Company - class-XI
Description: company | |
Number of Questions: 112 | |
Created by: Gauri Chanda | |
Tags: companies act, 2013 - introduction and characteristics business organisation and correspondence business studies company |
Section 3(1) of Companies Act, 2013 defines the term _________.
As per Companies Act, 2013 a dormant company is ___________.
Small company is _________.
Section 2(62) of the companies Act, 2013 has provisions related to ___________.
A private company cannot have more than _______
Company has _______ succession.
A Company is having 1500 shareholders. As per Companies Act, 2013 it __________.
The Companies Act, 2013 extends to -
Secretarial Audit is compulsory for _____________.
As per Companies Act, 2013 financial statement is ________.
Which of the following is characteristic of a company?
(1) Limited Profit
(2) Corporate Personality
(3) Limited Succession
Select the correct answer from the options given below:
Characteristic of a company ________ .
Choose the correct answers from the following alternatives given
Which amounts to fraud:
Perpetual succession means -
Which of the following is advantage of incorporation of company?
Private company which is a subsidiary of a public company is treated as ________.
As per _____ of the Companies Act, 2013 "company" means a company incorporated under Companies Act, 2013 or under any previous company law.
Which of the following is advantage of incorporation of company?
(I) Limited Personality
(II) Limited Liability
(III) Limited Succession
Select the correct answer from the options given below:
Maximum number of members of a private company are ________.
________ has homogeneous members.
In a private company there must not be less than -
A company is legally required to have its accounts audited annually by a _______.
A society registered under the Societies Registration Act come within the term 'Body Corporate'
A company consists of _______ members, whereas a Hindu Undivided Family business consists of _______ members since it consists of members of the joint family itself.
"Company Secretary" or "Secretary" means a company secretary as defined in ____of the Company Secretaries Act, 1980 who is appointed by a company to perform the functions of a Company Secretary under the Act.
A company may be _______________.
A Company Secretary in practice is eligible to become a _____ of National Company Law Tribunal.
A company cannot be registered with the name -
(1) Which is undesirable
(2) Which is identical to name of an existing company
(3) Which is identical to or too nearly resembles the name of an existing company
Select the correct answer from the options given below -
As per Section 275 of the Companies Act, 2013, Company Secretaries have been recognized to be appointed as ______from a panel to be maintained by the Central Government.
Secretarial Audit is also known as -
As per the Rule 8 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed company and every other public company having a paid-up share capital of ______or more shall have whole-time key managerial personnel.
As per Rule 9 of Companies (Incorporation ) Rules, 2014, for reservation of name, application shall be made in ________
Appointment of Company Secretary is mandatory in -
(a) Every listed company
(b) Every unlisted private company having paid-up share capital of Rs.10 Crore or more
(c) Every public company having paid-up capital of Rs.5 Crore or more
(d) Every public company having turnover of Rs. 5 Crore or more
Select the correct answer from the option given below :-
A public company must have atleast _______ and a private company must have at least _______.
For ascertaining as to whether the proposed name is available for adoption, the promoters are required to make an application to the Registrar of Companies in From No. INC 1 along with fee as provided in ____
Small company as defined in Section 2(85) of the Companies Act, 2013 means which of the following company?
Which of the following person is NOT eligible to incorporate One Person Company (OPC) as per Companies Act, 2013?
(1) Indian citizen and resident in India
(2) Person who has already incorporated one OPC in India
(3) Artificial person
(4) Indian citizen and non-resident in India
Select the correct the answer from the options given below
In relation to OPC, "resident in india" means a person who has stayed in India for a period of not less than _______ days during the immediately preceding one calendar year
If the Registrar is satisfied that all requirements, have been complied with, he will register the company and issue the ______.
Which of the following section of the Companies Act, 2013 defines "Government Company"?
A partnership firm cannot become member of the company registered under Section 8 of the Companies Act, 2013.
As per Section 2(69) of the Companies Act, 2013, which of the following person can be treated as "Promoter"?
(I) Who has been named as such in a prospectus or is identified by the company in the annual return referred to in Section 92.
(II) Who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise.
(III) In accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act
(IV) Person who is acting in a professional capacity
Rule 12 of the Companies (Incorporation) Rules, 2014 states that an application for incorporation shall be filed with ROC in _______ in case of one person company or _______ in case of other companies.
According to the Companies Act, 2013, which of the following is/are treated as 'non-current investment'?
Which of the following is not an object of the Companies Act, 2013?
Consider the following statements :
1. Under the new Company Act, 2013, a director is treated as related party.
2. Under the new Company Act, 2013, an 'Official Liquidator' should be appointed under subsection (1) of Section 359.
3. Life Insurance Corporation cannot be treated as a 'Public Financial Institution'.
Which of the above statement/s is/are not correct
Which of the following statements is correct?
Which of the following is a correct statement?
Consider the following statements :
1.Neither the Companies Act, 1956 not the Companies Act, 2013 defines the term 'Person' i.e. the one member of OPC
2. The one member of OPC can be either a natural person or a Juridical person.
3. An OPC cannot be converted into any other class of company.
Which of the above statement/s is/are not true?
Which of the following is considered as a 'tangible asset'?
According to the Section 203 of the Companies Act, 2013 which of the following persons has been covered under term 'Whole-time KMP'?
According to the provisions of Companies Act, 2013 atleast what percent of the average net profits of the company shall be spend in pursuance of CSR activities?
Secretary has a power to give casting vote.
Memorandum of association contains which of the following?
The seal of a company acts as its signature.
According to the Companies Act, 2013 the term 'Bonds' are treated as long term borrowings, but these shall be stated in ____________.
If any _______ is present while forming the agency then the relationship of agency becomes contractual.
Tender is ______.
Which one of the following is known as owners of a company?
_________ have homogeneous members.
The Companies Act, 2013 extends to-.
Study the following information and answer the question that follows:
Principle: A 'fixture' is something attached to land or a building in such a way that it is regarded as an irremovable part of the property you are considering buying. Some typical 'fixture' in a home included the hot water service, range top, wall oven, fixed floor coverings, light fittings and a bulitrin (under bench) dishwasher. Garden plants, including bushes and trees are also 'fixtures'.
Rule A. When land is sold, all 'fixtures' on the land are also deemed to have been sold.
Rule B. If a movable thing is attached to the land or any building on the land, than it becomes a 'fixture'.
Factual Situation Khaleeda wants to sell a plot of land she owns in Beghmara (Meghalaya) and the sale value decided for the plot includes the fully-furnished palatial six-bedroom house that she has built on it five years ago. She sells it to Gurpreet for $Rs. 60$ lakh. After completing the sale, she removes the expensive Iranian carpet which used to cover entire wooden floor of one of the bedrooms. The room had very little light and Khaleeda used this light-coloured radiant carpet to negate some of the darkness in the room. Gurpreet, after moving in, realises this and files a case to recover the carpet from Khaleeda.
Assume that in the above fact scenario, Khaleeda no longer wants the carpet. She removes the elaborately carved door to the house after the sale has been concluded and claims that Gurpreet has no claim to the door. The door is question was part of Khaleeda's ancestral home in Nagercoil (Tamil Nadu) for more than $150$ years before she had it fitted as the entrance to her Beghmara house.
Rule C. If a moveable thing is placed on land with the intention that it should become an integral part of the land or any structure on the land, it becomes a fixture. Applying Rules A and C, to the fact situations in questions $44$ and $45$, as a judge you would decide in favour of
A company can be created in several ways. Which ONE of the following is NOT a valid method of creating a company?
In how much time companies are required to switch over to the new format of Register of members?
Register of members is to be prepared as per ____________.
A company was incorporated on 1st January, 2014. Its financial year will be _________.
Profit making companies are required to spend _____% their average net profit for activities related to corporate social responsibility.
A partnership firm cannot become member of the company registered under Section 8 of the Companies Act, 2013.
An association not for profit registered under the Companies Act, 2013 popularly known as__.
Licence under Section 8 of the Companies Act, 2013, may be granted by Central Government if ____________.
(i) It is intended to form a company for promoting commerce, art, science, religion, charity or any other useful object
(ii) The company allows the payment of dividend to its members
(iii) Apply its profits or other income in promotion of its objects
Select the correct the answer from the options given below-
Section 2(45) of the Companies Act, 2013 defines a "Government company" as any company in which not less than ___________ of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government or partly by one or more State Governments.
Characteristic of a company ..........
(I) Transferability of profits
(II) Property of company is joint property of shareholders
(III) Compulsory Common Seal
Select the correct answer from the options given below:
Which of the following case clearly established the principle that company is a legal person distinct from its members?
"A company, in broad sense, may mean an association of individuals formed for some purpose" was observed in?
In the case of a company limited by guarantee, the members are liable only to the extent of the amount guaranteed by them.
Preference shares are those which carry the preferential rights as to____.
Statement A: A company dies with the death of its shareholders.
Statement B: In the case of a private company, every member owing fully paid up shares can freely transfer shares held by him.
Select the correct the answer from the options given below:
PRINCIPLE: An incorporated company under the Companies Act has a separate entity and corporate liability.
FACTS: Certain persons transferred a tea estate to an incorporated company and claimed exemptions from 'ad valorem' duty on the ground that they themselves were shareholders in the company.
_____ is an artificial person created by law, having separate entity, with perpetual succession and a common seal.
License under Section 8 of Companies Act, 2013 may be granted by Central Government if _______
(i) It is limited to form a company for promoting commerce, art, science, religion charity or any other useful object
(ii) The company allows the payment of dividend to its members
(iii) Apply its profits or other income in promotion of its objects
Select the correct answer from the options given below -
"Body Corporate" or "Corporation" includes a company incorporated outside India but does not include __________
Section 2(45) of the Companies Act, 2013 defines a "Government company" as any company in which not less than ____ of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government or partly by one or more State Governments.
The auditor of Government Company is appointed or reappointed by the -
Statement X: As a corporate person, the company is not entitled to own and hold property in its own name.
Statement Y: Member can claim ownership of any time of the company's assets.
Select the correct the answer from the options given below:
Which of the following as section permits the registration, under a licence granted by the Central Government, of associations not for profit with limited liability without being required to use the word "Limited" or the words "Private Limited" after their names?
As per section 2(51) of the Companies Act, 2013, "Key Managerial Personnel", in relation to a company, means -
(i) Chief Executive Officer or the managing director or the manager
(ii) Company Secretary
(iii) General Manager
(iv) Whole Time Director
(v) Chief Legal Officer
(vi) Chief Financial Officer
Select the correct the answer from the options given below:-
Which of the following is advantage incorporation of company?
(A) Capacity to sue
(B) Greater social responsibility
(C) Corporate personality
(D) Detailed winding-up procedure
Select the correct answer from the options given below:
On incorporation, a company acquires legal entity with perpetual succession and a __________.
A whole time KMP which includes Company Secretary shall not hold office in______________.
The expression "Secretarial Standards" means -
The first step towards incorporation of a company is -
Which of the following statement is CORRECT in relation to Non-Profit making companies registered under Section 8 of the Companies Act, 2013?
(I) Non-profit making companies registered can pay 10% of their surplus as dividend on approval of central government.
(II) A firm may be a member of the non-profit making companies.
(III) Non-profit making companies registered cannot convert itself into company of any other kind.
(IV) Non-profit making companies has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object.
Select the correct answer from the options given below -
Which of the following Section of the Companies Act, 2013 specify the functions of Company Secretary?
In case of OPC and small company, the annual return shall be signed by the_________.
As regards ratification of promoters contracts, the view taken in _______ was that the company could not ratify contract made by a promoter before its incorporation.
Which of the following section of the Companies Act, 2013 contains provisions as regards to qualifications of auditors?
Which of the following is function of Company Secretary?
As per Section 139(6) of the Companies Act, 2013 provides that the first auditor or auditors are to be appointed by the Board of directors within ____________ of the date of the registration of the company.
Which of the following shall be eligible for appointment as an auditor of an company as per section 141(3) of the Companies Act, 2013?
Which of the following section of the Companies Act, 2013 contains provisions regarding the appointment of the auditor?
In which of the following independent case Mr. Ram can be appointed as auditor of the XYZ Ltd. as per Companies Act, 2013?
(I) Relative of Mr. Ram hold securities of Rs. 50,000 in XYZ Ltd.
(II) Mr. Y, the partner of Mr. Ram has debt payable to PQR Ltd. (Subsidiary of XYZ Ltd.) of Rs. 3,00,000.
(III) Mr. Z partner of Mr. Ram is working as General Manager in XYZ Ltd.
(IV) Mr. B has taken load of Rs. 2 lakh from XYZ Ltd. and relative of Mr. Ram has given guarantee for this transaction.
The correct answer is -
The section 211 of Companies Act, 2013 describes rules and regulations regarding __________________.
Section 143(1) of the Companies Act, 2013 requires an auditor to inquire -
As per Rule 10 of the Companies (Appointment & Remuneration of Managerial Personnel ) Rules, 2014, which of the following are duties of Company Secretary?
(1) To provide guidance to the directors with regards to their duties, responsibilities and powers.
(2) To formulate the business strategies.
(3) To represent before various Regulators, and other authorities in connection with
discharge of various duties.
(4) To call annual general meeting and extraordinary general meeting on his own.
Select the correct answer from options given below-
The minute of the proceedings of every general meeting should be recorded in the books kept for that purpose within _________________.
Which of the following rights are available to auditors of the company as per the provisions of the Companies Act, 2013?
(I) Right to sign the audit report
(II) Right to speak at general meeting
(III) Right to attend general meeting
(IV) Right to advice company on their financial policies
(V) Right to visit branch office
Select the correct answer from the options given below -
An auditor may function as -
(I) An employee
(II) An independent professional
The correct answer is -
Which of the following person is NOT eligible to incorporate One Person Company (OPC) as per Companies Act, 2013?
(1) Indian citizen and resident in India
(2) Person who has already incorporated one OPC in India
(3) Artificial person
(4) Indian citizen and non-resident in India
Select the correct the answer from the options given below-
As per Section 464 of the Companies Act, $2013$, no association or partnership consisting of more than prescribed persons shall be formed for the purpose of carrying on any business, unless it is registered as a company or is formed under any other law for the time being in force. The number of persons which may be prescribed under this section shall not exceed __. Rule 10 of Companies (Miscellaneous) Rules, 2014 prescribes ___ persons in this regard.
Which of the following sections permits the registration, under a licence granted by the Central Government, of associations not for profit with limited liability without being required to use the word "Limited" or the words "Private limited" after their names?
Which of the following is true?
Which of the following is not a regulatory body?