COMMERCE : FILL IN THE BLANKS

Business means _______________

____________ organization is essential for the success of a business.

The word "organization" has originated from the word ________________.

Scalar Principle is also known as _______________

_______________ means entrustment of part of the work or some duties to the sub ordinates.

______________ creates obligation on the part of the sub ordinate.

_______________ should be the watchword of the organization.

Machine age emerged resulting in ________________ production.

_______________ is stated to be the oldest of all the forms of business enterprises.

Any business unit which is owned and controlled by a single individual is known as ________________.

The sole trading concern is run on the principle _________________________________.

The head of joint hindu family is called ______________.

Joint Hindu Family System is regulated by the provisions of _______________.

Since __________, female members of the family are also eligible to get a share in the property of the family.

According to ________________ Law, only the male members of the family get the right of inheritance by birth.

According to _________________ Law, the right of property devolves on the coparceners by succession and not by birth.

Partners share profit or loss is an __________________.

Persons who enter into partnership with another are called ________________.

A company is regarded as _______________.

The liability of a shareholder is ________________.

A company is an ____________ person.

Division of work is called _______________.

In India, registration of partnership is _________________.

A cooperative society is a _________________ association of persons.

In cooperative society all members are _____________.

Cooperative society is managed on _______________ principles.

The business of a cooperative society is generally carried on ___________ basis.

Unilever Limited is a _____________ company.

Union Carbide is a _____________ company.

Government policy is favourable towards ________________.

_______________ is the oldest form of organization of state enterprise.

Public corporation is also known as _______________.

The main objective of public corporation is ________________.

RBI is an example of ________________.

Government Company is also known as __________.

Government company employees are not __________________.

Broadcasting comes under _________________ form of organization.

The liability of members of cooperative society is _______________.

A ______________ is the oldest form of business organization.

__________________ business is not governed by any special legislation.

A sole trader business can be commenced with ______________ capital.

Sole proprietorship is a highly ____________ type of organization.

A sole trader has direct relationship with the ________________.

_______________________ is a major handicap for sole trader business.

______________ are the kings.

The life of sole trader business depends upon the life of the _______________.

The maintenance of utmost ______________ is of vital importance for the success of a business.

The resources of a sole proprietor are ________________.

______________________ may hinder the growth of sole proprietorship.

Sole proprietorship is suitable for ___________________ concerns.

_______________ decide the success of a business.

Sole trader organization provides a chance for ______________ investors.

In sole proprietorship, decisions are taken ______________.

The name under which the business is carried on is called ______________

_____________________- means putting an end to the relationship among the partners.

An ______________ is a right vested with a partner to be used in emergency situations.

The partners liability in India is ________________.

A partner who does not take active interest in the conduct of the firm is called ________________.

Partnership is registered under the Act ____________________________

The maximum number of members in non-banking firm is _____________.

Persons who enter into partnership are collectively called _______________.

_____________________ means the termination of the original partnership agreement.

__________________ is a temporary partnership.

According to __________________, "Partnership is the relation existing between persons, competent to make contracts, who have agreed to carry on a lawful business in common with a view to private gain."

According to ____________________________, "A partnership or firm as it often called, is thus a group of men who have joined capital or services for the prosecuting of some business."

The relation that exists between the partners in a partnership is said to be _________________.

A collective name of partners is known as _________________.

Every partner as an agent can bind the firm by his acts done in good faith and on behalf of the firm. This is known as ________________________.

The resources of partnership firm is _______________.

_________________ liability discourages many people from becoming a partner in the firm.

______________ is a partnership which is formed to carry on business without specifying any period of time.

________________ is a partnership which is established for a stipulated period of time or for the completion of a specified venture.

The limited partnership consists of two types of partners, _______________________ and _____________________________.

Sleeping partner is also known as _______________.

The liability of active partner is _______________.

Nominal partner is also called as ________________.

__________ is a partner who neither contributes capital nor takes any part in the management of the firm.

____ is a partner who lends his name to be used as partner in the business to increase the reputation of the firm.

When a person makes an arrangement with a partner to share this profit, he is known as _______________ partner.

On attaining majority the minor partner has to decide within _______________ months, by giving notice whether he shall continue in the firm or not.

_____________duties are fixed by law which cannot be violated by partners agreement.

____________ duties given in the Act can be modified by agreement of partners entered into.

The authority of a partner to bind the firm is called __________________.

Dissolution of firm necessarily results in ________________.

According to Section ___________, a partnership is created and dissolved by an agreement.

When a partner becomes permanently incapable of doing business the court may order _____________________.

The term 'company' refers to a _______________________.

The liability of a member of a joint stock company is ________________ to the amount remaining unpaid on shares.

Management of a company is entrusted to _______________________.

Joint stock company requires _________________ capital.

Registration with the Registrar of Companies is _________________________.

The minimum number of members in a private company is __________.

The minimum number of members in a public limited company is _____________.

Companies established as a result of a charter granted by the King or Queen of a country are known as ___________________________.

Tata Motors Limited are examples of __________________ companies.

The liability of a member of a company limited by guarantee is ________________.

_________________ means a company incorporated outside India but having a place of business in India.

A company, the members of which not less than fifty one percent of the paid-up share capital is held by a State Government, is known as _______________ company.

The company, which need not have Articles of Association of its own is _______________ company limited by shares.

A ________________ limited company is a company which has a minimum paid up capital of rupees one lakh or such higher paid up capital, as may be prescribed.

A private limited company can commence business on getting the _____________________.

A private company should have atleast ____________ directors.

A private company is exempted from holding a _________________ meeting.

A public company should have at least ___________ directors.

A public limited company should hold statutory meeting within __________ months from the date of the commencement of business.

The minimum number of members to be present in a meeting to constitute a valid meeting in a private company is ____________.

The minimum number of members to be present in a meeting to constitute a valid meeting in a public company is _____________.

In a public limited company, the overall managerial remuneration shall not exceed ____________ of the net profits.

_______________ is a person who gets the idea of starting a company and undertakes all the preliminary work necessary for its formation.

________________________ is a document which is of fundamental importance defines the scope of activities of the company.

___________________ is a document which contains the regulations connected with the internal management of the company.

______________________ contains the fundamental conditions upon which alone the company is allowed to be incorporated.

Situation clause is also known as __________________

____________ clause defines the state in which a company has its registered office.

_______________ clause states the activities of the company.

Association clause is also known as ________________.

A _________________ company is prohibited from issuing a prospectus.

_______________ is a document issued by a company inviting the public to buy shares or debentures.

______________ serves as a "window" through which a prospective investor can look into the soundness of a company's ventures.

___________________ is the subordinate to Memorandum of Association.

The manner in which the internal management of a company is carried on is contained in ________________________.

_________________ shares focus certain preferential rights over other types of shares.

Preference shares which carry a right to arrear dividend are known as ___________________.

Redeemable preference shares can be redeemed if they are fully ____________.

________________ are known as ordinary shares.

________________ are entitled to get dividend only after the fixed rate of dividend is paid to preference shareholders.

_____________________ are entitled to vote on all resolutions.

_______________ means acceptance by a company of the offer made by an applicant to take shares.

Allotment must be done within _____________ from the date of resolution passed by the Board.

Minimum subscription must be received within __________ days from the date of prospectus.

If minimum subscription is not received within 90 days of the issue of the prospectus, money received on application must be _____________.

For allotment of shares, the allotment committee of the company should take into account the guidelines given by __________________.

__________________ is an evidence of title to the shares.

Share certificate must be issued within ______________ months from the date of allotment of shares.

A call can be made only in pursuance of a __________________ resolution.

_________________ refers to confiscation of shares held by a member for non-payment of calls due.

The forfeited shares can be reissued at a ______________.

Forfeited shares can be reissued only by the _______________ resolution.

Issue of shares at _________________ means that the issue price is higher than the face value of the shares.

Share premium is usually collected along with ________________ money.

Shares issued at discount should be sanctioned by ___________________.

The share discount should not exceed ______________ of the nominal value of share.

The aggregate nominal value of qualification shares shall not exceed _____________ rupees.

When a company has issued shares of Rs. 6000 each only, the minimum number of qualification shares that a director should hold is ________________.

_____________ refers to a document which either creates a debt or acknowledges it.

Secured debentures are also known as ___________________.

Debenture holder is a _____________ of the company.

Shareholders are ____________ of the company.

Dividend paid is an appropriation of _______________.

__________ have no charge on the assets of the company.

Interest charged is a charge on the ____________.

A company is a _____________ person.

Such shares, as are entitled to a further dividend in addition to the usual fixed rate of dividend are known as _______________________.

Debentures denote ___________________ interest.

Directors act as _________trustess and officers of the company.

The share holders are the real ______________ of the company.

First directors are usually named in the ____________.

Statutory meeting must be held not later than _____________ and not earlier than __________ from the date on which a public company is entitled to commence business.

A statutory report must be sent to every member of the company atleast _______________days before the meeting is to be held.

The time between two consecutive annual general meetings should not exceed _______________ months.

Altering the Articles of Association requires ___________ Resolution.

A person Appointed to attend a meeting on behalf of a share holder is known as ______________

The minimum number of members required for a meeting is known as __________________

Auditors are generally appointed and their remuneration, fixed at the ______________ meeting.

The notice calling the annual general meeting, must, be given to all its members at least _______________ days before the date of the meeting.

A person can hold office as director in not more than ___________ public limited companies.

A director can be removed from office by the company by an ______________________ resolution before the expiry of his term.

A person cannot act as a managing director of more than _____________ companies at a time.

The remuneration should not exceed _________ of the annual net profits is there is one managing director.

Maximum remuneration payable to a manager cannot exceed ___________ of the annual net profit.

The overall maximum managerial remuneration in a public limited company shall not exceed _______________ of net profits.

A company cannot have more than _________ manager(s).

According to _____________________________, a company secretary is a person who is a member of the Institute of Company Secretaries of India.

A company secretary is appointed by the ________________________.

A company should compulsorily appoint a qualified company secretary, having a paid up capital of more than _________________.

An assembly of relevant persons validly convened through proper notice for transacting business mentioned in an agenda is known as a __________________.

The first meeting of the shareholders of a public limited company is known as _________________________.

The first annual general meeting must be held within a period of ____________ months from the date of incorporation of company.

All other business transacted at annual general meeting are called _____________________.

If a company fails to hold an annual general meeting, the company and every officer who is in default shall be punishable with a fine upto _________________.

Any meeting other than the statutory meeting and the annual general meeting of the company is called _______________________.

___________________ is a meeting which is convened for transacting any urgent or special business which cannot be postponed till the next annual general meeting.

Declaration of dividend is done at the __________________ meeting.

A member can appoint more than _____________ proxy(ies).

The quorum is fixed by the ___________________.

For calculating quorum, ________________ should not be counted.

______________ must be present throughout the meeting.

A proposal placed before the meeting is passed is called ________________.

__________________ means the list of business to be transacted at the meeting.

There are ____________ types of resolutions.

Any resolution passed by a simple majority is an _________________ resolution.

Appointment of auditors requires ________________ resolution.

_______________ is a resolution which is required for transacting any special business.

A resolution passed by 3/4th majority is called ___________________.

Altering the objects clause in memorandum requires __________________ resolution.

Reducing share capital requires ________________ resolution.

Appointment of an auditor other than a retiring auditor is done by resolution requiring ___________________.

______________ means expressing one's intention either for or against a proposed resolution called motion.

Income Tax Act was passed in the year ____________.

Manager cannot be appointed for a period exceeding ____________ years at a time.

_______________ acts as a spokesperson of the company.

The term ______________ refers to accurate official record of decisions taken at various company meetings.