Company Law Paper of the CS Executive Programme:
Ques. The date of the opening of the subscription list means the beginning of the_____ from the day of the issue of prospectus.
(a) 5 th
(b) 3 rd
(c) 10 th
(d) 20 th
Ques. Pre-incorporation contract is also known as __
(a) Provisional
(b) Preliminary
(c) illegal
(d) legal
Ques. The minimum application money should be _____ of nominal value.
(a) 5%
(b) 3%
(c) 2%
Ques. Private Company need not issue prospectus
(a) Yes
(b) No
Ques. If the employer is a Banking company. Deduction will be allowed under 3 rd schedule is while determining available surplus __ of reserves shown in its B/S at the commencement of the accounting year
(a) 5%
(b) 6%
(c) 7%
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Ques. Prospectus is required to be issued when right issue are made
(a) Yes
(b) No
Ques. ___ report is send by the directors to its members.
(a) Statutory
(b) Audit
(c) Annual
Ques. Prospectus is required to be issued when issue is for Employees under Employee stock option scheme
(a) Yes
(b) No
Ques. A poll can be demanded by any member present in person or by proxy if he has voting powers at least equal to:
(a) 1/5 th
(b) 1/10 th
(c) 1/20 th
(d) 1/30 th
Ques. ____ includes an engineer, valuationer, accountant
(a) Promoter
(b) Auditor
(c) Director
(d) Expert
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Ques. OMPL Gas Company shares are totally held by government. The company will be government.
(a) True
(b) False
Ques. Advance received against orders for the supply of goods or selling of properties will be treated as deposits.
(a) Yes
(b) No
Ques. ____ prospectus were issued in order to test the market before finalizing issue size/ price.
(a) Deemed
(b) Shelf
(c) Red herring
(d) None of the above
Ques. In the case of partnership firm. Audit is
(a) Compulsory
(b) Optional
Ques. Consideration shall be paid if share holder surrender his shares
(a) Yes
(b) No
Ques. Because of Misrepresentation in prospectus an expert will be criminally liable.
(a) Yes
(b) No
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Ques. A special resolution is passed with
(a) Simple majority
(b) 60% majority of members present
(c) 75% majority of members present
Ques. Set on can be done for next ________ accounting years
(a) 5
(b) 6
(c) 4
(d) None of these
Ques. Calls in advance have voting rights
(a) Yes
(b) No
Ques. When a private company is converted into public company. In which form it should be?
(a) Schedule III
(b) Schedule IV
(c) Schedule VI
(d) None of these
Ques. Amount received by a company from another company will not be treated as deposit.
(a) Yes
(b) No
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Ques. Every Company who want to go for public issue and allot shares, they should make an applicant to stock exchange
(a) Yes
(b) No
Ques. If the employer is a corporation deduction will be allowed under 3 rd schedule is while determining available surplus ____ % of its paid up capital as at the commencement of the accounting year
(a) 8.5%
(b) 7.5%
(c) 6%
Ques. Public deposit matures and claimed but remains unpaid, penal interest will be in case of small deposits
(a) 16%
(b) 18%
(c) 20%
(d) None of these
Ques. __ specifies the time limit with in which share certificate is to be delivered
(a) sec 110
(b) sec 111
(c) sec 112
(d) sec 113
Ques. _____ includes any amount borrowed by a company.
(a) Deposits
(b) Funds
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Ques. In case of adjourned meeting is it necessary to wait for the quorum
(a) Yes
(b) No
Ques. What is the ceiling imposed by the government on company on any deposits?
(a) 10
(b) 25
(c) 35
(d) 5
Ques. Audit of a public company will be counted for the limit of audits
(a) Yes
(b) No
Ques. Failure to comply with the order of NCLT is punishable with an imprisonment upto ___ years.
(a) 1
(b) 2
(c) 3
(d) 4
Ques. If quorum is not present with in____ time the meeting is stand dissolved.
(a) ½ Hr
(b) 1 Hr
(c) 1 ½ Hr
(d) 2 Hr
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Ques. Alan Private Limited company provided in articles that quorum for the company should be 7 member is the company correct
(a) Correct
(b) Not correct
Ques. Part of the issued capital taken by public is called______
(a) Subscribed
(b) Called – up capital
(c) Un called capital
(d) Paid up capital
Ques. Voting right can’t be exercised in case of___
(a) Calls in advance
(b) Calls in arrears
Ques. Voting Rights are available to share certificate holders.
(a) Yes
(b) No
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Ques. Notice of Adjourn meeting is not required of a meeting is
(a) Adjourn for want of quorum
(b) Adjourn sine die
(c) Adjourn for more than 30 days
(d) None
Ques. If the employer is company other than a banking company deduction will be allowed under 3rd schedule while determining available surplus _____ % of its paid up capital at the commencement of the accounting year
(a) 7.5%
(b) 8.5%
(c) 9.5%
(d) None of these
Ques. Age limit of Directors in case of public company is ___
(a) 80
(b) 75
(c) 70
(d) 65
Ques. Part of authorized capital which is offered by the company for subscription.
(a) subscribed
(b) Issued
(c) Un called
(d) called up
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Ques. ___ is a charge when it is made specifically to cover assets
(a) Fixed
(b) Floating
(c) Specific
(d) Both Fixed & Specific
Ques. In which of the following stamp duty & consideration not necessary ____
(a) Transfer
(b) Transmission
Ques. The companies which are formed under special Act. Those companies are called as
(a) Chartered companies
(b) Registered companies
(c) Statutory companies
(d) None of these
Ques. MoA should be in form ____ in case of a unlimited liability
(a) Table A
(b) Table B
(c) Table E
Ques. ___ is a charge created on a class of assets related to ordinary course of business.
(a) Fixed
(b) Specific
(c) Floating
(d) None of the above
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Ques. Which companies are exempted to add “Ltd” or “Pvt Ltd” at the end of their name
(a) Private
(b) Govt
(c) Defunct
(d) Association not for profits
Ques. The companies which are formed under companies Act. 1956. They will be called as
(a) Chartered companies
(b) Statutory companies
(c) Registered companies
(d) None of these
Ques. ___ is the charter of a company.
(a) Memorandum
(b) Articles
Ques. Reduction & diminution is done under which sec.
(a) 100 & 94
(b) 94 & 100
(c) 100 & 96
(d) 96 & 100
Ques. Transfer of shares in the company is
(a) Restricted
(b) Freely transferable
(c) Prohibited
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Ques. Notice of statutory meeting should be attested by at least.
(a) 3 directors
(b) 2 directors
(c) 4 directors
(d) None of these
Ques. Company will have fundamental rights.
(a) True
(b) False
Ques. Notice of statutory meeting should be attested directors among them one should be compulsory M.D.
(a) Yes
(b) No
Ques. To issue a share certificate Central Government permission is necessary?
(a) Yes
(b) No
Ques. The Provident Fund Scheme is mandatory to employer but not mandatory to employee. Do you agree with this statement?
(a) Agree
(b) Disagree
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Ques. If the employer is a partnership firm deduction will be allowed under 3 rd schedule is while determining available surplus ____ % of the capital invested
(a) 8.5%
(b) 7.5%
(c) 6%
Ques. When there is a untrue statement in a prospectus who can sue
(a) Subscribed in primary market
(b) Subscribed in secondary market
(c) Rights issue
(d) None of the above
Ques. Buy back should be less than or equal to ___ % of total paid up capital
(a) 25
(b) 30
(c) 35
(d) 40
Ques. Company must pass_________ for reducing its share capital
(a) O.R
(b) S.R
(c) C.G permission
(d) None of the these
Ques. Statutory meeting must be held in case of a public company
(a) Yes
(b) No
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Ques. Definition of prospectus was given under which sec.
(a) 2 (30)
(b) 2 (32)
(c) 2 (34)
(d) 2 (36)
Ques. A cost auditor makes his report to:
(a) Members of company
(b) Directors of company
(c) Registrar
(d) C. G.
Ques. In addition to the contribution employer has to pay ______ % of wages as administration charges.
(a) 0.17%
(b) 0.18%
(c) 0.10%
(d) None of these
Ques. In the absence of a quorum the proceedings of the meeting will be___
(a) Valid
(b) Void
Ques. Shraddha Shakti Company accepted deposits on March 1 st 2019 and at the time of acceptance they said that the deposits will be repaid on Aug. 1 st 2020. Is the company proposal and deposits are valid
(a) Yes
(b) No
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Ques. If a company which is formed with unlimited liability wants to convert to limited liability then it should pass
(a) Ordinary resolution
(b) Special resolution
(c) No need
Ques. Any charge is satisfied in full then which form is to be file with ROC_____
(a) 17
(b) 18
(c) 19
(d) 20
Ques. Maximum capital of private company is
(a) 50 Lakhs
(b) 1 Crore
(c) 10 Crore
(d) Unlimited
Ques. A charge requiring registration shall be filed with the registrar with in____
(a) 45 days
(b) 21 days
(c) 30 days
(d) None of the above
Ques. Minutes should be recorded within ____ days from the date of conclusion of every meeting
(a) 10
(b) 20
(c) 30
(d) 40
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Ques. What is minimum period for which deposits can be issued?
(a) 6 months
(b) 7 months
(c) 8 months
(d) None of these
Ques. Is the holder of share warrant is eligible for voting?
(a) Yes
(b) No
Ques. Under which sec. a private company can voluntarily converted into public company___
(a) 34
(b) 44
(c) 54
(d) 64
Ques. In the process of conversion of a private company into a public company which prospectus must be issued
(a) Deemed prospectus
(b) Shelf prospectus
(c) Statement in lieu of prospectus
Ques. All money received in the form of application money can be used for business activities
(a) Yes
(b) No
Ques. Maximum members in case of private company
(a) 50
(b) 100
(c) 75
Ques. Loose – leaf minutes to be bound into books at regular intervals of ____ months
(a) 6
(b) 7
(c) 8
(d) 9
Ques. ___ meeting given an opportunity to the member to know discuss on promotion & formation of the company.
(a) General
(b) EGM
(c) Statutory
Ques. Transfer of shares in case of private company is
(a) Prohibited
(b) Restricted
(c) Freely transferable
Ques. ____ is the conclusive evidence in case of company that statutory requirements have complied with
(a) Certificate of Incorporation
(b) Certificate of commencement of Business
Ques. The min subscription amount is reckoned with amounts payable in___
(a) cash only
(b) kind only
(c) cash as well as kind
Ques. Company to accept calls in advance from shareholders they should have permission in
(a) MOA
(b) AOA
(c) BOD
Ques. Company should file a prospectus in case of conversion of private company into a public company with in ______ from the date of resolution
(a) 30 days
(b) 45 days
(c) 60 days
Ques. Every company must go for under writing
(a) Yes
(b) No
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McQ company law 2013