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Question
Answer in one sentence.
What is Deposit Repayment Reserve Account?
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Solution
Deposit Repayment Reserve Account is an account opened by company only for repayment of deposit money
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RELATED QUESTIONS
Write a word or a term or a phrase which can substitute the following statement.
Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.
Write a word or a term or a phrase which can substitute the following statement.
Maximum tenure of a deposit
Write a word or a term or a phrase which can substitute the following statement.
Period within which a company has to create a charge on its tangible assets
Write a word or a term or a phrase which can substitute the following statement.
Book which contains details of deposits accepted or renewed.
State whether the following statement is true or false.
Eligible public company can collect deposits from its members.
State whether the following statement is true or false.
A private company can collect deposits from public.
State whether the following statement is true or false.
Eligible public company can collect deposits from public not exceeding 35% of its paidup share capital and free reserves.
State whether the following statement is true or false.
Company appoints Credit Rating Agency to protect the interest of depositors.
Select the correct option from the bracket.
| Group 'A' |
Group 'B' |
|
a) Government Company |
1) ___________________ |
|
b) ___________________ |
2) Deposits from members |
|
c) 36 months |
3) ___________________ |
|
d) ___________________ |
4) Charge on tangible assets |
|
e) Return of deposit |
5) __________________ |
(File on or before 30th June, Private Company, Secured deposits, Deposits from public, Maximum tenure of deposits.)
Correct the underlined word and rewrite the following sentence.
Minimum tenure of deposit is 36 months.
Explain the following term/concept.
Charge on tangible assets
Explain the following term/concept.
Deposit Insurance
Answer in brief.
State the contents of circular or Advertisement for Deposit
Justify the following statement.
Company has to fulfill certain provisions related to issue of circular or advertisement.
Justify the following statement.
Companies have to create a charge on their tangible assets while issuing secured deposits.
Answer the following question:
Explain the provisions related to circular or advertisement for inviting deposits.
Find the odd one.
Select the correct option from the bracket.
| Group ‘A’ | Group ‘B’ | ||
| a) | Retained earnings | 1 | ______ |
| b) | ______ | 2 | Written communication |
| c) | 36 months | 3 | ______ |
| d) | ______ | 4 | Charge on assets |
| e) | Cash sales | 5 | ______ |
(Less working capital, Correspondence, Secured debentures, Internal source of finance, Maximum tenure of deposits.)
Study the following case/situation and express your opinion.
| CC Company Ltd. is an eligible Public Company as per the Companies Act, 2013 with reference to accepting Public Deposits. |
- Can the company accept deposits in joint names?
- Can the company accept deposits from its members?
- Can the company issue secure deposits?
