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CA Final Appointment and Remuneration of Managerial Personnel — practice questions — page 3

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 61–62 of 62.

Depreciation deducted for net profits is to the extent specified in sectionRead the answer and worked solution →In a loss year, sitting fees under s.197(5) areRead the answer and worked solution →

Worked practice questions

Depreciation deducted for net profits is to the extent specified in section

  1. 128
  2. 129
  3. 123
  4. 135
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Correct answer: C. 123

Section 198(4)(k) deducts depreciation only as specified in section 123.

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In a loss year, sitting fees under s.197(5) are

  1. Capped at one lakh
  2. Outside the s.197(3) bar
  3. Paid only to the MD
  4. Barred altogether
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Correct answer: B. Outside the s.197(3) bar

Section 197(3) restricts only sums other than fees payable under sub-section (5).

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