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. The primary legislation governing companies in India is: The Companies Act, 1956 The Companies Act, 2013 The SEBI Act, 1992 The Partnership Act, 1932 None 3. A special resolution is passed when it is approved by at least: 51% of members present 67% of members present 75% of members present 90% of members present None 4. A company that does not carry out any business activity for two consecutive financial years is termed as a: Defunct Company Dormant Company Private Limited Company Wound-up Company None 5. Which of the following is not a characteristic of a company? Separate Legal Entity Perpetual Succession Unlimited Liability Transferability of Shares None 6. A company is said to be an artificial legal person because: It has physical existence It is created by law and has separate legal identity It has the same rights as an individual It does not require registration None 7. Which of the following companies must appoint a Key Managerial Personnel (KMP)? A private company with a paid-up capital of ₹5 crore A listed company A partnership firm A One Person Company None 8. A private company must have a minimum of how many members? One Two Three Seven None 9. The maximum number of shareholders in a private company is: 50 100 200 300 None 10. Which of the following statements is true regarding the statutory audit of a company? It is optional for private companies It is mandatory for all companies It is required only for listed companies It is only required when a company makes a profit None 11. The maximum number of directors a company can have without seeking approval from the government is: 10 12 15 20 None 12. The primary legislation governing companies in India is: The Companies Act, 1956 The Companies Act, 2013 The SEBI Act, 1992 The Partnership Act, 1932 None 13. The Register of Members in a company is maintained at: The registered office of the company The office of the Registrar of Companies (ROC) The SEBI office The Reserve Bank of India None 14. The maximum number of directors in a public company, without special resolution, is: 10 12 15 20 None 15. The Companies Act, 2013, applies to which of the following entities? Banking Companies Insurance Companies Government Companies All of the above None 16. A company is said to be a ‘going concern’ if: It is making profits It continues to exist in the foreseeable future It does not declare bankruptcy It pays dividends regularly None 17. The term "Red Herring Prospectus" is associated with: Rights Issue Private Placement Initial Public Offering (IPO) Bonus Issue None 18. The liability of members in a company limited by guarantee is limited to: The amount they have agreed to contribute in case of winding up The amount unpaid on their shares The company’s total debt None 19. A special resolution is passed when it is approved by at least: 51% of members present 67% of members present 75% of members present 90% of members present None 20. A company must appoint an independent director if it is: A private company A listed company A foreign company A partnership firm None 21. A resolution requiring a 75% majority vote is called a: Ordinary resolution Special resolution Board resolution Unanimous resolution None 22. The maximum number of members in a private company is: 50 100 200 400 None 23. Which of the following companies is required to appoint a Company Secretary? A private company with paid-up capital of ₹5 crores A public company with paid-up capital of ₹10 crores A listed company only A partnership firm None 24. The appointment of a Managing Director in a company requires approval from: Board of Directors Shareholders at AGM Ministry of Corporate Affairs SEBI None 25. Which of the following meetings is NOT mandatory for a private company? Annual General Meeting Board Meetings Extraordinary General Meeting Statutory Meeting None 26. Which of the following is not a characteristic of a company? Separate Legal Entity Perpetual Succession Unlimited Liability Transferability of Shares None 27. The Corporate Social Responsibility (CSR) provisions apply to a company if: Its net worth is ₹500 crore or more Its turnover is ₹500 crore or more Its net profit is ₹2 crore or more Its authorized capital is ₹100 crore or None 28. The Board of Directors of a company must hold at least how many meetings in a year? 2 3 4 6 None 29. A public company must have a minimum of how many directors? One Two Three Four None 30. An independent director must not have any pecuniary relationship with: The company The company’s holding or subsidiary The promoters All of the above None 31. A company that is created for a charitable purpose is known as: Private Company Public Limited Company Section 8 Company Producer Company None 32. Which document governs the internal management of a company? Memorandum of Association Articles of Association Prospectus Financial Statements None 33. Which of the following companies must appoint a Key Managerial Personnel (KMP)? A private company with a paid-up capital of ₹5 crore A listed company A partnership firm A One Person Company None 34. The tenure of an independent director in a listed company is a maximum of: 3 years 6 years 10 years 15 years None 35. The liability of members in a One Person Company (OPC) is: Unlimited Limited to the unpaid amount of shares Limited to a fixed amount Equal to the net worth of the company None 36. The minimum number of members required to form a public company is: One Two Three Seven None 37. Which committee is responsible for implementing Corporate Social Responsibility (CSR)? Audit Committee CSR Committee Risk Management Committee Nomination and Remuneration Committee None 38. A company can issue sweat equity shares to its employees or directors after how many months from its incorporation? 3 months 6 months 9 months 12 months None 39. The Companies Act, 2013 applies to: Only private companies Only public companies All companies incorporated in India Only listed companies None 40. A listed company must have at least how many independent directors on its board? One-third of total directors One-fourth of total directors One-fifth of total directors Half of the total directors 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!
