Which of these must hold a Statutory Meeting ? (A) Public Limited Company (B) Private Company (C) Unlimited Company (D) All of these

Which of these must hold a Statutory Meeting ? (A) Public Limited Company (B) Private Company (C) Unlimited Company (D) All of these  
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Answer: Public Limited Company
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Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ? (A) Public Company limited by shares (B) Unlimited companies (C) Private companies limited by shares (D) Companies limited by guarantee

Description : Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ? (A) Public Company limited by shares (B) Unlimited companies (C) Private companies limited by shares (D) Companies limited by guarantee

Last Answer : Answer: Public Company limited by shares

A company limited by shares has to call the statutory meeting within a period of not less than one month and not more than six months. This period is counted with reference to which one of the following ? (A) The date of incorporation (B) The date at which the company is entitled to commence business (C) The date of actual receipt of certificate of incorporation (D) The date of actual commencement of business

Description : A company limited by shares has to call the statutory meeting within a period of not less than one month and not more than six months. This period is counted with reference to which one of ... date of actual receipt of certificate of incorporation (D) The date of actual commencement of business

Last Answer : Answer: The date at which the company is entitled to commence business

A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting

Description : A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting

Last Answer : Answer: Statutory Meeting

The first auditor of a company appointed, holds office– (A) For a period of one year (B) For that period till new auditor is appointed (C) Till the conclusion of first Annual General Meeting (D) Till the holding of statutory meeting of the company

Description : The first auditor of a company appointed, holds office– (A) For a period of one year (B) For that period till new auditor is appointed (C) Till the conclusion of first Annual General Meeting (D) Till the holding of statutory meeting of the company

Last Answer : Answer: Till the conclusion of first Annual General Meeting

What is the quorum of general meetings in the case of private limited company and public limited company ? (A) 2 members and 5 members respectively (B) 3 members and 5 members respectively (C) 5 members in each type of company (D) 5 members and 7 members respectively

Description : What is the quorum of general meetings in the case of private limited company and public limited company ? (A) 2 members and 5 members respectively (B) 3 members and 5 members respectively (C) 5 members in each type of company (D) 5 members and 7 members respectively

Last Answer : Answer: 2 members and 5 members respectively

Reserve bank of India is a/an _______. A. statutory corporation. B. company limited by guarantee. C. company limited by shares. D. unlimited company.

Description : Reserve bank of India is a/an _______. A. statutory corporation. B. company limited by guarantee. C. company limited by shares. D. unlimited company.

Last Answer : A. statutory corporation.

SHCIL was established in 1986 under the Government of India as __________ A. Private Ltd B. Public Ltd C. Limited Liability Partnership D. Unlimited company E. None of the Above

Description : SHCIL was established in 1986 under the Government of India as __________ A. Private Ltd B. Public Ltd C. Limited Liability Partnership D. Unlimited company E. None of the Above

Last Answer : B. Public Ltd Explanation: Stock Holding Corporation of India Limited(SHCIL) was established in 1986 under the Government of India as public limited company.

Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Description : Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Last Answer : Answer: Both contractual and statutory

Reserve Bank of India is a– (A) Government Company (B) Departmental Organisation (C) Statutory Corporation (D) None of the above

Description : Reserve Bank of India is a– (A) Government Company (B) Departmental Organisation (C) Statutory Corporation (D) None of the above

Last Answer : Answer: Government Company

Which one of the following statements is correct ? (A) Internal audit and Management audit are the same (B) Internal audit and statutory audit are the same (C) Internal audit is compulsory in all cases (D) Statutory audit of company accounts is compulsory

Description : Which one of the following statements is correct ? (A) Internal audit and Management audit are the same (B) Internal audit and statutory audit are the same (C) Internal audit is compulsory in all cases (D) Statutory audit of company accounts is compulsory

Last Answer : Answer: Statutory audit of company accounts is compulsory

Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Description : Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Last Answer : Answer: Deferred shares

In a public limited company, the minimum number of directors are– (A) 2 (B) 3 (C) 5 (D) None of the above

Description : In a public limited company, the minimum number of directors are– (A) 2 (B) 3 (C) 5 (D) None of the above

Last Answer : Answer: 3

The liability of the shareholders of a public limited company is limited to the extent of– (A) Par value of the share (B) Paid up value of the shares (C) Market price of the shares (D) Intrinsic value of the shares

Description : The liability of the shareholders of a public limited company is limited to the extent of– (A) Par value of the share (B) Paid up value of the shares (C) Market price of the shares (D) Intrinsic value of the shares

Last Answer : Answer: Paid up value of the shares

Disinvestment of shares means– (A) To sale the shares of private company to public (B) To sale the shares of public company to the public (C) To sale the shares of Government company to the public (D) To sale of shares by holding company to its subsidiary company

Description : Disinvestment of shares means– (A) To sale the shares of private company to public (B) To sale the shares of public company to the public (C) To sale the shares of Government company to the public (D) To sale of shares by holding company to its subsidiary company

Last Answer : Answer: To sale the shares of public company to the public

Minutes of the annual general meeting must be prepared and signed by the chairman within– (A) 14 days of the meeting (B) 21 days of the meeting (C) 30 days of the meeting (D) 45 days of the meeting

Description : Minutes of the annual general meeting must be prepared and signed by the chairman within– (A) 14 days of the meeting (B) 21 days of the meeting (C) 30 days of the meeting (D) 45 days of the meeting

Last Answer : Answer: 30 days of the meeting

For calling the Extraordinary General Meeting a clear notice of ……… days must be given to all the members. (A) 7 (B) 15 (C) 21 (D) 30

Description : For calling the Extraordinary General Meeting a clear notice of ……… days must be given to all the members. (A) 7 (B) 15 (C) 21 (D) 30

Last Answer : Answer: 21

The Meeting of Board of Directors must be called at least once– (A) In four months (B) In three months (C) In two months (D) In one month

Description : The Meeting of Board of Directors must be called at least once– (A) In four months (B) In three months (C) In two months (D) In one month

Last Answer : Answer: In three months

Internal Auditor is appointed by the– (A) Management (B) Shareholders (C) Government (D) Statutory Auditor

Description : Internal Auditor is appointed by the– (A) Management (B) Shareholders (C) Government (D) Statutory Auditor

Last Answer : Answer: Management

An annual general meeting may be called after giving shorter notice instead of 21 clear days, if consent is accorded by– (A) All the directors of company (B) All the members entitled to vote there at (C) Majority of members entitled to vote there all (D) None of the above

Description : An annual general meeting may be called after giving shorter notice instead of 21 clear days, if consent is accorded by– (A) All the directors of company (B) All the members entitled to vote there at (C) Majority of members entitled to vote there all (D) None of the above

Last Answer : Answer: All the members entitled to vote there at

The Secretary of a Company should file copies of Special Resolution passed at Extraordinary General Meeting to the Registrar of Companies within– (A) 7 days (B) 14 days (C) 21 days (D) 30 days

Description : The Secretary of a Company should file copies of Special Resolution passed at Extraordinary General Meeting to the Registrar of Companies within– (A) 7 days (B) 14 days (C) 21 days (D) 30 days

Last Answer : Answer: 30 days

The object of ‘Agenda’ is to inform– (A) About the profitability and activity (B) About the progress of company (C) About the matter in sequence to be discussed in the meeting (D) About the routine matters

Description : The object of ‘Agenda’ is to inform– (A) About the profitability and activity (B) About the progress of company (C) About the matter in sequence to be discussed in the meeting (D) About the routine matters

Last Answer : Answer: About the matter in sequence to be discussed in the meeting

A vacancy caused by the resignation of the auditor is filled only by the– (A) Board of Directors of the Company (B) Central Government (C) General Meeting of the shareholders (D) Managing Director of the company

Description : A vacancy caused by the resignation of the auditor is filled only by the– (A) Board of Directors of the Company (B) Central Government (C) General Meeting of the shareholders (D) Managing Director of the company

Last Answer : Answer: General Meeting of the shareholders

A special resolution is passed in a company meeting by– (A) Simple majority (B) 2/3 majority (C) 3/4 majority (D) None of the above

Description : A special resolution is passed in a company meeting by– (A) Simple majority (B) 2/3 majority (C) 3/4 majority (D) None of the above

Last Answer : Answer: 3/4 majority

The capital issues of public limited companies are subject to guidelines issued by– (A) Reserve Bank of India (B) Central Government (C) Central Bank of India (D) Securities & Exchange Board of India (SEBI)

Description : The capital issues of public limited companies are subject to guidelines issued by– (A) Reserve Bank of India (B) Central Government (C) Central Bank of India (D) Securities & Exchange Board of India (SEBI)

Last Answer : Answer: Securities amp; Exchange Board of India (SEBI)

Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, 10% debentures of Rs. 100 each at par and 15,000 equity shares of Rs. 10 each. How much was the flow of funds in the above transaction ? (A) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Description : Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, ... ) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Last Answer : Answer: Rs. 30,000

A limited company makes a net profit of Rs. 2,00,000 after writing off preliminary expenses amounting to Rs. 20,000 and providing for depreciation on assets amounting to Rs. 40,000 and gain of Rs. 10,000 on sale of a piece of machinery. What are the funds from operation ? (A) Rs. 2,00,000 (B) Rs. 2,40,000 (C) Rs. 2,50,000 (D) Rs. 2,60,000

Description : A limited company makes a net profit of Rs. 2,00,000 after writing off preliminary expenses amounting to Rs. 20,000 and providing for depreciation on assets amounting to Rs. 40,000 and gain of Rs. 10,000 on sale of a piece of ... 2,00,000 (B) Rs. 2,40,000 (C) Rs. 2,50,000 (D) Rs. 2,60,000

Last Answer : Answer: Rs. 2,50,000

Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis of accounting only (B) Financial statements should be prepared according to the accrual basis of accounting only (C) Financial statements should be prepared according to either the cash basis or accrual basis of accounting (D) Financial statements should be prepared according to both the accrual and cash basis of accounting

Description : Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis ... Financial statements should be prepared according to both the accrual and cash basis of accounting

Last Answer : Answer: Financial statements should be prepared according to the accrual basis of accounting only

‘Profit objective’ is of least priority in case of– (A) Private enterprise (B) Public enterprise (C) Department undertaking (D) Cooperative society

Description : ‘Profit objective’ is of least priority in case of– (A) Private enterprise (B) Public enterprise (C) Department undertaking (D) Cooperative society

Last Answer : Answer: Cooperative society

Maximum number of members in public limited company is ---------------. A. 10 B. 20 C. 50 D. unlimited

Description : Maximum number of members in public limited company is ---------------. A. 10 B. 20 C. 50 D. unlimited

Last Answer : D. unlimited

The minimum and maximum number of members in a Private Company is– (A) 2 and 50 (B) 2 and 20 (C) 2 and 10 (D) None of the above

Description : The minimum and maximum number of members in a Private Company is– (A) 2 and 50 (B) 2 and 20 (C) 2 and 10 (D) None of the above

Last Answer : Answer: 2 and 50

In a Private Company there are restrictions regarding– (A) Transfer of shares (B) Issue of prospectus (C) Number of members (D) All of the above

Description : In a Private Company there are restrictions regarding– (A) Transfer of shares (B) Issue of prospectus (C) Number of members (D) All of the above

Last Answer : Answer: All of the above

What is the quorum of General Meetings in the case of a Private Company ? (A) 2 members (B) 3 members (C) 4 members (D) 5 members

Description : What is the quorum of General Meetings in the case of a Private Company ? (A) 2 members (B) 3 members (C) 4 members (D) 5 members

Last Answer : Answer: 2 members

Job Evaluation is carried on mainly for– (A) identifying geographical locational factors of business enterprise (B) promoting job satisfaction (C) simplifying wage administration (D) meeting competition effectively

Description : Job Evaluation is carried on mainly for– (A) identifying geographical locational factors of business enterprise (B) promoting job satisfaction (C) simplifying wage administration (D) meeting competition effectively

Last Answer : Answer: simplifying wage administration

Articles of Association can be altered by passing– (A) An ordinary resolution in Annual General Meeting (B) A special resolution in Annual General Meeting (C) A resolution with special notice (D) Without any resolution

Description : Articles of Association can be altered by passing– (A) An ordinary resolution in Annual General Meeting (B) A special resolution in Annual General Meeting (C) A resolution with special notice (D) Without any resolution

Last Answer : Answer: A special resolution in Annual General Meeting

Statement containing details of items to be considered in a meeting is called– (A) Agenda (B) Minutes (C) Resolution (D) Notice

Description : Statement containing details of items to be considered in a meeting is called– (A) Agenda (B) Minutes (C) Resolution (D) Notice

Last Answer : Answer: Agenda

Share premium account can be used for– (A) Paying tax liability (B) Meeting the cost of issue of shares or debentures (C) Paying Dividend on shares (D) Meeting the loss on sale of old asset

Description : Share premium account can be used for– (A) Paying tax liability (B) Meeting the cost of issue of shares or debentures (C) Paying Dividend on shares (D) Meeting the loss on sale of old asset

Last Answer : Answer: Meeting the cost of issue of shares or debentures

Under Section 275 of the Companies’ Act, 1956 a person can become director in public company of not more than– (A) 5 companies (B) 10 companies (C) 15 companies (D) 20 companies

Description : Under Section 275 of the Companies’ Act, 1956 a person can become director in public company of not more than– (A) 5 companies (B) 10 companies (C) 15 companies (D) 20 companies

Last Answer : Answer: 15 companies

A public company can start its business operations after getting– (A) Certificate of Incorporation (B) Minimum Subscription (C) Certificate of Commencement of Business (D) Permission of the Controller of Capital Issue

Description : A public company can start its business operations after getting– (A) Certificate of Incorporation (B) Minimum Subscription (C) Certificate of Commencement of Business (D) Permission of the Controller of Capital Issue

Last Answer : Answer: Certificate of Commencement of Business

A public company can start business– (A) After incorporation (B) After promotion (C) After registration (D) After getting certificate of commencement of business

Description : A public company can start business– (A) After incorporation (B) After promotion (C) After registration (D) After getting certificate of commencement of business

Last Answer : Answer: After getting certificate of commencement of business

What is the minimum number of members in a public company?

Description : What is the minimum number of members in a public company?

Last Answer : Seven

What is the minimum number of directors in a Public Company?

Description : What is the minimum number of directors in a Public Company?

Last Answer : Atleast two directors

X Limited forfeited Ram’s 20 shares of Rs. 10 each on which Rs. 7 is called up. Ram had paid application and allotment money of Rs. 5 per share. Of these forfeited shares 15 shares were reissued to Hari as fully paid up for Rs. 6 per share. What amount should be transferred to Capital Reserve account ? (A) Rs. 15 (B) Rs. 20 (C) Rs. 75 (D) Rs. 100

Description : X Limited forfeited Ram's 20 shares of Rs. 10 each on which Rs. 7 is called up. Ram had paid application and allotment money of Rs. 5 per share. Of these forfeited shares 15 shares were reissued to Hari as fully paid up ... to Capital Reserve account ? (A) Rs. 15 (B) Rs. 20 (C) Rs. 75 (D) Rs. 100

Last Answer : Answer: Rs. 15

Departmental undertakings, statutory corporations and government companies comes under the category of a. Public Private Partnership b. Private Sector Enterprises b. Incorporated Enterprises d. Public or State Enterprises

Description : Departmental undertakings, statutory corporations and government companies comes under the category of a. Public Private Partnership b. Private Sector Enterprises b. Incorporated Enterprises d. Public or State Enterprises

Last Answer : d. Public or State Enterprises

Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To make Primary Dealer System an effective conduct of open market operations (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure

Description : Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To ... (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure

Last Answer : Answer: To strengthen the private equity infrastructure

In India private sector entered into the Life Insurance business in the year– (A) 1995 (B) 1998 (C) 2000 (D) 2001

Description : In India private sector entered into the Life Insurance business in the year– (A) 1995 (B) 1998 (C) 2000 (D) 2001

Last Answer : Answer: 2000

The liability of members if company is limited by shares A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Description : The liability of members if company is limited by shares A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Last Answer : B. Guarantee amount

The liability of members if company is limited by guarantee. A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Description : The liability of members if company is limited by guarantee. A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Last Answer : A. Unpaid value of shares

Which of the following is true for variable names in Python? a) unlimited length b) all private members must have leading and trailing underscores c) underscore and ampersand are the only two special characters allowed d) none of the mentioned

Description : Which of the following is true for variable names in Python? a) unlimited length b) all private members must have leading and trailing underscores c) underscore and ampersand are the only two special characters allowed d) none of the mentioned

Last Answer : Answer: a Explanation: Variable names can be of any length.

Which of the following statements best describes review services? a. Review engagements focus on providing assurance on the internal controls of a public company. b. Review engagements focus on providing assurance on the assertions contained in the financial statements of a public company. c. Review engagements focus on providing advice in a three-party contract. d. Review engagements focus on providing limited assurance on financial statements of a private company

Description : Which of the following statements best describes review services? a. Review engagements focus on providing assurance on the internal controls of a public company. b. Review engagements focus ... d. Review engagements focus on providing limited assurance on financial statements of a private company

Last Answer : Review engagements focus on providing limited assurance on financial statements of a private company