying leisure time. 5. __F__ the purpose of job analysis is ONLY concerned with the amount of money that is paid to the employee for following their job description. 6.__T_ some stress in organizations is absolutely necessary; without it, workers lack energy. 7._T__ Employee assistance programs (EAPS) are specific programs designed to help employees with personal problems. ...
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...Q1 THE ELEMENTS OF A VALID CONTRACT A contract may be defined as an agreement which legally binds the parties. The contracting parties need to meet a number of requirements that are prescribed by the law of contract. These requirements must be met before the agreement creates rights and duties that may be enforceable at law. These requirements are referred to as the elements of a valid contract and consist of the following: Offer A contract is formed when an offer by one party is accepted by the other party. For example, Y offers to make and sell homemade cakes to X for sell in the local shop, and just before any agreement is reached on price, size or quantities X decides not to continue. At this stage, there is no legally binding contract between Y and X because there is no definite offer for X to accept until the essential terms of the bargain have been decided. An offer is not made for just a specific person. It may be made to a one or more, or to the whole country. Acceptance Acceptance occurs when the party answering the offer agrees to the offer, It can be verbal or in writing. Acceptance must be unequivocal and communicated to the offeror it’s not effective until this has been done. There are two requirements to satisfy for valid acceptance to occur: * The offeree must agree to accept the terms of the offer * This information must be communicated to the offeror. Consideration According to pollock "Consideration is the price for which...
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...Question 1 | | 0.25 / 0.25 points | APV = NPV (without expansion option) + Value of the expansion option. | | 1) True | | | 2) False | Question 2 | | 0.25 / 0.25 points | The owner of a professional sports franchise, looking to get a new stadium, would benefit from a put option if the deal falls through. | | 1) True | | | 2) False | Question 3 | | 0.25 / 0.25 points | If you write a put option, you acquire the right to buy stock at a fixed strike price. | | 1) True | | | 2) False | Question 4 | | 0.25 / 0.25 points | Risk-neutral approach is an application of the certainty equivalent method. | | 1) True | | | 2) False | MCQs (Theoritical) (0.25 mark) | Question 5 | | 0 / 0.25 points | Everything else remaining the same, an increase in fixed costs: I) increases the break-even point based on NPV II) increases the accounting break-even point III) decreases the break-even point based on NPV IV) decreases the accounting break-even point | | 1) | I and III only | | | | 2) | III and IV only | | | | 3) | II and III only | | | | 4) | I and II only | | Question 6 | | 0.25 / 0.25 points | The Chief Financial Officer (CFO of a corporation oversees): | | 1) | Treasurer's functions | | | | 2) | Controller's functions | | | | 3) | Both A and B | | | | 4) | None of the above | | Question 7 | | 0.25 / 0.25 points | Costs associated with the conflicts of interest between...
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...000 Investors: ABC Ventures XYZ Capital Type of Security: Series A Convertible Preferred Stock Premoney Valuation: $7,000,000[1] Capital Structure Following Series A Round: Existing holders of Common Stock 55% Option Pool 15%[2] Holders of Series A Preferred Stock 30% Total 100% Use of Proceeds: The Company shall use the proceeds from this financing for working capital purposes. Dividends: The Company will not pay dividends on its shares of Common Stock or any other stock which is junior to the Series A Preferred Stock unless a like dividend is paid on all shares of Series A Preferred Stock on a pro rata “as converted” basis.[3] Conversion: Each share of Series A Preferred Stock shall be convertible, at any time, at the option of the holder, into shares of Common Stock, at an initial conversion ratio of one share of Common Stock for each share of Series A Preferred Stock. Mandatory conversion of the Series A Preferred Stock upon the effectiveness of a registration statement covering a firmly and fully underwritten public offering of Common Stock of the Company by a reputable underwriter acceptable to the Investors at a price which equals or exceeds five times the purchase price per share of the Series A Preferred Stock and where the aggregate gross proceeds received by the Company exceeds $25 million (a “Qualified Public Offering”)[4]...
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