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A beautiful thing gives us happiness, relaxation and peace. It inspires us and makes us love life despite troubles and sufferings.

A thing of beauty provides shelter and comfort in many ways. It is like a shady place under a tree where we can rest. It helps all living creatures to sleep peacefully, have good dreams and also good health.

The mighty dead are the brave men who have sacrificed their lives for a purpose. They Eire an inspiration to all of us because of their innumerable sacrifices. They are attributed with grandeur because of their noble deeds.

Number of edges in a cube are 12.

1. three-dimensional

2. different

3. E + 2

4. map

5. Perspective.

The memory of a beautiful visual scene leaves a lasting impression on us. It is a permanent source of joy and inspiration to five our lives despite the trials and tribulations. The pleasure and happiness given by it never fades away but keeps on increasing.

“Indians have known the art of iron molding since time immemorial.” This statement was made by Wilson.

(i) Easy Formation : It is easy to form a partnership firm. Only an agreement is needed to start the firm. The agreement between partners may be an oral or written one. A written agreement is always preferred to avoid disputes in future. Not many legal formalities are needed for forming or closing business. Even the procedure for registration is simple. 

(ii) Large Capital: Many partners come together to start a firm. Partners have joint responsibility to collect capital for the firm. As number of persons are more than sole trading concern, large capital can be collected. If business has to be expanded more capital has to be collected. 

(iii) Business Secrecy : More secrecy can be maintained in business. Books of accounts need not be published. There is no legal requirement to publish annual report. Information is not leaked out to competitors, which is an advantage to the firm. If partners want they can keep secrets to themselves. 

(iv) Rational Decisions : Decisions are taken collectively by partners. Two heads are always better than one.. Partners discuss can take decisions, which are always balanced. Partners have unlimited liability therefore they are careful in taking decisions.

Raja Vikramjeet.

Hasan (Zafar Shah) one of the officer of Mohammad Tuglaq.

Din-e-Ilahi .

The Karta in Joint Hindu family business has unlimited liability.

Explanation: 

The Karta’s property can be used to pay the liabilities of the business if the business assets are not sufficient to pay off the debts, thus, he has unlimited liability. The liabilities of coparceners are limited.

The head of a joint Hindu family business is called Karta. 

Explanation: 

The Karta is the eldest male member of a joint Hindu family who controls and manages the joint Hindu family business. He takes all the decisions relating to the family business and has unlimited liability.

(i) Limited Resources : Business is done by the joint family. So capital brought in by the family is limited. The capacity to raise funds is also limited as liability of co-parceners is limited. This affects growth and expansion of business.

(ii) Limited Managerial Ability : The management of business is totally taken care of by Karta. So the entire business depends upon the ability of the Karta. He does not even consult co-parceners for decision making. The Karta may not be an expert in all areas of business. Due to inadequate funds it is not possible to hire experts. Therefore, Joint Hindu Family Firm faces the disadvantage of limited managerial ability.

(iii) Unlimited Liability : The liability of Karta is unlimited. His decision making process becomes very slow. He is too cautious and unwilling to take risk in business. As there is no difference between personal property and business property of Karta he is afraid to take bold decisions. This affects the progress of business.

(iv) Limited Expansion : Even if Karta takes a lot of interest in business, the firm has the disadvantage of limited growth. Two reasons i.e., limited capital and limited managerial ability results in limited growth of business.

The maximum number of partners for a firm carrying on banking business is ten. 

Explanation: 

The maximum number of partners in a banking business is 10. For other businesses, the maximum number of partners is 20.

The members of the Joint Hindu Family are called as Co-parceners.

(C) M.K. Gandhi

The Right option is :(iv) Share

(iii) Sole proprietorship 

Correct option is (a) outdated

(B) Andhra Mahasabha

(D) All are correct

Elected representatives of the shareholders are called the Board of Directors.

Correct option is (b) flexible

Correct option is  (b) 2

i. Association or Subscription Clause

ii. Articles of Association

iii. Prospectus

iv. Abridged Prospectus

v. Shelf Prospectus

(c) Joint Hindu Family Firm

The members of Hindu Undivided family business are called co-parceners. 

Explanation: 

Co-parceners refer to the members or the common ownership of the ancestral property. In other words, the members of a Hindu undivided family business enjoy common ownership in the ancestral property; therefore, they are called co-parceners.

Promoter entering into a contract with third parties on behalf of the company before incorporation is called as Preliminary Contracts.

Public and Private companies having share capital and which are incorporated after 2nd November 2018 need a Certificate of Commencement of Business.

Commencement of Business: Public companies and private companies not having share capital can commence their business after getting an Incorporation Certificate. But, companies having share capital and which are incorporated after 2nd November 2018 have to obtain a Certificate of Commencement of Business.

Steps in Certificate of Commencement of Business:

(i) Filing of a declaration by Directors:

Every Director has to file a declaration along with the prescribed fees declaring that he has paid the value of shares agreed to be taken by him. Such declaration should be verified by Company Secretary or Chartered Accountant or Cost Accountant. Such declaration should be submitted within 180 days from the date of incorporation.

(ii) File verification of Registered Office: 

The company has to also file verification of its registered office with the ROC.

(iii) Obtain license or approval from Sectoral Regulator:

Companies that propose to conduct banking business, insurance business, or proposed to be listed on Stock exchanges need to register with Sectoral Regulators like RBI, Securities and Exchange Board of India, etc. Such companies must submit approval received from Sectoral Regulator to ROC.

(iv) Commencement of business: 

After filing the required documents, RQC issues the Certificate of Commencement of Business. Public and Private companies having share capital can now start their business or start the collection of capital. A public company can now issue a prospectus to invite the public for subscribing to its share capital.

It means that a person has to act in good faith and trust which is put upon him by another person.

Eg. Promoters have fiduciary duties towards the company they are setting up. It means they have to act in a manner that protects and promotes the interest of the proposed company.

Correct option is  (a) Ten

A sole trading concern ensures maximum business secrecy.

Explanation: 

The proprietor is the sole owner of the business; therefore, all decisions are taken by the proprietor himself. All business-related information remains with the owner. Further, it is the prerogative of the proprietor to share business information with others. Thus, a sole proprietorship guarantees maximum secrecy.

While selecting the place of business locality is important. 

Explanation: 

Availability of raw material, labor, modes of transportation and other facilities are important for any business. Thus, while selecting the place of business, it is important to consider the locality and ensure that all these components are easily available.

The Maharashtra State co-operative societies Act came in force in 1960. 

Explanation: 

In 1960, the Maharashtra State Co-operative Societies Act was passed. All co-operative societies in Maharashtra are required to register themselves under the Maharashtra State Co-operative Societies Act.

Correct Answer is: (c) Sole proprietorship

Correct Answer is:(d) Two

Correct option is (a) Mumbai

1. A Registration firm can file a suit in the court of law against third party. But it is not possible in case of an unregistered firm. 

2. A registered firm can file a case against the other partners against the loans they owe to the firm. 

3. The third parties can file a case against an unregistered firm for the recovery of lo

4. Any partner can file a case against the firm or other partners for the dissolution of the firm or the settlement of accounts.

The person nominated on the board by a major/dominant shareholder is known as the nominee director

(i) As a company secretary

(ii) Audit

(iii) Promoter

1. Sole trading concerns.

2. 1932.

3. Ten (10).

4. Karta.

5. Hindu undivided family concerns.

(i) minutes

(ii) Managing Director

(iii) Chief Financial Officer

(iv) Whole Time Director

(v) Key Managerial Personnel

• Indian company prefers to appoint managing director rather than manager because Managing Directors holds dual authorities and he is able to influence the board of director in a better way.
• Manager need not be a director of a company while the managing director has to be director of a company,
• The company cannot have more than one manager, while it can have more than one managing director.
• Thus, Indian companies prefer to appoint a managing director than a manager.

As it is stated in the definition itself the Managing Director is entrusted with the substantial powers of management, which clearly indicates that he has been given certain important powers of routine business matters of a company.

The powers exercised by him are as follows:

• To act as a link between the Board of Directors and the managerial staff.
• To look after the management and administration of a company.
• To appoint the company employees.
• To participate in policymaking as well as policy execution.
• To sign contracts on behalf of a company.
• To decide about the investment of funds of a company.
• To receive remuneration from a company.

General duties depend on the size and nature of the business.

Some of the general duties are as follows:

• To provide guidance to the Board and Director with respect to their duties, responsibilities, and powers. 
• To represent before different regulators and authorities and discharge different duties under the Act. 
• To assist the Board in the conduct of the affairs of the company. 
• To assist and advise the Board in ensuring good corporate governance. 
• To perform all the duties that may be assigned by the Board from time to time.

Every listed company and the public company has a paid-up share capital of Rs. 100 crores or more and whose turnover is Rs. 300 crores or more, have to appoint a Woman Director.