Law Ethics And Communication

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  • 1. 
    Which of the following is not a restriction associated with a Private Company?
    • A. 

      Transfer of shares

    • B. 

      Invitation to Public

    • C. 

      Limits the number of Members to 200

    • D. 

      Cannot have a Subsidiary Company

  • 2. 
    Percentage of Share Capital required for a company to be called as an Associate Company is
    • A. 

      20%

    • B. 

      51%

    • C. 

      10%

    • D. 

      18%

  • 3. 
    As Per SEBI Guidelines, Every Public Company in India should be a listed Company
    • A. 

      True

    • B. 

      False

    • C. 

      Cannot Say

    • D. 

      None of the above

  • 4. 
    Which of the Following is not a Public Financial Institution under the Companies Act, 2013?
    • A. 

      Life Insurance Corporation of India

    • B. 

      Infrastructure Development Finance Company

    • C. 

      Companies referred to in UTI Act

    • D. 

      State Bank of India

  • 5. 
    To convert a Public Company to a Private Company, the approval has to be given by
    • A. 

      Central Government

    • B. 

      Tribunal

    • C. 

      Supreme Court

    • D. 

      ROC

  • 6. 
    Can a person incorporate more than one OPC
    • A. 

      Yes

    • B. 

      No

    • C. 

      Yes, with CG approval

    • D. 

      None

  • 7. 
    Documents required to be filed with Registrar for Incorporating a Company:
    • A. 

      Affidavit from Subscribers

    • B. 

      MOA and AOA

    • C. 

      Address for Correspondence

    • D. 

      All of the above

  • 8. 
    Can a Shareholder Mortgage their Shares and take loan from the Company?
    • A. 

      Yes

    • B. 

      Not possible

    • C. 

      Yes, provided it is approved by AOA

    • D. 

      No, even if it is approved by AOA

  • 9. 
    The Registered Office of a Company can be changed by passing:
    • A. 

      Ordinary Resolution

    • B. 

      Special Resolution

    • C. 

      Board Resolution

    • D. 

      Unanimous Resolution

  • 10. 
    Which of the following is not a Memorandum Clause?
    • A. 

      Liability Clause

    • B. 

      Name Clause

    • C. 

      Situation Clause

    • D. 

      Remuneration Clause

  • 11. 
    Which Principle states that it is the outsider's responsibility to look into company's Documents before entering into any agreement?
    • A. 

      Doctrine of Indoor Management

    • B. 

      Doctrine of Constructive Notice

    • C. 

      Doctrine of Nullification

    • D. 

      Doctrine of Prima Facie

  • 12. 
    Where a Company has raised money from public through prospectus and still has any unutilized amount, Objects Clause can be changed only through:
    • A. 

      Special Resolution

    • B. 

      Special Resolution through Postal Ballot

    • C. 

      Cannot change the Objects Clause

    • D. 

      Can change only with Central Govt approval

  • 13. 
    Can Central Govt give any direction to a Company to rectify its name?
    • A. 

      Yes

    • B. 

      No

    • C. 

      May be

    • D. 

      None of the above

  • 14. 
    Resolution required to alter Articles of Association of a Company:
    • A. 

      Ordinary Resolution

    • B. 

      Special Resolution

    • C. 

      Board Resolution

    • D. 

      No Resolution required

  • 15. 
    The Contracts which are entered into, by agents or trustees on behalf of a prospective company before It has come into existence are called:
    • A. 

      Preliminary Contracts

    • B. 

      Pre-Incorporation Contracts

    • C. 

      Quid-Pro Contracts

    • D. 

      None of the above

  • 16. 
    A Company Promoter has Right to demand remuneration for his promotional services:
    • A. 

      True

    • B. 

      False

    • C. 

      True, Provided it is stated in AOA

    • D. 

      None of the above

  • 17. 
    A Company can serve documents to its members through:
    • A. 

      Post

    • B. 

      Courier

    • C. 

      Email

    • D. 

      All of the above

  • 18. 
    Which of the following is included in the definition of Prospectus?
    • A. 

      Advertisement

    • B. 

      Circular

    • C. 

      Notice

    • D. 

      All of the above

  • 19. 
    Which of the following details need not be stated in a Prospectus?
    • A. 

      Names and addresses of Directors

    • B. 

      Dates of Opening and Closing of Subscription list

    • C. 

      Address of Company's registered office

    • D. 

      Details of Company Bankers

  • 20. 
    Time limit within which Prospectus need to be issued to public after it is Registered with ROC:
    • A. 

      45 days

    • B. 

      30 days

    • C. 

      90 days

    • D. 

      120 days

  • 21. 
    The Prospectus through which a company can make more than one Public Issue and raise moneys is called
    • A. 

      Abridged Prospectus

    • B. 

      Shelf Prospectus

    • C. 

      Red-Herring Prospectus

    • D. 

      Recurring Prospectus

  • 22. 
    What is the validity of a Shelf Prospectus?
    • A. 

      6 Months

    • B. 

      1 Year

    • C. 

      18 Months

    • D. 

      24 Months

  • 23. 
    A Prospectus which does not include complete details of quantum of price of the securities is called
    • A. 

      Shelf Prospectus

    • B. 

      Abridged Prospectus

    • C. 

      Red Herring Prospectus

    • D. 

      Blank Prospectus

  • 24. 
    A Company proposing to issue a Red Herring Prospectus shall file it with the Registrar at least _______ days prior to the opening of subscription list:
    • A. 

      30 days

    • B. 

      3 days

    • C. 

      7 days

    • D. 

      15 days

  • 25. 
    In case of any misstatement in prospectus, the persons liable are:
    • A. 

      Promoters

    • B. 

      Directors

    • C. 

      Expert

    • D. 

      All of the above

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