Quiznetik

Corporate Regulations | Set 1

1. How many members should sign the MOA in case of public company ______.

Correct : D. 7

2. How many members should sign the MOA in case of private company ________

Correct : B. 2

3. In case of appointment of Directors ______ form is to be filed

Correct : A. 29

4. ______ is the conclusive evidence in case of company that statutory requirements have complied with

Correct : A. certificate of incorporation

5. Private company can start its business immediately after the issue of

Correct : B. certificate of incorporation

6. The doctrine of indoor management is an ______to the doctrine of constructive notice

Correct : B. Extension

7. The doctrine of _________ does not apply to acts void ab initio.

Correct : D. Indoor management

8. A company can change its name at its own discretion by passing _________

Correct : B. Special resolution

9. Any change in the address of the registered office must be communicated to the registrar within:

Correct : C. 1 Month

10. An act ultra virus the directors can be rectified if it is not ultra vires

Correct : C. Company Act

11. The lending of funds ultra vires, the company has no rights

Correct : A. under the company’s Act

12. If a new company get registered with a name which resembles the name of existing company then it should apply to whom?

Correct : A. NCLT

13. Companies are now allotted a _______ in addition to their name

Correct : D. CIN

14. In how many days did the company have its registered office after incorporation

Correct : C. 30

15. Under which sec. if company fails to commence its main object the court may order winding up

Correct : D. 433 (f)

16. In case of forgeries acts done in the name of the company are

Correct : C. Void ab initio

17. Signature of memorandum and articles should be done by ___________ number of persons in case of public company

Correct : A. 7

18. Signature of memorandum and articles should be done by ___________number of persons in case of private company

Correct : C. 2

19. MOA should be in form ____________ in case of company limited by shares

Correct : B. Table B

20. MOA should be in form ____________ in case of company limited by guarantee not having share capital

Correct : C. Table C

21. MOA should be in form ________ in case of company limited by guarantee and having share capital

Correct : D. Table D

22. MOA should be in form ____________ in case of a unlimited liability

Correct : C. Table E

23. In the MOA there are 6 clauses. We can alter all clauses expect one clause. What is that clause?

Correct : C. Association clause

24. If anybody wants to file a case against the company they should file at what place _________

Correct : B. Registered Office

25. Address of the registered office is situated in

Correct : B. AOA

26. Which of the following need not have MOA

Correct : D. Statutory Corporation.

27. A company can change its name by passing

Correct : D. None of the above

28. Ultra vires means

Correct : A. Beyond the power

29. Ultra vires loans granted by the company are

Correct : A. Void

30. What is known as a charter of a Company?

Correct : A. Memorandum

31. The granting of the certificate of incorporation renders the illegal objects include in the memorandum:

Correct : B. Void

32. Change in objects clauses can be effected

Correct : B. For special reason only

33. The capital clause of a company can be changed with the permission of _____________

Correct : C. Court

34. ______ conceives the idea of the business

Correct : A. Promoters

35. _______stands in the fiduciary position of the company

Correct : B. Promoters

36. ______ are the contracts entered into by promoters on behalf of a prospectus company.

Correct : D. Both a) & b)

37. Contracts made after incorporation but before the grant of Certificate of commencement of Business _____

Correct : C. Preliminary contracts

38. Pre incorporation contract is also known as _________

Correct : B. Preliminary

39. A public company can borrow money ___________

Correct : D. after obtaining certificate to commerce business.

40. A private company can borrow funds

Correct : A. after incorporation

41. A promoter is a person who

Correct : D. takes part in the companys incorporation.

42. When there is a untrue statement in a prospectus who can sue

Correct : A. Subscribed in primary market

43. Definition of prospectus was given under which sec.

Correct : D. 2 (36)

44. Which of the following are not required to issue prospectus?

Correct : D. All the above

45. _______are the prospectus issued instead of full prospectus

Correct : A. Abridged

46. Which one of the following has a right to claim compensation for any loss due to misstatement in prospectus

Correct : A. Purchasing shares in Primary Market

47. _______ years of imprisonment will be imposed in case of issue of prospectus with untrue statements

Correct : B. 2

48. What is the liability not delivering that can be imposed for statement in lieu of prospectus_________

Correct : A. Fine – 10,000

49. _______ are the prospectus issued by the issuing house

Correct : A. Deemed prospectus

50. _________ prospectus were issued in case securities were issued in stages

Correct : B. Shelf

51. ________are required to file prior to making second and subsequent issue of securities in case shelf prospectus are filed:

Correct : A. Information memorandum

52. Information memorandum + shelf prospectus together constitutes ________

Correct : C. Prospectus

53. Validity period of information memorandum is _______

Correct : A. 1 year

54. _________ prospectus were issued in order to test the market before finalizing issue size/ price.

Correct : C. Red herring

55. What is the punishment for directors, promoters and other persons for Misrepresentation in prospectus

Correct : C. Both of the above

56. When a private company is converted into public company. In which form it should be

Correct : B. Schedule IV

57. A statement in lieu of prospectus is required to be issued

Correct : B. by public companies when shares are issued among friends and relatives

58. A company must inform the registrar about redemption of preference shares with in

Correct : C. 30 days

59. Share premium amount is treated as the __________ capital of a company

Correct : B. Reserve

60. A company can create ‘reserve capital’ by passing__________

Correct : B. a special resolution

61. The capital which is part of the uncalled capital of the company which can be called up only in the event of its winding up it is called

Correct : D. Reserve capital

62. XYZ Co. is a holding of XZ Pvt. Company. XZ Co. issued deferred shares. The issue is valid or void

Correct : B. Void

63. What is the maximum period for redemption in case of preference shares issued by the company?

Correct : C. 20 years

64. Capital redemption reserve must be used for issue of

Correct : A. Fully paid bonus shares

65. Part of the issued capital taken by public is called ___________

Correct : A. Subscribed

66. Part of authorized capital which is offered by the company for subscription.

Correct : B. Issued

67. Stamp duty on registration of the company is payable based on _________capital.

Correct : C. Both a & b

68. Deferred shares are also known as ____________ shares

Correct : A. Founders

69. _________ Preference shares carry the right to cumulate the dividends

Correct : B. Cumulative

70. Paying back of capital is called

Correct : A. Redemption

71. Premium amount on the securities are transferred to ________account

Correct : D. None

72. ____are the shares issued by the company to it employees or directors for consideration other than cash

Correct : B. Sweat

73. Cumulative preference share holders have voting right if dividends are in arrears for years

Correct : B. 2

74. _______ form is to be find in case of variation rights of share holders

Correct : B. 19

75. _________ is an aggregate of fully paid share that have been legally consolidated.

Correct : B. Stock

76. _________have fixed denomination

Correct : A. Share

77. ________resolution should be passed by the company to offer shares to outsiders

Correct : A. Special resolution

78. Company must pass ________ for reducing its share capital

Correct : B. S.R

79. Court order the company to add _________ after reducing its share capital

Correct : A. And reduced

80. For reducing its share capital it should give notice to whom?

Correct : B. Creditors

81. Reduction & diminution is done under which sec.

Correct : A. 100 & 94

82. Which of the following can be used for buy back of shares

Correct : D. All of the above

83. Buy back by board resolution can only be upto _________

Correct : B. 10

84. Buy back should be less than or equal to _________% of total paid up capital

Correct : A. 25

85. In case of buy back debt equity ratio should be ________

Correct : B. 2:1

86. Every buy back shall be completed within _____ month from the date of passing the S.R.

Correct : D. 12

87. __________companies are permitted to buy back its shares

Correct : B. Solvent

88. Buy back securities should be physically destroyed within ________days

Correct : A. 7

89. After buy back company can’t issue the same kind of shares for ________months

Correct : A. 6

90. Within 30 days of completion of buy back company shall file the details with whom _________

Correct : A. Registrar

91. If buy back is made from free resources then what should be created __________

Correct : B. Capital Redemption Reserve

92. The premium amount that can be charged as per companies Act.

Correct : D. None of these

93. A company to issue sweat equity shares must pass a.

Correct : A. Special resolution

94. The notice offering right shares must allow the members ________to exercise their option to accept, reject or renounce it

Correct : C. 15 days

95. The company must deliver share certificate within ___________ if the shares allotted by company.

Correct : B. 3 months

96. The company must deliver share certificate within ___________ if the shares applied for transfer.

Correct : B. 2 months

97. Share warrants can be issued with the prior approval of the _____________

Correct : C. Registrar

98. Stamp duty to be paid at the time of issue of share certificate is.

Correct : A. Nominal

99. Stamp duty to be paid at the time of issue of share warrant.

Correct : C. Very high

100. ______ specifies the time limit with in which share certificate is to be delivered

Correct : D. sec 113