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McqMate
Chapters
1. |
______ conceives the idea of the business |
A. | Promoters |
B. | Directors |
C. | Auditors |
D. | None of the above |
Answer» A. Promoters |
2. |
_______stands in the fiduciary position of the company |
A. | Directors |
B. | Promoters |
C. | Auditors |
D. | None of the above |
Answer» B. Promoters |
3. |
______ are the contracts entered into by promoters on behalf of a prospectus company. |
A. | Provisional contracts |
B. | Pre Incorporation contracts |
C. | Preliminary contracts |
D. | Both a) & b) |
Answer» D. Both a) & b) |
4. |
Contracts made after incorporation but before the grant of Certificate of commencement of Business _____ |
A. | Provisional contracts |
B. | Pre incorporation contracts |
C. | Preliminary contracts |
D. | Both (b) & (c) |
Answer» C. Preliminary contracts |
5. |
Pre incorporation contract is also known as _________ |
A. | Provisional |
B. | Preliminary |
C. | illegal |
D. | legal |
Answer» B. Preliminary |
6. |
A public company can borrow money ___________ |
A. | before incorporation |
B. | Soon after incorporation |
C. | after issuing a proposal |
D. | after obtaining certificate to commerce business. |
Answer» D. after obtaining certificate to commerce business. |
7. |
A private company can borrow funds |
A. | after incorporation |
B. | after obtaining certificate to commerce business |
C. | after holding first annual general meeting |
D. | None of the above |
Answer» A. after incorporation |
8. |
A promoter is a person who |
A. | is a director. |
B. | is a relative of the company. |
C. | is a wellwisher of the company. |
D. | takes part in the companys incorporation. |
Answer» D. takes part in the companys incorporation. |
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