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WorksheetsCompanies Act, 2013
Total questions: 65
Worksheet time: 33mins
Name
Class
Date
1.
Common seal is same as the official signature of Board of Directors
a)
true
b)
Depends on MOA
c)
false
d)
Depends on AOA
2.
Common seal is inavalid infront of CEO's signature
a)
true
b)
false
c)
Depends
d)
Cannot determine
3.
Common seal is mandatory
a)
false
b)
true
c)
Depends
d)
None of the above
4.
A company is a company registered under________
a)
any previous company law
b)
Companies Act, 2013 or other previous company law
c)
Any law
d)
MRTP Act, 1969
5.
There are ___ types of company limited by shares
a)
3
b)
4
c)
2
d)
None of the above
6.
Though a company is an artificial legal person, it can act only through _______ agency
a)
Legal
b)
Artificial
c)
Human & Animal
d)
Human
7.
Since a company is an artificial legal person, existence of its members _______ effect the existence of the company
a)
will
b)
will not
c)
None
d)
Depends
8.
Members of the company _____ contract with the company
a)
can never
b)
can
c)
can not
d)
can sometimes
9.
Which among the below is not a feature of a company?
a)
Common seal
b)
Limited liability
c)
Artificial legal person
d)
None of the above
10.
Which among the below is not a feature of a company?
a)
Common seal
b)
Artificial legal person
c)
Perpetual succession
d)
Unlimited liability
11.
Corporate veil is a legal _________
a)
Shield
b)
Fence
c)
Concept
d)
Provision
12.
Corporate veil theory protects _______ from _______
a)
Company, Members
b)
Members, Outsiders
c)
Members, Company
d)
Comapny, Outsiders
13.
Who can lift the corporate veil?
a)
anyone
b)
BOD
c)
members
d)
Law
14.
A company is formed to act as an agent of another company. But such formed company is not a subsidiary. Now, the corporate veil ______ be lifted.
a)
will
b)
never
c)
may
d)
can
15.
In case of a company incorporated to breach contracts and do fraud with its fraudulent creditor, the corporate veil _____ be lifted.
a)
can not
b)
can
c)
can never
d)
will not
16.
There are ___ types of company limited by shares
a)
3
b)
4
c)
2
d)
None of the above
17.
Unlimited liability arises upon _______
a)
Incorporation
b)
Naming
c)
Bankruptcy
d)
Winding Up
18.
In a company limited by guarantee, the guarantee has to be paid by the members upon _____
a)
When liability arises
b)
Upon Incorporation
c)
Upon winding up
d)
None
19.
MNO company incorporated a subsidiary company ABD, it got a benefit of 10% less tax by starting that company. But the sole intention of formation was not to save tax. Now, the corporate veil _____ be lifted
a)
will
b)
will not
c)
surely
d)
none
20.
As per government rules a person can work as a labour for maximum 6 hours a day in a company. MNC company where workers worked for 10 hours, opened a subsidiary company and showed that employees worked only for 5 hours in one company. Can the law pierce the corporate veil?
a)
Yes
b)
No
c)
Depends
d)
None
21.
Public company is any company which is not
a)
Private
b)
OPC
c)
Small
d)
All of the above
22.
OPC is _______ a private company
a)
never
b)
always
c)
sometimes
d)
None of the above
23.
For a small company, paid up capital and turnover of immediately preceeding year ______ be more than _____ and _____ respectivley.
a)
must, 2 crore, 20 crore
b)
must not, 50 lakhs, 2 crore
c)
Must not, 2 crore, 20 crore
d)
None of the above
24.
Minimum number of members in a private company is _____ and one in ______
a)
2, small company
b)
2, OPC
c)
3, OPC
d)
None of the above
25.
Member / Nominee of an OPC _____ be a natural person
a)
can
b)
may
c)
must
d)
might
26.
One person company has been introduced to encourage
a)
entrepreneurship
b)
corporatization of business
c)
Both
d)
None of the above
27.
Shares are freely transferable in
a)
Public Company
b)
Private Compnay
c)
One Person Company
d)
All
28.
ABC Co. has 48% control in AB. AB is a ______ ?
a)
Subsidiary
b)
Associate
c)
Private
d)
Both a & b
29.
For a government company, government must be holding ______ of stake.
a)
> 51%
b)
> 20%
c)
> 50%
d)
any rate
30.
A foreign company must have offline business in India to be valid.
a)
true
b)
false
c)
Both partially
d)
None of the above
31.
Who gives special permission, rules and conditions to section 8 companies?
a)
ROC
b)
Court
c)
Central Government
d)
PM
32.
Dormant company is a _______ company
a)
Public
b)
Private
c)
Inactive
d)
All of the above
33.
PFI is always a government company.
a)
True
b)
Not always
c)
false
d)
None of the above
34.
Dormant company is incorporated to
a)
hold intellectual propertry
b)
Undertake future projects
c)
is an inactive company
d)
All of the above
35.
OPC _______ be as a section 8 company.
a)
can
b)
can not be
c)
may
d)
will
36.
Which of the following is not a significant acconting transaction
a)
payment of fees by a company to the Registrar
b)
payments made by it to fulfil the requirements of this Act or any other law
c)
allotment of shares to fulfil the requirements of this Act
d)
None
37.
Registration of a company is _____
a)
Compulsory
b)
Oprional
c)
Can be done as and when required
d)
All
38.
The person responsible for registration of a company is ____
a)
Promoter
b)
Director
c)
Shareholder
d)
All
39.
Sec 8 Company can use ____
a)
club
b)
chambers of commerce
c)
Foundation
d)
All
40.
All the documents filed must be maintained at the _____
a)
Head Office
b)
Branch Office
c)
Registered Office
d)
Any of the above
41.
There are ______ types of capital.
a)
5
b)
4
c)
8
d)
2
42.
Which of the following is not a type of capital?
a)
Issued
b)
Subscribed
c)
Registered
d)
None
43.
Which of the following is a type of capital?
a)
Nominal
b)
Authorised
c)
Both a & b
d)
None
44.
Paid up capital is a part of ________.
a)
Nominal
b)
Called up
c)
Subscribed
d)
All of the above
45.
Issued capital must be allotted for cash only.
a)
true
b)
false
c)
Depends
d)
Cannot be determined
46.
The disclosure of issued capital in balance sheet is ________.
a)
Mandatory
b)
Optional
c)
Unnecessary
d)
Dependant on MOA
47.
Contribution of people in common stock of the company is _______.
a)
Investment
b)
Ownership
c)
Capital
d)
All of the above
48.
____________ is the nominal number of shares taken up by public.
a)
Registered
b)
Subscribed
c)
Paid up
d)
All of the above
49.
MOA of a company is also known as the ______ of the company
a)
carrier
b)
charter
c)
chartered
d)
courier
50.
Number of compulsory clauses in MOA are ____
a)
5
b)
7
c)
6
d)
4
51.
Which of the following is compulsory to write in MOA?
a)
Authorised capital
b)
Registered capital
c)
Nominal capital
d)
All of the above
52.
Which of the following is compulsory to write in MOA?
a)
Paid up capital
b)
Called up capital
c)
Nominal capital
d)
All of the above
53.
The details of first subscribers of the company is ______ to write in MOA.
a)
mandatory
b)
unncessary
c)
Not compulsory
d)
None of the above
54.
The MOA must be signed in the presence of _____ witness.
a)
atleast 1
b)
maximum 2
c)
n number
d)
doesn't matter
55.
Other than the pre-fixed compulsory clauses, other clause ______ be added.
a)
can
b)
can not
c)
may
d)
might
56.
MOA is a _______ notice.
a)
confidential
b)
public
c)
social
d)
capital
57.
For the Doctrine of constructive notice to apply, it is mandatory that the person must read it.
a)
Absolutely right
b)
Utter false
c)
Depends on person
d)
Depends on MOA
58.
Reading only MOA is enough.
a)
Partially true
b)
false
c)
true
d)
a & c
59.
____________ protects the company from insiders.
a)
Doctrine of Constructive Notice
b)
Prime Minister
c)
Corporate veil
d)
Law
60.
Doctrine of Constructive Notice protects the _______ from _______.
a)
outsiders, company
b)
company, creditors
c)
company, income tax
d)
company, outsiders
61.
_________ is an exception to Doctrine of Constructive Notice.
a)
Indoor management
b)
Doctrine of Indoor Management
c)
Constitution
d)
Corporate Veil
62.
Third party _____ know all the matters of the company.
a)
can
b)
must
c)
can not
d)
should
63.
________ protects third party against company.
a)
Doctrine of Constructive Notice
b)
Doctrine of Indoor Management
c)
Both
d)
None
64.
Which of the following are exceptions to Doctrine of Indoor Management?
a)
Notice of irregularity
b)
Suspicion of irregularity
c)
Forgery
d)
All
65.
Doctrine of Indoor Management protects _______ from _______.
a)
Third party, company
b)
Company, third party
c)
Insiders, outsiders
d)
None
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