SECRETARIAL PRACTICE PAPER TWO FOR MAHARASHTRA STATE BOARD STUDENTS SYJC AS PER NEW PAPER PATTERN

Secretarial Practice

AS PER NEW PAPER PATTERN

MARKS: 80 | TIME: 3 HRS

Q.1 (A) Select the correct answer from the possible options given below and rewrite the statements: 5 Marks

1. Big retail stores require large amount of __________ capital. (Fixed, Working, Loan)

2. Preference shares carry dividend at _________ rate. (Fixed, fluctuating, Lower)

3. Transfer of shares by operation of law is called _________ (Issue of shares, Allotment of shares, Transmission of shares)

4. A company must give receipt to the depositor within ____________of its acceptance. (1 weeks, 4 weeks, 8 weeks)

5. Every company is required to invest__ % of its total value of deposits repayable in the next accounting year in liquid assets. ( 10, 15, 20)

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Q.1 (B) Match the correct Pairs: 5 Marks

Match the items in Group A with the correct items in Group B.

Group A	Group B
1. Depository in India	1. Less application for shares than expected.
2. Fixed Capital	2. SEBI.
3. Under Subscription	3. Investment in current assets.
4. Debenture Holder	4. Owner of the company.
5. Interim Dividend	5. Creditor of the company.
	6. More application for shares than expected.
	7. NSDL.
	8. Investment in fixed assets.
	9. Declared at AGM.
	10. Declared between two AGM.

Click to View Correct Matches

1. Depository in India → 7. NSDL

2. Fixed Capital → 8. Investment in fixed assets

3. Under Subscription → 1. Less application for shares than expected

4. Debenture Holder → 5. Creditor of the company

5. Interim Dividend → 10. Declared between two AGM

Q.1 (C) Write a word or a phrase or a term which can substitute each of the following statements: 5 Marks

1. A notice given by a company to the transferor and transferee on submission of an instrument. (Notice of Lodgement)

2. The dealer in stock exchange who carries on trading of securities in his own name. (Jobber)

3. Dividend declared by company between two annual general meeting. (Interim Dividend)

4. The equity shares of the companies which are issued to the existing equity shareholders. (Right Issue)

5. The company which is promoted by IDBI, ICICI, LIC, GIC and its subsidiaries, commercial banks, SBI capital market limited. (NSE)

Q.2 Distinguish Between: (Any three) 15 Marks

1. Shares V/S Stock.

2. Forfeiture of shares V/S Surrender of Shares.

3. Dividend V/S Interest.

4. Interim dividend V/S Final Dividend.

5. Money market V/S Capital Market.

Q.3 Write short notes: (Any three) 15 Marks

1. Importance of Financial Planning.

2. Features of Shares.

3. Types of preference Shares.

4. Procedure for issue of shares.

5. Need and importance of depository.

Q.4 State with Reasons whether the following statements are True or False: (Any three) 15 Marks

1. No company with net owned funds of less than 5 crore shall invite deposits.

View Answer

False

Reason: As per the Companies Act 2013, to invite deposits from the public, a company must be an 'Eligible Public Company' with a net worth of not less than ₹100 crores or a turnover of not less than ₹500 crores. The limit is not 5 crores for public deposits.

2. Maximization of profits is real and complete motive.

View Answer

False

Reason: Profit maximization is not the sole or complete objective. It is often short-term and ignores the 'Time Value of Money' and risk factors. Wealth maximization (maximizing the market value of shares) is considered the real and complete motive.

3. A shareholder can increase the percentage of final dividend recommended by the directors.

View Answer

False

Reason: The Board of Directors recommends the rate of dividend. The shareholders, at the Annual General Meeting, can approve or reduce the rate, but they cannot increase the percentage of dividend recommended by the directors.

4. DP is the representative of the depository.

View Answer

True

Reason: The Depository Participant (DP) functions as an agent or representative of the Depository (NSDL or CDSL). It acts as a link between the investor/beneficial owner and the Depository.

5. A company can accept deposits payable on demand.

View Answer

False

Reason: According to the Companies Act, a company cannot accept deposits which are repayable on demand. Deposits must be accepted for a fixed tenure, which should be a minimum of 6 months and a maximum of 36 months.

Q.5 Answer the Following: (Any two) 10 Marks

1. Bonus shares.

2. Bombay stock exchange.

3. What are the role and power of SEBI?

4. Trade credit.

5. Explain the provision on share certificate.

Q.6 Long Answer Question

Define Dematerialization of shares? Explain its procedure?

OR

What are the procedures for ascertainment of dividend?