T.Y B.COM
SEMESTER - 6
BUSINESS LAW - II
MCQS
1. Company is a/an ...........
a) Natural person
b) Artificial Person
c) Both a & b
d) None
2. Company money & property belongs to company & not ...........
a) Shareholder
b) Debtors
c) Lenders
d) Bank
3. In Private company minimum members are:
a) Two
b) Three
c) Four
d) Five
4 Minimum paid up capital in Public company.
a) 1,00,000
b) 2,00,000
c) 4,00,000
d) 5,00,000
5. Life Insurance Corporation of India established under of LIC Act 1956.
a) Section Two
b) Section Five
c) Section Three
d) Section Four
6. In "Small company" paid up share capital does not exceed to:
a) 75,00,000
b) 50,00,000
c) 35,00,000
d) 25,00,000
7. Prospectus have been defined under ............
a) Section 2 (34)
b) Section 2 (35)
c) Section 2 (36)
d) Section 2 (33)
8. East lndia company previously included in:
a) Regd. Co.
b) Chartered co.
c) Statutory Co.
d) None
9. Railway, Gas etc are classified as:
a) Regd. Co.
b) Chartered Co.
c) Statutory Co.
d) None
10. Unlimited company defined in:
a) Sec.14
b) Sec.13
c) Sec.ll
d) Sec.12
11. Private company having paid up share capital
a) 1,50,000
b) 2,00,000
c) 50,000
d) 1,00,000
12. Which company having atleast 51% of Paid up share capital is held by Central Government or State Government,
a) Government Co.
b) Subsidiary Co.
c) Holding Co.
d) All of the above
13. Minimum members in Public Co. is:
a) Seven
b) Five
c) Three
d) Two
14. Which co. do not have compulsory to hold statutory meeting with the Registrar.
a) Public Co.
b) Holding Co.
c) Private Co.
d) None
15. Which company commences business immediately after incorporation certificate.
a) Public Co.
b) Statutory
c) Private Co.
d) None
16. Public company having minimum directors.
a) Two
b) Three
c) Four
d) Five
17. How many minimum directors in Private Co.
a) Four
b) Five
c) Two
d) Three
18. Private co. has maximum numbers of members.
a) 25
b) 50
c) 75
d) 100
19. When Public company start their business
a) Incorporation certificate
b) Commencement certificate
c) Both
d) None
20. In company organization liability of shareholders are:
a) Limited
b) Unlimited
c) Moderate
d) Reasonable
21. Which Documents relates with External affairs of co.
a) AOA
b) BOD
c) MOA
d) None
22. Which is fundamental document upon which company is incorporated.
a) MOA
b) AOA
c) BOD
d) All the above
23. Which document is subordinate to memorandum of association.
a) AOA
b) BOD
c) Prospectus
d) None
24. Name the Documents contain rules & regulations of internal management.
a) Incorporation certificate
b) Prospectus
c) MOA
d) AOA
25. In case of public company how many subscribers sign the MOA?
a) Nine
b) Seven
c) Two
d) None
26. To use the word 'corporation' which is minimum authorized capital?
a) Rs.15 crores
b) Rs.5 crores
c) Rs.10 crores
d None
27. The word Hindustan, India, Bharat being first word of the name, the authorise capital of a company must be.............
a) 75 lakh
b) 100 lakh
c) 25 lakh
d) 50 lakh
28. In which alteration approval of Central Government is necessary along with special resolution.
a) Regd. Office Clause
b) Object Clause
c) Liability Clause
d) Name Clause
29. Any activity, which is not as per Object Clause is ............
a) Agency
b) Ultra Vires Act
c) Intra vires Act
d) None
30. To change capital clause which resolution is necessary
a) Government Resolution
b) Ordinary Resolution
c) Special Resolution
d) All of the above
31. Out of the following which company must have their own articles.
a) Company limited by shares or guarantee
b) Unlimited company
c) Private companies limited by shares
d) All of the above
32. If AOA not prepared then co must adopt
a Table-A in full
b) Table-B
c) Table-C
d) Table-A
33. When Public Co. is converted into private company which Approval is required.
a) State Government
b) Central Government
c) Union Territory
d) None
34. In which section prospectus have been defined
a) Sec.2 (26)
b) Sec.2 (16)
c) Sec.2 (36)
d) Sec.2 (46)
35. If prospectus is issued without Registration the co. & every person involved shall be punishable with fine which may extend to:
a) Rs.60,000
b) Rs.50,000
c) Rs.20,000
d) Rs.1 lakh
36. If there is any misstatement of a material fact in a prospectus what are following liability
a) Criminal Liability
b) Civil Liability
c) Both a& b
d) None
37. With misstatement in prospectus induces shareholder to purchase shares, he can:
a) Rescind the contract
b) Claim Damages from Co.
c) Both a & b
d) None
38. If any person fraudulently induce the person to invest money is punishable with:
a) Imprisonment which may extend to 5 years or
b) With fine extend to Rs.1,00,000
c) Both a & b
d) None
39. First Director is appointed by:
a) Prospectus
b) MOA
c) AOA
d) None
40. First Director hold the office till:
a) Conclusion of Next GM
b) Liquidation
c) Three year
d) Five year
41. Appointment of Additional Director explained under which section?
a) Sec.270
b) Sec.260
c) Sec.255
d) Sec.250
42. Government appoint a director for a period of
a) Two years
b) Ten years
c) Five years
d) Three years
43. Each directors must acquire the qualification share within a period of............. months.
a) Four
b) Three
c) Two
d) One
44. Out of the following which are the legal position of company directors.
a) Managing partners
b) Trustees
c) As an agent
d) All of the above
45. Which is the leading legal case for company organization.
a) Mohiribibi v/s Dharmodas Ghose
b) Hadleg v/s Boxandle
c) Chinnaya v/s Ramayya
d) Soloman v/s Soloman
46. if Director fails to perform Duty of Disclosure, he is punishably
a) Fine up to Rs. 500 per month
b) Fine up to Rs.500/-per day
c) Fine up to Rs.1000 per month
d) Fine up to Rs.5000 per day
47. Out of the following who cannot remove the Directors
a) Company Law Board
b) Central Government
c) Shareholders
d) BOD
48. Which power of Directors requires approval of company is Genera meeting
a) To contribute to charitable & other fund
b) To Borrow money
c) Invest the funds of company
d) Issue Debenture
49) Up to Which amount company or Board may contribute for charitable purpose in any financial year even if company is incurring a loss.
a) Rs.1,25,000
b) Rs.75,000
c) Rs.25,000
d) Rs.50,000
50. Within which period before the day of statutory meeting the BOD should send the statutory report to every member,
a) 11 days
b) 90 days
c) 21 days
d) 30 days
51. Which meeting of a company held only once in the life time of a company
a) AGM
b) Statutory meeting
c) BOD
d) None
52. The co. may hold first AGM within a period of months from the date of its incorporation
a) 15
b) 17
c) 18
d) 20
53. What is Quorum for Public Co. & any other company
a) 5,3
b) 3,5
c) 5,4
d) 5,2
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