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Question
State whether the following statement is true or false.
For secured deposits, company has to create a charge on its tangible assets.
Options
True
False
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Solution
True
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RELATED QUESTIONS
Answer in one sentence.
When does a company create charge on it’s tangible assets?
Select the correct answer from the options given below and rewrite the statement:
Deposit is a type of ______________________.
Write a word or a term or a phrase which can substitute the following statement.
A company which can accept deposits from its members, directors, or their relatives not exceeding 100% of aggregate of paid up share capital and free reserves.
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.
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.
Time within which company has to issue deposit Receipt
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.
Company appoints Credit Rating Agency to protect the interest of depositors.
State whether the following statement is true or false.
Deposit Trust Deed is an agreement between company and Deposit Trustee
Correct the underlined word and rewrite the following sentence.
Minimum tenure of deposit is 36 months.
Explain the following term/concept.
Deposit Trustee
Explain the following term/concept.
Deposit Insurance
Explain the following term/concept.
Deposit Repayment Reserve Account.
State any four terms and conditions regarding acceptance of deposit.
Justify the following statement
While issuing secured deposits, company has to appoint Deposit Trustee.
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.)
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
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?
