 Board Question Paper : February 2024

BOARD QUESTION PAPER : FEBRUARY 2024

SECRETARIAL PRACTICE
Time: 3 Hrs. Max. Marks: 80

Note: (1) All questions are compulsory.

(2) Figures to the right indicate full marks for the questions.
(3) Figures to the left indicate question numbers.
(4) Answer to every question must be started on a new page.

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Q.1. (A) Select the correct answer from the options given below and rewrite the sentences:
(5)[20]
1. Finance is the management of _______ affairs of the company.
(a) monetary (b) marketing (c) production

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2. Company can accept deposits from public, minimum for _______ months.
(a) nine (b) six (c) twelve

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3. A company can issue _______ convertible debentures.
(a) only partly (b) only fully (c) partly or fully
4. Debenture Capital is a _______ capital of a company.
(a) borrowed (b) owned (c) permanent
5.
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_______ is a return paid to creditors by the company.
(a) Dividend (b) Interest (c) Rent
(B) Match the pairs: (5)
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Group ‘A’ Group ‘B’
(a) Capital budgeting (1) Unsecured Debentures
(b) Regret Letter (2) 1956
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(c) Board of Directors (3) Investment decision

(d) Depository Act (4) Allotment of shares
(e) Final Dividend (5) Decided and declared by Board
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of Directors
(6) Financing decision
(7) Decided by Board and declared
by members
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(8) 1996
(9) Power to issue debentures
(10) Non-Allotment of shares
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(C) Find the odd one: (5)

1. Debenture, Public Deposit, Retained earnings
2. Bonus shares, Rights shares, Employees Stock Option Scheme (ESOS)
3. Private company, Non-Eligible public company, Government company
4. Depository, D.P., RBI
5. Private Placement, Commercial Paper, Further Public Offer (FPO)
(D) Correct the underlined words and rewrite the following sentences: (5)
1. Owned capital is temporary capital.
2. FPO refers to offering of shares to the public for the first time.
3. Dividend is recommended by shareholders.
4. Deposit is a long term source of capital.
5. A stock market is an important constituent of money market.
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Std. XII : Secretarial Practice 

Q.2. Explain the following terms / concepts (Any FOUR): [8]

1. Fixed capital 2. Borrowed capital
3. Bonus shares 4. Depository system
5. Secondary market 6. Stock Exchange
Q.3. Study the following cases / situation and express your opinion (Any TWO): [6]
1. Violet Ltd. company plans to raise ` 10 crores by issuing debentures. The Board of Directors
have some queries. Please advise them on the following :
a. Can they issue convertible debentures?
b. As the company is offering debentures to its members, can such debentures have
normal voting rights?
c. Capital raised by issuing debentures will be Owned Capital or Borrowed Capital?

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2. Mr. Satish holds 100 shares of Raj Company Ltd. in physical mode and wishes to convert the
same into electronic mode:
a. Mr. Satish holds a Savings Bank Account with SBI. Can he deposit his shares in this
account for demat?

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b. What type of account is needed for the same?
c. Is it the RBI which will be the custodian of shares of Mr. Satish after demating?
3. GOLD Co. Ltd. declares a dividend of ` 10/- per share for F.Y. 2019-2020:

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a. Is company under default, if dividend was not paid within 30 days of its declaration?
b. Is company right in transferring the unpaid dividend to its Debenture Reserve
Account? lic
c. Does the company have to transfer the amount of unpaid dividend to IEPF after 30
days?
Q.4. Distinguish between the following (Any THREE): [12]
1. Fixed capital and Working capital
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2. Rights shares and Bonus shares
3. Dematerialization and Rematerialization
4. Dividend and Interest
Q.5. Answer in brief (Any TWO): [8]
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1. Explain Employee Stock Option Scheme.

2. State any four terms and conditions regarding acceptance of deposits.
3. Explain the features of Interim Dividend.
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Q.6. Justify the following statements (Any TWO): [8]

1. Bond holder is creditor of the company.
2. A company has to create charge on its assets for issuing secured debentures.
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3. Capital market is useful for corporate sector.

4. Stock exchange works for the growth of the Indian Economy.
Q.7. Attempt the following (Any TWO): [10]
1. Write a letter to the member for the payment of dividend through Dividend Warrant.
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2. Write a letter to the debenture holder regarding payment of interest electronically.

3. Write a letter to depositor regarding renewal of his deposit.
Q.8. Answer the following questions (Any ONE): [8]
1. What are Preference Shares? Explain its types in detail.
2. Explain the provisions of Companies Act, 2013 for issue of debentures.

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  Board Question Paper: July 2023

BOARD QUESTION PAPER: JULY 2023

SECRETARIAL PRACTICE
Time: 3 Hrs. Max. Marks: 80

Note: (1) All questions are compulsory.

(2) Figures to the right indicate full marks for the questions.
(3) Figures to the left indicate question numbers.
(4) Answer to every question must be started on a new page.

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Q.1. (A) Select the correct answer from the options given below and rewrite the sentences:
(5)[20]
1. _______ is related to money and money management.
(a) Production (b) Marketing (c) Finance

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2. Debenture holders are _______ of the company.
(a) Creditors (b) Owner (c) Suppliers

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3. Deposit can be accepted for a minimum of 6 months and maximum for _______
months.
(a) 36 (b) 03 (c) 30
4.
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A stock exchange is where stock brokers and traders can buy and sell _______.
(a) gold (b) securities (c) goods
5. In India, Depository Act was passed in _______.
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(a) 1919 (b) 1996 (c) 1999
(B) State whether the following statements are True or False: (5)
1. Working capital stays in the business almost permanently.
2. Equity shareholders enjoy fixed rate of dividend.
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3. The member transferring shares is called transferor.

4. Transfer of securities is easier in electronic mode.
5. Money market is the market for the long term funds.
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(C) Select the correct option from the bracket: (5)

Group ‘A’ Group ‘B’
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(a) Public Deposits (1) _______________________

(b) _______________________ (2) Employee Stock Option Scheme
(ESOS)
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(c) No voting rights (3) _______________________

(d) _______________________ (4) Bonus shares
(e) _______________________ (5) Payment of Dividend
[Debenture holders, within 30 days, short term loan, Capitalization of Reserve Fund,
shares offered to existing employees]
(D) Write a word or a term or a phrase which can substitute each of the following
statements: (5)
1. Capital collected by way of issue of equity and preference shares.
2. Authority which has power to issue debentures.
3. Documentary evidence of holding the debentures.
4. Return on investment on deposit.
5. The meeting where final dividend is declared.
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 
Secretarial Practice

Q.2. Explain the following terms / concepts (Any FOUR): [8]

1. Fixed capital
2. Overdraft
3. Employees Stock Purchase Scheme (ESPS)
4. Dematerialization
5. Primary market
6. Stock Exchange
Q.3. Study the following cases / situations and express your opinion (Any TWO): [6]
1. DDS Financial plans to raise `10 crores by issuing secured, Non-convertible debentures.
However, as per the Articles of Association, the Board of Directors has authority only to
raise upto 5 crores. They are also considering whether to go for private placement or

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make public offer. Please advise them on the following:
a. What can be the maximum tenure of the debentures to be issued?
b. Is the proposed issue within the borrowing powers of the Board?
c. Within what period should company issue Debenture Certificate?

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2. Mrs. Alka wishes to open a Demat account in her name:
a. Can she open the account going to Mumbai office of NSDL?

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b. Is she required to pay for opening of account and its maintenance?
c. Does she have to send the shares to respective company for demating?
3. ABC Co. Ltd. decides to pay lnterim Dividend:
a.
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Can it be paid out of free reserves?
b. Does the Board have a right of declaring the interim Dividend at the Board
Meeting?
c. Should the company distribute the dividend within 30 days of its declaration?
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Q.4. Distinguish between the following (Any THREE): [12]
1. Shares and Debentures
2. Transfer of shares and Transmission of shares
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3. Money market and Capital market

4. Interim Dividend and Final Dividend
Q.5. Answer in brief (Any TWO): [8]
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1. State the provisions related to issue of Bonus Shares.

2. Explain any four advantages of Depository system to Investors.
3. State the functions of SEBI.
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Q.6. Justify the following statements (Any TWO): [8]

1. There are various factors affecting the requirement of fixed capital.
2. A company can issue only certain types of debentures.
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3. All companies cannot accept deposits from public.

4. Dividend is paid out of profits of the company.
Q.7. Attempt the following (Any TWO): [10]
1. Write a letter to the shareholder regarding issue of Bonus Shares.
2. Draft a letter of allotment of debentures.
3. Draft a letter of thanks to the depositor of a company.
Q.8. Answer the following questions (Any ONE): [8]
1. What is Debenture? Explain the different types of debentures.
2. Explain the classification of share capital.

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  Board Question Paper : February 2023

BOARD QUESTION PAPER : FEBRUARY 2023

SECRETARIAL PRACTICE
Time: 3 Hrs. Max. Marks: 80

Note: (1) All questions are compulsory.

(2) Figures to the right indicate full marks for the questions.
(3) Figures to the left indicate question numbers.
(4) Answer to every question must be started on a new page.

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Q.1. (A) Select the correct answer from the options given below and rewrite the sentences:
(5)[20]
1. Company has to pay _______ to government.
(a) taxes (b) dividend (c) interest

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2. _______ shares are issued free of cost to existing equity shareholders.
(a) Equity (b) Right (c) Bonus

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3. _______ is a proof of title of shares.
(a) Register of member (b) Share certificate (c) Letter of Allotment
4. Debenture Capital is a _______ capital of a company.
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(a) owned (b) permanent (c) borrowed
5. Dividend is paid first to _______ shareholders.
(a) equity (b) preference (c) deferred
(B) State whether the following statements are True or False: (5)
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1. Finance is related to money and money management.
2. Share certificate is issued for partly or fully paid up shares.
3. Government company can collect deposits from its members.
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4. Depositors are given voting rights.

5. Primary market is also known as new issue market.
(C) Find the odd one: (5)
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1. Face value, Market value, Redemption value.

2. Convertible debentures, Irredeemable debentures, Secured debentures.
3. Dividend warrant, Interest warrant, Demat.
4. DP, RBI, Depository.
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5. Final dividend, Interim dividend, Interest.

(D) Select the correct option from the bracket. (5)
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Group ‘A’ Group ‘B’

(a) Equity shares (1) _______________________
(b) Operation of law (2) _______________________
(c) _______________________ (3) Debenture certificate
(d) Dematerialization (4) _______________________
(e) _______________________ (5) Oldest stock exchange in India.
[Issued within 6 months of allotment, Physical to electronic mode, Fluctuating rate of
dividend, Bombay Stock Exchange, Transmission of shares]
Q.2. Explain the following terms / concepts (Any FOUR): [8]
1. Working Capital 2. Overdraft
3. Rights issue 4. Depository Participant (DP)
5. Secondary Market 6. Stock Exchange
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Secretarial Practice 

Q.3. Study the following cases / situations and express your opinion (Any TWO): [6]
1. Sai Ltd. Company is newly incorporated public company and wants to raise capital by
selling equity shares to the public. The Board of Directors are considering various
options for this. Advise the Board on the following matters:
a. What should the company offer – IPO or FPO?
b. Can the company offer Bonus shares to raise its capital?
c. Can the company enter into Underwriting Agreement?
2. Mr. Kishore wants to demat his 25 shares of Hero Company Ltd. bearing certificate
no. 100 and distinctive no. 76-100:
a. Which form is he required to fill as a written request to the DP-DRF or RRF?
b. Does he have to fill instrument of transfer if he wishes to transfer the same, after

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demat?
c. Does he have to quote certificate number and distinctive number, if he wishes to
transfer his shares after it is in demat form?

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3. Diamond Company Limited is considering to declare Interim Dividend:
a. In how many days of declaration it should transfer the funds to Dividend
Account?

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b. In how many days it must pay it to Shareholders?
c. Can the Board of Directors declare Interim Dividend out of capital?
Q.4. Distinguish between the following (Any THREE): [12]
1.
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Fixed capital and Working capital.
2. Shares and Debentures.
3. Initial Public Offer (IPO) and Further Public Offer (FPO).
4. Final Dividend and Interim Dividend.
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Q.5. Answer in brief (Any TWO): [8]
1. State the contents of share certificate.
2. Explain four advantages of depository system for an investor.
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3. State the functions of SEBI.

Q.6. Justify the following statements (Any TWO): [8]
1. A company can issue only certain types of debentures.
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2. All companies cannot accept deposits from public.

3. Equity shares get last priority in payment of dividend.
4. Capital market is useful for corporate sector.
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Q.7. Attempt the following (Any TWO): [10]

1. Write a letter to the member for the issue of share certificate.
2. Draft a letter to debenture holder informing him about redemption of debentures.
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3. Draft a letter to the depositor regarding repayment of his deposit.

Q.8. Answer the following questions (Any ONE): [8]
1. What is an equity share? Explain its features.
2. Explain the statutory provisions for allotment of shares.

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  Board Question Paper : March 2022

BOARD QUESTION PAPER : MARCH 2022

SECRETARIAL PRACTICE
Time: 3 Hrs. Max. Marks: 80
Note: (1) All questions are compulsory.
(2) Figures to the right indicate full marks for the questions.
(3) Figures to the left indicate question numbers.
(4) Answer to every question must be started on a new page.

Q.1. (A) Select the correct answer from the options given below and rewrite the sentences:
(5)[20]
(1) _______ is related to money and money management.
(a) Production (b) Marketing (c) Finance
(2) Secured debentures must be redeemed within _______ from the date of its issue.
(a) 10 days (b) 10 years (c) 15 years
(3) India has a _______ depository system.
(a) sole (b) multi (c) single
(4) Dividend is to be paid to the shareholders within _______ from the date of declaration.
(a) 30 days (b) 40 days (c) 20 days
(5) Accumulated dividend is paid to _______ preference shares.
(a) redeemable (b) cumulative (c) convertible
(B) Match the pairs: (5)

Group ‘A’ Group ‘B’

(a) Investment in debenture. (1) Deals with acquisition and use of
capital.
(b) Financial market (2) Must inform stock exchange about
dividend declaration.
(c) Price of shares mentioned in (3) Trading of financial securities.
prospectus
(d) Corporate finance (4) Safe and secured investment.
(e) Listed company (5) Must inform government about
dividend declaration
(6) Fixed price issue method.
(7) Risky investment
(8) Trading of commodities
(9) Deals with acquisition and use of assets.
(10) Book-Building Method.

(C) State whether the following statements are True or False: (5)
(1) Dividend can be paid out of capital.
(2) Deposit can be accepted for a maximum of 6 months.
(3) Depository bank stores the shares on behalf of GDR holder.
(4) Securities market is an unorganised market place in India.
(5) Bonus shares are fully paid up shares.
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Std. XII : Secretarial Practice 

(D) Correct the underlined word and rewrite the following sentences: (5)
(1) Depositors are owners of the company.
(2) Retained earnings is an external source of finance.
(3) To rate its debentures, a company appoints underwriters.
(4) Companies sell fresh shares for the first time to the public in secondary market.
(5) Preference shareholders get dividend from residual profits.
Q.2. Explain the following terms / concepts (Any FOUR): [8]
(1) Production Cycle
(2) Overdraft
(3) Employee Stock Purchase Scheme (ESPS)
(4) Depository Participant (DP)
(5) Rate of Dividend
(6) Rights Issue
Q.3. Study the following cases / situations and express your opinion (Any TWO): [6]
(1) Sunflower limited company proposes to issue debentures to the public to raise funds.
After discussions, the Board of Directors have decided to issue secured, redeemable,
non-convertible debentures with a tenure of ten years. Please advise the Board on
following matters:
(a) Should the company appoint Debenture Trustee?
(b) Should the company create a charge on its assets?
(c) Can the tenure of debentures be less than ten years?
(2) ‘ABC’ Company Ltd. is an eligible public company as per the Companies Act, 2013, with
reference to accepting public deposits:
(a) Can the company accept deposits in joint names?
(b) Can the company accept deposits from its members?
(c) Can the company accept secured deposits?
(3) Joy Ltd. Company is newly incorporated company. It wants to raise capital for the first
time by issuing equity shares:
(a) Should it go to primary market or secondary market to issue its shares?
(b) Should it offer its shares through public offer or rights issue?
(c) What will be the issue of equity shares by Joy Ltd. Co. called as, – IPO or FPO?
Q.4. Distinguish between the following (Any THREE): [12]
(1) Fixed capital and Working capital
(2) Transfer of shares and Transmission of shares
(3) Dematerialization and Rematerialization
(4) Primary market and Secondary market
Q.5. Attempt in brief (Any TWO): [8]
(1) State the features of bond.
(2) Explain any four advantages of depository system to investors.
(3) Explain the features of interest.
Q.6. Justify the following statements (Any TWO): [8]
(1) The Board of Directors can refuse transfer of shares.
(2) The Securities and Exchange Board of India (SEBI) is the regulator for the securities
market in India.
(3) Unpaid dividend cannot be used by the company.
(4) A company can issue duplicate share certificate.
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  Board Question Paper : March 2022

Q.7. Attempt the following (Any TWO): [10]

(1) Write a letter to the member for the payment of interim dividend electronically.
(2) Write a letter to the debentureholder regarding payment of interest through interest
warrant.
(3) Draft a letter of thanks to the depositor of a company.
Q.8. Answer the following (Any ONE): [8]
(1) What is preference shares? Explain its types.
(2) Explain the provisions of Companies Act, 2013 for issue of debentures.

3
  Board Question Paper : July 2022

BOARD QUESTION PAPER : JULY 2022

SECRETARIAL PRACTICE
Time: 3 Hrs. Max. Marks: 80
Note: (1) All questions are compulsory.
(2) Figures to the right indicate full marks for the questions.
(3) Figures to the left indicate question numbers.
(4) Answer to every question must be started on a new page.

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Q.1. (A) Select the proper option from the options given below and rewrite the sentences: (5)[20]
(1) _______ refers to any kind of fixed assets.
(a) Authorised Capital (b) Issued Capital (c) Fixed Capital

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(2) The holder of bond is _______ of the company.
(a) secretary (b) owner (c) creditor

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(3) _______protects the interest of debenture holders.
(a) Debenture trustees (b) Debenture holders (c) Redemption reserve
(4) Dividend is recommended by _______.
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(a) Board of Directors (b) Shareholders (c) Depositors
(5) Money market is a market for lending and borrowing of funds for _______ term.
(a) short (b) medium (c) long
(B) Write a word / term / phrase which can be substituted for each of the following
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statements: (5)
(1) The value of share which is written on the share certificate.
(2) Highest bid price in Book Building Method.
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(3) Company which can accept deposits from public upto 35% of its paid-up share capital
and free reserves.
(4) The shareholders who get dividend at a fluctuating rate.
(5) The first stock exchange in India to be recognized under the Securities Contracts
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Regulation Act.
(C) State whether the following statements are true or false: (5)
(1) Fixed capital is also referred as circulating capital.
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(2) Sweat equity shares are offered to directors or employees of a company.

(3) Payment of interest on debentures does not depend on the profits of the company.
(4) IEPF is the fund created by company.
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(5) A stock exchange is a reliable barometer to measure the economic condition of a

country.
(D) Select the correct option from the bracket: (5)
Group ‘A’ Group ‘B’
(a) Secured debentures (1) _______________________
(b) _______________________ (2) Accumulated corporate profit
(c) Depositor (3) _______________________
(d) _______________________ (4) Final Dividend
(e) _______________________ (5) Capital Market
(Retained earnings, funds for long term, charge on assets, At annual general meeting,
Creditor of the company)
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Std. XII : Secretarial Practice 

Q.2. Explain the following terms / concepts (Any FOUR): [8]

(1) Financial market
(2) Final dividend
(3) Deposit receipt
(4) Employees stock option scheme
(5) Owned capital
(6) Working capital
Q.3. Study the following case / situation and express your opinion (Any TWO): [6]
(1) Gold Ltd. Company has recently come out with its public offer through FPO. Their issue
was oversubscribed. The Board of Directors now wants to start the allotment process.
(a) Is Gold Ltd. Company a listed company?

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(b) How should the company inform the applicants to whom the company is allotting
shares?
(c) Within what period should the company issue share certificate?
(2) GCC financial plans to raise ` 10 crores by issuing secured, non-convertible debentures.

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However, as per the Articles of Association, the Board of Directors has authority only to
raise upto ` 5 crores. They are also considering whether to go for private placement or

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make public offer. Please advise them on the following–
(a) What can be the maximum tenure of the debentures to be issued?
(b) Is the proposed issue within the borrowing powers of the Board?
(c) Within what period should the company issue Debenture certificate?
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(3) Mr “S” holds 50 equity shares of Peculiar Company Ltd. in Demat form. The company
has issued Bonus shares in the ratio of 1 : 1 to its shareholders:
(a) Will Mr. “S” get Bonus shares in physical or Demat form?
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(b) Who is entitled to Bonus shares: Mr “S” or the Depository (NSDL)?
(c) Will holding shares in Demat form result in quick transfer of these shares?
Q.4. Distinguish between the following (Any THREE): [12]
(1) Rights shares and Bonus shares.
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(2) Dividend and Interest.

(3) Transfer of shares and Transmission of shares.
(4) Primary market and Secondary market
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Q.5. Answer in brief (Any TWO): [8]

(1) State the provisions for Rights Issue.
(2) State any four factors affecting fixed capital requirement.
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(3) Explain four advantages of depository system to the company.

Q.6. Justify the following statements (Any TWO): [8]
(1) Depository provides easy and quicker transfer of shares.
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(2) Stock exchanges work for the growth of the Indian economy.
(3) Interest is a liability / obligation of the company.
(4) Equity share capital is risk capital.
Q.7. Attempt the following (Any TWO): [10]
(1) Write a letter to the member for the issue of share certificate.
(2) Draft a letter of allotment to debentureholder.
(3) Draft a letter to depositor informing him about payment of interest through Interest
Warrant.
Q.8. Answer the following question (Any ONE): [8]
(1) What is an equity share? Explain its features.
(2) Explain the procedure for issue of debentures.