A company is called an artificial person because
|A.||it does not have the shape of a normal man.|
|B.||it cannot be sued in the court of law.|
|C.||it is invisible and intangible.|
|D.||it exists only in contemplation of law.|
|Answer» D. it exists only in contemplation of law.|
The ‘common seal’ of the company should have
|A.||the company’s name.|
|B.||the words ‘corporate seal’.|
|C.||the place of the company.|
|D.||all the above.|
|Answer» D. all the above.|
Power to use official seal of the company outside India is to be authorized by.
|A.||article of association.|
|B.||memorandum of association|
|C.||both memorandum and article of association.|
|Answer» A. article of association.|
A company comes into legal existence as a person on.
|A.||approval by company law tribunal to commence business.|
|B.||approval by central government as being a bonafide company.|
|C.||acceptance of legal documents by the registrar for its incorporation.|
|D.||issue of certificate of incorporation by the registrar of companies.|
|Answer» D. issue of certificate of incorporation by the registrar of companies.|
The word ‘Limited’ can be dropped from a company’s name only when.
|A.||the company is formed for promotion of commerce, art, science, religion, charity or any other useful object.|
|B.||the company prohibits the payment of dividends.|
|C.||both (a) and (b).|
|D.||the central government deems it fit.|
|Answer» C. both (a) and (b).|
A public company can be called as a body corporate after it.
|A.||receives certificate of commencement of business.|
|C.||receives certificate of incorporation.|
|D.||receives approval from the registrar for the proposed name of the|
|Answer» C. receives certificate of incorporation.|
A registered company is the company which is incorporated.
|A.||under the companies act, 1956.|
|B.||by a special notification of the central government.|
|C.||under the indian registration act.|
|D.||by a special act of parliament or state.|
|Answer» A. under the companies act, 1956.|
The minimum number of members required to form a ‘public Company’ is.
|Answer» B. 7|
The minimum and maximum number of members in a private company are.
|A.||7 and 50.|
|B.||2 and 50.|
|C.||3 and 100.|
|D.||2 and unlimited.|
|Answer» B. 2 and 50.|
Converting a public company into a private company requires a special resolution.
|A.||passed by the members and with sanction of the central government.|
|B.||passed by the members and approved by the registrar of companies.|
|C.||passed by the members and approved by the company law tribunal.|
|D.||passed by the members and approved by the auditors.|
|Answer» A. passed by the members and with sanction of the central government.|
In which of the following conditions, a company will be reckoned a foreign company?
|A.||if the company is established outside india and has a place- of business in india.|
|B.||a company incorporated outside india having shareholders who are all indian citizens and having its business outside india.|
|C.||a company incorporated in india but having all foreign shareholders.|
|D.||both (a) and (b).|
|Answer» A. if the company is established outside india and has a place- of business in india.|
Legal position of a promoter of a company is.
|A.||that of an agent.|
|B.||that of a trustee.|
|C.||that of a solicitor.|
|D.||in a fiduciary capacity.|
|Answer» D. in a fiduciary capacity.|
A company is said to have been registered when?
|A.||it files memorandum of association and articles of association.|
|B.||it gets incorporation certificate with the registrar of companies.|
|C.||it gets certificate for commencement of business.|
|D.||it actually starts its business.|
|Answer» B. it gets incorporation certificate with the registrar of companies.|
A private Limited company commences business.
|A.||at any time.|
|B.||after obtaining the certificate of incorporation.|
|C.||after obtaining the certificate to commence business.|
|D.||none of the above.|
|Answer» B. after obtaining the certificate of incorporation.|
Certificate of commencement of business is not required by.
|A.||a public company.|
|B.||a private company.|
|C.||both public and private companies.|
|D.||private company subsidiary to a public company.|
|Answer» B. a private company.|
The companies (Amendment) Act , 2000 provides new section 292 A for constitution of audit committees by every public company having a paid- up capital of.
|A.||rs.10 lakh or more.|
|B.||rs. 50 lakh or more.|
|C.||rs.1 crore or more.|
|D.||rs.50 million or more.|
|Answer» D. rs.50 million or more.|
An Audit Committee may include.
|C.||non- executive directors.|
|Answer» D. all.|
Which of the following reports included clause 49 in the listing agreement.
|B.||kumaramangalam birla report.|
|D.||l.c. gupta report.|
|Answer» B. kumaramangalam birla report.|
Audit committee shall act in accordance with the terms of reference to be specified by.
|C.||board of directors.|
|Answer» C. board of directors.|
The Statutory Auditors of the company are appointed by.
|A.||share holders in annual general meeting.|
|B.||board of directors.|
|C.||company law boa|
|Answer» A. share holders in annual general meeting.|
Remuneration Committee is made up of.
|Answer» A. independent directors.|
Executive Directors are those directors who.
|A.||are men from outside the board.|
|B.||occupy management position.|
|C.||are independent directors.|
|D.||elect the board committee.|
|Answer» B. occupy management position.|
The company agrees that the remuneration of non- executive directors shall be decided by.
|A.||board of directors.|
|Answer» A. board of directors.|
An Article constitutes a contract between.
|A.||the company and its members.|
|B.||the members and outsiders.|
|C.||the company and the outsider.|
|D.||all the above.|
|Answer» A. the company and its members.|
Name of a company can be changed by.
|A.||an ordinary resolution.|
|B.||a special resolution.|
|C.||an approval of the central government.|
|D.||a special resolution and with approval of the central government.|
|Answer» D. a special resolution and with approval of the central government.|