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CA Foundation Companies Act 2013 — practice questions — page 3

Explore 68 free Companies Act 2013 questions in CA Foundation Businesslaw. Open each question or exercise to read its content, reference answers and available explanation.

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Companies Act 2013 questions and exercises with answers

Showing questions 61–68 of 68.

A company covered by Section 135 must spend what share of average net profits on CSR?Read the answer and worked solution →CSR activities are specified in which Schedule of the Act?Read the answer and worked solution →Before appointment, an auditor must give the company his:Read the answer and worked solution →Related party contracts need the consent of the:Read the answer and worked solution →Which section made CSR spending mandatory for large companies?Read the answer and worked solution →Members alleging oppression of members apply under Section 241 to the:Read the answer and worked solution →Which committee's recommendation led to setting up the NCLT?Read the answer and worked solution →An act done by a company beyond its objects clause is described as:Read the answer and worked solution →

Worked practice questions

A company covered by Section 135 must spend what share of average net profits on CSR?

  1. One percent
  2. Two percent
  3. Five percent
  4. Ten percent
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Correct answer: B. Two percent

Section 135(5) requires at least two per cent of the average net profits of the preceding three financial years.

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CSR activities are specified in which Schedule of the Act?

  1. Schedule I
  2. Schedule IV
  3. Schedule VII
  4. Schedule XI
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Correct answer: C. Schedule VII

The CSR Committee's policy indicates activities as specified in Schedule VII.

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Before appointment, an auditor must give the company his:

  1. Written consent
  2. Personal guarantee
  3. Share certificate
  4. Bank statement
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Correct answer: A. Written consent

The second proviso to Section 139(1) requires the auditor's written consent before appointment.

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