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(c) |
Re–write the following sentences after filling–up the blank space with appropriate word(s) so as to convey the correct meaning :
(i) | The document containing the constitution of a company is known as ___________. |
(ii) | A sale by auction is complete when the auctioneer announces its completion by the fall of the ___________ or in any other customary manner. |
(iii) | Every company must in each calendar year hold an annual general meeting provided that not more than _____ months shall elapse between two annual general meetings. |
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(1 mark eacj) |
3. |
(a) |
What are the effects of non–registration of a partnership firm ? |
(5 marks) |
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(b) |
Who is an ‘unpaid seller’ ? State the rights of an unpaid seller. |
(5 marks) |
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(c) |
Ajay found a defective video camera lying in a park. He pledged it with Vijay for Rs.3,000. Mohan, the real owner, came to know about it. Mohan sued Vijay to recover his camera. Vijay had incurred Rs.500 on repair to make the camera operational. Can Mohan recover his camera ? |
(5 marks) |
4. |
Attempt any three of the following:
(i) | Explain the term ‘Secretary’ under the Companies Act, 1956. State whether every company is required to appoint a whole-time Company Secretary. |
(ii) | Explain the position of a minor in a partnership firm. |
(iii) | A, B, C, D and E are partners in a firm. They decided to dissolve the firm from 1st January, 2006 but failed to give a public notice of its dissolution and continued the business of the firm even after that date. D died on 5th January, 2006 and E was declared insolvent on 10th January, 2006. On 11th January, 2006, A borrowed in the firm’s name Rs.20,000 from R who was ignorant of the dissolution. Discuss the liability of partners. |
(iv) | On a bill of exchange for Rs.10,000 Sumit’s acceptance to the bill is forged. Amit takes the bill from his customer in good faith and for consideration before the bill becomes payable. State with reasons whether Amit can receive the amount of the bill from Sumit. |
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(5 marks each) |
PART—B |
(Answer Question No.5 which is compulsory and any two of the rest from this part.) |
5. |
(a) |
State, with reasons in brief, whether the following statements are correct or incorrect. Attempt any five :
(i) | The business of every business is to earn profits only. |
(ii) | Unity of command means accountability of a subordinate only to one superior. |
(iii) | Country club leadership style has high concern for production and low concern for people. |
(iv) | iv) To unlearn is as important as to learn. |
(v) | Information overload is as bad as information gap. |
(vi) | Contingency approach to management means that organisations must be flexible and display an ability to unplanned occurrences. |
(vii) | Functional organisation means division of tasks in a department on the basis of functional specialisation. |
(viii) | Staffing function is the same as human resources management function in an organisation. |
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(2 marks each) |
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(b) |
Write notes on any two of the following :
(i) (ii) (iii) |
Steps in the process of rational decision making Line and staff organisation Total Quality Management (TQM). |
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(5 marks each) |