Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Setting up of Business Entities and Closure 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. What is the minimum number of members required to incorporate a One Person Company (OPC)? 1 2 3 5 None 2. In an LLP, who is responsible for compliance and regulatory requirements? All partners equally The Designated Partners The Government of India The ROC (Registrar of Companies) None 3. Which form is used for changing the registered office address of a company? INC-20A INC-22 SPICe+ AOC-4 None 4. What is the maximum number of partners allowed in an LLP? 10 20 50 No limit None 5. Which of the following entities is NOT governed by the Companies Act, 2013? Private Limited Company Public Limited Company Sole Proprietorship One Person Company None 6. Which form is required for appointment or resignation of a Director in a company? DIR-3 DIR-12 DIR-22 AOC-4 None 7. A Private Limited Company must have at least how many directors? 1 2 3 5 None 8. 88. In case of voluntary liquidation, who is responsible for submitting the final report to ROC? Shareholders Company Auditor Liquidator Board of Directors None 9. What is the mandatory requirement for winding up an LLP? Consent of all partners Minimum ₹1 lakh debt Special approval from SEBI Minimum of 10 years of operation None 10. Under the Companies Act, 2013, an auditor is appointed for how many years in a listed company? 3 years 5 years 7 years 10 years None 11. What is the penalty for not maintaining statutory records in a company? ₹10,00 ₹25,000 ₹50,000 ₹1,00,000 None 12. What is the validity of a Digital Signature Certificate (DSC) used for company incorporation? 1 year 2 years 3 years 5 years None 13. What is the minimum paid-up capital required for starting an LLP? ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 14. In which form does a company file its annual financial statements with ROC? a) INC-22 AOC-4 MGT-7 DIR-3 None 15. What is the tenure of an Independent Director in a listed company? 2 years 7 years 5 years 3 years None 16. What is the time limit for filing an appeal against a company’s strike-off? 3 months 6 months 1 year 3 years None 17. Under which section of the Companies Act, 2013, can a company be struck off? Section 248 Section 133 Section 180 Section 375 None 18. Which regulatory body governs foreign investments in India? SEBI RBI MCA CBDT None 19. What is the maximum number of directors allowed in a Private Limited Company before requiring a special resolution? 10 15 20 50 None 20. What is the minimum amount required for foreign direct investment (FDI) in an LLP? No minimum amount ₹10 lakh ₹50 lakh ₹1 crore None 21. The minimum paid-up capital for a Private Limited Company under Companies Act, 2013 is: ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 22. Which form is used for filing annual returns of a company? AOC-4 MGT-7 INC-22 DIR-12 None 23. A company is required to maintain records of minutes of meetings for at least: 5 years 8 years 10 years Permanently None 24. The Director Identification Number (DIN) is issued by: MCA SEBI RBI CBDT None 25. Which document is mandatory for opening a bank account for an LLP? GST Registration Certificate LLP Agreement Share Certificate MOA & AOA None 26. Which authority grants permission for the closure of a foreign company in India? SEBI RBI MCA Income Tax Department None 27. What is the time limit for a company to commence business after incorporation? 30 days 60 days 90 days 120 days None 28. What is the validity of a name reserved for a new company by the Registrar of Companies (ROC)? 10 days 20 days 30 days 45 days None 29. What is the maximum time allowed for filing Form STK-2 for voluntary strike-off of a company? 1 year 2 year 3 year 5 year None 30. In which of the following business structures is audit NOT mandatory? Private Limited Company Public Limited Company LLP (with turnover lessthan ₹40 lakh) One Person Company None 31. What is the penalty for late filing of financial statements under AOC-4? ₹100 per day ₹500 per month ₹1,000 per day ₹10,000 per year None 32. Which type of business entity does NOT have a separate legal identity? Private Limited Company LLP Sole Proprietorship Public Limited Company None 33. Which section of the Companies Act, 2013 deals with strike-off of companies? Section 180 Section 188 Section 248 Section 372 None 34. Which form is filed to inform ROC about the voluntary liquidation of a company? MGT-7 INC-22 STK-2 GNL-2 None 35. Which entity is required to file Form DIR-3 KYC annually? Company Secretary Shareholders Directors ROC officials None 36. Under the Insolvency and Bankruptcy Code (IBC), 2016, the maximum resolution period for a company undergoing insolvency is: 90 days 180 days 270 days 330 days None 37. The PAN (Permanent Account Number) is issued by which government department? SEBI MCA CBDT GSTN None 38. A dormant company must file which form annually with ROC? MGT-7 MSC-3 AOC-4 INC-22 None 39. A company must register under Shops and Establishments Act if: It has more than 2 employees It has more than 5 employees It has more than 10 employees It engages in commercial activities None 40. What is the minimum capital required to start a Section 8 company? ₹1 lakh ₹5 lakh ₹10 lakh No minimum capital requirement 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. 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