Question
The Board of Directors of a company need approval at the
company general meeting for contribution, to bona fide charitable and other funds, exceeding _________________ of its average net profits for the three immediately preceding financial years.Solution
Under section 181 of the Companies Act, the Board of Directors of a company may contribute to bona fide charitable and other funds; for contributions exceeding 5% of its average net profits for the three immediately preceding financial years, approval at company general meeting is required.
In this question, there are two Statements (A) and (B). These Statements may either be independent causes or effects of independent cause or a common c...
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Statement:Â Â Although the tribal women are familiar with beekeeping, their conventional method does not guarantee adequate returns.
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