Practice Test

Q1) _______ companies cannot accept public from deposits. Show Answer

Q2) ________ companies can accept from public deposits. Show Answer

Q3) _______ is useful only for meeting temporary financial need. Show Answer

Q4) Deposits mean any deposits which include any amount ______ by a company. Show Answer

Q5) Public deposits is an acceptance of ________ of a fixed amount. Show Answer

Q6) The company can accept public deposits for a maximum period of _____ months. Show Answer

Q7) Public deposits should not be more than _____ % of the paid up capital and free reserve. Show Answer

Q8) Deposits can not be repaid within ____ months of its acceptance. Show Answer

Q9) Public deposits carry fixed rate of ______. Show Answer

Q10) Depositors are ______ of the company. Show Answer

Q11) A company can accept deposits for a maximum period of _______ years. Show Answer

Q12) The amount of deposits should not exceed ______ % of Paid up capital and free reserves in case of Government Companies. Show Answer

Q13) A deposit receipt must be issued within _______ days from acceptance of deposit. or realisation of cheque. Show Answer

Q14) A copy of return of deposits must be sent to the ______. Show Answer

Q15) The secretary has to prepare _______ in case of advertisement is not given by company while inviting members. Show Answer

Q16) A penal rate of interest of _______ % shall be paid for the overdue period in case of public deposits matuared and claimed and remaining unpaid. Show Answer

Q17) Deposits shall not be repayable on demand or on notice or repayable earlier then six months or later than _______ months from the date of acceptance or renewal. Show Answer

Q18) Deposits are accepted by the public companies only. Show Answer

Q19) There is limitation on the amount accepted by the companies as deposits. Show Answer

Q20) Depositors approval is must for renewal of deposits. Show Answer

Q21) Private companies can accept deposits Show Answer

Q22) Invitation of deposits from public must be through an advertisement. Show Answer

Q23) Default in acceptance or refund of deposits cognisable offence. Show Answer

Q24) Depositors are _______ of the company. Show Answer

Q25) Company cannot accept deposits payable ______. Show Answer

Q26) Returns of deposits must be filed every year on or before 30th June. Show Answer

Q27) Company issues circular to its members to subscribe for its deposit schemes. Show Answer

Q28) Deposit is types of owned capital. Show Answer

Q29) Deposit is a type of __________. Show Answer

Q30) Public companies other than eligible company can accept deposits from __________. Show Answer

Q31) Eligible public company and Government Company can' collect deposits from __________. Show Answer

Q32) Private company can accept deposits from its member or Directors up to not more than __________ % of its aggregate of paid-up share capital and free reserves. Show Answer

Q33) A Company can accept deposits from public not exceeding 35 % of its paid-up share capital and free reserves. Show Answer

Q34) An eligible public company cannot accept deposits from members if the total deposits exceeds __________ % of aggregate of paid-up share capital and free reserves. Show Answer

Q35) Deposit can be accepted for a minimum of 6 months and maximum for __________ months. Show Answer

Q36) If a company issues deposits for a period of 3 months, the amount of such deposits cannot be more than __________ % of aggregate of paid-up share capital and free reserves. Show Answer

Q37) Charge on assets is to be created when a company Issues __________. Show Answer

Q38) If the company offers secured deposits, it has to create a charge on tangible assets within __________ days of acceptance of deposits. Show Answer

Q39) A company cannot accept joint deposits for more than __________ persons. Show Answer

Q40) Company issues __________ to invite its members to subscribe for its deposit scheme. Show Answer

Q41) Company has to file a copy of circular or advertisement signed by all directors with the __________. Show Answer

Q42) Company can issue circular or advertisement for inviting deposits after __________ days of filing it with Registrar of Companies. Show Answer

Q43) Company has to appoint __________ to protect the interest of depositors. Show Answer

Q44) Company signs a contract with the Deposit Trustees called as __________. Show Answer

Q45) The trust deed has to be signed at least __________ days before issuing the circular or advertisement. Show Answer

Q46) The deposit trustee can call a meeting when a company defaults in repaying deposits on the request of __________ depositors. Show Answer

Q47) In case of secured deposits, the security is created in favour of __________. Show Answer

Q48) A company needs to take Deposit Insurance at least __________ before issue of circular or advertisement. Show Answer

Q49) Deposit insurance is to be taken if the amount of deposit plus interest on it is up to Rs.__________. Show Answer

Q50) Every company accepting deposits, has to open in a scheduled Bank, a __________ A/c Show Answer

Q51) Deposit Repayment Reserve Account can be only used for __________. Show Answer

Q52) Deposit Receipt is issued within __________ days of receipt of deposit. Show Answer

Q53) A company must give Deposit Receipt to the depositor within __________ of its acceptance. Show Answer

Q54) The details of deposits and depositors should be entered in the Register of Deposits within __________ days from the date of issue of Deposit Receipt, Show Answer

Q55) Return of deposit must be filed every year on or before __________. Show Answer

Q56) For premature repayment of deposit, company deducts __________ % of interest. Show Answer

Q57) Shareholders approval for accepting depsoits is taken by passing a __________ resolution in the general meeting. Show Answer

Q58) A private company can collect deposits from public. Show Answer

Q59) A public company can receive deposits from the public to any extent. Show Answer

Q60) Deposits will cause dilution of control in a company. Show Answer

Q61) A Banking company has to follow the provisions of Section 73 to 76 of companies Act, 2013 while accepting deposits. Show Answer

Q62) All public companies can collect deposits from public. Show Answer

Q63) Eligible public company can collect deposits from its members. Show Answer

Q64) Government company can collect deposits from its members. Show Answer

Q65) Eligible public company can collect deposits from public not exceeding 35% of its paid up share capital and free reserves. Show Answer

Q66) Deposit can be accepted for a maximum of 36 months. Show Answer

Q67) A company can make premature repayment of deposits under certain circumstances. Show Answer

Q68) A company can accept deposits payable on demand. Show Answer

Q69) A company cannot accept unsecured deposits. Show Answer

Q70) For secured deposits, company has to create a charge on its tangible assets. Show Answer

Q71) If a company invites deposits from public, it issues circular through registered post. Show Answer

Q72) The circular inviting deposits from the members of the company should be filed with the Registrar of Companies, Show Answer

Q73) A company can issue the circular for inviting deposits only after 20 days of filing a copy with the registrar of companies. Show Answer

Q74) For inviting deposits from the public, the advertisement should be published in one English Newspaper and one vernacular newspaper. Show Answer

Q75) Deposit Trustees are appointed to protect the interest of the company. Show Answer

Q76) Deposit Trust Deed is an agreement between company and Deposit Trustee. Show Answer

Q77) The Deposit Trustee do not have a right to call the meeting of its depositors. Show Answer

Q78) If the amount of deposit plus interest on it is up to Rs. 20,000, insurance is to be taken. Show Answer

Q79) Company appoints Credit Rating Agency to protect the interest of depositors. Show Answer

Q80) Credit rating for the deposits is done by the Board of Directors of the company. Show Answer

Q81) Deposit Receipt is issued within 21 days of receipt of deposits. Show Answer

Q82) Return of deposit must be filed every year on or before 31st March. Show Answer

Q83) The maximum rate of interest on deposit depend upon guidelines given by SEBI. Show Answer

Q84) A company cannot alter the terms of deposits after it is accepted by the company. Show Answer

Q85) A company has to appoint a banker only if it issues deposits to the public. Show Answer