The Institute of Company Secretaries of India 2009 CS Foundation Elements of Business Laws and Management (New ) - Question Paper

2009 The Institute of Company Secretaries of India CS Foundation: Elements of Business Laws and Management (New Course): December 2009 University ques. paper

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Time allowed : 3 hours

Total number of printed pages : 4

PART-A

(Answer Question No.1 which is compulsory and any two of the rest from this part.)

1 a) State, with reasons in brief, whether the following statements are correct or incorrect.

Attempt any five :

i All contracts are agreements, but all agreements are not contracts.

Vi An unpaid seller has a right to withhold the delivery of the goods and right of resale also.

ii) As per the Indian Partnership Act, 1932, every partnership firm must be registered with the Registrar of Firms.

iv) Both 'promissory note' and 'bill of exchange' are two party instruments under the Negotiable Instruments Act, 1881.

V) Perpetual succession means that the identity of the members does not affect the legal existence and identity of a company.

Vi) As the source of Indian law, customs having sanction are those customs which are enforced by the State.

Vii) In a sale, the property in the goods sold passes to the buyer at the time of contract so that he becomes the owner of the goods, in real sense.

(2 marks each)

V) Re-write the following sentences after filling-in the blank spaces with appropriate

wcEd(s)/figure(s) :

i) There are _parties to a cheque.

Vi A private limited company cannot have more than _ members

excluding present and ex-employees.

Viii) A minor cannot be admitted to the partnership as a partner without the

the partners.

iv) Wagering agreements are

states that it is for the buyer to satisfy himself that

the goods which he is purchasing are of the quality which he requires.

1 mark each)

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(C State the duties of a Company Secretary which he should perform under the Income-tax Act, 1961.

(5 marks)

2.    Distinguish between any three of the following :

'Fraud' and 'innocent misrepresentation'.

(i 'A bill of exchange' and 'a cheque'.

ii 'Condition' and 'warranty'.

iv) 'Private company' and 'public company'.

(5 marks each)

3.    Attempt any three of the following :

0 What is quantum meruit ?

(5 marks)

(i What is 'crossing of a cheque' ? Explain in brief the various methods of crossing of a cheque.

(5 marks)

ii) What is meant by 'memorandum of association' ? Enumerate its clauses.

(5 marks)

(i) a Amar advances a loan of Rs.50,000 to Baljeet, and Sumeet promises to Amar that if Baljeet does not repay the loan, then he will do so. State who is a principal debtor, creditor and surety or guarantor in this case.

(3 marks)

b) What is a 'statutory meeting' ?

(2 marks)

4.    Attempt any three of the following :

i) "Without consideration a contract is void." Discuss. Briefly state its exceptions.

(5 marks)

(i Amar delivers some cotton bales to Bharat on 'sale or return basis'. Bharat, then delivers the same goods to Chandan and Chandan further delivers it to Dhruv on the same terms and conditions on which Amar delivers to Bharat. Before Dhruv could give his acceptance, goods are suddenly destroyed by fire. Who is to bear the loss under these circumstances ? Give reasons in support of your answer.

(5 marks)

ii) Distinguish between an 'annual general meeting' and an 'extra-ordinary general meeting'.

(5 marks)

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(i) Dhani guarantees to Mani the payment of a bill of exchange by Zora, the acceptor. The bill is dishonoured by Zora. Is Dhani liable for the payment of interest on the amount of the bill due ?

(5 marks)

PART-B

(Answer Question No.5 which is compulsory and any two of the rest from this part.)

5. a State, with reasons in brief, whether the following statements are correct or incorrect. Attempt any five :

0 Recruitment and selection are the same.

(i Planning is a secondary function of management.

ii Both authority and responsibility can be delegated.

iv) Management is concerned with policy making, whereas administration is concerned with policy implementation.

V) Coordination is not a once for all exercise, rather it is an ongoing activity.

(v) Guiding, counselling and teaching the subordinates the proper way of doing the job is the directing function of management.

Vii) Morale is a tangible factor and not related to the conditions of an individual or group with regard to its determination, confidence and enthusiasm in the performance of duty.

(2 marks each)

b Re-write the following sentences after filling-in the blank spaces with appropriate word(s)/figure(s) :

The word motivation has been derived from the latin term_which

means to move.

(i) Henri Fayol, the French industrialist is popularly known as the_.

ii) The Hierarchy of Needs Theory of motivation was propounded by_,

a psychologist.

iv) A leader directs and_members of the group, by representing the

group to the outside world and outside world to the group.

v Budgeting and budgets have long been used as important tool for_

and controlling.

(1 mark each)

c Explain 'staffing functions'.

(5 marks)

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6. Distinguish between the following :

i 'Scientific management' and 'modern management'. (i 'Forecasting' and 'planning'. ii) 'Rule' and 'policy'.

7. Attempt any three of the following :

i) "Line organisation suffers from lack of specialisation." Discuss (i Elucidate the 'principles of direction'. ii) State the essential elements of a good 'control system'. iV "Leadership is situational." Discuss.

8. Attempt any three of the following :

i) Explain in brief 'zero based budgeting' (ZBB).

(i Enumerate salient features of 'organisation development'.

ii) Elaborate the 'communication process'.

iv) Briefly discuss 'crosswise communication'.

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2/2009/EBLM

Attachment: the-institute-of-company-secretaries-of-india-2009--6691-1.pdf

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