Law Ethics And Communication

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1. Every Member of the company has a right to ask for the copies of the following:

Explanation

Every member of a company has the right to ask for copies of the Memorandum of Association (MOA), resolutions passed at meetings, and Articles of Association (AOA). This means that they have the right to access and obtain these important documents that outline the company's structure, rules, and decisions. By having access to these documents, members can stay informed about the company's operations and exercise their rights as shareholders or stakeholders.

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About This Quiz
Law Quizzes & Trivia

This quiz on 'Law Ethics and Communication' tests knowledge on corporate laws, specifically focusing on company types, shareholding, and regulatory compliance. It evaluates understanding of legal structures and... see morerestrictions crucial for professionals in law and business sectors. see less

2. What are the grace days allowed on a negotiable instrument after the day on which it becomes payable?

Explanation

After a negotiable instrument becomes payable, there is a grace period of 3 days allowed. This means that the payee has an additional 3 days to make the payment without incurring any penalties or consequences. This grace period provides some flexibility for the payee in case there are any delays or issues in making the payment on the exact due date.

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3. Which of the following is a principle of Oral Communication:

Explanation

The principle of oral communication is to be sincere, allow time to respond, and use polite words and tone. Being sincere means speaking honestly and genuinely, without any hidden agendas or deception. Allowing time to respond is important because it shows respect for the other person's thoughts and opinions, and allows for a more meaningful and effective conversation. Using polite words and tone is crucial in maintaining a respectful and positive communication environment, as it helps to avoid misunderstandings and conflicts. Therefore, all of the above options are principles of oral communication.

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4. Bonus shall be paid to:

Explanation

The given answer "All of the above" is correct because the question asks about who will receive a bonus, and all three options - daily wage laborer, temporary employee, and part-time employee - are eligible to receive a bonus. Therefore, all of these categories of employees will be paid a bonus.

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5. Which of the following days shall be deemed to be the working days of an employee and shall be counted while calculating the total working days on which he has been on work for the purpose of bonus:

Explanation

The question is asking which days should be considered as working days for the purpose of calculating the total working days for bonus calculation. The correct answer is "All of the above" because all the mentioned days - day when he has been laid off, leave with salary or wage, and maternity leave - should be counted as working days. Even though the employee may not physically be present at work during these days, they are still entitled to receive salary or wage, and therefore, these days should be included in the calculation of total working days for bonus purposes.

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6. The Employee Provident Fund Scheme extends to whole of India, except to the state of:

Explanation

The Employee Provident Fund Scheme extends to the whole of India, except for the state of Jammu and Kashmir. This means that employees in all other states in India are covered under the scheme, which provides them with a retirement savings plan and social security benefits. However, due to the special status of Jammu and Kashmir, the scheme does not apply in this state.

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7. Which of the following is the Right of a Member in a company:

Explanation

All of the options listed are rights of a member in a company. The right to attend general meetings allows members to participate in decision-making processes and stay informed about the company's activities. The right to obtain copies of the Memorandum of Association (MOA) and Articles of Association (AOA) ensures that members have access to the company's governing documents. Lastly, the right to inspect company books of account enables members to review the financial records and ensure transparency and accountability within the company.

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8. The Payment of Bonus Act, 1965 does not apply to employees employed by:

Explanation

The Payment of Bonus Act, 1965 does not apply to employees employed by the Reserve Bank of India, Life Insurance Corporation, and the Indian Red Cross Society. This means that these organizations are exempted from the provisions of the act regarding the payment of bonuses to their employees.

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9. An employee in the following cases is entitled to bonus:

Explanation

In all three cases mentioned, the employee is entitled to a bonus. A probationer, although not yet a permanent employee, is still eligible for a bonus as per company policies. Similarly, a dismissed employee who is reinstated with back wages is entitled to receive a bonus as part of their compensation. Lastly, a piece-rated worker, who is paid based on their output, is also eligible for a bonus based on their performance. Therefore, all of the above scenarios warrant the entitlement of a bonus for the employees.

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10. Share Capital can be altered by;

Explanation

The share capital of a company can be altered through various means, including sub-division, cancellation, and consolidation. Sub-division refers to dividing existing shares into smaller units, while cancellation involves the elimination of shares. Consolidation, on the other hand, combines multiple shares into a single unit. Therefore, all of the mentioned options can be used to alter the share capital of a company.

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11. The right to receive the notice of AGM rests with:

Explanation

All of the above have the right to receive the notice of the Annual General Meeting (AGM). Members of the company have the right to be informed about the AGM, as they are the owners of the company and have a vested interest in its affairs. The auditor, being an independent professional appointed to review the company's financial statements, should also be notified to ensure transparency and accountability. Directors, being responsible for the management of the company, need to be informed about the AGM to fulfill their duties and make informed decisions. Therefore, all three parties mentioned have the right to receive the notice of the AGM.

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12. Which of the following is treated as an Ordinary Business at a general meeting?

Explanation

All of the above options are treated as Ordinary Business at a general meeting. The consideration of financial statements is a regular activity where the company's financial performance is reviewed. The declaration of dividends is also a routine matter where the distribution of profits to shareholders is decided. Lastly, the appointment of directors is a common agenda item as it involves the selection of individuals to serve on the company's board. Therefore, all three options are considered as ordinary business matters that are typically discussed and decided upon at a general meeting.

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13. Which of the following allowance forms the part of salary for computing bonus payable to an employee?

Explanation

The Dearness Allowance forms a part of the salary for computing bonus payable to an employee. Dearness Allowance is a component of salary that is provided to employees to offset the impact of inflation on their purchasing power. It is usually calculated as a percentage of the basic salary and is revised periodically to account for changes in the cost of living. Since the bonus payable to an employee is often based on their salary, the Dearness Allowance is considered while calculating the bonus amount.

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14. Documents required to be filed with Registrar for Incorporating a Company:

Explanation

The correct answer is "All of the above" because when incorporating a company, all of the mentioned documents are required to be filed with the Registrar. An affidavit from subscribers is necessary to confirm their intention to become shareholders of the company. The Memorandum of Association (MOA) and Articles of Association (AOA) outline the company's objectives, rules, and regulations. An address for correspondence is needed to establish a communication channel with the company. Therefore, all of these documents are essential for the incorporation process.

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15. Which of the following is included in the definition of Prospectus?

Explanation

The correct answer is "All of the above". A prospectus is a document that provides information about a company, investment, or project to potential investors. It typically includes advertisements, circulars, and notices that help promote and provide details about the offering. Therefore, all of these options are included in the definition of a prospectus.

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16. Securities Premium accounts may be utilized by the company towards;

Explanation

Securities Premium accounts can be used by a company for various purposes. Firstly, it can be utilized for writing off preliminary expenses, which are the costs incurred during the setup or incorporation of the company. Secondly, it can be used for writing off commission expenses, which are the fees paid to brokers or agents for their services. Lastly, securities premium accounts can also be utilized for a buyback, which is when a company repurchases its own shares from the market. Therefore, the correct answer is "All of the above."

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17. What are the sources for buy-back of shares?

Explanation

The sources for buy-back of shares include free reserves, securities premium account, and proceeds of fresh issue. Free reserves refer to the accumulated profits of a company that can be utilized for various purposes, including buying back shares. The securities premium account is created when a company issues shares at a premium, and the amount in this account can be used for buy-backs. Lastly, the proceeds from a fresh issue of shares can also be utilized for buying back shares. Therefore, all of the above options are correct sources for buy-back of shares.

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18. Which of the following is a characteristic feature of Negotiable Instrument?

Explanation

A negotiable instrument is a document that guarantees the payment of a specific amount of money to a specified person or the assignee. It has certain characteristic features, and one of them is that it must be drawn for consideration, meaning it must be created in exchange for something of value. Another characteristic feature is that it must have a signature, which is essential for authentication purposes. Lastly, a negotiable instrument must be transferrable, meaning it can be transferred from one person to another by endorsement or delivery. Therefore, "All of the above" is the correct answer as it includes all the characteristic features of a negotiable instrument.

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19. The Payment of Bonus Act, 1965 shall apply to:

Explanation

The Payment of Bonus Act, 1965 applies to all of the above options. The act is applicable to every factory, establishments employing 20 or more persons, and establishments that have been notified by the Attorney General. This means that all factories, establishments with 20 or more employees, and establishments notified by the AG are required to comply with the provisions of the Payment of Bonus Act, 1965.

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20. Under Gratuity Act, the number of days on which an employee has actually worked under an employer shall include the days on which:

Explanation

Under the Gratuity Act, the number of days on which an employee has actually worked under an employer includes the days on which the employee has been laid off, the days on which the employee has been on leave with full wages, and the days on which the employee has been absent due to temporary disablement. Therefore, the correct answer is "All of the above." This means that all of these situations are considered as days on which the employee has actually worked for the purpose of calculating gratuity.

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21. Which of the following is treated as an Ordinary Business at a general meeting?

Explanation

Declaration of Dividend is treated as an Ordinary Business at a general meeting. This is because the declaration of dividend is a routine matter that is typically discussed and approved at regular general meetings. It involves the distribution of profits to shareholders as a form of return on their investment. Unlike the other options listed, such as cancellation of share capital or issue of bonus shares, which may require special resolutions or additional approvals, the declaration of dividend is a standard practice that is commonly addressed during general meetings.

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22. Under EPF Scheme, the Definition of Salary shall include:

Explanation

Under the EPF Scheme, the definition of salary includes retaining allowance, dearness allowance, and basic salary. This means that all three of these components are considered as part of an employee's salary for the purpose of calculating EPF contributions.

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23. The Central Board of Trustee under EPF Scheme shall include:

Explanation

The Central Board of Trustees under the EPF Scheme is responsible for managing and overseeing the Employees' Provident Fund. It consists of 5 persons appointed by the Central Government, 10 persons representing employees, and 10 persons representing employers. This composition ensures that the board includes representatives from all relevant stakeholders, including the government, employees, and employers, to make decisions and policies that are fair and balanced for all parties involved.

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24. Which of the following is a type of Grapevine Communication:

Explanation

Grapevine communication refers to the informal, unofficial, and often gossip-based communication network within an organization. It is characterized by its ability to spread information quickly and across various channels. "Single Strand" refers to a type of grapevine communication where information is passed on in a linear manner from one person to another. "Gossip Chain" refers to a type of grapevine communication where information is spread through a sequence of individuals. "Cluster Chain" refers to a type of grapevine communication where information is spread through various groups or clusters of individuals. Therefore, "All of the above" is the correct answer as all three options represent different types of grapevine communication.

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25. Which of the following activity requires alteration of MOA?

Explanation

All of the mentioned activities require alteration of MOA because they involve significant changes in the company's structure or operations. Changing the company's name requires amending the MOA to reflect the new name. Shifting the registered office to another state also requires alteration of the MOA as it involves changing the jurisdiction and legal framework under which the company operates. Similarly, reducing the authorized capital of the company requires amending the MOA to reflect the new capital structure. Hence, all of the above activities require alteration of MOA.

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26. A Cheque shall be dishonored on the basis of:

Explanation

A cheque can be dishonored on the basis of various reasons, including the insanity, death, or insolvency of the customer. If the customer is declared insane or passes away, they will not be able to fulfill their financial obligations, resulting in the dishonor of the cheque. Similarly, if the customer becomes insolvent, they may not have sufficient funds to cover the amount mentioned on the cheque, leading to its dishonor. Therefore, all of the mentioned reasons can result in the dishonor of a cheque.

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27. A Company can serve documents to its members through:

Explanation

The company can serve documents to its members through post, courier, and email. This means that the company has the option to send documents to its members using traditional mail services, through a courier service, or electronically via email. Using all of these methods provides flexibility and ensures that the company can reach its members efficiently, regardless of their preferred communication method or location.

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28. The Capital which is subscribed by members of a company is called:

Explanation

Subscribed capital refers to the total amount of capital that shareholders have agreed to contribute to a company. It represents the portion of the authorized capital that shareholders have committed to buying. This capital may or may not be fully paid up, meaning that shareholders may still owe a portion of their subscribed capital to the company. The term "subscribed capital" is commonly used in company law and accounting to distinguish the amount of capital that shareholders have committed to from the amount that has actually been paid up.

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29. A company may issue fully paid-up bonus shares to its members out of

Explanation

A company may issue fully paid-up bonus shares to its members out of its free reserves, the securities premium account, or the capital redemption reserve account. Free reserves are the profits that a company has accumulated over the years and are available for distribution to shareholders. The securities premium account is created when a company issues shares at a premium, which is the amount received above the face value of the shares. The capital redemption reserve account is created when a company redeems its own shares. Therefore, all of these sources can be used to issue fully paid-up bonus shares to shareholders.

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30. Interest on Debentures is paid even if there are no profits:

Explanation

Interest on debentures is a fixed obligation that a company must pay to the debenture holders regardless of its profitability. Unlike dividends, which are paid out of profits, interest on debentures is a contractual obligation that must be fulfilled. Therefore, even if a company does not make any profits, it is still legally bound to pay interest on its debentures.

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31. A Minute book shall be maintained for:

Explanation

A minute book is a record of the proceedings and decisions made during various meetings. It is necessary to maintain a minute book for board meetings as it provides a detailed account of discussions, resolutions, and actions taken by the board of directors. Similarly, a minute book is also important for general meetings, such as annual general meetings, as it records the decisions made by shareholders or members. Additionally, meetings with creditors are crucial for discussing financial matters and negotiating terms, making it essential to maintain a minute book for these meetings as well. Therefore, all of the above options require a minute book to be maintained.

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32. What is the validity period of a Cheque:

Explanation

A cheque has a validity period of 3 months. This means that it can be cashed or deposited within this time frame. After the expiration of the 3-month period, the cheque becomes stale and may not be accepted by banks. This validity period is in place to ensure that cheques are processed in a timely manner and to prevent any potential fraud or misuse of outdated cheques. Therefore, it is important for individuals and businesses to cash or deposit their cheques within the specified time limit.

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33. In case of any misstatement in prospectus, the persons liable are:

Explanation

The correct answer is "All of the above." In the case of any misstatement in the prospectus, all three parties mentioned - promoters, directors, and experts - are liable. Promoters are responsible for preparing and issuing the prospectus, directors are responsible for ensuring its accuracy and completeness, and experts are responsible for any statements made by them in the prospectus. Therefore, if there is any misstatement in the prospectus, all three parties can be held liable.

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34. Notice of an Annual General Meeting shall be given:

Explanation

The notice of an Annual General Meeting should be given to every member of the organization, as well as to the legal representative of a deceased member and the assignee of an insolvent member. This ensures that all relevant parties are informed and have the opportunity to attend and participate in the meeting.

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35. The Payment of Bonus Act, 1965 does not apply to employees employed by:

Explanation

The Payment of Bonus Act, 1965 does not apply to employees employed by universities or educational institutions, financial institutions, or inland water transport. This means that these employees are not entitled to receive bonus payments as per the provisions of this act.

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36. Which of the following employee is not entitled to bonus?

Explanation

An apprentice is not entitled to a bonus because they are typically in a training or learning position and are not considered regular employees. Apprenticeships are often temporary and involve hands-on learning and skill development under the guidance of a more experienced worker. Therefore, they do not meet the criteria for receiving a bonus, which is usually given to regular employees as a form of additional compensation for their performance or contribution to the company.

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37. The process of translating the message received and interpreting its meaning is called:

Explanation

Decoding refers to the process of translating a received message and interpreting its meaning. It involves understanding the symbols or codes used in the message and extracting the intended information from them. This process is essential for effective communication as it allows the recipient to comprehend the message and respond appropriately. Encoding, on the other hand, is the process of converting information into a format suitable for transmission or storage. Docking and "None of the above" are unrelated terms and do not accurately describe the process of translating and interpreting messages.

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38. The offer of shares to a select group of persons by a company without the need of issue of a prospectus is called

Explanation

Private placement refers to the offer of shares to a select group of individuals or institutions without the need for a prospectus. This method is commonly used by companies to raise capital from specific investors, such as institutional investors or high net worth individuals, without going through the process of a public offering. Private placement allows companies to raise funds quickly and efficiently, while also maintaining confidentiality and flexibility in the transaction.

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39. The securities premium account may be applied by the company

Explanation

The securities premium account can be utilized by the company for various purposes. It can be used to write off the preliminary expenses incurred by the company, which are the initial costs associated with setting up the company. Additionally, it can also be used to provide for the premium that needs to be paid on the redemption of any redeemable preference shares. Therefore, the correct answer is "All of the above" as all the mentioned options are valid uses of the securities premium account.

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40. What is the rate of minimum bonus payable to an employee as per the Bonus Act?

Explanation

The rate of minimum bonus payable to an employee as per the Bonus Act is 8.33%. This means that an employee is entitled to receive a bonus of at least 8.33% of their salary or wage earned during the accounting year. The Bonus Act ensures that employees receive a minimum bonus as a form of additional compensation for their work.

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41. Which of the following payments are deductible from the amount payable as Bonus?

Explanation

All of the mentioned payments, namely Customary Bonus, Puja Bonus, and Interim Bonus, are deductible from the amount payable as Bonus. This means that these payments can be subtracted or reduced from the total Bonus amount that an individual is entitled to receive.

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42. Which of the following is a Material Alteration under the NI Act, 1881:

Explanation

All of the options mentioned in the question are examples of material alterations under the NI Act, 1881. Filling blanks of an inchoate instrument refers to filling in missing information on a partially completed document, which can change its meaning or terms. Conversion of a blank endorsement to full means adding the name of the endorsee to a previously blank endorsement, which also alters the nature of the instrument. Crossing of a cheque involves drawing two parallel lines across the face of the cheque, which adds a degree of security and restricts the mode of its payment. Therefore, all of these actions constitute material alterations under the NI Act, 1881.

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43. Minimum number of members required to form a public company:

Explanation

The minimum number of members required to form a public company is 7. This means that at least 7 individuals need to come together to establish a public company. This requirement ensures that there is a sufficient number of people involved to make important decisions and share responsibilities in the company. Having a minimum number of members also helps ensure that there is a diverse range of perspectives and expertise within the company, which can contribute to its success.

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44. What is the remedy for non-payment of calls or instalments of call or other sums as premiums due in respect of shares

Explanation

Forfeiture of shares is the remedy for non-payment of calls or instalments of call or other sums as premiums due in respect of shares. This means that if shareholders fail to make the required payments, their shares can be forfeited by the company. This allows the company to cancel the shares and retain any payments that have already been made by the shareholders. Forfeiture of shares is a common practice to enforce payment obligations and protect the interests of the company and its shareholders.

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45. In case of illegal agreements, the collateral agreements are:

Explanation

In case of illegal agreements, collateral agreements are considered void. This means that they have no legal effect and cannot be enforced by either party involved. The reason for this is that illegal agreements are against the law and therefore cannot be upheld in a court of law. As a result, any collateral agreements that are connected to an illegal agreement are also rendered void and cannot be legally binding.

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46. Right of lien is lost for the seller, when _____

Explanation

In all the above cases, the right of lien is lost for the seller. This means that regardless of whether the goods are delivered to the carrier, the buyer or his agent obtains possession of the goods lawfully, or the seller waives his right of lien, the seller will no longer have the right to retain possession of the goods until payment is made.

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47. The Provisions of 'Small Company' shall not apply to:

Explanation

The provisions of 'Small Company' shall not apply to a Holding or Subsidiary Company, a company registered under Section 8, and a company formed under a special act. This means that these types of companies are not eligible to avail the benefits and exemptions provided to small companies under the relevant laws and regulations.

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48. The Registered Office of a Company can be changed by passing:

Explanation

The Registered Office of a Company can be changed by passing a Special Resolution. A Special Resolution is a resolution that requires the approval of a specified majority of shareholders, usually at least 75% or more. Changing the registered office is a significant decision that can impact the company's legal and administrative matters, so it requires a higher level of approval than an Ordinary Resolution or a Board Resolution. A Unanimous Resolution would require the approval of all shareholders, which may not be practical or necessary for changing the registered office.

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49. Resolution required to alter Articles of Association of a Company:

Explanation

A special resolution is required to alter the Articles of Association of a company. This type of resolution is used for important decisions that require a higher majority vote from the shareholders. Altering the Articles of Association is a significant change that affects the fundamental structure and governance of the company. Therefore, it is necessary to have a special resolution to ensure that the decision is made with careful consideration and with the support of a significant majority of shareholders. A special resolution typically requires a vote of at least 75% or more of the shareholders present and voting at a general meeting.

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50. Maximum number of Members in a Private Limited Company:

Explanation

The maximum number of members in a private limited company is 200. This means that a private limited company can have a maximum of 200 shareholders or members. This limit is set by the Companies Act, which governs the formation and operation of companies in many jurisdictions. Private limited companies are often chosen by small and medium-sized businesses as they offer limited liability protection to the shareholders and have less stringent reporting and compliance requirements compared to public limited companies.

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51. Can Central Govt give any direction to a Company to rectify its name?

Explanation

The central government can give directions to a company to rectify its name because it has the authority to regulate and govern businesses in the country. If a company's name is found to be misleading or in violation of any laws or regulations, the central government can intervene and instruct the company to make the necessary changes to comply with the rules.

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52. A Company shall pass a _____ to issue Global Depository Receipts:

Explanation

A company shall pass a Special Resolution to issue Global Depository Receipts. This is because issuing Global Depository Receipts involves significant changes or decisions that affect the company's structure or operations. A Special Resolution requires a higher majority of votes from the shareholders, typically at least 75% or more, indicating that a significant majority of shareholders are in favor of the decision. This ensures that major decisions like issuing Global Depository Receipts are made with the consent and agreement of a significant majority of the shareholders.

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53. Company's Share Premium account cannot be utilized towards

Explanation

The Share Premium account is a reserve created when a company issues shares at a premium, which is the amount received above the face value of the shares. This reserve cannot be utilized for writing off depreciation because depreciation is a non-cash expense that represents the decrease in value of an asset over time. It is not directly related to the issuance of shares or the premium received. Therefore, the Share Premium account cannot be used to cover depreciation expenses.

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54. In order to issue Sweat Equity Shares, a company has to pass

Explanation

In order to issue Sweat Equity Shares, a company has to pass a Special Resolution. A Special Resolution is a resolution passed by the members of a company which requires a higher majority of votes (usually 75% or more) in favor of the resolution. This is a requirement under the Companies Act, and it ensures that the issuance of Sweat Equity Shares is approved by a significant majority of the shareholders, providing a higher level of protection for the interests of the company and its existing shareholders. A Board Resolution, on the other hand, is a resolution passed by the board of directors and is not sufficient for issuing Sweat Equity Shares.

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55. Merchantable Quality of goods means __

Explanation

Merchantable Quality of goods means that the goods are free from latent defects, meaning there are no hidden or undisclosed flaws or faults. Additionally, the goods are marketable at their full value, indicating that they are in a condition suitable for sale and can be sold at their intended price. Lastly, the goods can be used for the purpose for which they are purchased, ensuring that they meet the buyer's expectations and serve their intended function. Therefore, the correct answer is "All of the above."

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56. Which of the following is true relating to a proxy:

Explanation

The statement "All of the above" is the correct answer because it encompasses all the given options. It states that a proxy shall not have the right to speak at the meeting, a proxy cannot vote on show of hands, and a proxy is not counted for a quorum. Therefore, all the statements mentioned are true in relation to a proxy.

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57. The type of Grapevine transmission where communication passes on one-on-one basis. For eg., A tells something to B and, B sends this to C and thereon.

Explanation

The correct answer is Single Strand Chain. In this type of Grapevine transmission, communication is passed on a one-on-one basis. It starts with one person (A) sharing something with another person (B), who then passes it on to another person (C), and so on. This creates a linear chain of communication, where information is transmitted from one person to the next in a sequential manner.

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58. Which of the following is not a Memorandum Clause?

Explanation

The given options are all types of clauses that can be included in a memorandum. A Liability Clause specifies the extent of liability of the parties involved, a Name Clause states the name of the company, and a Situation Clause describes the registered address of the company. However, a Remuneration Clause is not typically found in a memorandum as it pertains to the payment or compensation of employees or directors, which is usually addressed in other documents such as employment contracts or board resolutions.

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59. The buy-back of equity shares in any financial year shall not exceed _____ of the aggregate paid up capital and free reserves of the company:

Explanation

The buy-back of equity shares in any financial year is restricted to a certain percentage of the aggregate paid-up capital and free reserves of the company. In this case, the correct answer is 25%. This means that a company can only buy back up to 25% of its total paid-up capital and free reserves in a financial year. This restriction is in place to ensure that companies maintain a certain level of capital and reserves for financial stability and to protect the interests of shareholders.

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60. A Preference share holder has not right to vote at a general meeting;

Explanation

Preference shareholders typically do not have the right to vote at a general meeting. However, they do have the right to vote on resolutions that directly impact the rights attached to their preference shares. This means that if there is a resolution that could potentially affect their preferential rights, they have the ability to vote on it. Additionally, preference shareholders also have the right to vote on any resolution for the winding up of the company. Therefore, the correct answer is "Yes, only on resolutions which directly affect the rights attached to his preference shares and, any resolution for the winding up."

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61. Under normal circumstances, Can an AGM be held on a National holiday?

Explanation

Under normal circumstances, an AGM (Annual General Meeting) cannot be held on a national holiday. National holidays are typically non-working days and are meant for public observance and celebration. Holding an AGM on a national holiday would likely result in low attendance and inconvenience for the participants. Therefore, it is not feasible to hold an AGM on a national holiday.

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62. Which of the following is treated as a Special Business at a general meeting?

Explanation

Shifting the registered office of a company is treated as a special business at a general meeting. This is because it involves a significant change in the company's operations and requires the approval of the shareholders. The decision to shift the registered office may have implications on the company's legal jurisdiction, tax obligations, and accessibility for stakeholders. Therefore, it is considered a special business that requires careful consideration and approval from the shareholders.

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63. An employee in the following cases is not entitled to bonus:

Explanation

In this question, the correct answer is "All of the above." This means that all the mentioned cases, including being an apprentice, being dismissed for misconduct, and working for less than 30 days in a year, result in an employee not being entitled to a bonus.

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64. An Employee is eligible for Gratuity if he has worked in an establishment for a continuous period of ______

Explanation

According to the given information, an employee is eligible for gratuity if they have worked in an establishment for a continuous period of 5 years. This means that an employee must have completed a minimum of 5 years of continuous service in the same establishment to be eligible for gratuity.

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65. Which of the following is not considered as a Deposit accepted by a Company?

Explanation

All of the options mentioned in the question are considered as deposits accepted by a company. Amounts received from other companies and any amount received from the director of the company are both considered as deposits. Therefore, the correct answer is "All of the above."

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66. The ratio of aggregate debts owned by a company after any buy-back shall not be more than:

Explanation

After a buy-back, a company's aggregate debts should not exceed twice the amount of its Capital and Free Reserves. This means that the company should not have a debt that is more than double the combined value of its Capital and Free Reserves. This limit ensures that the company maintains a reasonable level of debt in relation to its financial resources, reducing the risk of insolvency and financial instability.

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67. Which of the following statement is true?

Explanation

Ignorance of law is no excuse means that not knowing the law does not exempt someone from legal consequences. In legal systems, it is generally assumed that individuals are aware of the laws and are expected to abide by them, regardless of their knowledge or understanding. This principle ensures that people cannot claim innocence or escape liability simply because they were unaware of a particular law or regulation. It places the responsibility on individuals to educate themselves about the laws that govern their actions and behavior.

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68. A Minor can may draw, endorse and deliver a negotiable instrument so as to bind all parties except himself:

Explanation

A minor is a person who is under the legal age of adulthood. Generally, minors are not considered to have the legal capacity to enter into contracts or engage in certain financial transactions. However, there is an exception when it comes to negotiable instruments. A minor can draw, endorse, and deliver a negotiable instrument such as a check or promissory note, and it will be binding on all parties except the minor themselves. This means that the minor can hold others accountable for their obligations under the instrument, but they cannot be held personally liable for any obligations they undertake. Therefore, the answer is true.

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69. Who is empowered to make a Call on Shares

Explanation

The Board of Directors is empowered to make a call on shares. This means that they have the authority to determine when and how much money shareholders must pay for their shares. The Board of Directors is responsible for making important decisions regarding the company, including financial matters such as issuing calls on shares. They have the power to set the terms and conditions for shareholders to contribute additional funds to the company by making a call on shares.

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70. Who is empowered to make entries in Register of Charges?

Explanation

All of the above are empowered to make entries in the Register of Charges. The Register of Charges is a document that records the details of any charges or mortgages created by a company on its assets. Directors, the Secretary, and persons authorized by the Board of Directors have the authority to create and register these charges. Therefore, all of these individuals can make entries in the Register of Charges.

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71. An AGM of a company shall be held at:

Explanation

The correct answer is "Its Registered Office or any other place within the same city." According to the Companies Act, an Annual General Meeting (AGM) of a company can be held at the company's registered office or any other place within the same city where the registered office is located. This allows for flexibility in choosing a suitable venue for the AGM while ensuring that it is still within the jurisdiction of the registered office.

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72. If in a Contract both legal and illegal part exists, the legal part is separable from illegal part, then the legal part is ____

Explanation

If in a contract both legal and illegal parts exist, and the legal part is separable from the illegal part, then the legal part is considered valid. This means that even though there may be illegal elements within the contract, the legal portion can still be enforced and upheld by the court. The illegal part of the contract, however, would be unenforceable.

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73. Which of the following is not a restriction associated with a Private Company?

Explanation

A private company can have a subsidiary company, which means it can own and control another company. This is not a restriction associated with a private company. The other options mentioned, such as transfer of shares, invitation to the public, and limiting the number of members to 200, are all restrictions that are typically associated with private companies.

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74. Equity shares issued by a company to its directors or employees at a discount or for consideration, for providing their know how are called:

Explanation

Sweat equity shares are issued by a company to its directors or employees at a discount or for consideration in exchange for their know-how or expertise. This means that the recipients of these shares are contributing their skills, effort, or "sweat" to the company, rather than providing financial capital. Sweat equity shares are a way for companies to reward and incentivize their employees or directors by giving them a stake in the company's ownership and future success.

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75. What is the length of valid notice of a general meeting?

Explanation

A valid notice of a general meeting must be given at least 21 clear days in advance. This means that the notice should be sent 21 full days before the meeting, excluding the day of the notice and the day of the meeting itself. This allows sufficient time for all participants to be notified and make necessary arrangements to attend the meeting.

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76. The term Wages under Gratuity Act shall include Dearness Allowance, but shall not inlcude:

Explanation

The term "Wages" under the Gratuity Act includes Dearness Allowance but excludes Bonus, Food allowance, and House Rent Allowance. This means that while Dearness Allowance is considered as part of the employee's wages for the calculation of gratuity, the other allowances mentioned are not included. Therefore, the correct answer is "All of the above" because none of the mentioned allowances are included in the definition of wages under the Gratuity Act.

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77. A person to whom money has been paid, or anything delivered under coercion:

Explanation

When a person receives money or goods under coercion, they are not entitled to keep them. They are obligated to either repay the money or return the goods to the rightful owner. This is because the transaction was not voluntary and therefore not legally binding. The person who received the money or goods cannot benefit from the coercion and must rectify the situation by returning what was taken from them.

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78. As Per SEBI Guidelines, Every Public Company in India should be a listed Company

Explanation

According to SEBI guidelines, every public company in India should be a listed company. This means that the company's shares should be listed on a recognized stock exchange, allowing the public to buy and sell them. Being listed provides transparency and accountability to shareholders and investors, as the company is required to disclose information and comply with various regulations. Therefore, the statement "True" is the correct answer as per SEBI guidelines.

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79. Which of the following details need not be stated in a Prospectus?

Explanation

The details of company bankers need not be stated in a prospectus. While the names and addresses of directors, the dates of opening and closing of the subscription list, and the address of the company's registered office are important information that should be included in a prospectus, the details of company bankers are not typically necessary for potential investors to make an informed decision about investing in the company.

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80. The Resolution required to buy-back 18% of Capital and Free Reserves is

Explanation

A special resolution is required to buy back 18% of capital and free reserves. A buy-back of shares is a significant decision for a company, as it involves reducing the company's share capital. Special resolutions require a higher majority of votes (usually 75% or more) from shareholders to pass, indicating that this decision requires a higher level of approval and consensus among shareholders. Therefore, a special resolution is necessary for this buy-back transaction.

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81. A Company cannot utilize its securities premium towards

Explanation

A company cannot utilize its securities premium towards writing off unabsorbed loss. This is because the securities premium is a reserve created from the issue of shares at a premium, and it cannot be used for any purpose other than those specified by law. Writing off unabsorbed loss is a separate accounting treatment that requires the use of other reserves or accumulated profits. Therefore, the securities premium cannot be used for this purpose.

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82. The right to call for an Extra Ordinary General Meeting is held with shareholders holding at least

Explanation

Shareholders holding at least 1/10th of the capital have the right to call for an Extra Ordinary General Meeting. This means that if shareholders collectively own at least 1/10th of the company's capital, they can request a meeting to discuss important matters that require immediate attention. This provision ensures that shareholders have a voice in the decision-making process and can address any urgent issues that may arise.

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83. Voting through postal ballot is made mandatory for:

Explanation

Voting through postal ballot is made mandatory for all of the above options, which include alteration of objects clause, change in place of registered office, and buy-back of shares. This means that for any of these actions to be approved, shareholders must cast their votes through postal ballot.

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84. For the necessaries supplied to a minor, the amount can be recovered from___

Explanation

When necessaries are supplied to a minor, the person or entity that provided the necessaries can recover the amount owed from the minor's estate. This means that if the minor has any assets or property, the person or entity can seek payment from those assets to cover the cost of the necessaries. The minor personally may not be held liable for the debt, as they are considered legally incapable of entering into binding contracts. The minor's guardian may also not be held liable, as their role is to protect the minor's interests rather than assume financial responsibility.

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

Explanation

Pre-Incorporation Contracts refer to the contracts that are made on behalf of a prospective company before it is officially formed or incorporated. These contracts are entered into by agents or trustees who act as representatives of the future company. These agreements are binding on the company once it comes into existence. They are essential for carrying out necessary activities such as securing financing, acquiring assets, or establishing business relationships before the company is formally established.

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86. Can a company accept Calls in advance from its shareholders?

Explanation

A company can accept calls in advance from its shareholders, but only if it is authorized by its Articles of Association (AOA). The AOA is a legal document that outlines the rules and regulations governing the company, including its financial operations. If the AOA allows for the acceptance of calls in advance, then the company can do so. However, if the AOA does not authorize this, then the company cannot accept calls in advance from its shareholders.

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87. Can a company forfeit shares of its member?

Explanation

A company can forfeit shares of its member if it is authorized by the Articles of Association. The Articles of Association outline the rules and regulations of the company, including the procedures for forfeiting shares. Without the authorization from the Articles of Association, a company cannot forfeit shares of its members. Therefore, the correct answer is "Yes, only if authorized by Articles of Association."

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88. What is the default mode of voting in an annual general meeting?

Explanation

The default mode of voting in an annual general meeting is a show of hands. This means that participants physically raise their hands to indicate their vote. It is a simple and straightforward method that allows for quick and visible vote counting. However, in certain situations where a more accurate and confidential voting process is required, alternative methods such as a poll, postal ballot, or electronic voting may be used.

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89. Which of the following does not requires alteration of MOA?

Explanation

Shifting the registered office within the same city does not require alteration of the Memorandum of Association (MOA) because it does not involve any fundamental changes to the company's structure, objectives, or capital. It is simply a change in the physical location of the registered office within the same jurisdiction. Altering the MOA is typically required when there are changes to the company's objects, name, or capital, as these modifications impact the core aspects of the company's operations and legal identity.

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90. Can a person incorporate more than one OPC

Explanation

According to the Companies Act, 2013, a person can only incorporate one One Person Company (OPC). The concept of OPC is designed for individuals who want to start a company on their own without the need for any partners. Therefore, the correct answer is "No" as a person cannot incorporate more than one OPC.

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91. Can a minor become a shareholder in a company?

Explanation

A minor can become a shareholder in a company by acquiring fully paid up shares and having a beneficial interest in the company. This means that the minor must have purchased the shares with their own funds and must have a stake in the company's profits and assets. However, it is important to note that the minor's rights and responsibilities as a shareholder may be limited and subject to legal restrictions.

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92. Every employee is entitled to bonus, provided, his salary does not exceed:

Explanation

Every employee is entitled to a bonus as long as their salary does not exceed Rs.10,000 per month. This means that if an employee's salary is equal to or less than Rs.10,000 per month, they are eligible to receive a bonus. However, if their salary exceeds Rs.10,000 per month, they are not entitled to a bonus.

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93. Can a Shareholder Mortgage their Shares and take loan from the Company?

Explanation

Yes, a shareholder can mortgage their shares and take a loan from the company, but only if it is approved by the Articles of Association (AOA). The AOA is a document that outlines the rules and regulations governing the company, including any provisions related to shareholders' rights and borrowing against shares. Therefore, without the approval of the AOA, it would not be possible for a shareholder to mortgage their shares and take a loan from the company.

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94. What is the maximum rate at which a company can issue shares at premium?

Explanation

There is no specific limit on the maximum rate at which a company can issue shares at a premium. The company has the flexibility to determine the premium based on various factors such as market conditions, demand for the shares, and the company's financial performance. The absence of a specific limit allows companies to have more flexibility in setting the premium rate based on their specific circumstances and objectives.

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95. What is the Maximum discount rate at which a company can offer its shares:

Explanation

According to the regulations and guidelines set by regulatory authorities, companies are generally not allowed to issue shares at a discount. This is to ensure fair treatment of all shareholders and prevent any potential manipulation or unfair advantage for certain investors. Therefore, the correct answer is "Not allowed to issue shares at discount."

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96. Minutes book shall be prepared within ______ from the date of conclusion of general meeting:

Explanation

Minutes book shall be prepared within 30 days from the date of conclusion of general meeting. This means that the minutes of the meeting should be recorded and documented within a month after the meeting has taken place. This is important for maintaining accurate records and ensuring that decisions and discussions are properly documented for future reference. Failing to prepare the minutes within this timeframe may result in the loss or inaccuracy of important information discussed during the meeting.

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97. What is the validity of a Shelf Prospectus?

Explanation

A shelf prospectus is a type of prospectus that allows a company to offer and sell securities over a period of time, usually up to one year. During this validity period, the company can issue securities multiple times without having to file a new prospectus each time. This flexibility allows the company to respond quickly to market conditions and raise capital more efficiently. Therefore, the correct answer is 1 Year.

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

Explanation

An Associate Company is a company in which another company holds a significant ownership stake, but does not have full control over its operations. In this case, the correct answer is 20%, indicating that a company needs to hold at least 20% of the share capital of another company to be considered an associate. This threshold is important as it signifies a level of influence and control over the associate company's decision-making processes, without having complete control.

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99. The new Source of Funds through which a company can directly raise Investment from foreign Companies without the need for Public issue of shares;

Explanation

Global Depository Receipts (GDRs) are a financial instrument that allows companies to raise investment directly from foreign companies without the need for a public issue of shares. GDRs are issued by a company in one country but traded in another country's stock exchange. They represent ownership in the company's shares and are typically denominated in a foreign currency. GDRs provide an opportunity for companies to access international capital markets and attract foreign investment without going through the time-consuming and costly process of a public share offering.

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100. A _________ is an instrument of transfer signed by the transferor in which the name of the transferee and the date of the transfer are not filled.

Explanation

A blank transfer is an instrument of transfer signed by the transferor without filling in the name of the transferee and the date of the transfer. This allows the transferor to leave these details blank and fill them in at a later time when they decide to transfer the instrument to a specific transferee. This type of transfer provides flexibility and convenience for the transferor, as they can easily transfer ownership without having to immediately specify the details of the transferee and transfer date.

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101. Can a company issue Debentures carrying voting rights?

Explanation

A debenture is a type of debt instrument that a company issues to raise funds. It is essentially a loan taken by the company from the debenture holders. Debentures do not carry voting rights as they represent a creditor relationship rather than ownership in the company. Shareholders, on the other hand, are the owners of the company and have voting rights. Therefore, a company cannot issue debentures carrying voting rights.

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102. Mr.Girish draws a Bill of Exchange on Mr.Akbar, payable after two months to Mr.Thomos. Who is the Payee in this case:

Explanation

In this case, Mr. Thomos is the payee. The payee is the person or entity to whom the payment is to be made. In the given scenario, Mr. Girish draws the Bill of Exchange and makes it payable after two months to Mr. Thomos. Therefore, Mr. Thomos is the one who will receive the payment mentioned in the Bill of Exchange.

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103. An employee is entitled to bonus, provided he has worked in that establishment in an year, for not less than:

Explanation

An employee is entitled to a bonus if they have worked in the establishment for a minimum of 30 days in a year. This means that as long as the employee has worked for at least 30 days within the given year, they are eligible to receive a bonus.

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104. Gratuity shall be payable by the employer with in ______ days, from the date on which it becomes payable:

Explanation

Gratuity is a sum of money that an employer pays to an employee as a token of appreciation for their long-term service. According to the given answer, the employer is required to pay gratuity within 30 days from the date it becomes payable. This means that once an employee becomes eligible for gratuity, the employer has a maximum of 30 days to make the payment. This ensures that employees receive their gratuity in a timely manner and can use it for their financial needs.

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105. X and Y entered into a contract to supply certain goods. Later the government banned on transaction of such goods. Here the contract is-

Explanation

The contract is void because the government banned the transaction of the goods that X and Y agreed to supply. This means that the contract is no longer legally enforceable and both parties are released from their obligations under the contract.

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106. In order to be defined as a Small Company, Its paid-up share capital shall not exceed:

Explanation

In order to be defined as a Small Company, its paid-up share capital shall not exceed Fifty Lakh rupees. This means that if a company's paid-up share capital is greater than Fifty Lakh rupees, it cannot be classified as a Small Company.

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107. What is the required Quorum for the meeting if the numbers of members in the company are more than four hundred?

Explanation

The required quorum for a meeting refers to the minimum number of members that must be present in order for the meeting to be valid and decisions to be made. In this case, the correct answer is 5 members personally present. This means that out of the more than four hundred members in the company, at least 5 members must be physically present for the meeting to proceed.

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108. Members holding atleast _____ voting power can demand for a Poll

Explanation

According to the given answer, members holding at least 1/10th voting power can demand for a Poll. This means that a relatively smaller proportion of members, compared to the other options, have the authority to request a Poll.

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109. A Subsidiary company cannot hold shares in its Holding Company;

Explanation

A subsidiary company is a company that is owned or controlled by another company, known as the holding company. The purpose of a subsidiary is to operate under the control and direction of the holding company. Therefore, it would not make sense for a subsidiary company to hold shares in its own holding company, as it would create a conflict of interest and disrupt the hierarchical structure. Hence, the statement "A Subsidiary company cannot hold shares in its Holding Company" is true.

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110. Where a company completes buy-back of shares, it shall not make further issue of same class of shares in next six months. This 6 month period is general termed as:

Explanation

The correct answer is "Cooling period". When a company completes a buy-back of shares, it is not allowed to make any further issue of the same class of shares for the next six months. This period is commonly referred to as the cooling period. During this time, the company is expected to pause and allow the market to stabilize after the buy-back activity. This restriction helps prevent any potential manipulation or unfair practices in the market.

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111. If a company fails to hold its AGM with in the stipulated time, the ROC has power to grant extension for a period which cannot exceed:

Explanation

If a company fails to hold its Annual General Meeting (AGM) within the stipulated time, the Registrar of Companies (ROC) has the power to grant an extension for a period which cannot exceed 3 months. This means that if the company is unable to hold its AGM within the prescribed timeframe, it can request an extension of up to 3 months from the ROC. This allows the company additional time to organize and conduct the AGM, ensuring compliance with legal requirements.

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112. If Board of Directors fails to call for an EGM, the members can call an EGM with in:

Explanation

If the Board of Directors fails to call for an Extraordinary General Meeting (EGM), the members have the right to call for an EGM themselves. According to the given options, they can do so within 3 months. This means that if the Board of Directors does not take the initiative to call for an EGM within this time frame, the members can exercise their right and arrange for the meeting themselves.

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113. Rahul draws a bill of exchange on Suresh, payable after three months to Micheal. Who is the Payer in this case?

Explanation

In this case, Suresh is the payer. The bill of exchange drawn by Rahul is payable after three months to Micheal, which means Suresh is the one who is obligated to make the payment to Micheal after the specified time period. Therefore, Suresh is the payer in this scenario.

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114. The first AGM of a company shall be held within:

Explanation

The first AGM (Annual General Meeting) of a company should be held within 9 months from the close of the financial year. This is a legal requirement for companies to ensure that shareholders have the opportunity to review and discuss the company's financial statements and other important matters. Holding the AGM within this timeframe allows for timely reporting and transparency in the company's operations.

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115. Which of the following forms the part of salary for computing bonus payable to an employee?

Explanation

Food Allowance forms part of the salary for computing bonus payable to an employee. Bonus is typically calculated based on the salary of an employee, which includes various components such as basic salary, allowances, and other benefits. Food Allowance is one such component that is included in the salary for bonus calculation purposes.

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

Explanation

The State Bank of India is not considered a Public Financial Institution under the Companies Act, 2013. This is because the State Bank of India is a statutory corporation established under the State Bank of India Act, 1955, and not under the Companies Act. Public Financial Institutions under the Companies Act include entities like Life Insurance Corporation of India, Infrastructure Development Finance Company, and companies referred to in the UTI Act.

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117. In case a company fails to allot shared under prescribed time, the amounts shall be refunded along with an interest of

Explanation

If a company fails to allot shares within the prescribed time, they are required to refund the amounts paid by the shareholders. In this case, the refund must include an interest rate. The correct answer is 12% because it is the only option provided that represents an interest rate.

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118. Which of the following statements is false regarding a Proxy:

Explanation

A proxy is a person who is authorized to vote on behalf of another person at a meeting. They have the right to speak at the meeting and can vote on a show of hands. They are also counted for a quorum, which is the minimum number of members required to be present at a meeting in order for decisions to be valid. However, a proxy cannot vote on a poll, which is a formal voting process that allows each member to cast their vote individually.

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119. When the consent of a party is not free, the contract is:

Explanation

When the consent of a party is not free, it means that the party did not willingly and voluntarily agree to the terms of the contract. This could happen due to coercion, fraud, undue influence, or misrepresentation. In such cases, the contract is considered voidable, which means that the aggrieved party has the option to either affirm the contract or rescind it. The party whose consent was not free can choose to void the contract and be relieved of any obligations under it.

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120. Which of the following is false? An offer to be valid must

Explanation

An offer does not need to contain a term, the non-compliance of which would amount to acceptance. This means that the offeror does not need to include a specific condition or requirement that the offeree must meet in order to accept the offer. As long as the other three conditions are met - intending to create legal relations, having certain and unambiguous terms, and being communicated to the person to whom it is made - the offer is considered valid.

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121. What is the minimum amount payable by a shareholder on shares subscribed?

Explanation

The minimum amount payable by a shareholder on shares subscribed is 5%. This means that when a shareholder subscribes to shares, they are required to pay at least 5% of the total value of the shares they are subscribing to. This minimum payment ensures that shareholders have a financial stake in the company and helps to protect the interests of other shareholders.

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122. The interval between two Annual General Meetings cannot be more than:

Explanation

The correct answer is 15 months because according to corporate governance guidelines and regulations, companies are required to hold their Annual General Meetings within a certain time frame. While the exact time frame may vary depending on the jurisdiction, it is generally recommended that the interval between two AGMs should not exceed 15 months. This ensures that shareholders have regular opportunities to review the company's performance, ask questions, and exercise their voting rights. It also promotes transparency and accountability in corporate governance.

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123. What is the Minimum Subscription amount specified by SEBI for companies inviting money from Public Issue?

Explanation

SEBI, the Securities and Exchange Board of India, has specified that companies inviting money from a public issue must have a minimum subscription amount of 90%. This means that at least 90% of the total shares offered in the public issue must be subscribed to by the public. This requirement ensures that companies receive a significant amount of funding before they can proceed with their plans and helps protect investors from potential risks associated with under-subscribed issues.

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124. Can a company give its general meeting notice through electronic mail?

Explanation

A company can give its general meeting notice through electronic mail. This is because electronic mail is a commonly used and efficient method of communication in today's digital age. It allows for quick dissemination of information to shareholders and ensures that they are notified in a timely manner. Additionally, using electronic mail for general meeting notices can help reduce costs and paper waste associated with traditional mailings. However, it is important to note that certain legal requirements and regulations may need to be met, such as obtaining shareholders' approval or approval from the Registrar of Companies (ROC).

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125. What is the rate of maximum bonus payable to an employee as per the Bonus Act?

Explanation

The rate of maximum bonus payable to an employee as per the Bonus Act is 20%. This means that an employee can receive a bonus of up to 20% of their salary, subject to certain conditions and eligibility criteria mentioned in the Bonus Act.

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126. An Ultra Vires transaction can be ratified by shareholders:

Explanation

An Ultra Vires transaction refers to a transaction that is beyond the scope of a company's legal powers or authority. In this context, if such a transaction is ratified by the shareholders, it means that they approve and validate the transaction, even though it was initially outside the company's legal authority. Therefore, the statement "An Ultra Vires transaction can be ratified by shareholders" is true.

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127. What is the charging section for Dishonor of cheque, due to insufficiency of funds under NI Act 1881:

Explanation

Section 138 of the Negotiable Instruments Act, 1881, is the correct answer. This section deals with the charging section for the dishonor of a cheque due to insufficiency of funds. It states that if a cheque is presented for payment and it is returned unpaid due to the lack of sufficient funds in the account, the person who issued the cheque can be held liable and may face penalties such as imprisonment or a fine. This section provides a legal recourse for the payee to take action against the issuer of the dishonored cheque.

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128. What is the rate of Debenture Redemption Reserve to be created by every company issuing debentures?

Explanation

The rate of Debenture Redemption Reserve to be created by every company issuing debentures is 25%. This means that for every debenture issued, the company must set aside 25% of its value as a reserve to ensure that there are sufficient funds available for the redemption of the debentures at maturity. This reserve acts as a safeguard for debenture holders and helps to protect their investment.

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

Explanation

A shelf prospectus is a type of prospectus that allows a company to make multiple public issues and raise funds over a period of time. It provides flexibility to the company as it can issue securities whenever it deems appropriate, without having to go through the lengthy process of preparing a new prospectus each time. This enables the company to react quickly to market conditions and investor demand. Therefore, a shelf prospectus is the correct answer as it aligns with the description provided in the question.

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130. A company giving a shorter notice for general meeting shall take approval from shareholders. What is the majority required for doing so?

Explanation

When a company wants to give a shorter notice for a general meeting, it must obtain approval from its shareholders. The majority required for this approval is 95%. This means that at least 95% of the shareholders must agree to the shorter notice in order for it to be approved.

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131. Delivery of goods to the carrier for transmission to the buyer, may deemed the delivery made to the:

Explanation

When goods are delivered to the carrier for transmission to the buyer, it is considered as delivery made to the buyer. This means that the buyer takes ownership and responsibility for the goods once they are handed over to the carrier. The buyer becomes liable for any damages or loss that may occur during the transportation process. Therefore, the correct answer is "Buyer".

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132. Karthik is the coach of Sachin, a minor, who joined for Hockey coaching. The Fees is 10,000. The Contract is ____

Explanation

The correct answer is Quasi Contract. A quasi contract is a legal concept where a court may impose certain obligations on parties even in the absence of a formal contract. In this scenario, since Sachin is a minor and unable to enter into a legally binding contract, the coach, Karthik, may still be entitled to receive some form of compensation for his coaching services through a quasi contract. This is because the coach has provided a valuable service and it would be unjust for him to go uncompensated.

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133. Punishment for fraudulently inducing persons to invest money by making false statements in Prospectus is mentioned in:

Explanation

Section 447 of the Indian Penal Code deals with punishment for fraudulently inducing persons to invest money by making false statements in a prospectus. This section specifically addresses the act of misleading individuals through false statements in order to persuade them to invest their money. The punishment for such fraudulent activities is outlined in this section.

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134. What is the Maximum Commission payable on issue of Shares?

Explanation

The maximum commission payable on the issue of shares is 5%. This means that the company can pay a commission of up to 5% of the total value of the shares issued. This commission is typically paid to brokers or underwriters who help facilitate the sale of the shares. The 5% commission is the highest percentage allowed, meaning that the company cannot pay a commission higher than this amount.

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135. What is the required Quorum for the meeting if the numbers of members in the company are more than five thousand?

Explanation

In order to determine the required quorum for a meeting, it is necessary to consider the total number of members in the company. Since the question states that the number of members is more than five thousand, a larger quorum would be needed to ensure representation. Out of the given options, 30 members personally present would be the most appropriate quorum requirement as it allows for a reasonable percentage of the total membership to be present at the meeting.

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136. What is the required Quorum for the meeting if the numbers of members in the company are three thousand?

Explanation

In order to determine the required quorum for a meeting, it is necessary to understand the definition of quorum. Quorum refers to the minimum number of members that must be present at a meeting in order for the meeting to be valid and decisions to be made. In this case, the correct answer is 15 members personally present. This means that out of the total 3000 members in the company, at least 15 members need to be physically present at the meeting for it to be considered valid.

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

Explanation

A Red Herring Prospectus is a prospectus that does not include complete details of the quantum of price of the securities. It is used to gauge investor interest and generate buzz before the final pricing of the securities is determined. This type of prospectus includes all relevant information about the issuing company and the securities being offered, except for the final offer price. The purpose of a Red Herring Prospectus is to provide potential investors with enough information to make an informed decision while keeping the final pricing details confidential until the offering is complete.

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

Explanation

The Doctrine of Constructive Notice states that it is the outsider's responsibility to look into a company's documents before entering into any agreement. This principle implies that anyone dealing with a company is deemed to have knowledge of its public documents, such as its memorandum of association and articles of association. Therefore, individuals cannot claim ignorance of these documents and are expected to have knowledge of their contents.

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139. What is the time limit to receive minimum subscription amount from public issue?

Explanation

The time limit to receive the minimum subscription amount from a public issue is 30 days. This means that investors have a maximum of 30 days to submit the minimum required amount for the subscription of shares or securities being offered in the public issue. This time limit ensures that the company or entity issuing the securities can efficiently collect the necessary funds from investors within a reasonable timeframe.

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140. Every annual general meeting shall be called during business hours, that is, between;

Explanation

According to the given statement, every annual general meeting shall be called during business hours. The options provided are different time intervals during which the meeting can be called. The correct answer is "9 a.m. and 6 p.m" because it falls within the business hours and is the only option that satisfies the condition mentioned in the statement.

Submit
141. In ordinary circumstances, who is authorized to sign the Minutes book?

Explanation

The chairman is authorized to sign the Minutes book in ordinary circumstances. The chairman is the head of the board or committee and has the responsibility to preside over meetings and ensure that the decisions and discussions are accurately recorded in the Minutes book. As the highest-ranking official in the organization or committee, the chairman's signature holds the authority and validity of the minutes. The secretary may assist in preparing the minutes, but the final approval and signature are typically done by the chairman. The board of directors and auditor may have different roles and responsibilities, but they are not specifically authorized to sign the Minutes book.

Submit
142. Minimum Paid-up Capital to incorporate an One Person Company:

Explanation

The correct answer is Rs.1,00,000. In India, the minimum paid-up capital required to incorporate an One Person Company (OPC) is Rs.1,00,000. This means that the company must have at least Rs.1,00,000 worth of shares issued and paid for by the owner. This requirement ensures that the OPC has sufficient capital to operate and meet its financial obligations.

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

Explanation

When a company has raised money from the public through a prospectus and still has unutilized funds, the Objects Clause can only be changed through a Special Resolution passed through a Postal Ballot. This means that the shareholders of the company must agree to the change in the Objects Clause through a voting process conducted via postal ballot. This method ensures that all shareholders have an opportunity to express their opinion on the proposed change.

Submit
144. After completing buy-back, a company shall physically extinguish the shares bought back within a period of

Explanation

After completing a buy-back, a company is required to physically extinguish the shares bought back within a period of 7 days. This means that the company must cancel and eliminate these repurchased shares from its records and no longer consider them as outstanding. This short timeframe ensures that the buy-back process is efficiently concluded and prevents any confusion or potential manipulation of the company's share structure.

Submit
145. A company having a net worth of _________ can accept Deposits from persons other than its members?

Explanation

A company with a net worth of 100 Crore can accept deposits from persons other than its members. This indicates that the company has a strong financial position and is deemed capable of handling deposits from external sources.

Submit
146. Under Gratuity Act, an employee working in establishment which works only 5 days a week, is said to be continuous service of 1 year, if he has actually worked under the employer for not less than:

Explanation

According to the Gratuity Act, an employee working in an establishment that operates only 5 days a week is considered to have completed 1 year of continuous service if they have worked for a minimum of 190 days under the same employer. This means that even though the employee may not have worked for a full 365 days, they are still eligible for gratuity if they have completed at least 190 days of work.

Submit
147. A Type of Grapevine communication where a person sends the communication only to selected individuals is called _________

Explanation

A Cluster Chain is a type of Grapevine communication where a person selectively sends the communication to specific individuals. This means that the information is not spread to everyone but is instead shared within a specific group or cluster of people. This allows for more targeted and controlled communication, ensuring that only those who need to know receive the information.

Submit
148. A company shall take voting through postal ballot for:

Explanation

A company shall take voting through postal ballot for shifting its registered office. This is because shifting the registered office is a significant decision that can impact various stakeholders, including shareholders, employees, and creditors. Therefore, it is important to ensure that all shareholders have the opportunity to vote on this matter, even if they are unable to attend a physical meeting. Voting through postal ballot allows for a more inclusive and convenient way for shareholders to participate in the decision-making process.

Submit
149. Under Gratuity Act, an employee working below a mine is said to be continuous service of 1 year, if he has actually worked under the employer for not less than:

Explanation

According to the Gratuity Act, an employee working below a mine is considered to have completed one year of continuous service if they have worked for a minimum of 180 days under the same employer. This means that even if the employee has not worked for a full year, as long as they have worked for at least 180 days, they are eligible for gratuity benefits as per the act.

Submit
150. Minimum Capital to incorporate a Public Company:

Explanation

The minimum capital required to incorporate a public company is 5 lakh rupees. This means that in order to register a public company, the company must have a minimum paid-up capital of 5 lakh rupees. This requirement ensures that the company has sufficient funds to operate and meet its financial obligations. Having this minimum capital also provides a level of credibility and financial stability to the company, which is important for public investors and stakeholders.

Submit
151. The Board of Directors are required to proceed to call an EGM within ____ days from the date of receipt of requisition:

Explanation

The correct answer is 21 because according to the question, the Board of Directors are required to call an Extraordinary General Meeting (EGM) within a certain number of days from the date of receiving a requisition. Out of the given options, 21 is the only number that fits this requirement.

Submit
152. Gift from the employer to his employee for the services rendered to his establishment shall be paid in the form of:

Explanation

Gratuity is a form of gift or payment given by an employer to an employee for the services rendered to the establishment. It is usually provided as a lump sum amount and is given in recognition of the employee's long and meritorious service. Unlike provident fund or insurance, gratuity is specifically given as a gesture of appreciation from the employer to the employee. Bonus, on the other hand, is a separate form of payment that is usually based on performance or achievement of certain targets.

Submit
153. Financial Assistance given by a Company to its employees to buy shares of the Company cannot exceed;

Explanation

Financial assistance given by a company to its employees to buy shares of the company cannot exceed 6 months' salary. This means that the maximum amount of financial assistance that an employee can receive from the company to purchase shares is limited to an amount equivalent to 6 months' worth of their salary. This restriction ensures that the financial assistance provided by the company is within reasonable limits and does not create an undue burden on the company's resources.

Submit
154. A Void Contract is ___

Explanation

A Void Contract is a contract that was initially valid and enforceable, but due to certain circumstances or actions, it becomes unenforceable by law. This means that the contract loses its legal validity and cannot be enforced in a court of law. The reasons for a contract to become void can include illegality, impossibility, or a change in law that renders the contract unenforceable. Therefore, a void contract is one that ceases to be enforceable by law.

Submit
155. Who has the Suo Moto power to demand for a Poll in a general meeting?

Explanation

The Chairman has the Suo Moto power to demand for a Poll in a general meeting. This means that the Chairman has the authority to initiate a vote or poll on a particular matter without being prompted or requested by anyone else. This power is typically granted to the Chairman to ensure that important decisions are made through a fair and transparent voting process, allowing all members of the general meeting to have their say and express their opinions.

Submit
156. In order to be defined as a Small Company, Its annual turnover shall not exceed:

Explanation

A small company is defined by its annual turnover, which should not exceed Two Crore rupees. This means that if a company's annual turnover is more than Two Crore rupees, it cannot be classified as a small company.

Submit
157. 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:

Explanation

A company proposing to issue a Red Herring Prospectus is required to file it with the Registrar at least 3 days prior to the opening of the subscription list. This allows sufficient time for the Registrar to review the prospectus and ensure that it complies with all the necessary regulations and disclosures. It also provides potential investors with a reasonable amount of time to study the prospectus and make an informed decision before subscribing to the company's offerings.

Submit
158. Electronic Voting in General Meeting is made mandatory for companies having:

Explanation

Electronic voting in general meetings is made mandatory for companies with not less than one thousand members. This means that companies with a large number of members are required to use electronic voting systems to ensure a more efficient and transparent voting process. By implementing electronic voting, companies can easily collect and count votes, reducing the chances of errors or manipulation. It also allows members to participate in the voting process remotely, making it more convenient for everyone involved.

Submit
159. A Poll can be demanded by members holding atleast ________ share capital:

Explanation

According to the given information, a poll can be demanded by members holding at least 5,00,000 share capital. This means that if a member holds shares worth less than 5,00,000, they do not have the right to demand a poll. Only members with a share capital of 5,00,000 or more have the authority to request a poll.

Submit
160. A company with a turnover of ________ can accept Deposits from General Public other than its memebers;

Explanation

A company with a turnover of 500 Crore can accept deposits from the general public other than its members. This is because a higher turnover indicates a larger scale of operations and financial stability, making the company more capable of handling and returning public deposits.

Submit
161. A contracted with B to supply materials worth Rs.10,000 for interior design. The contract between A and B is _____

Explanation

The correct answer is "Contract of work & labour". This is because the contract between A and B involves the supply of materials for interior design, which indicates that it is a contract for work and labor. This type of contract typically involves the provision of services or labor in addition to the supply of materials. Therefore, the contract between A and B can be categorized as a contract of work and labor.

Submit
162. The Rate at which contribution shall be made to EPF is;

Explanation

The rate at which contribution shall be made to EPF is 10%. This means that employees are required to contribute 10% of their salary towards their EPF account. EPF, or Employee Provident Fund, is a retirement savings scheme in which both employees and employers make regular contributions. The contributions made by the employee are deducted from their salary and deposited into their EPF account, which earns interest over time. The 10% contribution rate is a standard requirement for EPF and is applicable to most employees.

Submit
163. To convert a Public Company to a Private Company, the approval has to be given by

Explanation

To convert a Public Company to a Private Company, the approval has to be given by the Tribunal. The Tribunal is a judicial body that has the authority to make decisions and provide approvals in matters related to company law. In this case, the conversion of a Public Company to a Private Company requires the approval of the Tribunal, indicating that it is the correct answer. The Central Government, Supreme Court, and ROC (Registrar of Companies) do not have the specific authority to give approval for such conversions.

Submit
164. Every buy-back shall be completed within ________ months from the date of passing the special resolution.

Explanation

The correct answer is 12 months because according to the given information, every buy-back needs to be completed within a certain timeframe from the date of passing the special resolution. In this case, the timeframe is 12 months. This means that once the special resolution is passed, the company has a maximum of 12 months to complete the buy-back process.

Submit
165. Every alteration of AOA shall be filed with the Registrar within:

Explanation

Every alteration of AOA shall be filed with the Registrar within 15 days. This means that any changes made to the Articles of Association of a company must be submitted to the Registrar within 15 days of the alteration being made. Filing these changes promptly ensures that the company's records are up to date and compliant with the regulatory requirements. Failing to file within the specified timeframe may result in penalties or legal consequences for the company.

Submit
166. A Company Promoter has Right to demand remuneration for his promotional services:

Explanation

A company promoter does not have the right to demand remuneration for his promotional services. Promoters are individuals who initiate the formation of a company and are responsible for its initial setup. They may incur expenses during the promotional stage, but they cannot demand remuneration for their services unless it is specifically stated in the Articles of Association (AOA) of the company. However, in most cases, promoters do not have the right to demand remuneration as their role is considered voluntary and part of their investment in the company's formation. Therefore, the correct answer is False.

Submit
167. A Company shall appoint a Debenture Trustee, if such debentures were being offered to more than _______

Explanation

A company shall appoint a Debenture Trustee if the debentures being offered are being offered to more than 500 members. This means that if the number of members who are being offered the debentures exceeds 500, the company is required to appoint a Debenture Trustee to safeguard the interests of the debenture holders.

Submit
168. Time limit within which Prospectus need to be issued to public after it is Registered with ROC:

Explanation

After a prospectus is registered with the Registrar of Companies (ROC), it is required to be issued to the public within 90 days. This means that the company has a maximum of 90 days to make the prospectus available to potential investors. This timeframe ensures that investors have sufficient time to review the prospectus and make informed decisions about investing in the company. It also helps maintain transparency and accountability in the process of raising funds from the public.

Submit
169. The offer of shares under Private Placement can be made maximum to

Explanation

Private Placement is a method of raising capital by offering shares to a select group of investors instead of the general public. In this case, the correct answer is 50 persons. This means that the maximum number of individuals to whom the offer of shares can be made under Private Placement is limited to 50. This restriction ensures that the offering remains exclusive and targeted towards a smaller group of investors rather than being widely available to the public.

Submit
170. Gratuity can be forfeited on a whole, if the services of an employee were terminated for any act of:

Explanation

Gratuity can be forfeited on a whole if the services of an employee were terminated for violence in the office premises. This means that if an employee engages in any act of violence while at work, their gratuity can be completely forfeited. This serves as a deterrent for employees to maintain a safe and respectful workplace environment, as any violent behavior can have serious consequences for their financial benefits.

Submit
171. To issue shares with Differential Rights, a company has to pass

Explanation

To issue shares with Differential Rights, a company needs to pass an Ordinary Resolution. This type of resolution is typically used for routine matters that require the approval of the majority of shareholders. It is a less formal and less stringent process compared to a Special Resolution, which is required for more significant decisions. Board Resolution refers to a decision made by the company's board of directors, while Unanimous Resolution implies that all shareholders must agree on the matter at hand. However, for issuing shares with Differential Rights, an Ordinary Resolution is sufficient.

Submit
172. In case a company contravenes the provisions of Private Placement of shares, the penalty payable by the Promoters is

Explanation

If a company contravenes the provisions of Private Placement of shares, the penalty payable by the Promoters is 2 Crore. This means that if the company violates the rules and regulations related to private placement of shares, the promoters of the company will be liable to pay a penalty of 2 Crore as per the law.

Submit
173. In order to issues shares at premium, a company's AOA shall authorize the same;

Explanation

The given answer "Not Correct" is incorrect because in order to issue shares at a premium, a company's Articles of Association (AOA) must authorize the same. The AOA is a legal document that outlines the rules and regulations governing the company's internal affairs, including the issuance of shares. If the AOA does not specifically authorize the issuance of shares at a premium, the company cannot legally do so. Therefore, the correct answer should be "Correct".

Submit
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Every Member of the company has a right to ask for the copies of the...
What are the grace days allowed on a negotiable instrument after the...
Which of the following is a principle of Oral Communication:
Bonus shall be paid to:
Which of the following days shall be deemed to be the working days of...
The Employee Provident Fund Scheme extends to whole of India, except...
Which of the following is the Right of a Member in a company:
The Payment of Bonus Act, 1965 does not apply to employees employed...
An employee in the following cases is entitled to bonus:
Share Capital can be altered by;
The right to receive the notice of AGM rests with:
Which of the following is treated as an Ordinary Business at a general...
Which of the following allowance forms the part of salary for...
Documents required to be filed with Registrar for Incorporating a...
Which of the following is included in the definition of Prospectus?
Securities Premium accounts may be utilized by the company towards;
What are the sources for buy-back of shares?
Which of the following is a characteristic feature of Negotiable...
The Payment of Bonus Act, 1965 shall apply to:
Under Gratuity Act, the number of days on which an employee has...
Which of the following is treated as an Ordinary Business at a general...
Under EPF Scheme, the Definition of Salary shall include:
The Central Board of Trustee under EPF Scheme shall include:
Which of the following is a type of Grapevine Communication:
Which of the following activity requires alteration of MOA?
A Cheque shall be dishonored on the basis of:
A Company can serve documents to its members through:
The Capital which is subscribed by members of a company is called:
A company may issue fully paid-up bonus shares to its members out of
Interest on Debentures is paid even if there are no profits:
A Minute book shall be maintained for:
What is the validity period of a Cheque:
In case of any misstatement in prospectus, the persons liable are:
Notice of an Annual General Meeting shall be given:
The Payment of Bonus Act, 1965 does not apply to employees employed...
Which of the following employee is not entitled to bonus?
The process of translating the message received and interpreting its...
The offer of shares to a select group of persons by a company without...
The securities premium account may be applied by the company
What is the rate of minimum bonus payable to an employee as per the...
Which of the following payments are deductible from the amount payable...
Which of the following is a Material Alteration under the NI Act,...
Minimum number of members required to form a public company:
What is the remedy for non-payment of calls or instalments of call or...
In case of illegal agreements, the collateral agreements are:
Right of lien is lost for the seller, when _____
The Provisions of 'Small Company' shall not apply to:
The Registered Office of a Company can be changed by passing:
Resolution required to alter Articles of Association of a Company:
Maximum number of Members in a Private Limited Company:
Can Central Govt give any direction to a Company to rectify its name?
A Company shall pass a _____ to issue Global Depository Receipts:
Company's Share Premium account cannot be utilized towards
In order to issue Sweat Equity Shares, a company has to pass
Merchantable Quality of goods means __
Which of the following is true relating to a proxy:
The type of Grapevine transmission where communication passes on...
Which of the following is not a Memorandum Clause?
The buy-back of equity shares in any financial year shall not exceed...
A Preference share holder has not right to vote at a general meeting;
Under normal circumstances, Can an AGM be held on a National holiday?
Which of the following is treated as a Special Business at a general...
An employee in the following cases is not entitled to bonus:
An Employee is eligible for Gratuity if he has worked in an...
Which of the following is not considered as a Deposit accepted by a...
The ratio of aggregate debts owned by a company after any buy-back...
Which of the following statement is true?
A Minor can may draw, endorse and deliver a negotiable instrument so...
Who is empowered to make a Call on Shares
Who is empowered to make entries in Register of Charges?
An AGM of a company shall be held at:
If in a Contract both legal and illegal part exists, the legal part is...
Which of the following is not a restriction associated with a Private...
Equity shares issued by a company to its directors or employees at a...
What is the length of valid notice of a general meeting?
The term Wages under Gratuity Act shall include Dearness Allowance,...
A person to whom money has been paid, or anything delivered under...
As Per SEBI Guidelines, Every Public Company in India should be a...
Which of the following details need not be stated in a Prospectus?
The Resolution required to buy-back 18% of Capital and Free Reserves...
A Company cannot utilize its securities premium towards
The right to call for an Extra Ordinary General Meeting is held with...
Voting through postal ballot is made mandatory for:
For the necessaries supplied to a minor, the amount can be recovered...
The Contracts which are entered into, by agents or trustees on behalf...
Can a company accept Calls in advance from its shareholders?
Can a company forfeit shares of its member?
What is the default mode of voting in an annual general meeting?
Which of the following does not requires alteration of MOA?
Can a person incorporate more than one OPC
Can a minor become a shareholder in a company?
Every employee is entitled to bonus, provided, his salary does not...
Can a Shareholder Mortgage their Shares and take loan from the...
What is the maximum rate at which a company can issue shares at...
What is the Maximum discount rate at which a company can offer its...
Minutes book shall be prepared within ______ from the date of...
What is the validity of a Shelf Prospectus?
Percentage of Share Capital required for a company to be called as an...
The new Source of Funds through which a company can directly raise...
A _________ is an instrument of transfer signed by the transferor in...
Can a company issue Debentures carrying voting rights?
Mr.Girish draws a Bill of Exchange on Mr.Akbar, payable after two...
An employee is entitled to bonus, provided he has worked in that...
Gratuity shall be payable by the employer with in ______ days, from...
X and Y entered into a contract to supply certain goods. Later the...
In order to be defined as a Small Company, Its paid-up share capital...
What is the required Quorum for the meeting if the numbers of members...
Members holding atleast _____ voting power can demand for a Poll
A Subsidiary company cannot hold shares in its Holding Company;
Where a company completes buy-back of shares, it shall not make...
If a company fails to hold its AGM with in the stipulated time, the...
If Board of Directors fails to call for an EGM, the members can call...
Rahul draws a bill of exchange on Suresh, payable after three months...
The first AGM of a company shall be held within:
Which of the following forms the part of salary for computing bonus...
Which of the Following is not a Public Financial Institution under the...
In case a company fails to allot shared under prescribed time, the...
Which of the following statements is false regarding a Proxy:
When the consent of a party is not free, the contract is:
Which of the following is false? An offer to be valid must
What is the minimum amount payable by a shareholder on shares...
The interval between two Annual General Meetings cannot be more than:
What is the Minimum Subscription amount specified by SEBI for...
Can a company give its general meeting notice through electronic mail?
What is the rate of maximum bonus payable to an employee as per the...
An Ultra Vires transaction can be ratified by shareholders:
What is the charging section for Dishonor of cheque, due to...
What is the rate of Debenture Redemption Reserve to be created by...
The Prospectus through which a company can make more than one Public...
A company giving a shorter notice for general meeting shall take...
Delivery of goods to the carrier for transmission to the buyer, may...
Karthik is the coach of Sachin, a minor, who joined for Hockey...
Punishment for fraudulently inducing persons to invest money by making...
What is the Maximum Commission payable on issue of Shares?
What is the required Quorum for the meeting if the numbers of members...
What is the required Quorum for the meeting if the numbers of members...
A Prospectus which does not include complete details of quantum of...
Which Principle states that it is the outsider's responsibility to...
What is the time limit to receive minimum subscription amount from...
Every annual general meeting shall be called during business hours,...
In ordinary circumstances, who is authorized to sign the Minutes book?
Minimum Paid-up Capital to incorporate an One Person Company:
Where a Company has raised money from public through prospectus and...
After completing buy-back, a company shall physically extinguish the...
A company having a net worth of _________ can accept Deposits from...
Under Gratuity Act, an employee working in establishment which works...
A Type of Grapevine communication where a person sends the...
A company shall take voting through postal ballot for:
Under Gratuity Act, an employee working below a mine is said to be...
Minimum Capital to incorporate a Public Company:
The Board of Directors are required to proceed to call an EGM within...
Gift from the employer to his employee for the services rendered to...
Financial Assistance given by a Company to its employees to buy shares...
A Void Contract is ___
Who has the Suo Moto power to demand for a Poll in a general meeting?
In order to be defined as a Small Company, Its annual turnover shall...
A Company proposing to issue a Red Herring Prospectus shall file it...
Electronic Voting in General Meeting is made mandatory for companies...
A Poll can be demanded by members holding atleast ________ share...
A company with a turnover of ________ can accept Deposits from General...
A contracted with B to supply materials worth Rs.10,000 for interior...
The Rate at which contribution shall be made to EPF is;
To convert a Public Company to a Private Company, the approval has to...
Every buy-back shall be completed within ________ months from the date...
Every alteration of AOA shall be filed with the Registrar within:
A Company Promoter has Right to demand remuneration for his...
A Company shall appoint a Debenture Trustee, if such debentures were...
Time limit within which Prospectus need to be issued to public after...
The offer of shares under Private Placement can be made maximum to
Gratuity can be forfeited on a whole, if the services of an employee...
To issue shares with Differential Rights, a company has to pass
In case a company contravenes the provisions of Private Placement of...
In order to issues shares at premium, a company's AOA shall authorize...
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