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Authored by Sidhant Gupta
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of winding up a company?
To start a new business
To close the company and distribute its assets
To expand business operations
To acquire another company
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who can file a petition for winding up a company under compulsory winding up?
Creditors only
Only the company itself
Company, creditors, contributories, or the Registrar of Companies
Only the Central Government
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a company is wound up, what is the order of payment priority?
Creditors, employees, shareholders
Shareholders, creditors, employees
Employees, shareholders, creditors
Employees, creditors, shareholders
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following signifies the end of the winding-up process?
Declaration of solvency
Final meeting and dissolution of the company
Settlement of initial debts
Appointment of a liquidator
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT considered Key Managerial Personnel (KMP) under the Companies Act, 2013?
Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Internal Auditor
Company Secretary (CS)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is responsible for appointing Key Managerial Personnel in a company?
The shareholders
The Board of Directors
The Company Secretary
The government
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a hostile takeover, how does the acquiring company take control of the target company?
By obtaining approval from the target company’s management
By purchasing shares directly from the open market against the wishes of the target company’s management
By merging voluntarily with the target company
By acquiring assets only
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