1. How many members should sign the MOA in case of public company?
(a) 1 (b) 5 (c) 3 (d) 7
2. ----------------conceives the idea of the business.
(a) Promoters (b) Auditors (c) Directors (d) Shareholders
3. Shares of company are freely transferable.
(a) Private company (b) Public company (c) Both (a) & (b) (d) None of the above
4. Life Insurance Corporation Ltd. is formed under;
(a) Companies Act, 2018 (b) Special Act of Parliament (c) Both (a) and (b) (d) None of the above
5. Company's corporate personality was brought forward in the case of:
(a) Macaura V. Northern Assurance Co. Ltd. (b) Jons V. Lip ran.
(c) CIT V. Meenakshi Mills Ltd. (d) Salomon V Salomon and Co. Ltd.
6. Which of the following is a non trading association ?
(a) Company (b) Partnership firm (c) Club (d) HUF
7. Promoter is both an agent and trustee of the proposed company.
(a) True (b) False (c) Partly True I (d) Partly False
8. Liability clause in MOA is required by:
(a) Company limited by shares
(b) Company limited by guarantee
(c) Company limited by both shares and guarantee
(d) All of the above
9. Articles of unlimited company having share capital is included in:
(a) Table I (b) Table G (C) Table H (d) Table F
10. Which one of the following is not a main clause of memorandum of association?
(a) Name clause (b) Capital clause (c) Object clause (d) Profit clause
11. --------------is to be executed on a non judicial stamp paper.
(a) Share warrant (b) Power of attorney (b) Incorporation certificate (d) None of the above
12. The word company is derived from ------------word Com Panis".
(a) French (b) Latin (c) German (d) Indian
13. Which of the following are the characteristics of a company?
(a) Corporate Personality (b) Limited Liability
(c) Perpetual Succession (d) All of the above
14. The company has a capacity to sue and be--------
(a) Incorporated (b) Sued (c) Both (a) and (b) (d) None of the above
15. A company may be an
(a) Incorporated company (b) Unincorporated company (c) Both (a) and (b) (d) None of the above
16. A word corporation is derived from latin term “corpus" which means:-
(a) Body (b) Legal Person (c) Artificial Person (d) None of the above
17. The liability of the member of the company is limited to the extent of the of the shares held by them.
(a) Unpaid value (b) Paid value (c) Nominal value (d) All of the above
18. Which of the following statement is correct?
(a) Partners are the agents of the firm but member of company are not its agents
(b) Partner cannot contract with his firm but a member of a company can
(c) Both (a) and (b)
(d) None of these is correct
19. In public company, the members of the company is not less than .
(a) Two (b) Seven (c) Ten (d) Twenty
20. In Private Company, member of the company is not less than
(a Seven (b) Ten (c) Two (d) Eight
21. A company is a on the other hand a club is a
(a) Trading association, non trading association.
(b) Non trading association, trading association.
(c) Trading association, trading association.
(d) None of these.
22. Which of the following are not the advantages of incorporation?
(a) Separate property (b) Unlimited liability
(c) Capacity to sue (d) Flexibility & autonomy
23. Which of the following are not the disadvantage of incorporation?
(a) Formalities and expenses (b) Corporate disclosure
(c) Limited liability (d) Both (a) and (b)
24. Which of the following are kinds of companies?
(a) Private companies (b) Producer companies
(c) Both (a) and (b) (d) None of the above
25. Provisions related to accounts, winding up, calls on shares, forfeiture, etc. are contained in
(a) Articles of Association (b) Memorandum of Association
(c) Prospectus (d) Statement in lieu of prospectus