Explore topic-wise InterviewSolutions in Current Affairs.

Convex mirror.

1. True

2. True

Convex mirrors.

A concave mirror is used in the headlight of a car because concave mirror is a converging mirror. In headlights the bulb is kept at the focus of the mirror, due to which the rays emerging from the bulb after reflection from the mirror becomes parallel to the principal axis hence we get the powerful beam of light which can go to farther distances.

Concave mirror, to get the parallel beam of light.

(i) Rear view mirror in vehicles – convex mirror as it gives virtual image, diminished and cover the wider view. 

(ii) Solar furnace – concave mirror to concentrate all parallel beam of light. 

(iii) Torch – concave mirror is used. 

(iv) Solar cooker – concave mirror is used to concentrate the heat rays at a point. 

(v) Convex mirror is used to view a full length tall building.

Public sector organisations are those organisations which are setup by the government with the main object of providing essential services to the general public.

Convex mirror as the image is independent of position of the object.

When it gets registered.

A Multi National Company (MNC) is a huge industrial organisation which:

1. Operates in more than one country. 

2. Carries out production, marketing and research activities on international Scale in those countries.

3. Seeks to maximise profits world over.

Examples: Micro Soft Corporation, Nokia Corporation, Nestle, Coca – Cola, International Business Machine, Pepsico, Sony Corporation.

Correct option is (b) Special Statute

To uplift the weaker sections of the society economically through co-operation among society members.

According to Section 2(36) of the Companies Act, any document inviting the public to buy its shares or debentures comes under the definition of prospectus. It also applies to advertisements inviting deposits from the public. Aprospectus is “the only window through which a prospective investor can look into the soundness of a company’s venture”. 

Hence it must specify at least the following matters as per Schedule II:

1. The prospectus contains the main objectives of the company, the name and addresses of the signatories of the Memorandum of Association and the number of shares held by them. 

2. The name, addresses and occupation of directors and managing directors.

3. The number and classes of shares and debentures issued. 

4. The qualification share of directors and tfye interest of directors for the promotion of company. 

5. The number, description and the document of shares or debentures which within the two preceding years have been agreed to be issued other than cash.

Correct option is (c) entrepot

1. The Co-operative Society is a voluntary association of persons formed for the purpose of promoting the interest of its members. It is different from all other organizations. 

2. The main objective of a co-operative organization is not to make profit but to give service to its members. 

3. The co-operative society is formed for the welfare of the people. 

4. Co-operative societies are rightly called as service oriented organization. Maximisation of profit is not the aim.

5. Thus, the main objective of Co-Operative society is to provide services to its members.

Contents of Articles of Association (AOA):

1. Amount of shares, capital, value and type of shares. 

2. Rights of each class of shareholders regarding voting, dividend, return of capital. 

3. Rules regarding issue of shares and debentures. 

4. Procedures as well as regulations in respect of making calls on shares. 

5. Manner of transfer of shares. 

6. Declaration of dividends. 

7. Borrowing powers of the company. 

8. Rules regarding the appointment, remuneration, removal of directors. 

9. Procedure for conducting proxy, quorum, meetings etc., 

10. Procedures concerning keeping of books and audits. 

11. Seal of the company. 

12. Procedures regarding the winding up of the company.

A Joint Stock company is an incorporated association, which is an artificial person created by law, having a separate name, a separate legal entity, and a perpetual succession.

Correct option is (a) Government

Articles of Association is a document that describes the internal rules and regulations to manage the company.

Government provides assistance to the society for conducting activities based on service and betterment of members. It provides this assistance in the form of loan, grant and subsidy.

The minimum number of directors in a public company are three. 

Explanation: 

A public company needs to have at least three directors. On the other hand, a private company must have at least two directors.

Features of Co-operative Society:

(i) Meaning: Co-operative society is a voluntary association of persons, formed to provide services and economic welfare to its members.

(ii) Registration: The registration of a Cooperative society is compulsory in the state of Maharashtra, under Maharashtra State Cooperative Societies Act, 1960.

(iii) Membership: Membership of a Cooperative Society is open to all. Any person of sound mind can enter in Cooperative society.

(iv) Number of Membership: Minimum ten members are required and maximum there is no limit to join Co-operative Society.

(v) Liability: Members of the Cooperative society carry limited liability. The personal property of a member cannot be used for liability or debts of the society.

(vi) Aim of society: Generally, another form of business organization has its aim as profit. But, a Cooperative society has no aim of maximization of profit. They are formed with an aim of providing service and economic welfare to the members.

(vii) Legal status: Co-Operative societies are formed under a specific act, so they enjoy independent legal status different from its members.

(viii) Management: Management in a Cooperative society is based on the principle of ‘Democracy’. Shareholder/member enjoys equal voting right to decide management authority. ‘One Person One Vote’ principle is followed by the Cooperative society. 

(ix) Government control: There is strict Government control and supervision on working of Co-operative society. Generally, the state Government controls the activity of Cooperative society.

A cooperative society is a voluntary association of persons formed to achieve certain economic objectives and is governed under Maharashtra State Co-operative Societies Act, 1960. The nature of such a society is service-oriented.

Each member of Co-operative Society has gets an equal right and opportunity to vote, contest an election of executive committee, participate in management, etc.

Liability of members is limited to the value of shares they have purchased.

Correct option is (a) 51%

The minimum amount of paid up capital for public company is five lakhs. 

Explanation: 

According to Section 3(I)(4) of the Companies Act 1956, the minimum amount of paid-up capital for a public company is five lakhs. Whereas, it is 1 lakh in case of private company.

The merits of a Co-operative Society are as follow: 

(i) E asy Formation: It is easy to form a Cooperative organisation. Minimum ten members are needed to form the organisation. It does not involve much legal formalities. It is compulsory to register the organisation. However, the procedure for registration is simple and the fees are nominal.

(ii) Tax Concession : Co-operatives always get support of the government. As they play an important role in economic and social development, government gives them concessions in payment of tax.

(iii) Open Membership : Membership of a Cooperative organisation is open to all. A person can become a member by purchasing shares. No difference is made on the basis of language, religion, caste, etc. A person can become a member whenever he wants and terminate membership at his own will. Membership is voluntary.

(iv) Stability : A Co-operative organisation enjoys a long and stable life. The life of the organisation is distinct from the life of its members. If any member dies, becomes insolvent or insane, business is not closed.

(v) Self Financing and Charity : After providing 15% dividend to members, surplus amount is used for self-financing by the Co-operative Societies. Some amount of leftover profit is used for charity, social activities and for the growth of the cooperative society.

(vi) Less O perating Expenses: Cost of operation is low as salary is not paid to members who manage business. Members of Co-operative organisations work on honorary basis. They are not given any remuneration for their services. There are no expenses on advertising and publicity. This helps to increase profit.

(vii) Limited Liability : The liability of members is limited. It depends upon the value of shares purchased by members. Therefore, people are interested in investing in a Co-operative organisation.

(viii) Democratic Management: Democracy is followed in the management of co-operative organisation. All members are equal. The principle of “One member One vote” is followed. Members elect representatives who form the managing committee. They work according to bye-laws. The managing committee looks after day to day administration. Decisions are taken collectively in meetings. 

(ix) Supply of Goods at Cheaper Rate : Goods are sold at lesser price through a Co-operative store. This is because the organisation is service – oriented. The store does not make use of services of middlemen and there are no expenses on advertising. So goods are sold at cheap rates.

Government company

The minimum of members allowed in a co-operative society is 10. 

Explanation: 

A co-operative society can be formed with a minimum of 10 members. There is no maximum limit on the number of members in a co-operative society

‘Limited’; For example, National Insurance. Company Limited.

The minimum number of persons required to form a co-operative society (b) 7.

A company where in the members work as guarantors and guarantees to pay the amount guaranteed by them during liquidation of the company is called company limited by guarantee.

A company where in there are minimum 2 members and maximum 200 members, who raises its capital on its own or through banks, etc. and whose shares cannot be transferred easily is called a private company.

(d) All of the above

A company in which the liability of members is unlimited i.e. they may even have to sell their personal assets in case company cannot pay its debts is called company with unlimited liability.

The central value representing the majority of the values/frequencies is called Average.

Merits: 

• It is rigidly defined 
• It is not affected by extreme values 

De-merits: 

• It is not based on all observations 
• It has no sampling stability

1. One of the main features of a sole traders is unlimited liability. 

2. If the sole trader becomes insolvent and if his business assets are insufficient to pay off his business debts, he will have to use his private property in order to pay off his creditors. 

3. There is no distinction between business property and private property in case of a sole trading concern. 

4. Thus, liability of a sole trader is unlimited.

Arithmetic mean

• Median 
• Mode 
• Geometric mean 
• Hormonic mean

In any frequency distribution most of the frequencies are concentrated at the centre, this property of concentration of the frequencies around the centre is called Central tendency. The central value representing the majority of the frequencies/values is called Measure of central tendency or Average.

Merits: 

It is simple to calculate and easy to understand 

It is rigidly defined/It is based on all values. 

Demerits: 

It is.affected by extreme values of the data. 

It cannot be easily calculate for the distribution with openend class interval.

• It is rigidly defined 
• It is based on all values of the data 
• It should not be affected by the extreme values of the data 
• It should have the sampling stability 
• It should be capable of further statistical analysis

• It is rigidly defined. 
• It is simple to understand and easy to calculate 
• It should be based on all values of the data 
• It should not be affected by the extreme values of the data 
• It should have sampling stability 
• It should be capable of further statistical analysis