XII COMMERCE PUBLIC EXAM IMPORTANT QUESTIONS
LEAD BY KNOWLEDGE COACHING CENTRE & TUTORIAL
SECTION - A
I. Choose the correct answer
1. In a co-operative society
a. One share one vote principle is followed
b. One man one vote principle is followed
c. A member must have 2 votes
d. Shares are transferable
2. The share capital of the government company must not more than
a. 75% b. 60% c. 95% d. 51%
3. A multinational company is also known as
a. Global giant
b. Partnership
c. Co-operative society
d. Public cooperation
4. The liability of the sole trader is
a. Limited only to his investment in the business
b. Limited to total property of the business
c. Unlimited
d. None of the above
5."One man control is the best in the world" - This statement is given by
a. Dr. O.R. Krishnaswami
b. Wheeler
c. William R. Baset
d. James Stephenson
6.Decision-making process in sole trading is
a. quick
b. slow
c. neither quick nor slow
7. A partnership firm may be registered under
a. 1949
b. 1956
c. 1932
8. In partnership there exits a relationship of
a. principal and agent
b. owner and servant
c. employer and employee
9. The minimum number of members for a public limited company is
a.2
b.3
c.7
d.10
10. Debenture holders of a company are its
a. creditors
b. members
c. credit customers
d. borrowers
11.A private limited company can commence business
a) immediately on receiving the certificate of incorporation
b) only after the certificate of commencement of business is received
c) on getting name approval from the Registrar
d) on filing all the documents necessary for formation with the Registrar
12. Table A of the Companies Act is a
a) model minutes book
b) model form of balance sheet
c) model of Articles of Association
d) model of memorandum of association
Answer : ( c )
13. The minimum subscription specified in the prospectus must be
received within
a) 90 days b) 120 days c) 130 days d) 60 days
Answer : (a)
14. Debenture holders are entitled to receive interest in the following circumstances
a) when there are profits
b) when shareholders also get dividend
c) every year irrespective of loss
d) all the above
15. A company should compulsorily appoint a qualified company
secretary, having a paid up capital of more than
a) Rs. 5 Lakh b) Rs.50 Lakh
c) Rs.25 Lakh d) Rs.15 Lakh
16. The value of qualification shares of a director in a public limited
company shall not exceed
a) Rs.5000 b) Rs.5,00,000 c) Rs.50,000
d) Rs.500
17. Which of the following business is not transacted at the Annual General Meeting
a) appointment of auditors b) issue of debentures
c) appointment of directors in place of those retiring
d) declaration of dividend
18. Who can call Extraordinary General Meeting ?
a) Company Law Tribunal
b) Board of Directors on its own or on the requisition of members
c) By the requisitionists themselves on Board’s failure to convene
d) all of these
19. Number of recognised stock exchange in India
a) 2 b) 21 c) 22 d) 24
20. The popular method of sale of new shares in India is
a) Public issue b) Offer for sale
c) Managing brokers d) Underwriting
21. Securities Contract Regulation Act was passed in
a) 1952 b) 1956 c)1964 d) 1966
22. SEBI is formed as per
a) Securities contract (Regulation) Act
b) Securities and Exchange Board of India Act
c)Companies Act
d) Indian constitution
23. A cautious speculator is known as
a) Stag b) Bull
c) Lame duck d) Bear
24. SEBI has the following number of members including chairman.
a) 5 b) 7 c) 6 d) 8
25.Co-operative society can be started
a. Only at villages
b. In towns and Villages
c. Only in cities
d. Only in urban areas
26. The minimum number of members required to from a
co-operative society is
a) 2 b) 7 c) 10 d) 25
27. Maximum membership in a co-operative society is
a. 50 b. 60 c. 100 d. Unlimited
28. Central Co-operative bank is established at
a. Villages b. Districts
c. State head quarters d. Urban areas
29. In a public corporation the management has
a) Limited freedom b) No freedom of action
c) Controlled freedom d) Unrestricted freedom of
action.
30. Public can also subscribe to the share capital of
a) Public corporation b) Departmental undertaking
c) Government company d) None of these
31. In a government company the share capital of the government
must not be less than
a) 51% b) 60% c) 75% d) 90%
II. Fill in the blanks
32. The primary aim of state enterprises is ___________
33. In a Government company atleast _____________shares are owned by the Government
34. The most suitable form of organisation for manufacturing defence goods is ________________
34. 10. Public corporations are managed by a ___________nominated by the Government.
35. The father of the co-operative movement was ____________
36. The liability of the members of a Co-operative Society is _______
37. An industrial co-operative is organized by _________________
38. The long term capital required by the company is divided into small units of fixed amount called ______
39. Debentures denote ________________ interest
40. Primary market is concerned with ___________
41. ________is an invitation to the public to subscribe for the shares
42. Listing is ________________ for public companies.
43. Ready delivery contracts are also called as ______________
44. BOLT is the online trading system in use at ______________ stock exchange
45.The Quorum for a General Meeting of members of a public company is _____________
46.The minimum number of members in a private company is _____
47. The maximum number of members in non-banking firm is _______________
48. The profit and loss of a partnership firm is shared in the _____________ among the partners.
49. ----------------- has said that one-man control is the best in the world
50. Government Company employees are not _______________
60. Broadcasting comes under____________ form of organization
61. In co-operative society all members are ________
62. The liability of sole trader is __________________
III SECTION - B
- Who is a KARTA?
- What is public corporation?
- What do you mean by co-ordination?
- What is scalar principle?
- State the meaning of Board organisation
- Define “sole trader”.
- What is unlimited liability?
- What are the minimum and maximum number of members in the partnership firm?
- What is a partnership deed?
- Who is a minor? Can a minor become a partner?
- Define implied authority of a partner
- What is a guarantee company ?
- Define debentures
- What do you understand by Promotion of company ?
- What is redeemable preference shares ?
- What is meant by perpetual succession?
- What is a statutory meeting?
- What is proxy?
- What do you mean by quorum?
- What is an agenda?
- What is “Minutes”?
- What is a special resolution?
- What do you mean by poll?
- What is SEBI?
- What is OTCEI?
- Who is a jobber? Who is a broker?
- Define a stock exchange
- What is ‘ underwriting’?
- Who is called a ‘Lame duck’?
- What is meant by one man one vote?
- What are the aims of credit co-operative society?
- Define Co-operation?
- Who are Rochdale pioneers?
- Mention any four features of co-operative society?
- Give example of Co-operative super markets in Tamil Nadu?
- Define state enterprises?
- Define a Government company.
- How does the state enterprises bring in balanced economic growth?
SECTION - C
- What are the differences between public and private sector?
- State the features of the departmental form of state enterprises
- Explain the types of agricultural credit societies
- What are the steps involved in forming a co-operative society?
- Explain the procedure for listing of securities.
- Differentiate between Investors and speculators.
- Explain the different kinds of speculators.
- Write notes on Extraordinary General Meeting.
- Write a short note on Managerial Remuneration
- Write a note on Guarantee company.
- Write a note on Irregular Allotment
- What is Memorandum of Association? What are its contents ?
- What are the contents of partnership deed?
- Explain the position of minor in the partnership firm.
- Write short notes on Joint hindu family business
- Explain any two types of individualistic institutions
SECTION - D
- Explain briefly the principles of organisation.
- Describe the various types of business organisation
- Discuss the merits and demerits of sole trading form of business.
- One man control is the best in the world provided that one man
is big enough to take care of everything” Discuss. - Whar are the advantages and disadvantages of partnership firm?
- Explain the rights and duties of partners
- What is prospectus ? State its contents.
- Explain the different types of shares
- Explain the different types of debentures.
- Distinguish between shares and debentures
- Write explanatory notes on
a) Proxy b) Quorum c) Minutes - Discuss the functions and duties of a company secretary.
- Write explanatory notes on
a) Annual General Meeting b) Board Meeting
c) Extraordinary General Meeting - Define Stock Exchange. Explain its characteristics and functions.
- Explain the objectives, features, functions and powers of SEBI.
- Distinguish between the joint stock company and co-operative
society - Explain any eight types of co-operative societies in detail.
- Explain the objectives of state enterprises
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