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WorksheetsCorporate Law - UNIT I
Total questions: 60
Worksheet time: 30mins
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
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)
The process of forming a company where it becomes a legal entity is known as ______.
Incorporation
A franchise
Liquidity
Goodwill
The minimum number of Directors in a Public Company
2
3
10
15
ROC stands for
Regional office certificate
Registrar of Companies
Region of corpus
Register of companies
WHAT IS THE MINIMUM NUMBER OF MEMBER REQUIRED TO FORM A PUBLIC COMPANY?
2
4
7
9
Private Company have the right to transfer its shares.
This statement is ..?
True
False
A Private company must have a paid-up share capital of minimum
5 Lakh
1 Lakh
3 Lakh
10 Lakh
A public company has a minimum paid-up share capital of ........... rupees or more
10 Lakh
5 Lakh
15 Lakh
3 Lakh
A Company is an artificial person created by .... .
Law
Human Being
Result of an commercial activity
A ___________ is a legal entity which has a separate identity from it shareholders, whose liability for the company’s debts is limited.
Limited liability
Limited company
Partnership
Unlimited liability
---------- is the constitution of the company
Memorandum
Articles
Prospectus
Agenda
Articles of Association is the foundation upon which the whole structure of the company is built up
True
False
Doctrine of constructive notice do not affect the company but only the third party
True
False
Doctrine of indoor management safeguards----
Company
Director
Third party
Ignorant stranger
What are the exception to the doctrine of indoor management ?
Knowledge or irregularity
Negligence
Perpetual succession
Limited liability
Minimum number of members required to form a public company are
2
5
7
3
Private Company have the right to transfer its shares.
This statement is ..?
True
False
Memorandum of Association contains–
Objective clause
Name clause
Capital clause
All of the above
One of the following is not covered in the Articles of Association
Transfer and Transmission of Shares
Borrowing Powers of Directors
Capital Clause
Meetings
Doctrine of indoor management is also known as
Turquand's rule
Royal British rule
Both of the above
None of the above
Which is the website for registration of the companies?
www.registeringcompanies.com
www.mca.gov.in
www.mca.gov.com
none of the above
The liability of members if company is limited by shares
Unpaid value of shares
Guarantee amount
Unlimited Liability
None of the above amount
______ conceives the idea of the business
Promoters
Directors
Auditors
None of the above
Address of the registered office is situated in
AOA
MOA
Prospectus
None of the above
_______stands in the fiduciary position of the company
Promoters
Directors
Auditors
None of the above
The companies which are established by king and queen is known as
Statutory companies
Chartered companies
Registered companies
Government companies
---------- is the most popular types of companies
Statutory companies
Association for profit
Registered companies
One person company
Which company should not transfer shares?
Private company
Public Company
Government company
Domestic company
Reserve Bank of India, Life insurance Corporation are examples of ....
Statutory Company
Government Company
Foreign Company
Chartered Company
In case of government companies more than 50% shares are hold by
Central government
State government
Partly by State & Central govt
All of the above
Which type of a company is this ?
STATUTORY CO
CHARTERREC CO
CHARTERED CO
NONE
Articles of Association is the foundation upon which the whole structure of the company is built up
True
False
---------- is the constitution of the company
Memorandum
Articles
Prospectus
Agenda
To alter the Memorandum , we need approval from
Municipality
Board of Directors
Central Government
State Government
1. The term ‘ultra vires’ means------------------
with the power
Beyond the power
Directors power
Shareholders power
Can an ultra vires Act be ratified?
Yes
No
-----Document contains the rules and regulations regarding the internal management
Memorandum
Articles
Certificate of incorporation
Minutes
The main provisions regarding the AOA are found in Secs. ----of the Act
5,6 and 7
5,8 and 10
5,10 and 14
10,14,15
Table A in schedule I of the Act explains about AOA
True
False
To ratify AOA -------resolution is needed
General
Special
quorum
Minutes
MOA is a ----------------------------document
Principal
Secondary
Optional
Computer
Articles of Association is subordinate to --------
Company Law
Central Government
Memorandum
Prospectus
Doctrine of constructive notice do not affect the company but only the third party
True
False
Doctrine of constructive notice is a
Positive doctrine
Negative doctrine
Doctrine of indoor management safeguards----
Company
Director
Third party
Ignorant stranger
What are the exception to the doctrine of indoor management ?
Knowledge or irregularity
Negligence
Perpetual succession
Limited liability
----------- company is prohibited to issue prospectus
Private company
Public company
Investment company
Government company
Every co. must use the word "ltd." or "Pvt. Ltd." except
Charitable companies
Non- Trading company
All of the above
Property of the company belongs to
Shareholders
company
members
promoters
The word 'Ltd' is used for--------- company
Private company
Public Company
Guarantee company
Listed company
Which is not a characteristics of a company?
Legal personality
Limited liability
Perpetual succession
No common seal
A company with one director and one shareholder is called ____________
OCP
OPC
CSR
OPP
Reliance industries which is headed by Mukesh Ambani is an example of ___________
Chartered Company
Registered Company
One Person Company
Statutory Company
Can an One Person Company be converted into a Public/Private Company?
Yes
No
