Business Law Online MCQ Set 13

QN01. In the event of company being wound up the Tribunal shall prepare list of contributories into ______________

  1. List A
  2. List B
  3. List A and B
  4. List A or B
Answer

(C)List A and B

QN02. See ______________ of the companies Act, 1956 states that a company means "a company formed and registered under this Act, or an existing company"

  1. 3(2)(ii)
  2. 3(1)(ii)
  3. 3(3)(i)
  4. 3(1)(i)
Answer

(D)3(1)(i)

QN03. A company is a ______________ person

  1. Distinct person
  2. Group
  3. Legal
  4. Association
Answer

(C)Legal

QN04. ______________ company are those which are incorporated by a Royal Charter.

  1. Chartered
  2. Registered
  3. Statutory
  4. None of these.
Answer

(A)Chartered

QN05. Public company means a company which has a minimum paid up capital of Rs. ______________

  1. 2,00,000
  2. 3,00,000
  3. 5,00,000
  4. 1,00,000
Answer

(C)5,00,000

QN06. The memorandum of Association is a ______________ of the company.

  1. Certificate
  2. Schedule
  3. Document
  4. None of the above
Answer

(C)Document

QN07. Which doctrine protects the out of the outsiders from the company?

  1. The doctrine of Ultra virus
  2. The doctrine of indoor management
  3. Both A and B
  4. None of the above
Answer

(B)The doctrine of indoor management

QN08. A copy special resolution has to be filed with the register within ______________ days

  1. 90 days
  2. 30 days
  3. 60 days
  4. 120 days.
Answer

(B)30 days

QN09. ______________ is the first stage in the formation of a company

  1. Promotion
  2. Raising of Capital
  3. Incorporation
  4. Commencement of business
Answer

(A)Promotion

QN10. ______________ is issued by any financial constitution or bank for on e or more of issues of securities or class of securities specified in the prospectus.

  1. A bridged prospectus
  2. Shelf Prospectus
  3. Deemed Prospectus
  4. Red Herring Prospectus
Answer

(B)Shelf Prospectus

QN11. ______________ is a shorter version of the prospectus and contains all the salient features of a prospectus that forms a part of the memorandum.

  1. Deemed prospectus
  2. A bridged prospectus
  3. Red herring prospectus
  4. Shelf prospectus
Answer

(B)A bridged prospectus

QN12. On which of the following dates the companies Act,1956 come in to force?

  1. 31st March 1956
  2. 1st April 1956
  3. 31st March 1957
  4. 1st April 1957.
Answer

(B)1st April 1956

QN13. ______________ of schedule I of the companies Act, which gives the specimen of memorandum of a company limited by shares

  1. Table B
  2. Table A
  3. Table D
  4. Table E
Answer

(A)Table B

QN14. If at the registration, a company limited by shares does not file articles of association with the registrar, then

  1. The company deemed to have adopted Table A
  2. The company cannot be registered without this document
  3. The company is deemed to have become a company with unlimited liability
  4. None of the above
Answer

(A)The company deemed to have adopted Table A

QN15. ______________ document contains the rules, regulations and bye-laws for the internal management of the company

  1. Memorandum of Association
  2. Article of Association
  3. Prospectus
  4. Statement in lieu.
Answer

(B)Article of Association

QN16. The forms of Memorandum of association are given in tables ______________ in schedule I of the companies Act 1956

  1. B,A&E
  2. B,C,D&E
  3. A,C,D&E
  4. D,A,E.
Answer

(B)B,C,D&E

QN17. Doctrine of constructive notice means ______________

  1. Notice of alternation of object clause to the registrar
  2. Notice to outside dealing with the registrar as to contents of memorandum and articles
  3. Notice of change of name to members
  4. Notice to public as to issue of prospectus.
Answer

(B)Notice to outside dealing with the registrar as to contents of memorandum and articles

QN18. ______________ vacancy is caused by resignation, death, insolvency or insanity

  1. Casual
  2. General
  3. Special
  4. None of the above
Answer

(A)Casual

QN19. The directors may be held ______________ liable on their failure to fulfill the formalities imposed upon them by the Act

  1. General law
  2. Criminal
  3. Civil
  4. All of the above
Answer

(B)Criminal

QN20. ______________ is a group of people who are acting on behalf of the company

  1. Managing Director
  2. Partnership
  3. Board of Directors
  4. All of the above
Answer

(C)Board of Directors

QN21. ______________ director act during the absence of the original director.

  1. First director
  2. Additional director
  3. Alternative director
  4. Representative director
Answer

(C)Alternative director

QN22. For the proper conduct of business in a meeting a ______________ is necessary

  1. Director
  2. Managing director
  3. Chairman
  4. Shareholders
Answer

(C)Chairman

QN23. ______________ is a proposal put before a meeting.

  1. Motion
  2. Resolution
  3. Quorum
  4. Proxy
Answer

(A)Motion

QN24. In case of members voluntary winding up, the liquidation for conducting the winding up proceedings is appointed by ______________.

  1. Central government
  2. Company in its general meeting
  3. Company law board
  4. Register
Answer

(B)Company in its general meeting

QN25. The name of a defunct company can be resorted to register on an application made to the Tribunal by the company, or any member or a creditor within ______________.

  1. 3 years from the dissolution
  2. 6 years from the dissolution
  3. 20 years from the dissolution
  4. 12 years from the dissolution.
Answer

(C)20 years from the dissolution

QN26. Every worker who worked for ______________ days entitled to Annual Wages

  1. 200
  2. 240
  3. 500
  4. 440
Answer

(B)240

QN27. In corporal properties are not ______________

  1. Flexible
  2. Apparent
  3. Corporal
  4. Reachable
Answer

(B)Apparent

QN28. Extra ordinary meeting of the ______________

  1. Member
  2. Share holders
  3. Directors
  4. Both A and B
Answer

(B)Share holders

QN29. The winding up in which a solvency declaration is not made is known as ______________

  1. Creditors voluntary winding up
  2. Members voluntary winding up
  3. Compulsory winding up
  4. None of the above
Answer

(A)Creditors voluntary winding up

QN30. On a winding up order being made, the co9mpany’s property comes under the custody of ______________

  1. Central Government
  2. Tribunal
  3. Share holders
  4. Liquidator
Answer

(D)Liquidator

QN31. The charter of a company is its ______________

  1. Articles of Association
  2. Prospectus
  3. Memorandum of Association
  4. Certificate of incorporation
Answer

(C)Memorandum of Association

QN32. The doctrine of indoor management provides protection to ______________

  1. The outsider
  2. The Board of Directors
  3. The Share holders
  4. The managing directors
Answer

(A)The outsider

QN33. Minutes of company meeting should e prepared with in ______________ of the meeting

  1. 21 days
  2. 30 days
  3. 40 days
  4. 45 days
Answer

(B)30 days

QN34. Official liquidators are appointed from the panel of ______________

  1. Professional firm of Chartered Accountant
  2. Advocate
  3. Company Secretaries
  4. All of the above
Answer

(D)All of the above

QN35. A company is a ______________ of a person who have come together for a common object which generally is to earn profit

  1. Artificial person
  2. Voluntary Association
  3. Incorporate Association
  4. All of these.
Answer

(D)All of these.

QN36. Mean any premises including precincts thereof

  1. Industry
  2. Factory
  3. Company
  4. Workmen
Answer

(B)Factory

QN37. Companies limited by ______________ are not formed for the purpose of profit but for the promotion of art, science, culture, charity, sports, commerce etc.

  1. Members
  2. Shares
  3. Liability
  4. Guarantee
Answer

(D)Guarantee

QN38. During which of the following circumstances can the veil be lifted by the court?

  1. Where the Co acts as an agent
  2. Where a fund is noticed
  3. When the company tries to avoid certain legal obligation
  4. All of the above.
Answer

(D)All of the above.

QN39. The ______________ issues the certificate of incorporation

  1. Register
  2. Director
  3. Court
  4. All of the above
Answer

(A)Register

QN40. Sec. ______________ of the companies Act deals with the meaning and provisions related to the shelf prospectus.

  1. 50
  2. 4(1)
  3. 2(2)
  4. 60
Answer

(D)60

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