Q.1. _____ is a voluntary association of persons formed to carry on some business for profit or to promote art, science, education or some charitable purpose.
- Incorporation
- Private company
- Company
- Public company
Answer: (C) Company
Q.2. Accounts of a company must be audited by an ______.
- Chartered Accountant
- Auditor
- Board of Directors
- All of these.
Answer: (B) Auditor
Q.3. A public company has been defined in sec _______
- 3(1)(iv)
- 3(1)(i)
- 3(1)(iii)
- 3(1)(ii)
Answer: (A) 3(1)(iv)
Q.4. The shorter versions of a prospectus is also known as _______
- Deemed prospectus
- Incomplete prospectus
- Abridged prospectus
- Red Herring Prospectus
Answer: (C) Abridged prospectus
Q.5. The articles of Association and the memorandum of Association are drafted by ______
- Auditor
- Director
- Secretary
- Register
Answer: (C) Secretary
Q.6. The board of directors delegate the power to _____
- Issue debentures
- Issue of shares
- Invest the fund
- Make loans
Answer: (D) Make loans
Q.7. Holding company is defined in section _____ of the companies Act.
- 4(4)
- 2(2)
- 3(4)
- 3(1)
Answer: (A) 4(4)
Q.8. The other name of indoor management is called _____
- Golden rule
- Constructive notice
- Indoor rule
- Tarquand rule
Answer: (D) Tarquand rule
Q.9. The statement in lieu of prospectus is drafted in accordance with the particulars set in part I of the _____ the Act
- Schedule I
- Schedule IV
- Schedule III
- Schedule II
Answer: (D) Schedule II
Q.10. The right given to a particular class of shareholders are called the ____
- Special rights
- General rights
- Class right
- None of the above
Answer: (D) None of the above