Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Company Law Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email State 1. Which of the following is not a characteristic of a company? Separate Legal Entity Perpetual Succession Unlimited Liability Transferability of Shares None 2. A private company must have a minimum of how many members? One Two Three Seven None 3. The Companies Act, 2013, applies to which of the following entities? Banking Companies Insurance Companies Government Companies All of the above None 4. The maximum number of members in a private company is: 50 100 200 400 None 5. Which document defines the scope of operations and objectives of a company? Articles of Association Memorandum of Association Prospectus Share Certificate None 6. A public company must have a minimum of how many directors? One Two Three Four None 7. The concept of One Person Company (OPC) was introduced in which Companies Act? Companies Act, 1956 Companies Act, 2013 Companies Act, 1991 Companies Act, 2000 None 8. Which section of the Companies Act, 2013 deals with the incorporation of a company? Section 2 Section 3 Section 4 Section 5 None 9. The first meeting of the Board of Directors must be held within how many days of incorporation? 15 days 30 days 60 days 90 days None 10. Which of the following is an essential feature of a private company? No restriction on transfer of shares No minimum paid-up capital requirement No need to hold an annual general meeting No need to have directors None 11. Which type of company can issue a prospectus? Private Company Public Company One Person Company None of the above None 12. The liability of shareholders in a company limited by shares is limited to: The amount they have agreed to contribute The total assets of the company Double the face value of shares None of the above None 13. The minimum number of members required to form a public company is: One Two Three Seven None 14. The term ‘quorum’ in company law refers to: Minimum number of members required to hold a meeting Maximum number of members present in a meeting A resolution passed by a company A type of committee in a company None 15. The registered office of a company must be declared within how many days of incorporation? 7 days 15 days 30 days 60 days None 16. Which of the following is a statutory book maintained by a company? Minutes Book Shareholders' Personal Ledger Balance Sheet Tax Register None 17. A director in a company must be appointed by: The Central Government The Board of Directors Shareholders in a general meeting Any of the above None 18. The Articles of Association (AOA) primarily deal with: The internal management of the company The objectives of the company The liability of the company The rights of creditors None 19. A company is considered a separate legal entity as per which landmark case? Solomon v. Solomon & Co. Ashbury Railway Carriage & Iron Co. Ltd v. Riche Salomon v. Salomon & Co. Ltd. Foss v. Harbottle None 20. A company can change its name with the approval of: Board of Directors Central Government Shareholders by special resolution Any director of the company None 21. Which of the following is not a type of share capital? Authorized Capital Issued Capital Working Capital Subscribed Capital None 22. The statutory auditors of a company are appointed by: Board of Directors Shareholders at the AGM Company Secretary Registrar of Companies None 23. A company's Annual General Meeting (AGM) must be held within how many months of the end of the financial year? 3 months 6 months 9 months 12 months None 24. In case of default in holding an AGM, which authority has the power to call the meeting? Board of Directors Company Secretary Tribunal (NCLT) Shareholders None 25. The minimum number of directors required in a One Person Company (OPC) is: One Two Three Five None 26. A company’s prospectus must be filed with: SEBI Ministry of Corporate Affairs (MCA) Registrar of Companies (ROC) Stock Exchange None 27. The minimum paid-up capital requirement for a public company is: ₹1 Lakh ₹5 Lakhs ₹10 Lakhs No minimum requirement None 28. A company can issue shares at a discount under which condition? It is permitted under the Articles of Association SEBI grants permission Shares cannot be issued at a discount With Board approval None 29. The primary purpose of a Director’s Report is to: Disclose financial information Provide an overview of company operations Inform shareholders about future strategies All of the above None 30. The term "sweat equity shares" refers to: Shares issued for cash consideration Shares issued at a premium Shares issued to employees for their contribution contribution d) Shares None 31. The first financial year of a company can be for a period of: 6 months 9 months Maximum 15 months Maximum 18 months None 32. Which committee of the Board of Directors deals with financial reporting and audit matters? Nomination and Remuneration Committee Audit Committee Risk Management Committee Corporate Social Responsibility (CSR) Committee None 33. Which of the following is a compulsory ground for winding up a company? The company is in financial loss The company is unable to pay debts The shareholders disagree on management issues The company has no assets None 34. The maximum number of directors a private company can have is: 10 15 20 No limit None 35. A charge created by a company on its assets must be registered with the: SEBI Registrar of Companies (ROC) Reserve Bank of India (RBI) Stock Exchange None 36. A company secretary must be appointed in: All companies Only public companies with paid-up capital of ₹10 crores or more Private companies with a turnover of ₹100 crores Sole Proprietorship firms None 37. The resignation of a director becomes effective from: The date mentioned in the resignation letter The date of acceptance by the Board The date of filing with the ROC The date of intimation to shareholders None 38. A listed company must have at least what percentage of independent directors? 25% 33% 50% No mandatory requirement None 39. The maximum tenure of an independent director in a listed company is: 3 years 5 years 10 years 15 years None 40. Corporate Social Responsibility (CSR) is mandatory for companies having a net profit of at least: ₹1 crore ₹5 crore ₹10 crore ₹20 crore None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test. Look out for results and future opportunities. Stay Connected !! Your quiz time is about to finish. Few seconds left. Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
