Question

1. Property of the company belongs to:

a. Company b. Share holders c. Members d. Promoters.


2. Which company’s shares are freely transferable?

a. Private Company b. Public Company c. Both (a) & (b) d. None of the above.


3. Minimum number of members in case of public company:

a.1 b. 2 c. 5 d. 7.


4. Minimum subscription should be received within ______ days.

a. 130 b.125 c.120 d.135.


5. Liability of a member in case of a private company is:

a. Limited b. Unlimited c. Both (a) or (b) d. None of the above.


6. Table ________ is for memorandum of association of an unlimited company.

a. B b. C c. D d. E.


7. The first directors are usually named in the ___________.

a. articles b. memorandum c. prospectus d. none.


8. A company is called an artificial person because:

a. It does not have the shape of a normal man b. It cannot be used in the court of law

c. It is invisible and intangible d. It exists only in contemplation of law.


9. A registered company is the company which is incorporated:

a. Under the companies Act, 1956 b. By a special notification of the Central Government.

c. Under the Indian Registration Act d. By a special act of Parliament or State.


10. Article of Association can be altered by:

a. A resolution of Board of Directors

b. An ordinary resolution in Annual General Meeting by the shareholders

c. A special Resolution

d. Obtaining permission of the Company Law Tribunal.​

Answer 1

Answer:

1 .. (a)

2.. (d)

3... (5)

4...(130)

5..(Limited)

6...(c)

7...(none)

8... (b)

9...(b)

10.. (b)

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Answer 2

1. Property of the company belongs to Company.

a. Company

2. Public Company shares are freely transferable.

b. Public Company

3. Minimum number of members in the case of a public company is 7

d. 7

4. Minimum subscription should be received 120 within days.

c. 120

5. Liability of a member in case of a private company is Limited or Unlimited.

c. Both (a) or (b)

6. Table E is for the memorandum of association of an unlimited company.

d. E

7. The first directors are usually named in the articles.

a. articles

8. A company is called an artificial person because it exists only in contemplation of law.

d. It exists only in contemplation of law

9. A registered company is a company that is incorporated under the Companies Act, 1956

a. Under the Companies Act, 1956

10. Article of Association can be altered by a Special Resolution.

c. A Special Resolution