Business Law Online MCQ Set 15

QN01. A person cannot hold directorship of more than ______________ companies at a time

  1. 15
  2. 50
  3. 25
  4. 10
Answer

(A)15

QN02. Minimum number of directors in private company is ______________

  1. 3
  2. 2
  3. 4
  4. 1
Answer

(B)2

QN03. The appointment of every director is to be made by an ______________ at the general meeting

  1. Ordinary resolution
  2. Special resolution
  3. Single resolution
  4. None of the above
Answer

(A)Ordinary resolution

QN04. Statutory meeting held within a period of ______________

  1. 90 days from the date at which the company is entitled to start its business
  2. 6 months from the date of incorporation
  3. Not less one month & not more than 6 month which the company is entitled to start its business
  4. 18 months from the date of incorporation
Answer

(C)Not less one month & not more than 6 month which the company is entitled to start its business

QN05. ______________ means the list of business or thing to be done at the meeting

  1. Quorum
  2. Register
  3. Minutes
  4. Agenda
Answer

(D)Agenda

QN06. Special resolution is passed by majority ______________ of the members voting by show of hands or on poll either in person or by proxy.

  1. 1/3
  2. ½
  3. 3
  4. ¾
Answer

(D)¾

QN07. A past member can also be placed on the list of contributories of he has ceased to be a member within ______________

  1. 3 years before the commencement of the winding up
  2. 2 years before the commencement of the winding up
  3. 18 months before the commencement of the winding up
  4. 12 months before the commencement of the winding up
Answer

(D)12 months before the commencement of the winding up

QN08. A person who completed 15th year and below 18 year

  1. Audit
  2. Adolescent
  3. Minor
  4. Young person
Answer

(B)Adolescent

QN09. Corporal property is ______________

  1. Equable
  2. Visible
  3. Tangible
  4. Flexible
Answer

(C)Tangible

QN10. The board shall meet at least four time a year, with a maximum times gap of ______________ between any two meetings

  1. 6 months
  2. 3 months
  3. 2 months
  4. 4 months
Answer

(B)3 months

QN11. East India Company is an example of ______________ company

  1. Chartered
  2. Statutory
  3. Registered
  4. Foreign.
Answer

(A)Chartered

QN12. A unique feature of trade mark is its ______________

  1. Corporality
  2. Perpetual life
  3. Degeneration
  4. Industrialism
Answer

(B)Perpetual life

QN13. The most clause in the memorandum of Association of a company is ______________

  1. Name clause
  2. Objects clause
  3. Registered Office Clause.
  4. Liability clause
Answer

(B)Objects clause

QN14. The statement in lieu of prospectus must be filed with the Registrar at least ______________ days before any allotment of shares is made.

  1. 15
  2. 30
  3. 6
  4. 3
Answer

(D)3

QN15. The exception to the doctrine of constructive notice is provided in ______________

  1. Lifting the corporate veil
  2. Doctrine of indoor management
  3. Doctrine of ultra virus
  4. None of these
Answer

(B)Doctrine of indoor management

QN16. A company is the creation of ______________

  1. Common seal
  2. Law
  3. Share capital
  4. Members
Answer

(B)Law

QN17. Minimum ______________ persons to constitute a public limited company.

  1. 7
  2. 10
  3. 2
  4. 5
Answer

(A)7

QN18. Statutory companies are those incorporated under a special act passed by ______________

  1. Companies Act
  2. Parliament
  3. Special resolution
  4. Law
Answer

(B)Parliament

QN19. Shares can be freely transferable in ______________

  1. Public company
  2. Private company
  3. Registered company
  4. Government company
Answer

(A)Public company

QN20. If the Articles of a company conflict with the memorandum.

  1. The articles shall prevail
  2. The memorandum shall prevail
  3. The directors will resolve the conflict
  4. The court will resolve the conflict.
Answer

(B)The memorandum shall prevail

QN21. Which Doctrine seeks to promote the company from the outsiders?

  1. The doctrine of indoor management
  2. The doctrine of Ultra virus
  3. The doctrine of constructive notice
  4. None of these.
Answer

(C)The doctrine of constructive notice

QN22. Sec.25 related to ______________ companies

  1. Holding
  2. Licensed
  3. Subsidiary
  4. Existing
Answer

(B)Licensed

QN23. When one company controls the management of another company, the format is called a ______________ company

  1. Existing
  2. Holding
  3. Subsidiary
  4. Licensed
Answer

(C)Subsidiary

QN24. A Public company May issue a prospectus called ______________

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

(A)Red herring Prospectus

QN25. ______________ is a person who holds the shares for the benefit persons

  1. Trustee
  2. Member
  3. Shareholder
  4. Company
Answer

(A)Trustee

QN26. The history of the Indian Company Law began in the year of

  1. 1850
  2. 1908
  3. 1913
  4. 1956
Answer

(A)1850

QN27. ______________ is compulsory for unlimited companies, private companies limited by guarantee.

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

(B)Articles of Association

QN28. The annual return should be filed by a company with the Registrar within the date of the annual general meeting of the company.

  1. 40
  2. 60
  3. 30
  4. 50
Answer

(B)60

QN29. ______________ lays down the modes in which the objects of the company are to be carried out by the members.

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

(D)Articles of association

QN30. Articles of Association are not required to be registered in case of ______________

  1. An unlimited Company
  2. A company limited by guarantee
  3. A public company limited by shares.
  4. A private company limited by shares.
Answer

(C)A public company limited by shares.

QN31. The maximum remuneration paid to a manager cannot exceed ______________ percent of the annual net profit

  1. 10%
  2. 5%
  3. 15%
  4. 25%
Answer

(B)5%

QN32. ______________ is the executive authority of the company

  1. Partners
  2. Shareholders
  3. Board of Directors
  4. Expert
Answer

(C)Board of Directors

QN33. A managing Director can be appointed for a maximum period of ______________

  1. 2 years
  2. 10 years
  3. 3 years
  4. 5 years
Answer

(D)5 years

QN34. ______________ is the official records of the meeting of the company

  1. Quorum
  2. Register
  3. Report
  4. Minute
Answer

(D)Minute

QN35. ______________ is the resolution which is passed at validly called general meeting, by simple majority of the members.

  1. Special resolution
  2. Resolution by postal ballot
  3. Ordinary resolution
  4. Resolution requiring special notice.
Answer

(C)Ordinary resolution

QN36. The company is dissolved when the tribunal passes in order of dissolution and the Tribunal shelf pass such order ______________.

  1. When the affairs of the company have been completely wound up
  2. Immediately after the winding up order
  3. At the instance of Central government
  4. At the distance of company law Board.
Answer

(A)When the affairs of the company have been completely wound up

QN37. In members voluntary winding up control of winding up in the hands of the ______________

  1. Creditors
  2. Members
  3. Company
  4. Directors
Answer

(C)Company

QN38. Corporal refer to ______________

  1. Possession
  2. Ownership
  3. Building
  4. Computer
Answer

(B)Ownership

QN39. The time gap between two Annual Meeting should not exceed ______________

  1. 6 months
  2. 12 months
  3. 8 months
  4. 15 months.
Answer

(D)15 months.

QN40. For meeting may be adjourned by ______________ circumstances

  1. Quorum is not present
  2. Lack of information
  3. Balance sheet is not present
  4. None of the above
Answer

(B)Lack of information

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