NTA UGC NET/JRF Exam, Dec. 2019 Commerce (Evening-Shift)

Rules and regulations have been implemented to control how businesses operate.
These laws protect consumers and also preserve competition between businesses. Businesses that do not obey any of the business laws will face fines or penalties.
• Environment protection law.
• Occupation Health and Safety law.
• Competition Laws.
In India business organization is not affected by incorporation and Bankruptcy law rather it is affected by Insolvency and Bankruptcy code 2016.

Section '319' of Companies Act, 2013 facilitates amalgamation, absorption, and reconstruction of companies.
Power of company liquidator to accept shares, etc., as consideration for the sale of property of the company.
•  Section '320' - Distribution of property of the company.
• Section '410' - National Company Law Appellate Tribunal (NCLAT) was constituted under section '410' of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal (S)
(NCLT), with effect from 1st June 2016.
• Section '502'- Appointment of liquidator.

Function of A first-level or front line supervisors are :
To determine individual job assignment.
• To Attend to grievances and resolve conflicts.
• To provide technical knowledge and guidance to workers.
• To supply strategic information relating to production to management.
•  Plan and assign daily work load to team members.
•Develop process improvement to enhance quality and productivity.

Consumer Protection Act 1986 :- Three tier system Under Consumer Act.
District Forum :- These Forum are set by the district of the state concerned in each district wherein it consists of president and two member of which one should be woman and is appointed by the State Government.

State Commission :- Each State Commission shall consist of a person who is or has been a Judge of a High Court, appointed by the State Government.

National Commission :- The National Commission shall consist of a person who is or who has been a Judge of Supreme Court, appointed by the Central Government.

Foreign Exchange means foreign currency and includes:
(1) Deposits, Credits and balances payable in any foreign currency.
(2) Drafts, traveler's cheques, letters of credit, or bills of exchange expressed or drawn in Indian currency but payable in any. foreign currency.
(3) Drafts, traveler's cheques, letters of credit or bill of exchange drawn by banks, institutions or persons outside India but payable in Indian currency.

According to FEMA, foreign exchange includes drafts drawn by banks outside India and payable in Indian currency but it does not include any drawn by banks outside India and payable in foreign currency.

Rights of INDEMNITY HOLDER-
(1) He is entitled to recover all damages which he may be compelled to pay in any suit in respect of any matter to which the promise to indemnity applied.

(2) He is entitled to recover from the indemnifier, all costs which he had paid in bringing or defending any suit in respect of contracts of indemnity.

(3) He is entitled to recover from the indemnifier, all the amount which he had paid under the terms of the compromise of such suit.

• The indemnity holder is entitled to the above 3 rights. Thus, the indemnity holder is NOT entitled to damages for liability incurred which is not absolute.

The correct form of the given statements are as follows:
(A) In the short-run △TFC = 0, therefore ATC = △TVC
(B) If decrease in AFC < increase in AVC, then AC increase.
(C) If decrease in AFC = increase in AVC, AC remains constant.
(D) If decrease in AFC > increase in AVC, then AC decrees.

(A) Translation exposure is inherent all foreign currencies denominated contractual translation. Thus, statement A is correct.
(B) Translation exposure (also known as translation risk) is the risk that a company's equities, assets, liabilities, or income will change in value as a result of exchange rate change.
(C) Economic exposure is a type of foreign exchange exposure caused by the effect of unexpected currency fluctuation on a company's future cash flows, foreign investments and earning.
(D) Operating exposure refers to how exchange rate change can input on a firms future cash flows and consequently affect the firms value.

Financial Institution in ascending order of their year of establishment :-