Which among the following is regarded as the most important document of a company?
A. Annual Report
B. Prospectus
C. Articles of Association
D. Memorandum of Association
Select an option to see the answer and solution.
When there is no profit in one year or the profit of a company is not enough to pay the fixed dividend on preference shares, the arrears of dividend are to be carried forward and paid before a dividend is paid on the ordinary shares. This is called:
A. Participating preference shares
B. Cumulative preference shares
C. Non-cumulative preference shares
D. Non-Participating preference shares
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Under the Companies Act every person subscribing to the Memorandum of a company must take at least
A. 100 shares
B. 20 shares
C. 10 shares
D. 1 share
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What do you mean by pursuit?
A. Authorising the destruction of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society
B. Authorising the dissolution of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society
C. Authorising the formation of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society
D. Authorising the reconstruction of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society
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A public company can borrow money
A. After one year of incorporation
B. After obtaining certificate of commencement of business
C. Before incorporation
D. Soon after incorporation
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A Director appointed to fill up casual vacancy will hold office
A. For a term of 5 years
B. For a term of 3 years
C. Up to next meeting of the Board
D. Up to date of expiry of term of office of outgoing Director
Select an option to see the answer and solution.
On incorporation of a company, the Registrar of Companies, in addition to the Certificate of Incorporation, issues a unique identification number, namely . . . . . . . .
A. Unique corporate number
B. Corporate identification number
C. Company identification number
D. Unique identification number
Select an option to see the answer and solution.
A Private company can commence business as soon as it receives
A. Certification of incorporation
B. Letter of intent
C. Occupation certificate
D. None of the above
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Articles of Association are not to be registered in case of
A. A public company limited by share
B. A company limited by guarantees
C. An unlimited company
D. A private company limited by share
Select an option to see the answer and solution.
Memorandum of a company under the Company Law is like a
A. Directory
B. Constitution
C. Schedule
D. None of the above
Select an option to see the answer and solution.
Article of Association is a concept in
A. Partnership Act
B. Negotiable Instruments Act
C. Companies Act
D. Indian Penal Code
Select an option to see the answer and solution.
Contracts made after incorporation of a public company, but before issuing the certificate of commencement of business are . . . .
A. Provisional contracts
B. Post-incorporation contracts
C. Preliminary contracts
D. Contracts in the normal course of business
Select an option to see the answer and solution.
Find answer by using given below:
Director may be removed by
(a) Other Directors
(b) Creditors
(c) Central Government
(d) Shareholders in a general meeting
A. Only (1) and (2) are correct
B. Only (2) and (3) are correct
C. Only (3) and (4) are correct
D. Only (4) and (1) are correct
Select an option to see the answer and solution.
Which of the following activities cannot be considered as relating to social responsibility under Section 135 of the Companies Act, 2013?
A. Amount spent on activities which only benefit the employees of the company
B. Amount spent to benefit people who are not economically backward
C. Amount spent on activities which only benefit the consumers of the organisation
D. Amount spent on activities which only benefit the suppliers of the organisation
E. All of the above
Select an option to see the answer and solution.
Minimum number of members required to apply for incorporation Certificate in a Public Ltd. Company is:
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Which of the following Companies will have to constitute Corporate Social Responsibility Committee under the Companies Act, 2013
A. A company having a net profit of 2.5 crores in a financial year, a net worth of 300 crores and a turnover of rupees 800 crore
B. A company having a net profit of 3 crores, in a financial year, a net worth of 300 crores and a turnover of rupees 600 crore
C. A company having a net profit of 5 crore or more, a net worth of 500 crores and a turnover of rupees 1000 crore or more
D. A company having a net profit of 5 crores or more, a net worth of 500 crores and a turnover of rupees 5000 crore or more
Select an option to see the answer and solution.
A company having paid-up share capital of rupees ten lakhs or more is required to submit a certificate to the Registrar of Companies. This certificate is called Compliance Certificate. By whom this certificate is issued?
A. Chartered Accountant
B. Company Secretary
C. Chartered Accountant and Company Secretary both
D. Registrar of Companies
Select an option to see the answer and solution.
In the conflict between equity on one hand and the text of law on the other, the court shall
A. Choose equity
B. Choose law
C. Have the discretions to choose between equity and law
D. Be bound by precedents
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Which among the following authorities is vested with the power to investigate on matters of professional misconduct committed by a Chartered Accountant or a Chartered Accountant's Firm under Section 132 of the Companies Act, 2013?
A. National Advisory Committee on Accounting Standards
B. Institute of Chartered Accountants of India
C. The Serious Fraud Investigation Office
D. National Financial Reporting Authority
Select an option to see the answer and solution.
Which of the following statement is correct? Answer using given below:
(1) Doctrine of indoor management apply in case of knowledge of irregularity in company.
(2) Doctrine of indoor management does not apply in case of suspicion of irregularity.
(3) Doctrine of indoor management apply in case of forgery.
(4) Doctrine of indoor management does not apply if the act of an officer of a company is one which would ordinarily be beyond the powers of such an officer.
A. Only (1) is correct
B. Only (2) is correct
C. Only (3) is correct
D. Only (4) is correct
Select an option to see the answer and solution.