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Company Law - Questions and Answers for Competitive Exams | GkSeries

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Questions
1. What is known as a charter of a Company?
  • [A] Memorandum of Association
  • [B] Bye laws
  • [C] Articles of Association
  • [D] Prospectus

Answer: Option [A]

2. Minimum paid up capital for a public company
  • [A] 500000
  • [B] 400000
  • [C] 300000
  • [D] 200000

Answer: Option [A]

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3. The name of a company can be changed by__________.
  • [A] an ordinary resolution
  • [B] a special resolution
  • [C] the approval of the union government
  • [D] a special resolution and with the approval of the central government

Answer: Option [D]

4. The __________defines a companys relations with the outside world.
  • [A] prospectus
  • [B] memorandum of association
  • [C] articles of association .
  • [D] statement in lieu of prospectus .

Answer: Option [B]

5. The most important document of a company is its__________.
  • [A] prospectus
  • [B] annual report.
  • [C] memorandum of association
  • [D] articles of association

Answer: Option [C]

6. Mark out the type of alteration that is permitted in the articles of association____.
  • [A] that may not be in the companys interest .
  • [B] that is contrary to the provisions of the companies act.
  • [C] that increases a members liability without his written consent .
  • [D] that is consistent with the memorandum of association .

Answer: Option [D]

7. Mark out the document that need not be prepared and registered with the registrar of companies in public limited companies.
  • [A] statutory declaration
  • [B] memorandum of association .
  • [C] articles of association .
  • [D] directors undertakings to take up and pay for qualification shares

Answer: Option [C]

8. The share capital of a company may be reduced by __________.
  • [A] an ordinary resolution
  • [B] a special resolution
  • [C] a resolution of the board of directors
  • [D] obtaining permission from the company law board

Answer: Option [B]

9. The ___________ on equity shares is not cumulative.
  • [A] dividend
  • [B] profit
  • [C] loss
  • [D] reserve

Answer: Option [A]

10. The ___________ constitute the top administrative organ of the company. .
  • [A] general manager .
  • [B] shareholders.
  • [C] board of directors.
  • [D] advisory panel.

Answer: Option [C]

11. A directors election takes place in a general meeting through a separated Resolution passed by a _______ majority
  • [A] single
  • [B] two-thirds
  • [C] three-fourths.
  • [D] five-sixths .

Answer: Option [A]

12. The total managerial remuneration to the directors and the manager in respect of any financial year must not exceed _________ percent of the net profit.
  • [A] one
  • [B] three
  • [C] eleven
  • [D] ten

Answer: Option [C]

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