Skip to content
← Commerce

Commerce · Class 12 Commerce

Ch 27Company Management — Class 12 Commerce, concept-first.

A company is an artificial person created by law, so it can act only through human agents. The Board of Directors is the group of persons elected by the shareholders to direct and control the company's affairs on their behalf, and it is the Board's decisions, taken collectively, that the law treats as the company's own…

33

Q&A

7

Concepts

Not available

Exam weightage

Start learning — read this chapter →

Key concepts

Hover a concept to preview it and jump to its most relevant Q&A.

Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

1

Board of Directors — Composition and Appointment

A company is an artificial person created by law, so it can act only through human agents. The Board of Directors is the group of persons elected by the shareholders to direct and control the company'…

2

Qualifications, Disqualifications and DIN

Not everyone who wishes to serve on a company's Board is legally permitted to. The Companies Act, 2013 sets out both a positive qualification for one special category of director — the Independent Dir…

3

Powers of the Board of Directors

Once validly constituted, the Board of Directors becomes the primary decision-making body of the company.

4

Board Meetings

Since many of the Board's most important powers can be exercised only through a resolution passed at a meeting, the law is precise about how often, and under what conditions, Board Meetings must be he…

5

Annual General Meeting and Extraordinary General Meeting

While Board Meetings let directors manage day-to-day affairs, general meetings are where the shareholders — the actual owners of the company — exercise direct oversight.

6

Types of Resolutions and Minutes of Meetings

Decisions at a general meeting are formally recorded as resolutions — the proposals put to the members for their vote.

7

Key Managerial Personnel

Beyond the Board of Directors, the day-to-day executive running of a company is entrusted to a small group of senior full-time officers whom the Companies Act, 2013 collectively calls Key Managerial P…

Sample & Board Papers

Sample papers and previous-year board questions for this subject.

+Show 20 questions20 questions
  1. Q1First meeting of Directors should be convened within ________ days from the date of incorporation of the company. (a) 50 (b) 45 (c) 30 (d) 6…Preview
  2. Q2Give any three cases in which an ordinary resolution need to be passed.Preview
  3. Q3(a) Give short notes on : (i) Class Meeting (ii) Meeting of the creditors OR (b) Mention the presumptions of Negotiable Instruments.Preview
  4. Q4(a) Mr. Raghu is appointed as a Director in a Company. Is he personally liable to third parties? If so, under what circumstances is he liabl…Preview
  5. Q5Which meeting will be held once in the lifetime of the company ? (a) Extra-ordinary (b) Statutory (c) Class General (d) Annual GeneralPreview
  6. Q6A private company shall have a minimum of ______ Directors. (a) 3 (b) 7 (c) 2 (d) 5Preview
  7. Q7List out the Key Managerial Personnel in a Company.Preview
  8. Q8Public Company shall have a minimum number of ______ Directors. (a) 5 (b) 2 (c) 6 (d) 3Preview
  9. Q9What is Quorum?Preview
  10. Q10(a) Give short notes on: (i) Statutory meeting (ii) Extra-ordinary General Meeting OR (b) What are the responsibilities of Consumers?Preview
  11. Q11Directors are ______ of the company's money. (a) Agent (b) Banker (c) Trustees (d) HolderPreview
  12. Q12From the date of its incorporation the First Annual General Meeting is to be conducted within ______ months. (a) Eighteen (b) Twelve (c) Twe…Preview
  13. Q13Write short notes on "Proxy".Preview
  14. Q14What kind of resolutions are required to implement the following decisions of a company ? (a) To change the objectives of the company. (b) T…Preview
  15. Q15Who is a Shadow Director ?Preview
  16. Q16What do you mean by Statutory Meeting ?Preview
  17. Q17What is Voting ?Preview
  18. Q18Give any three cases in which an ordinary resolution need to be passed.Preview
  19. Q19Which meeting is not classified as Share Holder's Meeting under Companies Act 2013? (a) Annual General Meeting (b) Statutory Meeting (c) Ext…Preview
  20. Q20What is QUORUM?Preview

More questions

13 Q
+Show 7 questions7 questions
  1. Q1State the minimum and maximum number of directors a public company can have under the Companies Act, 2013.Free
  2. Q2What is a Director Identification Number (DIN)?Free
  3. Q4What is meant by Key Managerial Personnel (KMP)? Name the KMP required under Section 203 of the Companies Act, 2013.Free
  4. Q7State the quorum required for a Board Meeting under the Companies Act, 2013.Preview
  5. Q8Distinguish between an Annual General Meeting (AGM) and an Extraordinary General Meeting (EGM).Preview
  6. Q11Distinguish between an Ordinary Resolution and a Special Resolution.Preview
  7. Q12What are 'Minutes of Meetings'? Within what time period must they be recorded?Preview
+Show 3 questions3 questions
  1. Q3Explain the disqualifications of a director under Section 164 of the Companies Act, 2013.Free
  2. Q5Explain the powers of the Board of Directors under the Companies Act, 2013.Preview
  3. Q9Explain the provisions relating to notice and quorum for a general meeting under the Companies Act, 2013.Preview
+Show 2 questions2 questions
  1. Q6As per Section 173 of the Companies Act, 2013, the gap between two consecutive Board Meetings should not exceed: (A) 60 days (B) 90 days (C)…Free
  2. Q10A Special Resolution under Section 114 of the Companies Act, 2013 requires votes in favour to be: (A) A simple majority of votes cast (B) At…Preview
+Show 1 question1 question
  1. Q13Sundari Ltd. is a public company with a Board of 12 directors. The company's Board wishes to pass a resolution to invest a large sum of the…Preview