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CA Final Appointment and Remuneration of Managerial Personnel — practice questions — page 2

Explore 62 free Appointment and Remuneration of Managerial Personnel questions in CA Final Law. Open each question or exercise to read its content, reference answers and available explanation.

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Appointment and Remuneration of Managerial Personnel questions and exercises with answers

Showing questions 31–60 of 62.

Under s.197(14), a whole-time director drawing company commission may also draw fromRead the answer and worked solution →Which sum is NOT deducted under s.198(5)?Read the answer and worked solution →Interest on unsecured loans and advances is, in net profits under s.198(4),Read the answer and worked solution →Compensation paid voluntarily, with no legal liability, isRead the answer and worked solution →Profit on sale of a fixed asset earns credit only if the companyRead the answer and worked solution →When accounts are restated for fraud, s.199 requires recovery fromRead the answer and worked solution →Pay recoverable after restatement under s.199 includesRead the answer and worked solution →Which factor must be weighed when fixing pay under s.200 in a loss year?Read the answer and worked solution →Section 200 requires regard to pay the individual draws fromRead the answer and worked solution →Under s.200(d), fixing the pay looks at the individual'sRead the answer and worked solution →A s.201(2) notice is published in a local-language paper and inRead the answer and worked solution →Before applying to the Government under this Chapter, a general notice goes toRead the answer and worked solution →Compensation for loss of office under s.202 may be paid toRead the answer and worked solution →No compensation for loss of office is payable if the director was guilty ofRead the answer and worked solution →Compensation under s.202(3) is limited to the rest of the term or how many years, whichever is shorter?Read the answer and worked solution →Compensation under s.202(3) is based on average pay over the precedingRead the answer and worked solution →Section 202(4) does not stop paying an MD for services given inRead the answer and worked solution →No compensation is paid if winding up starts within how many months after he left, with assets short?Read the answer and worked solution →Whole-time key managerial personnel under s.203(1) include theRead the answer and worked solution →Without an MD, CEO or manager, a prescribed company must have aRead the answer and worked solution →Whole-time KMP are appointed by aRead the answer and worked solution →A person already MD of one company may become MD of a second only with consent ofRead the answer and worked solution →A KMP may be a director of another company with permission ofRead the answer and worked solution →The secretarial audit report under s.204 is given byRead the answer and worked solution →Qualifications in a secretarial audit report must be explained in full byRead the answer and worked solution →Under s.204(2), the company must give all facilities toRead the answer and worked solution →Under s.205(1)(a), a company secretary reports to the Board on compliance withRead the answer and worked solution →Secretarial standards referred to in s.205 are issued by theRead the answer and worked solution →A director's fixed remuneration under s.197(4) is inclusive of pay forRead the answer and worked solution →In a loss year, an articles clause raising director pay works only if it followsRead the answer and worked solution →

Worked practice questions

Under s.197(14), a whole-time director drawing company commission may also draw from

  1. Any family trust
  2. A joint venture
  3. A rival company
  4. Holding or subsidiary
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Correct answer: D. Holding or subsidiary

Section 197(14) lets him receive remuneration from a holding or subsidiary company if disclosed.

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Which sum is NOT deducted under s.198(5)?

  1. Debenture interest
  2. Income-tax payable
  3. Bad debts written off
  4. Depreciation, s.123
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Correct answer: B. Income-tax payable

Section 198(5)(a) keeps income-tax payable under the Income-tax Act from being deducted.

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Interest on unsecured loans and advances is, in net profits under s.198(4),

  1. Credited
  2. Deducted
  3. Ignored
  4. Added back
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Correct answer: B. Deducted

Section 198(4)(h) names interest on unsecured loans and advances as a deduction.

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