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. The maximum number of members in a Private Limited Company is: 50 100 150 200 None 2. Which of the following business entities has a separate legal identity? Sole Proprietorship Partnership Firm LLP Hindu Undivided Family (HUF) None 3. What is the minimum number of members required to incorporate a Public Limited Company? 1 2 3 7 None 4. A One Person Company (OPC) must have at least: 1 Director and 1 Nominee 2 Directors 2 Shareholders 3 Members None 5. The time limit for filing Form INC-20A (Declaration of Commencement of Business) is: 15 days from incorporation 30 days from incorporation 60 days from incorporation 90 days from incorporation None 6. A Public Limited Company must have at least how many directors? 1 2 3 5 None 7. Which form is used for the resignation of a director? DIR-3 DIR-7 DIR-11 DIR-12 None 8. Which of the following is a mandatory compliance for a Private Limited Company? Filing of Annual Returns (MGT-7) Holding an Annual General Meeting (AGM) Statutory Audit All of the above None 9. In case of voluntary closure of an LLP, which form must be filed with ROC? LLP Form 3 LLP Form 11 LLP Form 24 LLP Form 8 None 10. What is the maximum number of partners in an LLP? 50 100 200 No limit None 11. A Public Limited Company must have a minimum paid-up capital of: ₹1 lakh ₹10 lakh ₹15 lakh No minimum capital requirement None 12. Which of the following forms is filed for the appointment of an Auditor? AOC-4 ADT-1 INC-22 MGT-7 None 13. A company must hold its first Annual General Meeting (AGM) within: 3 months from incorporation 6 months from incorporation 9 months from the end of the financial year 12 months from the end of the financial year None 14. A Director Identification Number (DIN) is required for: Shareholders Directors Auditors Company Secretaries None 15. Under which law is a Co-operative Society registered? Companies Act, 2013 LLP Act, 2008 Indian Partnership Act, 1932 Co-operative Societies Act, 1912 None 16. Which document is NOT required for LLP registration? LLP Agreement DIN of Partners AOA & MOA PAN Card of Partners None 17. Which regulatory body governs NBFCs (Non-Banking Financial Companies) in India? SEBI MCA RBI IRDA None 18. What is the validity of a reserved company name with the ROC? 10 days 20 days 30 days 45 days None 19. The incorporation certificate of a company is issued by: SEBI RBI MCA GSTN None 20. A company can be struck off by ROC under which section of the Companies Act, 2013? Section 148 Section 248 Section 372 Section 100 None 21. Which form is filed for alteration of MOA and AOA? MGT-7 AOC-4 MGT-14 INC-20A None 22. What is the penalty for non-filing of annual returns by a company? ₹100 per day ₹1,000 per month ₹5,000 per year ₹10,000 lump sum None 23. A partnership firm is dissolved under which Act? Companies Act, 2013 LLP Act, 2008 Indian Partnership Act, 1932 Insolvency and Bankruptcy Code, 2016 None 24. Which form is filed for change in LLP Agreement? LLP Form 3 LLP Form 11 LLP Form 24 LLP Form 8 None 25. What is the minimum number of shareholders in a Private Limited Company? 1 2 3 7 None 26. Under IBC, the time limit for completion of corporate insolvency resolution process is: 90 days 180 days 270 days 330 days None 27. A Public Limited Company is required to have how many independent directors? 1 2 3 4 None 28. Which tax registration is mandatory for all businesses with turnover above ₹40 lakh (₹20 lakh for special category states)? PAN TAN GST DIN None 29. Which form is used to intimate the appointment of Key Managerial Personnel (KMP)? DIR-12 MGT-7 MR-1 INC-20 None 30. A company’s statutory audit must be conducted by a: Cost Accountant Company Secretary Chartered Accountant Management Consultant None 31. Which government portal is used for company registration in India? GST Portal SEBI Portal MCA Portal NSDL Portal None 32. The Digital Signature Certificate (DSC) is issued by: MCA ROC Certifying Authorities (CAs) RBI None 33. The full form of SPICe+ in company incorporation is: Simple Process for Incorporation of Companies Electronically Special Purpose Incorporation of Companies Electronically Simplified Proforma for Incorporating Company Electronically Plus Standard Procedure for Incorporation of Companies Electronically None 34. What is the minimum paid-up capital required for a One Person Company (OPC)? ₹50,000 ₹1 lakh ₹5 akh No minimum requirement None 35. Under which Act are the rules for Foreign Direct Investment (FDI) in India regulated? Companies Act, 2013 FEMA, 1999 SEBI Act, 1992 RBI Act, 1934 None 36. Which of the following documents is used as identity proof for company incorporation? Aadhar Card PAN Card Passport Any of the above None 37. The term "LLP Agreement" refers to: The internal governance structure of an LLP The agreement between shareholders The agreement for acquiring land for business The agreement between two companies None 38. The dissolution of an LLP is governed by: Companies Act, 2013 LLP Act, 2008 Insolvency and Bankruptcy Code, 2016 Indian Contract Act, 1872 None 39. Which of the following is NOT an advantage of a Private Limited Company? Limited liability Perpetual succession Easy transferability of shares Mandatory listing on the stock exchange None 40. A dormant company is a company that: Is newly incorporated but has not started business Is engaged in illegal business activities Has been struck off by the ROC Has failed to file GST returns 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!
