MCQOPTIONS
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MCQOPTIONS
This section includes 71 Mcqs, each offering curated multiple-choice questions to sharpen your Cost Accounting knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
The minimum age limit for appointment of managing director and the wholetime director is |
| A. | 18 years |
| B. | 21 years |
| C. | 25 years |
| D. | 30 years |
| Answer» C. 25 years | |
| 52. |
Every LLP firm shall have at least _____________ designated partners who are individuals. |
| A. | two |
| B. | three |
| C. | four |
| D. | Five |
| Answer» B. three | |
| 53. |
Under Employee's State Insurance Act, 1948, the term of the office of the members of Medical Benefit Council shall be |
| A. | 2 Years |
| B. | 4 Years |
| C. | 5 Years |
| D. | 10 Years |
| Answer» C. 5 Years | |
| 54. |
Anusua and Shrita formed a partnership to undertake a construction of a shopping complex in New Delhi. This partnership is called |
| A. | Partnership at will |
| B. | Particular partnership |
| C. | Unlimited partnership |
| D. | Partnership with undefined mission |
| Answer» C. Unlimited partnership | |
| 55. |
The sweat equity shares shall be locked in for a period of __________ years from the date of allotment. |
| A. | One |
| B. | Two |
| C. | Three |
| D. | Four |
| Answer» D. Four | |
| 56. |
Every company limited by shares shall keep and maintain the Register of Members in Form No. |
| A. | MGT-1 |
| B. | MGT-3 |
| C. | MGT-7 |
| D. | MGT-12 |
| Answer» B. MGT-3 | |
| 57. |
The annual return of an OPC shall be signed by the company secretary or where there is no company secretary, by the |
| A. | Senior executive of the company |
| B. | Auditor of the company |
| C. | Director of the company |
| D. | Advocate of the company |
| Answer» D. Advocate of the company | |
| 58. |
X and Y agree to divide the profits of a business in equal shares but the loss if any is to be borne by X only. The partnership agreement is |
| A. | void |
| B. | voidable |
| C. | lawful |
| D. | illegal |
| Answer» D. illegal | |
| 59. |
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than |
| A. | three years |
| B. | five years |
| C. | seven years |
| D. | ten years |
| Answer» C. seven years | |
| 60. |
At every AGM, not less than ________ of the total number of directors shall retire by rotation. |
| A. | One third |
| B. | Two third |
| C. | Three fourths |
| D. | Half |
| Answer» B. Two third | |
| 61. |
According to Minimum Wages Act, 1948 wage slip shall be issued by every employer to his employees |
| A. | One day prior to disbursement of wages |
| B. | On the date of disbursement of wages |
| C. | One day later to the disbursement of wages |
| D. | Anytime during the month |
| Answer» B. On the date of disbursement of wages | |
| 62. |
A person who has ultimate control over the affairs of the factory under Factories Act, 1948 is called as: |
| A. | Occupier |
| B. | Manager |
| C. | Chairman |
| D. | Managing Director |
| Answer» B. Manager | |
| 63. |
As per the Minimum Wages Act 1948, Adolescent means a person who has completed the age of 14 years but not completed the age of |
| A. | 15 |
| B. | 14 |
| C. | 21 |
| D. | 18 |
| Answer» E. | |
| 64. |
In case of a private company, mention the number of members personally present to form the quorum of a meeting of the company. |
| A. | One member |
| B. | Two members |
| C. | Three members |
| D. | Four members |
| Answer» C. Three members | |
| 65. |
In case of an employee who has not completed 15 years of age at the beginning of the Accounting year, the minimum bonus will be |
| A. | `100 or 8.33% of salary or wages whichever is higher. |
| B. | ` 60 or 8.33% of salary or wages whichever is higher. |
| C. | ` 60 or 8.33% of salary or wages whichever is lower. |
| D. | 8.33% of salary or wages. |
| Answer» C. ` 60 or 8.33% of salary or wages whichever is lower. | |
| 66. |
Anu threaten to kidnap Binu's daughter if she does not sell her house worth ` 90 Lakh to her for ` 20 Lakh. This Contract is void due to |
| A. | inadequacy of Consideration |
| B. | absence of Free Consent |
| C. | incompetence of Parties |
| D. | None of the above |
| Answer» C. incompetence of Parties | |
| 67. |
X, Y and Z are partners in a firm. X, without the authority of Y and Z buys certain shares in his name out of partnership money. These shares will constitute |
| A. | Partnership liability |
| B. | Partnership Property |
| C. | Partnership networth |
| D. | Partnership Capital |
| Answer» C. Partnership networth | |
| 68. |
Every employee shall be entitled to receive bonus from his employer in an accounting year if he has worked for not less than |
| A. | Ten working days |
| B. | Twenty working days |
| C. | Thirty working days |
| D. | Forty working days |
| Answer» D. Forty working days | |
| 69. |
Section 2(7) of the Sale of Goods Act, 1930 the term 'Goods' does not include __________. |
| A. | Stock and share |
| B. | Growing Crops |
| C. | Grass |
| D. | Neither (A) nor (B) nor (C) |
| Answer» E. | |
| 70. |
An instrument of the proxy shall be deposited with the registered office of the company before ____________ hours of the conduct of the meeting. |
| A. | 7 hours |
| B. | 21 hours |
| C. | 48 hours |
| D. | 60 hours |
| Answer» D. 60 hours | |
| 71. |
No female child shall be allowed to work in any factory except between ________________. |
| A. | 8 AM and 7 PM |
| B. | 6 PM and 6 AM |
| C. | 6 AM and 7 PM |
| D. | 10 PM and 5 AM |
| Answer» B. 6 PM and 6 AM | |