Quiznetik

Company Law | Set 1

1. _________ Order to call a EGM even though 1 member present in person or by proxy.

Correct : B. c.g

2. The time period for conduction of AGM is extended by ROC for how many months

Correct : C. 3

3. Maximum rate of discount that can be allowed on issue of shares

Correct : B. 10%

4. Liability under_____ sec. may be imposed only if it is proved that the companies business has been carried on with a view to defraud the creditors

Correct : C. 542

5. The time gap between two AGM’s shall not exceed.

Correct : A. 15 months

6. Age limit of Directors in case of private company is ___________

Correct : D. no limit

7. Debentures payable to a holder of certificate is called_____

Correct : A. bearer

8. Minimum paid up share capital in case of a public company is _____

Correct : C. 5 lakhs

9. The company must deliver share certificate within______ if the shares applied for transfer.

Correct : B. 2 months

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

Correct : A. under the company’s act

11. Share warrants can be issued with the prior approval of the____

Correct : C. registrar

12. Minimum no. of Directors in case of a public company is ___

Correct : C. 3

13. Which of the following is not a member of a company?

Correct : A. partnership firm

14. Debentures payable to person whose name appears both on Debenture Certificate and company’s register is called

Correct : C. registered

15. ___ is issued in acknowledgement of any indebtedness

Correct : A. debenture certificate

16. In case of Non -Profit making Companies notice of general meeting should be given with in _____ days

Correct : A. 14

17. Change in objects clauses can be effected

Correct : B. for special reason only

18. Which of the following is a right of the members of a company_____

Correct : D. all the above

19. Which of the following can issue the share warrant

Correct : A. public

20. In case of continuing default to convene the AGM fine is Rs.___________ for every day.

Correct : A. 250

21. Transfer of shares in the case of public company is

Correct : C. freely transferable

22. In the given below who are required to hold A.G.M___________

Correct : A. public company

23. U/s 274 (f) (g) directors are disqualified for how many________ years.

Correct : C. 5

24. Where the registrar strikes off the register the name of a company as a defunct one, the court has the power to order restoration of name with in:

Correct : C. 10 years

25. A share warrant is transferable by ____________

Correct : B. by delivery

26. Every AGM must be held with ___ from the date of the Balance Sheet.

Correct : C. 9 months

27. After the expiry of how much time the company must think that the permission was not granted

Correct : C. 10 weeks

28. The resolution passed at AGM are__________

Correct : A. valid

29. Own funds are called

Correct : B. share capital

30. 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

31. In case of red-herring prospectus the refund is made with an interest @_____

Correct : C. 15

32. If the guarantee Co. having no share capital the liability of shareholders will be

Correct : A. to the extent of guarantee

33. First AGM must be held within_____________ from the incorporation of the company

Correct : B. 18 months

34. The doctrine of__________ does not apply to acts void ab initio.

Correct : D. indoor management

35. Cumulative preference share holders have voting right if dividend are in arrears for years

Correct : B. 2

36. In case of Partly Convertible Debentures non-convertible portion is classified as_____

Correct : A. debt

37. Transmission is effected by

Correct : D. both (b) & (c)

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

Correct : D. all of the above

39. Deposits should issued with in__________ weeks from the date of receipt of money.

Correct : D. 8

40. If minimum subscription is not received application money should be refunded with in _____ days

Correct : D. 10

41. Information memorandum + shelf prospectus together constitutes_____

Correct : C. prospectus

42. In the event of appointing a proxy joint holders shall sign the proxy form

Correct : B. jointly

43. Minimum number of members in case of private company is

Correct : B. 2

44. Maximum no .of members in case of public company is

Correct : B. unlimited

45. Ques. The liability of members if company is limited by guarantee.

Correct : B. guarantee amount

46. Which one of the following has a right to claim compensation for any loss due to mis-statement 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. The liability of members if company is limited by shares

Correct : A. unpaid value of shares

49. Forfeiture can be made only if it is authorized by ______

Correct : B. moa

50. Name of the member is struck off from the register in case of____________

Correct : B. share warrant

51. A company can become a members of another company if it is so authorized by______

Correct : A. moa

52. Validity period of information memorandum is___________

Correct : A. 1 year

53. Central Government permission is required in case of_____ conversion____

Correct : B. public to private

54. Paying back of capital is called

Correct : A. redemption

55. Proxies cannot vote on_________

Correct : A. show of hands

56. Minimum number of members in case of public company

Correct : D. 7

57. Minimum no. of Directors in case of private company is __________

Correct : B. 2

58. A company is named as govt. company if it is holds_________ % of paid up share capital

Correct : C. more than 50

59. _______ % of shares should be held by a company in another company so as to become subsidiary

Correct : A. more than 50

60. In case of Non -Profit making Companies books of accounts are required to be preserved for _____ years

Correct : B. 4

61. Accepting of deposits from public in case of private company is

Correct : A. prohibited

62. Stamp duty on registration of the company is payable based on____________ capital.

Correct : C. both (a) & (b)

63. ____ are the shares issued by the company to it employees or directors for consideration other than cash

Correct : B. sweat

64. ________ resolution should be passed by the company to offer shares to outsiders

Correct : A. special resolution

65. The doctrine of indoor management is an_________ to the doctrine of constructive notice

Correct : B. extension

66. Ques. Companies are now allotted a_________ in addition to their name

Correct : D. CIN

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

Correct : C. 30

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

Correct : C. association clause

69. If any body wants to file a case against the company they should file at what place _____

Correct : B. registered office

70. Ultra vires loans granted by the company are

Correct : A. void

71. conceives the idea of the business

Correct : A. promoters

72. Company is recognized by _________________

Correct : B. Common Seal

73. Company Law disputes are referred to_____________

Correct : B. NCLT

74. One of the feature of Company as _______________

Correct : B. Perpetuity

75. _____________ Company can be classified on based control company.

Correct : D. Holding

76. Company registered under Sec. 8 as per 2013 amendment can _________

Correct : C. not earn profits

77. Company act 2013 have __________ number of sections

Correct : C. 470

78. Theory which gives explanation to ‘lifting the corporate Veil” is _______

Correct : B. Bracket Theory

79. Corporate is person ficta ‘fictitious person’ _______________

Correct : C. Fiction theory

80. Public limited company paid up capital share is Rupees ______________

Correct : B. 5,00,000

81. Memorandum of Association has ________ clause

Correct : A. 7

82. Registered address of the company can be reported to registrar maximum within ____________ days.

Correct : B. 30

83. Retrospective correction can be done, even after execution of action in

Correct : A. Article of Association,

84. Company is defined under ____________

Correct : A. S.3 (1) (i)

85. Company registered under Company Law is _________

Correct : B. Registered Company

86. Private Company is defined under __________

Correct : A. S.3 (1) (iii)

87. Private Company restricts the number of its members up to _________

Correct : D. 50

88. Which one of the following statements is true __________

Correct : D. All are false.

89. Government Company is defined under ________

Correct : B. S.617

90. Which one of these cases, it was decided that a company incorporated by a single person can also have a separate legal entity ________

Correct : B. Ashbury Railway carriage Co. v/s. Riche.

91. Which one of these cases, is not related to separate entity of the company ____

Correct : D. Southern Foundaries Ltd. v/s. Shirla.

92. In which one of these cases, the doctrine of ultra vires was laid down ________

Correct : A. Ashbury Railway Carriage & Iron Co. Ltd. v/s. Riche.

93. The doctrine which says company is collective will and has its real psychic existence is based on __________

Correct : B. Realist Theory.

94. If direction to change the name of the company is given by the Central Government, the Company must change its name within ______________

Correct : C. Three months

95. Which of the firm must not have Articles of Association? _______________

Correct : D. LLP

96. The doctrine of Indoor Management seeks to protect _____________

Correct : A. Outsiders against the company.

97. The rule of constructive notice seeks to protect_____________

Correct : A. The company against the outsiders.

98. The Prospectus must be issued within ______________

Correct : A. 90 days of its registration.

99. Every person who knowingly issues a Prospectus without registration, is punishable _______________

Correct : A. With fine upto Rs.5000/-

100. In case of every company, a meeting of the Board of Directors shall be held at least____________

Correct : C. Once in every three months.