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CA IPCC : Sample / Mock Test Paper - BUSINESS LAWS, ETHICS & COMMUNICATION 2011

3 pages, 32 questions, 3 questions with responses, 3 total responses,

CA IPCC
Tilak Vidyalaya Higher Secondary School (TVHSS), Kallidaikurichi

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Paper 2: Business Laws, Ethics and Communication Question Answers to questions are to be given only in English except in the case of candidates who have opted for Hindi medium. If a candidate who has not opted for Hindi medium, answer in Hindi, his answer in Hindi will not be valued. PART I Question Nos. 1 and 2 are compulsory. Attempt any eight questions from the rest. 1. (a) Ashok lends Rs.50,000, on terms that it will be returned in two month s time, to Sanjay for helping the latter buy certain contraband transmitting equipment. Can Ashok get the loan amount returned in case Sanjay defaults and under what circumstances? (b) State with reason whether the following statements are correct or incorrect: (i) A minor is a person who has not completed 21 years of age. (ii) Strikes, lock-out and civil disturbances do not discharge a contract. (c) Pick out the correct answer from the following and give reasons. (i) X undertakes to paint a picture of Y. X dies before painting it. The contract is (a) (b) becomes voidable at the option of Y. (c) becomes voidable at the option of X s legal representatives. (d) (ii) discharged by X s death. will have to be performed by that legal representative of X, who has good painting skills. Specific performance may be ordered by the Court when (a) the contract is voidable. (b) damages are an adequate remedy. (c) damages are not an adequate remedy. (d) the contract is uncertain. (iii) A contract of indemnity is a (a) (b) Wagering Contract. (c) Quasi Contract (d) 2. Contingent Contract. Void Agreement (a) Annual General Meeting of a Public Company was scheduled to be held on 15.12.2008. Mr. A, a shareholder, issued two Proxies in respect of the shares held by him in favour of Mr Y and later another in favour of Mr. X . The proxy in favour of Y was lodged on 12.12.2008 and the one in favour of 6 Mr. X was lodged on 15.12.2008. The company rejected both the proxies, in favour of Mr. Y and Mr. X. Is the rejection by the company in order? (b) State with reasons whether the following statements are correct or incorrect: (i) There cannot be a company without share capital. (ii) The prospectus must be issued to the public within 90 days of its delivery to registrar. (c) Pick out the correct answer from the following and give reasons: (i) A promoter of a company that is to be incorporated is a. b. c. d. an agent of the company a trustee of the company a quasi-trustee of the company an employee of the company (ii) To use the expression Enterprises , the minimum authorized capital must be a. b. c. d. 1 lakhs 10 lakhs 1 crore 3 crores (iii) The doctrine of indoor management is also known as a. The Salomon Rule b. The Briggs Rule c. The Turquand Rule d. The Daimler Rule 3. A promoter borrowed a loan on behalf of company and sent a cheque from the company s account to discharge its legal liability. Subsequently the cheque was dishonoured and a complaint was lodged against him. Here the promoter is neither a director nor a person-in-charge. Is he liable for an offence under section 138? 4. Examine the circumstances under which different departments of a company can be treated as separate establishments for the payment of bonus under the Payment of bonus Act, 1965. 5. Who determines the various amounts of money due from an employer under the Employees Provident Fund Act,1952? State the factors to be considered at the time of such determination. 6. Examine the concept of continuous service under the Payment of Gratuity Act, 1972. 7. Discuss the rules relating to sans recours endorsement. 8. A scheme of amalgamation of XYZ Ltd. with ABC Ltd. was approved at statutory meeting of company XYZ Ltd. convened under Section 391 and the scheme was presented to the High Court for sanction. The exchange ratio of shares of company XYZ Ltd. for that of company ABC Ltd. was not to the satisfaction of XYZ Ltd. s shareholders. Examine if the shareholders of XYZ 7 Ltd. can requisition an EGM to ask their company to renegotiate with the other company. Can the High Court prevent the shareholders from discussing the terms of amalgamation? 9. The Directors of Volga Computers Ltd. decide to change the name of the company to Ganga Technologies Ltd. and seek your advice. Explain the procedure to be followed under the Companies Act, 1956. 10. Distinguish reduction of capital from diminution of capital. 11. The Artcles of Association of XYZ Ltd. require the personal presence of 7 members to constitute quorum for General Meetings. The following persons were present in the extra-ordinary general meeting to consider the appointment of Managing Director. (i) Mr. A, the representative of the President of India (ii) M/s B and C, preference shareholders (iii) Mr. D, representing ABC Ltd and DEF Ltd (iv) M/s E, F and G, proxies of shareholders Do the above people constitute valid quorum? 12. M/s Panacea Pharma Ltd, a company having its Registered Office at Mumbai desires to shift its Registered Office to Pune, also within Maharashtra. Briefly explain the procedure applicable in this regard under the Companies Act, 1956. PART II Question No. 13 is compulsory. Attempt any two questions from the rest. 13. (a) Mention and elaborate any three avenues by which workplace ethics can be enhanced. (b) Discuss issues relating to eco-friendly business practices. 14. Set out the pragmatic reasons for behaving ethically in marketing. 15. What steps can help in creating an ethical environment in a company? 16. Enumerate and discuss briefly the fundamental principles relating to ethics. PART III Question No. 17 is compulsory. Attempt any two questions from the rest. 17. (a) Discuss the merits and limitations of the grapevine phenomenon. (b) Explain chronemics. 18. Describe the main characteristics of group personality. 19. Discuss the elements that influence Organizational Culture. 20. Board of Directors of ABC Private Limited, New Delhi, proposes to convene an Extraordinary General Meeting for changing the name of the company to Global ABC Private Limited. Draft the notice for calling the Extraordinary General Meeting of the Members. 8

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Chartered Accountancy (ICAI India) : Integrated Professional Competence Course (IPCC) - Model / Mock Test Paper for Business Laws, Ethics & Communication Group I Paper 2

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