1. Advantage of incorporated company is
(a) Corporate disclosures (b) Common seal
(c) Capacity to sue (d) Windier up procedure
Answer: C
2. Find the odd one out:-
(a) Private Company (b) Public Company (c) Consumer Company (d) Producer Company
Answer: C
3. Joint shareholders are counted as
(a) Two (b) No limit (c) 50 (d) One
Answer: D
4. Example of company limited by guarantee
(a) Clubs (b) Both (a) & (c) (c) Societies (d) None of the above
Answer: B
5. Which is not a registered company
(a) Company limited by share (b) Company limited by guarantee
(c) Both (a) & (b) (d) None of the above
Answer: D
6. Public company shares are dealt in
(a) Stock exchange (b) Public (c) Market (d) All of the above
Answer: A
7. Is there any limit on borrowings to a Private Company
(a) Limit up to RS 50,000 (b) Limit up to 1 lakh
(C) No limit (d) None
Answer: C
8. Unlimited company may be subsequently converted into limited company
(a) True (b) Partly true (c) False (d) None of the above
Answer: C
9. Non Profit companies are also called
(a) Holding companies (b) Licensed companies
(c) Subsidiary companies (d) Government companies
Answer: .B
10. Government company comes under section
(a) 2(46) (b) 2(44) (c) 2(43) (d) 2(45)
Answer: D
11. Foreign company must issue prospectus
(a) True (b) Partly true (c) False (d) None of these
Answer: A
12. Company's memorandum & articles are public documents
(a) True (b) False (c) Partly True (d) Partly False
Answer: A
13. For incorporation or registration
(a) MOA must be subscribed (b) AOA must be subscribed (c) Only MOA (d) Both (a)&(b)
Answer: D
14. MOA contains of company
(a) Constitutions (b) Regulations (c) Declaration (d) None of these
Answer: A
15. MOA has clauses
(a) 9 (b) 7 (c) 6 I (d) 10
Answer: C
16. AOA is also called as of the company
(a) Regulations (b) Bye Laws (c) Provisions (d) Both (a) or (b)
Answer: D
17. Tables I includes articles of
(a) Unlimited company having share capital
(b) Company limited by guarantee
(c) Company limited by shares
(d) Public company
Answer: A
18. which amongst the following documents is not required to be filed by a foreign company with the Registrar?
(a) Address of the registered office of the company
(b) Address of the principles place of business in India
(c) Declaration of Solvency
(d) Articles of Association
Answer: C
19. Lifting of corporate veil is permitted
(a) By statue (b) Voluntary (c) Any time (d) None of these
Answer: A
20. which one of the following is NOT an essential feature of a company?
(a) Perpetual Succession (b) Unlimited Liability (c) Separate Property (d) Transferability of shares
Answer: B
21. which one of the following statement is not true regarding a company?
(a) The shares of a company can be transferred
(b) lt is very simple and easy to form a company
(c) It is a separate legal entity
(d) It has independence to form its policies
Answer: B
22. Which one of the following is NOT a disadvantage of a company?
(a) It does not has a capacity to sue
(b) It has more social responsibility
(c) Greater tax burden
(d) More disclosures
Answer: A
23. Which of the following statement is NOT true regarding a private company?
(a) It cannot invite public to subscribe to shares or debentures
(b) Restricts the right to transfer its share
(c) At least five members are required to form a company
(d) It should have at least two directors
Answer: C
24. The auditor of a Government company is appointed by
(a) Central Government
(b) Comptroller and Auditor General of India
(c) Directors of the Company
(d) Shareholders of the Company
Answer. B
25. The maximum managerial remuneration which can be paid by a private company is
(a) 11% of net profit (b) 11% of turnover
(c) 5% of share capital (d) None of the above
Answer: D
26. In case of a company limited by shares, the members are liable to the extent of
(a) Nominal value of share
(b) Called up value of shares
(c) They are personally liable
(d) None of the above
Answer: A
27. Which one of the following is not true with reference to an unlimited company?
(a) The liability is extended to their personal property
(b) The members are not liable directly to the creditors of the company
(c) It cannot convert itself into a public company
(d) All of the above
Answer: C
28. A "not for profit" company is permitted as per which section of the Companies Act, 2013?
(a) Sec. 2(i) (iv) (b) Sec. 5 (c) Sec. 8 (d) Sec. 12.
Answer . C
29. The licence to form a company not for profit" is granted by
(a) State Government
(b) Registrar
(c) High Court
(d) Central Government
Answer: . D
30. Government company is defined under which section of the Companies
Act, 2013?
(a) Sec. 2(45) (b) Sec. 2(44) (c) Sec. 2(43) (d) None of the above
Answer: A