Company Affairs (CS) Interview Preparation Guide
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Company Affairs CS job interview preparation guide. Number of Company Affairs (CS) frequently asked questions(FAQs) asked in many Company Affairs CS interviews

29 Company Affairs CS Questions and Answers:

1 :: 1: What is BRS?
2: Why do we prepare balance sheet?
3: What is trial balance?
4: What is mutual fund?
5: Why net profit shown liabilities side in balance sheet?

We do BRS when there arises a difference between the balances in the cashbook and passbook.
We prepare balance sheet to ascertain the financial position of business trail balances-to check dual entry of transactions arithmetically deferred revenue expenditure-that which spreads the benefit 4 a long time.
Net profit is a liability on part of business to pay to owner.
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2 :: What is deferred profit?

A portion of company profits allocated by an employer, in good years, to an employee’s trust.
Contributions on behalf of each employee are expressed as a percentage of salary with 5% being common practice. If the profit-sharing plan is a qualified plan according to the IRS, employer contributions are tax deductible as a business expense. These contributions are not currently taxable to the employee; benefits are taxed at the time of distribution.
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3 :: Is labor act applicable for firms?

Yes labor act applicable for a firms
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4 :: Is tally 9.0 different to ERP?

Tally 9.0 is different to ERP because ERP is online software. It is portable facility to anywhere. ERP is useful in any new function creation. ERP is effective to any organization.
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5 :: Explain on which time a company secretary has filled his compliance
in form no.66?

A Practicing company secretary my filled his compliance
certificate in Form no. 66, when filing company's Annual
Returns. This certificate is compulsory for the companies
whose paid up capital exceeds Rs. 10 Lacs
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6 :: How to start a personal finance company that is not require RBI registration?

Personnel Finance company can be start under Companies Act,1956 as a NBFC Company, Fund Company, ABC Company etc.
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7 :: Tell me about the essential characteristics of a company?

The essential characteristics of a company are:
★ It is a voluntary association of persons.
★ It is a separate legal entity.
★ It has a common seal.
★ It has a perpetual succession.
★ It is created by law with limited liability.
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8 :: Can you define the Statutory company?

A company which is formed by the special Act passed by the Central or State legislature is called Statutory company. This type of company is not required to frame their Memorandum or Articles of Association. They are also not required to use the word limited as a part of their name. Their working is controlled, checked and reviewed by the Comptroller.
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9 :: Tell me on what basis registered companies are categorized?

Registered companies are categorized on the basis of liability and number of members. On the basis of liability companies can be categorized in the following three categories:
★ Unlimited companies.
★ Company limited by shares.
★ Company limited by guarantee.
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10 :: Can you tell me about the subsidiary company?

A company is a subsidiary of a holding company, if a holding company controls the majority composition of its board of directors, having an object to control the management of the subsidiary or that other company that is the holding company holds the majority of its shares or the holding company's subsidiary has its own subsidiary, it become the subsidiary of the first mentioned company on the first holding company.
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