Question
What is the minimum number of directors which a One
Person Company can have?Solution
Explanation: Section 149. Company to have Board of Directors: (1) Every company shall have a Board of Directors consisting of individuals as directors and shall have— (a) a minimum number of three directors in a public company, two directors in a private company, and one director in a One Person Company; and (b) a maximum of fifteen directors, company may appoint more than fifteen directors after passing a special resolution: class or classes of companies as may be prescribed, shall have at least one-woman director.
A trader has current assets of ₹6,00,000, including ₹80,000 cash, ₹1,20,000 accounts receivable, ₹3,00,000 inventory, and ₹1,00,000 marketable...
Deduction in respect of royalty income of authors under Chapter VI is allowed under Section:
Ashutosh is a horse dealer. Tausif approaches Ashutosh for a horse. Ashutosh lends a horse which he knows to be vicious, to Tausif. Ashutosh doesn't dis...
ABC Ltd. reports two inventory items: Item A – Cost ₹10 lakh, NRV ₹12 lakh; Item B – Cost ₹8 lakh, NRV ₹6 lakh. How should inventory be valu...
What does ERP stand for?
Which of the following is an example of how departmentalisation allows for suitable costing methods?
Modigliani-Miller (MM) Approach is based on some assumptions. Which of the following is not an assumption of MM Approach?
Under which section of the Income Tax Act, 1961, can an individual claim a deduction for the payment of Medical/Health Insurance Premium?
Which of the following is NOT a component of an accounting system?
Which of the following is considered as ‘fraud’ under the Indian Contract Act, 1872?
