Business Law
221. ______________ 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
Correct answer: (C)
Company
222. Accounts of a company must be audited by an ______________
- Chartered Accountant
- Auditor
- Board of Directors
- All of these.
Correct answer: (B)
Auditor
223. A public company has been defined in sec ______________
- 3(1)(iv)
- 3(1)(i)
- 3(1)(iii)
- 3(1)(ii)
Correct answer: (A)
3(1)(iv)
224. The shorter versions of a prospectus is also known as ______________
- Deemed prospectus
- Incomplete prospectus
- Abridged prospectus
- Red Herring Prospectus
Correct answer: (C)
Abridged prospectus
225. The articles of Association and the memorandum of Association are drafted by ______________
- Auditor
- Director
- Secretary
- Register
Correct answer: (C)
Secretary
226. The board of directors delegate the power to ______________
- Issue debentures
- Issue of shares
- Invest the fund
- Make loans
Correct answer: (D)
Make loans
227. Holding company is defined in section ______________ of the companies Act.
- 4(4)
- 2(2)
- 3(4)
- 3(1)
Correct answer: (A)
4(4)
228. The other name of indoor management is called ______________
- Golden rule
- Constructive notice
- Indoor rule
- Tarquand rule
Correct answer: (D)
Tarquand rule
229. 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
Correct answer: (D)
Schedule II
230. The right given to a particular class of shareholders are called the ______________
- Special rights
- General rights
- Class right
- None of the above
Correct answer: (D)
None of the above
Saturday, January 8, 2022