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Published on: 13/05/2022
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latest Book back QuestionsDownload Tamil Nadu 12th Standard Commerce question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
Questions + Answers key
Take MCQ Commerce Test1.
Explain different types of open and secret types of voting.
2.
Describe the different types of resolutions which company may pass with suitable matters required for each type of resolution.
3.
Briefly state different types of company meetings.
4.
Discuss the liabilities of Company Secretary.
5.
Elaborate the functions of the Company Secretary.
1.
I. Open Procedure:
This type of voting has no secrey as the all the members assembled can see voting. There are two popular methods of open voting namely voice voting and voting by show of hands.
(a) By Voice : Voice voting is a popular type of voting in which the chairman allows themembers to raise their voice in favour or against an issue 'Yes' for approval and 'No' for rejection. Chairmnan announces the result of voice voting on the basis of strength of words shouted, It is an unscientific method. I cannot be Employed for deciding complex ssue.
(b) By show ot hands: Under this methed, the chairnan, requests the menbers to ratse their hands of those who are in favour of the proposal or Candidate andthen requeststhose are against. llhenthe chairmancounts the number of hands ralsed for 'Yes' and 'No' respectively can announce the result on the basis of hands counted,
II. Secret Procedure:
Secret procedure is adopted to decided certain vital issues. It is a popular voting methodtthat couldnaintain the secrecy of the voter.
(a) By Ballot : Under this system, ballot paper bearingserial number is given to the members to record their opinion by marking with the symbol or Shareholders have to cast their vote ina secret chamber and put the ballot paper into the ballot box. The votes are counted and the results are announced.
(b) Postal Ballot : Big companies or big associations having members scattered all over the country follow this method of voting. The members or voters fill in the ballot papers and return them in sealed covers which are opened when the ballot box is opened for counting the votes.
2.
There are broadly three types of resolutions, namely ordinary resolution, special resolution and resolution requiring special notice.
a) Ordinary Resolution:
An ordinary resolution is one which can be passed by a simple majority. i.e. if the members of votes cast by members, entitled to vote in favour of the resolution is more than the votes cast against the resolution.
Ordinary Resolution is required for the following Matters
(i) To change or rectify the name of the company
(ii) To alter the share capital of the company
(iii) To redeem the debentures
(iv) To declare the dividends
(v) To approve annual accounts and balance sheet
(vi) To appoint the directors
b) Special Resolution :
1. A special resolution is the one which is passed by a not less than 75% of majority.
2. Special Resolution is required for the following Matters
(i) To change the registered office of the company from one state to another
(ii) To change the objectives of the company
(iii) To change the name of the company
(iv) To alter the Articles of Association
(v) To commence any new business
c) Resolution requiring Special Notice :
There are certain matters specified in the Companies Act, 2013 which may be discussed at a general meeting only if a special notice is given at least 14 days before the meeting.
3.
Kinds of Meetings : Under the companies Act 2013, company meetings can be classified as under :
1. Meetings of Shareholders
(a) Statutory Meeting
(b) Annual General Meetings
(c) Extraordinary General Meetings
2. Meetings of the Directors
(a) Board meetings
(b) Committee meetings
3. Special Meetings
(a) Class Meetings
(b) Creditors and of Debenture / bond holders meetings
1. Shareholders meetings :
The meeting held with the shareholders of the company is called shareholders meeting. The shareholders meeting can be classified as statutory meeting, annual general meeting and extra ordinary general meeting.
2. Meeting of the Board of Directors :
Since the administration of the company lies in the hands of the board of directors, they should meet frequently for the propper conduct of the business and to decide policy matters of the company.
3. Special Meetings :
(i) Class Meetings : Meetings, which are held by a particular class of share or debenture holders e.g. preference shareholders or debenture holders meetings is known as class meeting.
(ii) Meetings of the Creditors : Strictly speaking, these are not meetings of a company. lt is the meeting which are held by the creditors.
4.
A company secretary is legal bound to following liabilities
(i) Register all files and documents of the company.
(ii) Arrange annual general meeting in due time.
(ii) Sending notice of the meeting to the participant
(iv) Issuing share certificates, dividend warrant and bonus shares certificates to the shareholder.
(v) Appointing company auditor and arranging audit of books of account by the Company.
(vi) Abide by all terms and conditions of service contract
(vii) Follow the order instructions and act as per authorization of the board of director.
(vii) Maintain securely of the company affairs.
(ix) Perform duties with due care and skills.
(x) Submitting income tax returns and ensures use of required company seal and stamp.
5.
Functions of the company secretary may be discussed under two headings
(i) Statutory functions / duties
(ii) Non-statutory functions/duties
(i) Statutory function
As the principal officer of the company, the secretary must observe all legal formalities in respect of the provisions of the Companies Act and other laws (eg) Income-tax Act, Stamp Act, Sales-tax Acts, etc.) which have a bearing on the activities of the company.
(ii) Non-statutory function
Secretary has to discharge non-statutory functions in relation to directors, shareholders and office and staff. These functions are briefly mentioned.
(i) Functions as agent of directors;
(i) Functions towards shareholders;
(iii) Functions towards office and staff.
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Tamilnadu Stateboard 12th Standard Subjects

Maths

Chemistry

Physics

Biology

Computer Science

Business Maths and Statistics

Economics

Commerce

Accountancy

History

Computer Applications

Biology

Computer Technology

Computer Applications

Computer Science

Business Maths and Statistics

Commerce

Economics

Maths

Chemistry

Physics

Computer Technology

History

Accountancy

Tamil

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