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Total questions: 42
Worksheet time: 21mins
In case of a company is limited by _____________, the liability of its members is limited to the unpaid amount of shares they hold.
Shares
Guarantee
Directors
Shareholders
In the case of a company is limited by shares, the liability of its members is limited to ____________________.
the amount of each members' contribution towards the assets of the company.
the unpaid amount of shares they hold
the entire liability of the company
All of the above
In the case of a company is limited by guarantee, the liability of its members is limited to ____________________.
the amount of each members' contribution towards the assets of the company.
the unpaid amount of shares they hold
the entire liability of the company
All of the above
In case of a company is limited by _____________, the liability of its members is limited to the amount of each members' contribution towards the assets of the company.
Shares
Guarantee
Directors
Shareholders
Which of the following details is not included in the Memorandum of a company?
Registered office address
Objects of the company
Liability of various members of the company
Shares of the shareholders
According to the Indian Companies Act, 2013, there should be at least a minimum of 1 female director on the company's board who must have stayed in the country for at least 365 days and not less.
The statement is true
The statement is false
The statement is not mandatory
Cannot determine
A company with one director and one shareholder is called ____________
OCP
OPC
CSR
OPP
Buying or selling stock exchange with confidential information is called
(a)
Which one of the following is NOT a characteristic of a company
Huge Capital
Share Transferability
Capacity to file cases
Public seal
Reliance industries which is headed by Mukesh Ambani is an example of ___________
Chartered Company
Registered Company
One Person Company
Statutory Company
Companies formed under special regulations of the government is called __________________
Statutory Company
Regulated Company
Government Company
Associate Company
Minimum number of directors in a public company is 2
True
False
Can an One Person Company be converted into a Public/Private Company?
Yes
No
Payment of dividend is prohibited for which type of company?
(a)
Minimum number of members required to form a public company are
2
5
7
3
In which year present Companies Act comes into force?
1956
2013
2018
2020
Saloman was carried which kind of business?
cloths
Boot
Chocolate
Mobile
The term perpetual succession mean
Going to be die
Never dies
Member operated only
Separate property
Tick all the demerits of a company from the followinig.
Formalities
More tax burden
Limited liability
Possibility of fraud
The process of forming a company including where it becomes a legal entity is known as ______.
Incorporation
A franchise
Liquidity
Goodwill
DIN stands for
Director identification number
Directive identification Nil
Decisive information number
Director information numerical
The maximum number of shareholders for public company
200
300
400
Unlimited
WHICH OF THE FOLLOWING ARE NOT THE CHARACTERISTIC OF A COMPANY?
IT EXIST ONLY IN CONTEMPLATION OF LAW
THE MEMBERS CANNOT BE SUED FOR THE DEBTS OF A COMPANY
IT COMES TO AN END ON THE DEATH OF ALL ITS MEMBERS
WHAT IS THE MINIMUM NUMBER OF MEMBER REQUIRED TO FORM A PUBLIC COMPANY?
2
4
7
9
WHAT IS THE MAXIMUM NUMBER OF MEMBERS REQUIRED FOR FORMATION OF A PRIVATE COMPANY?
100
50
200
250
PERPETUAL SUCCESSION MEANS (a)
UNDER WHAT BASIS COMANIES ARE CLASSIFIED AS PUBLIC AND RIVATE?
INCORPORATION
LIABILITY
OWNERSHIP
MEMBERSHIP
WHICH OF THE FOLLOWING ARE NOT THE CHARACTERISTIC OF A COMPANY?
IT EXISTS ONLY UNDER THE LAW
THE MEMBERS CANNOT BE SUED FOR THE DEBTS OF A COMPANY
IT COMES TO AN END ON THE DEATH OF ALL ITS MEMBERS
UNDER WHAT BASIS COMPANIES ARE CLASSIFIED AS PUBLIC AND PRIVATE?
INCORPORATION
LIABILITY
OWNERSHIP
MEMBERSHIP
UNDER WHAT BASIS COMPANIES ARE CLASSIFIED AS PUBLIC AND PRIVATE?
INCORPORATION
LIABILITY
OWNERSHIP
MEMBERSHIP
ROC stands for
Regional office certificate
Registrar of Companies
Region of corpus
Register of companies
Which of the following is a special feature of a Company?
Artificial Person
Separate Legal Entity
Limited Liability
All of them
The provisions of the Companies Act, 2013 are applicable to
Private Company only
Public Company Only
Government Company only
All Companies
Reserve Bank of India, Life insurance Corporation are examples of ....
Statutory Company
Government Company
Foreign Company
Chartered Company
When a company is formed for improper conduct or fraud...
Corporate Veil is recognized by court
Corporate Veil is lifted by court
Corporate Veil does not exist
When a company is formed for improper conduct or fraud...
Corporate Veil is recognized by court
Corporate Veil is lifted by court
Corporate Veil does not exist
A company is a contractual entity created by its members
True
False
A company has a distinct personality,however, it is free to do whatever it likes.
True
False
The Registrar shall register any alteration of the memorandum with respect to the objects of
the company and certify the registration within a period of ________ from the date of filing
of the special resolution
30 days
60 days
90 days
120 days
K Ltd. was in the process of incorporation. Promoters of the company signed an agreement for the
purchase of certain furniture for the company and payment was to be made to the suppliers of furniture
by the company after incorporation. The company was incorporated and the furniture was received and
used by it. Shortly after incorporation, the company went into liquidation and the debt could not be
paid by the company for the purchase of the above furniture. As a result supplier sued the promoters of
the company for the recovery of money.
Examine whether promotes can be held liable for the payment under the following situation:
1. When the company has already adopted the contract after incorporation
Promoter is liable
company is liable
Promoter partly liable
Before the incorporation of the company, the promoters of the company entered into an agreement
with Mr. Jainson to buy an immovable property on behalf of the company. After incorporation, the
company refused to buy the said property. Advise Mr. Jainson whether he has any remedy under the
provisions of the Companies Act?
Promoter has a remedy
Mr Jainson has no remedy against the company
Mr Jainson has a remedy against the company
Mr Jainson may hod the promoters responsible
The articles of association of a limited company provided that ‘X’ shall be the law officer of the
company and he shall not be removed except on the ground of proved misconduct. The company
removed him even though he was not guilty of misconduct. Decide, whether company’s action is valid?
The company's action is valid
The company's action is valid and X has no remedy against the company
Memorandum and articles do not bind the members to the outsiders
