Question
Which of the following statements does not represent a
true characteristic of a company under the Companies Act, 2013?Solution
A company, once incorporated under the Companies Act, 2013 (or earlier laws such as the Companies Act, 1956), acquires certain defining features: • It is an incorporated association, formed through registration. • It is considered an artificial person created by law, capable of holding property, entering into contracts, and suing or being sued. • It has a separate legal entity distinct from its shareholders. • It enjoys perpetual succession, meaning the death, insolvency, or exit of members does not affect its continuity. However, the idea of a “limited life span” is not a feature of a company, since companies continue to exist until legally wound up.
In a normal distribution, what percentage of observations lie within one standard deviation of the mean?
As per the guidelines of the Basel Committee for Banking Supervision (BCBS), credit losses on stage 1 assets will be categorised as _______ provisions a...
What new regulatory framework did SEBI introduce to redefine market capitalization computation for listed companies?
Which of the following statements is/are correct regarding Securities and Exchange Board of India (SEBI)?
1)SEBI is the regulatory body for capit...
According to the Union Budget 2023-24, consider the following statements regarding Cooperation:Â
1. New co-operatives that commenc...
The company reported:
• Purchase of Fixed Assets = ₹4,00,000
• Sale of Machinery = ₹1,50,000 (Book Value ₹1,20,000)
• P...
The treasury department have evolved in importance over number of years, which of the following is not a function of treasury department:
A loan is classified as 'doubtful' when it remains NPA for:
Under the Simplified Turnover Method, what percentage of the projected annual turnover is typically used to calculate the working capital requirement?
Under RBI norms, a borrower is considered wilful defaulter if:
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