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WorksheetsFormation of a Company
Total questions: 15
Worksheet time: 8mins
Minimum number of members to form a private company is------------
2
3
5
7
Minimum number of members to form a public company is-------------
5
7
12
21
Application for approval of name of a company is to be made to------------------------------
SEBI
Registrar of Companies
Government of India
Government of the State in which Company is to be registered
A proposed name of Company is considered undesirable-----------------
It is identical with the name of an existing company
It resembles closely with the name of an existing company
It is an emblem of Government of India, United Nations etc.
In case of any of the above
A prospectus is issued by---------------------
A private company
A public company seeking investment from public
A public enterprise
A public company
It is necessary to get every company incorporated, whether private or public.
True
False
Not sure
A company cannot come into existence without:
Electing Directors
Getting certificate of incorporation
Issuing a prospectus
All of these
The shares of -------- company can be freely transferable.
Private company
Public Company
Partnership
All the above
Which of the following is not a major advantage of a company?
Separate legal entity
Continuous life
Government regulations
Transferable ownership rights
‘A company will remain even if all its members die.” Which feature of the company does this statement signify:
Perpetual Existence
Professional Management
Limited Liability
Transfer of Interest
Qualification shares are subscribed by:
Directors of the company
Auditors of the company
Bankers of the company
Employees of the company
Joint Stock Company has to follow a certain specified legal procedure for
its formation. Arrange the following steps of formation in a proper order.
I. Capital subscription stages II. Promotion
III. Commencement of business IV. Incorporation
Select from the following options:
III, II, I, IV
II, IV, III, I
IV, II, III, I
II, IV, I, III
Vashisht is the promoter of a company. He was in the process of making an application to a stock exchange for listing the securities. The allotment will become void if the company does not receive the permission within the stipulated time frame of
Two weeks from the date of closure of subscription
Ten months from the date of closure of subscription
Ten weeks from the date of closure of subscription
None of the above
Chandramukhi purchased 250 shares of Great Company Limited, the face value of shares being ₹ 100. The company has called ₹ 80 per share till date, and all such amounts as called by company, have been paid by Chandramukhi. What is the liability of Chandramukhi now?
Unlimited Liability
Rs. 5000
Rs. 25,000
Rs. 20,000
‘The documents that serve as constitution of the company’ and ‘the document that serves as doctrine of indoor management’ are as follows:
Prospectus and Articles of Association respectively
Memorandum and Articles of Association respectively
Memorandum and Prospectus respectively
None of the above.
