CWA ICWA Inter Stage I : Business Laws and Communication Skills - June 2003

CWA ICWA Inter - Stage I • Business Laws and Communication Skills • June 2003

This Paper has 40 answerable questions with 0 answered.

I—7(BLC) Revised Syllabus
Time Allowed : 3 Hours	Full Marks : 100

Question No. 1 [both (a) and (b)] is compulsory and attempt any three from the rest in section I and any two from section II.
Section — I
Marks

Question No. 1 [both (a) and (b)] is compulsory and
attempt any three from the rest in section I and
any two from section II.

Section — I

Marks

1.	(a)	Comment on the following statements:		1½x12
		(i)	All employees are entitled to Bonus as per Bonus Act.		(0)
		(ii)	In the absence of any Partnership Agreement, profit or loss are shared according to capital invested by the Partners (Partnership Act, 1932).		(0)
		(iii)	Large Ltd., which commenced its business from 1st January 2003, can carry any type of business and in any area of the Country.		(0)
		(iv)	A bank when gives a guarantee on behalf of a principal debitor, is called a guarantor.		(0)
		(v)	As per Industrial Disputes Act, 1947, the Charitable Institutions are not Industry.		(0)
		(vi)	Drawee in case of need and Acceptor for honour are the same.		(0)
		(vii)	Air (Prevention and Control Pollution) Act, 1981, provide certain measures to control air pollution.		(0)
		(viii)	Mr. B.S. Ghosh, aged 20 years, a qualified Company Secretary has been appointed as Mg. Director of M/s. Well To Do Mfg. Co. Ltd. for a term upto 75 years of his age.		(0)
		(ix)	B, a partner, acting as an agent of the partnership firm transfers the firm immovable property, by virtue of implied authority.		(0)
		(x)	Article of Association of M/s. Reputed Mfg. Co. Ltd. provides Quorum for General meeting as two (2) Proxy being counted for purpose of Quorum.		(0)
		(xi)	Sukumar joined M/s Reputed Manufacturing Ltd., on 25.12.1998 and superannuated on 31.05.2003. Determine gratuity if his last salary was 7,000,00 per month.		(0)
		(xii)	Mr. A. Sen is appointed as an Alternate Director in place of Mr. D. Sen being original Director. Alternate Director absented himself from 4 consecutive Board Meetings. The Secretary is of the view that Mr. B. Sen who is the original Director is liable to vacate of his office.		(0)
	(b)	Distinguish between Retrenchment and Lay off.		4	(0)
2.	(a)	Mr. Buyer purchased a Scooter for Rs. 5,000 on 1.7.02 from Mr. Seller. Mr. Buyer was running the Scooter from the date of purchase. Mr. Unknown who was the True Owner has now demanded the Scooter from Mr. Buyer who was not aware that Mr. Seller has no title to it. State the legal position.		4	(0)
	(b)	What are the matters requiring special notice?		4	(0)
	(c)	Under what circumstances would one person constitute a meeting?		4	(0)
	(d)	When and how can a Shareholder of a company be the Chairman at the AGM?		4	(0)
3.	(a)	Discuss the rights and powers of the auditor of a company.		6	(0)
	(b)	Under Section 233A, when may the Central Government direct a special audit of the affairs of company?		6	(0)
	(c)	Mention the circumstances when payment of interest out of capital is allowed. Also point out the conditions for the same.		4	(0)
4.	Explain per the validity of the following:–
	(a)	As per Section 10 of the Contract Act consideration is an important element for a contract to be valid. Hence all contract without consideration is void.		6	(0)
	(b)	Entire amount of Profit can be distributed as dividend by a company.		6	(0)
	(c)	The Article of Association are compulsorily required to be registered by every company.		4	(0)
	(d)	The principle of retirement by rotation is applicable to all types of companies.		3	(0)
5.	(a)	Mention the circumstances in which a company may be wound up by the Court.		6	(0)
	(b)	What is meant by mismanagement of a company? What are the remedial measures available to the minority shareholders?		6	(0)
	(c)	What do you understand by authentication of Balance Sheet and Profit & Loss Account? Explain the provisions of law in this regard.		4	(0)
6.	Write short notes on any four:			4x4=16
	(a)	Service (Consumer Protection Act, 1986).			(0)
	(b)	Depository system in India.			(0)
	(c)	Interim dividend			(0)
	(d)	Negotiation and Endorsement of a Negotiable Instrument.			(0)
	(e)	Special Director.			(0)
	(f)	Floating and Fixed Charges.			(0)

Section II
Answer any two questions.

Section II

Answer any two questions.

7.	Draft a Directors Report covering all relevant points as required under Companies Act for the Financial year 2002–03. A.G.M. to be held on 30.8.03.		15	(0)
8.	(a)	X Co. Ltd. sent you some defective goods which are not also according to the sample approved by you. Write a suitable letter on behalf of you company to deal with the matter.	8	(0)
	(b)	One of your employees has been absenting from duty without leave. Draft a suitable show cause notice, as the Personnel Manager.	7	(0)
9.	(a)	Write a circular letter to your existing dealers introducing Indian make Japanese toys (which are cheaper than imported toys) being produced and marketed first time by your company.	8	(0)
	(b)	As a claim officer of a General Insurance Co., write a letter to M/s. ABC Mfg. Co. Ltd. accepting their claim for lesser amount.	7	(0)
10.	(a)	Draft a suitable Newspaper Insertion to be published under situation vacant column for recruitment of a General manager of your company.	7	(0)
	(b)	As a personnel manager. Write a letter to Sri Satya Ranjan Bagchi informing him that he has not been selected for the post of Dy. Chief Engineer for which he was interviewed. However his name has been kept in the panel for Asst. Chief Engineer.	8	(0)

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