Select the correct answer from the options given below and rewrite the statements.
1. Deposit is a type of …………………………………………. .
a) Owned capital b) Short term loan c) Long term loan
Ans:- b) Short term loan
2. Eligible public company and Government Company can collect deposits from …………………….
a) It’s employees b) Public c) RBI
Ans:- b) Public
3. Private company can accept deposits from its member or Directors upto not more than ………………. % of its aggregate of paid-up share Capital and free reserves.
a) 100 b) 35 c) 25
Ans:- a) 100
4. A ………………………………….. Company can accept deposits from public not exceeding 35% of its paid-up share Capital and free reserves.
a) Government b) Private c) Eligible Public
Ans:- a) Government
5. Deposit can be accepted for a minimum of 6 months and maximum for …………. months.
a) 36 b) 3 c) 30
Ans:- a) 36
6. Company issues ……………………………………. to invite its members to subscribe for its deposit scheme.
a) Advertisement b) Circular c) Newspaper
Ans:-b) Circular
7. Company can issue circular or advertisement for inviting deposits after …………. days of filing it with Registrar of Companies.
a) 30 b) 21 c) 7
Ans:- a) 30
8. Company has to appoint ………………………………. to protect the interest of depositors.
a) Debenture Trustees b) Deposit Trustees c) Credit Rating Agency
Ans:- b) Deposit Trustees
9. Charge on assets is to be created when a company issues ……………………
a) Unsecured deposit b) Unsecured Debenture c) Secured deposit
Ans:- c) Secured deposit
10. Deposit Receipt is issued within …………. days of receipt of deposit.
a) 7 b) 30 c) 21
Ans:-c) 21
11. For premature repayment of deposit, company deducts …………………… % of interest.
a)1 b) 18 c) 20
Ans:-a)1
12. Return of deposit must be filed every year on or before ……………………
a) 30th June b) 31st March c) 30th April
Ans:- a) 30th June