McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
| 151. |
The minutes of the share holder’s meeting are to be kept at the ……….office of the company and must be open to inspection. |
| A. | registered |
| B. | divisional |
| C. | head |
| D. | none |
| Answer» A. registered | |
| 152. |
The meeting other than statutory and the annual general meeting of the company is………… |
| A. | extra ordinary meeting |
| B. | special meeting |
| C. | board |
| D. | none of these |
| Answer» A. extra ordinary meeting | |
| 153. |
The statutory meeting is required to be held by ………..companies |
| A. | private |
| B. | public |
| C. | both |
| D. | none |
| Answer» B. public | |
| 154. |
……….is the proper authority to call annual general meeting. |
| A. | promoters |
| B. | manager |
| C. | board of directors |
| D. | secretary |
| Answer» C. board of directors | |
| 155. |
Which of the following is the feature of a registered company |
| A. | separate property |
| B. | perpetual succession |
| C. | common seal |
| D. | all of these |
| Answer» D. all of these | |
| 156. |
………. defines the extent of powers of powers of the company. |
| A. | articles of association |
| B. | memorandum of association |
| C. | prospectus |
| D. | information memorandum |
| Answer» B. memorandum of association | |
| 157. |
Table………….. is for memorandum of association of a company limited by shares. |
| A. | b |
| B. | c |
| C. | d |
| D. | e |
| Answer» B. c | |
| 158. |
Table…………..is for memorandum of association of a company limited by guarantee and not having a share capital. |
| A. | b |
| B. | c |
| C. | d |
| D. | e |
| Answer» B. c | |
| 159. |
Table…………..is for memorandum of association of a company limited by guarantee and having a share capital. |
| A. | b |
| B. | c |
| C. | d |
| D. | e |
| Answer» C. d | |
| 160. |
Table…………..is for memorandum of association of an unlimited company |
| A. | b |
| B. | c |
| C. | d |
| D. | e |
| Answer» D. e | |
| 161. |
The procedure to write facts about a resolution and its decision is called…………… |
| A. | explanatory statement |
| B. | statutory report |
| C. | minutes of narration |
| D. | none |
| Answer» C. minutes of narration | |
| 162. |
Which of the following is not true- |
| A. | a meeting of the board of directors must be held at least once in every 3 months. |
| B. | nobody corporate, association or firm can be appointed director of a company. |
| C. | the nominal value of qualification shares should not exceed rs.5000. |
| D. | directors are always liable for any misstatement in a prospectus. |
| Answer» D. directors are always liable for any misstatement in a prospectus. | |
| 163. |
The first directors are usually named in the ………… |
| A. | articles |
| B. | memorandum |
| C. | prospectus |
| D. | none |
| Answer» A. articles | |
| 164. |
……………..may appoint additional directors from time to time if so authorized by articles. |
| A. | manager |
| B. | secretary |
| C. | promoters |
| D. | board of directors |
| Answer» D. board of directors | |
| 165. |
……………..is entitled to the management of the whole or substantially the whole of the affairs of the company. |
| A. | manager |
| B. | secretary |
| C. | promoters |
| D. | board of directors |
| Answer» A. manager | |
| 166. |
……….. liability is imposed on the directors if they manipulate or falsify the accounts of the company. |
| A. | civil |
| B. | criminal |
| C. | statutory |
| D. | none |
| Answer» B. criminal | |
| 167. |
Meeting cannot transact any business unless a……. is present at every stage of the meeting |
| A. | proxy |
| B. | manager |
| C. | quorum |
| D. | secretary |
| Answer» C. quorum | |
| 168. |
The company shall send a duplicate copy of the contents of Register of directors to the registrar within …….of the appointment of the directors. |
| A. | 30 days |
| B. | three months |
| C. | 60 days |
| D. | six months |
| Answer» A. 30 days | |
| 169. |
………….meeting is the first meeting of the members of the public company after its incorporation |
| A. | board |
| B. | annual general |
| C. | departmental |
| D. | statutory |
| Answer» D. statutory | |
| 170. |
A person liable to contribute towards the assets of the company on the event of its being wound up is a ………… |
| A. | liquidator |
| B. | solicitor |
| C. | contributory |
| D. | tribunal |
| Answer» C. contributory | |
| 171. |
On a winding up order being made in respect of a company, the official Liquidator shall, become the ………….. of the company. |
| A. | liquidator |
| B. | solicitor |
| C. | contributory |
| D. | tribunal |
| Answer» A. liquidator | |
| 172. |
When a winding up order has been made by the tribunal but there is no liquidator, the property of the company vests in the ……………….. . |
| A. | liquidator |
| B. | solicitor |
| C. | contributory |
| D. | tribunal |
| Answer» D. tribunal | |
| 173. |
After obtaining of certificate to commence business a company may be wound up if it does not commence business within ………………….. . |
| A. | one month |
| B. | three months |
| C. | six months |
| D. | one year |
| Answer» D. one year | |
| 174. |
A company may be wound up by the Tribunal by passing …………………… Resolution. |
| A. | special |
| B. | extra ordinary |
| C. | ordinary |
| D. | none of these |
| Answer» A. special | |
| 175. |
A company has to submit a statement of affairs to the Official Liquidator within …… days of the appointment of the official liquidator. |
| A. | 10 |
| B. | 14 |
| C. | 21 |
| D. | 30 |
| Answer» B. 14 | |
| 176. |
In a members voluntary winding up the notice of the resolution for winding up shall be filed with the registrar within ………….. days of passing of the resolution. |
| A. | 10 |
| B. | 14 |
| C. | 21 |
| D. | 30 |
| Answer» B. 14 | |
| 177. |
A public company may be wound up by the Tribunal if the number of its members is reduced below ………… |
| A. | 7 |
| B. | 14 |
| C. | 21 |
| D. | 28 |
| Answer» A. 7 | |
| 178. |
An official liquidator is appointed by the ………….. |
| A. | manager |
| B. | a court of competent jurisdiction |
| C. | board of directors |
| D. | central govt. |
| Answer» D. central govt. | |
| 179. |
A voluntary winding up is deemed to commence from the date when the declaration of solvency is made by the …………………. . . |
| A. | manager |
| B. | a court of competent jurisdiction |
| C. | board of directors |
| D. | central govt. |
| Answer» C. board of directors | |
| 180. |
List A of contributories contains …………………. members of the company. |
| A. | existing |
| B. | past |
| C. | future |
| D. | ex-officio |
| Answer» A. existing | |
| 181. |
List B of contributories contains ……………… members of the company. |
| A. | existing |
| B. | past |
| C. | future |
| D. | ex-officio |
| Answer» B. past | |
| 182. |
On dissolution the name of the company is struck off from the …… of the company. |
| A. | schedule |
| B. | charter |
| C. | register |
| D. | none |
| Answer» C. register | |
| 183. |
The Cadbury Committee suggests that the non- executive directors can play a crucial role in |
| A. | meetings |
| B. | management |
| C. | decision-making |
| D. | corporate governance |
| Answer» D. corporate governance | |
| 184. |
SEBI’s code of Corporate Governance provides from the constitution of share holders committee under the chairmanship of ……………….. . |
| A. | board of directors |
| B. | director |
| C. | non executive director |
| D. | manager |
| Answer» C. non executive director | |
| 185. |
Mandatory requirements of the revised clause 49 of the listing agreement, requires that non- executive directors in the Board of Directors are not less than …………….. of the Board of Directors. |
| A. | 25% |
| B. | 36% |
| C. | 50% |
| D. | 75% |
| Answer» C. 50% | |
| 186. |
Which of the following are known as Board Committees |
| A. | audit committee |
| B. | remuneration committee |
| C. | nomination committee |
| D. | all of these. |
| Answer» D. all of these. | |
| 187. |
The company agrees that the remuneration of non- executive directors shall be decided by |
| A. | board of directors |
| B. | director |
| C. | non executive director |
| D. | manager |
| Answer» A. board of directors | |
| 188. |
………….carries out the winding up proceedings. |
| A. | liquidator |
| B. | solicitor |
| C. | contributory |
| D. | tribunal |
| Answer» A. liquidator | |
| 189. |
The order of dissolution can be issued only by the ………… |
| A. | liquidator |
| B. | solicitor |
| C. | contributory |
| D. | tribunal |
| Answer» D. tribunal | |
| 190. |
A company which has not commenced operation or which is not in operation or has no assets to dive is called……….company. |
| A. | public |
| B. | private |
| C. | sick |
| D. | defunct |
| Answer» D. defunct | |
| 191. |
The presiding officer and every other member of a securities appellate tribunal shall hold office for a term of ………. Years from the date on which he enters upon his office. |
| A. | 2 |
| B. | 5 |
| C. | 6 |
| D. | 10 |
| Answer» B. 5 | |
| 192. |
A transfer in which the signature of the transferor is forged is called…………transfer. |
| A. | blank |
| B. | forged |
| C. | mutual |
| D. | none |
| Answer» B. forged | |
| 193. |
…………….transfer whereby the transferor hands over to the buyer the share certicate and a blank transfer deed. |
| A. | blank |
| B. | forged |
| C. | mutual |
| D. | none |
| Answer» A. blank | |
| 194. |
Which of the following is not true- |
| A. | rbi is an example of a statutory company |
| B. | suit can be maintained in the name of a company |
| C. | lic is an example of registered company |
| D. | the persons who form the company are called promoters |
| Answer» C. lic is an example of registered company | |
| 195. |
When a public company has issued prospectus without receiving the minimum subscription it is called…………… |
| A. | splitting of allotment |
| B. | return of allotment |
| C. | renunciation of allotment |
| D. | irregular allotment |
| Answer» D. irregular allotment | |
| 196. |
When a large block of shares has been allotted to a single person, the company may at his request, divide the original allotment letter into a number of small allotment letters. This is called |
| A. | splitting of allotment |
| B. | return of allotment |
| C. | renunciation of allotment |
| D. | irregular allotment |
| Answer» A. splitting of allotment | |
| 197. |
Many public companies provide in their articles for an allottee to give up the right over the shares allotted to him either wholly or partly and transfer the allotment made to him to some other person. This is known as….. |
| A. | splitting of allotment |
| B. | return of allotment |
| C. | renunciation of allotment |
| D. | irregular allotment |
| Answer» C. renunciation of allotment | |
| 198. |
The number and nominal amount of shares allotted must be stated in…… |
| A. | splitting of allotment |
| B. | return of allotment |
| C. | renunciation of allotment |
| D. | irregular allotment |
| Answer» B. return of allotment | |
| 199. |
The return of allotment must be filed with the registrar of companies within………….. of allotment |
| A. | 30 days |
| B. | three months |
| C. | 60 days |
| D. | six months |
| Answer» A. 30 days | |
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