Business conditions may not remain same at all the times. There may be change in various aspects like taxation, political situation, competitors etc. Every organization may be not in position to adopt the changes at all times.
Corporate restructuring is the concept of rearranging the business or financial structure of a company which may be used to adopt the changes, increasing the efficiency etc. Various factors making hurdles in organization growth can be eliminated.
Amalgamation is one of such popular method which brings two entities into a one which may be new or existing. Amalgamation helps to concentrate on core strengths and to eliminate competition as well. This can also be used enter into new market and to gain tax advantage also.Amalgamation is systematic and comprehensive process which should be abide by various laws and Accounting Standards.
Capital & Current account
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- Question 1 of 10
Which schedules of FEMA provides for the permissible capital account transactionsCorrect
Schedule I and Schedule II of the FEMA, 1999 provides for the permissible capital account transactionsIncorrect
- Question 2 of 10
Schedule II provides capital account transactions for which classCorrect
Scheule II of the FEMA provides permissible capital account transactions for persons resident outside IndiaIncorrect
- Question 3 of 10
Which Rules Govern the Current Account TransactionsCorrect
Foreign Exchange Management (Current Account Transaction) Rules, 2000 framed by the Central Government govern the Current Account TransactionsIncorrect
- Question 4 of 10
For FEM (Current Account Transaction) Rules, 2000, drawal meansCorrect
Drawal for the purpose of FEM (Current Account Transaction) Rules, 2000 means drawal of foreign exchange from an authorized dealer or person and includes opening of letter of credit, or use of International cerdit or debit or ATM card or any other thing by whatever name called which has the effect of creating foreign exchange liability)Incorrect
- Question 5 of 10
In which of the following cases drawal of foreign exchange is prohibitedCorrect
Schedule I provides seven situations wher ethe drawal of foreign exchange is prohibited as per Rule 3Incorrect
- Question 6 of 10
Rule 4 is not applicable if payment is made out ofCorrect
Rule 4 requires prior approval of the GOI for the transactions as specified in the Second Schedule, But this doesnâ€™t apply when payment is made out of funds held in Resident Foreign Currency Account (RFC) of the remitterIncorrect
- Question 7 of 10
In an year a donation of upto USD 5,000 can be made without the prior approval ofCorrect
As per schedule III, Rule 5 a person can made donation of upto USD 5,000 without the prior approval of RBI, if payment is to be made beyond this limit then approval of RBI is requiredIncorrect
- Question 8 of 10
Approval of RBI is required if remittance made for any consultancy services procured from abroad isCorrect
As per Rule 5, approval of RBI is required if remittance exceeds USD 1 Million per project for any consultancy services procured from abroadIncorrect
- Question 9 of 10
For studying abroad, foreign exchange release can be (without the appoval of RBI)Correct
A per Rule 5 Foreign exchange release for the purpose of studying abroad can be USD 1,00,000 per academic year or the estimates from the institution abroad , whichever is higherIncorrect
- Question 10 of 10
Gift remittances exceeding what amount are required to take approval from RBICorrect
Rule 5 States that if gift remittances exceed USD 5,000 per donor per annum are required to take prior approval from the RBIIncorrect