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!
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. Which of the following is NOT a type of business entity in India? Sole Proprietorship Corporation Hindu Undivided Family (HUF) Political Party None 2. Which type of company can issue shares to the public? Private Company Public Company Partnership Firm One Person Company (OPC) None 3. What is the minimum number of members required to form a private company? 1 2 5 7 None 4. What is the maximum number of partners allowed in a Limited Liability Partnership (LLP)? 10 20 50 No limit None 5. A One Person Company (OPC) is required to convert into a private or public company if its turnover exceeds: ₹50 lakh ₹1 crore ₹2 crore ₹10 crore None 6. Which document is required for registering a private company? Partnership Deed Memorandum of Association Franchise Agreement None of the above None 7. Who is responsible for registering companies in India? SEBI RBI Registrar of Companies (ROC) NCLT None 8. Which license is required for a business dealing in food products? GST Registration MSME Registration FSSAI License IEC Code None 9. Which of the following is NOT a mandatory compliance for a private company? Annual Filing with ROC Appointment of Auditor Holding Annual General Meeting Listing on Stock Exchange None 10. The Shops and Establishments Act applies to: IT Companies only All commercial establishments Manufacturing industries only Foreign companies only None 11. Under the MSME classification, a medium enterprise is one with turnover up to: ₹10 crore ₹50 crore ₹100 crore ₹250 crore None 12. Which government initiative supports startups in India? Make in India Digital India Start-up India Atmanirbhar Bharat None 13. A business registered under the MSME Act gets benefits such as: Lower interest rates on loans Tax exemptions Government subsidies All of the above None 14. What is the validity of a Startup India recognition certificate? 2 years 5 years 10 years Lifetime None 15. Udyam Registration is required for: Private Companies MSMEs Public Sector Units Foreign Companies None 16. Which of the following taxes is NOT applicable to a partnership firm? Income Tax GST Corporate Tax TDS None 17. A company with a turnover of more than ₹40 lakh must register for: TDS EPF GST Import-Export Code None 18. Which regulatory body governs foreign investment in India? RBI SEBI IRDA NITI Aayog None 19. Which of the following is NOT a benefit of GST? Eliminates multiple taxes Increases transparency Reduces tax evasion Applicable only to large businesses None 20. Which tax is applicable on e-commerce businesses in India? Service Tax Excise Duty GST VAT None 21. Which of the following methods is NOT used to close a business? Voluntary Liquidation Merger Strike Off Revival None 22. Under which section can an LLP be struck off? Section 248 Section 75 Section 63 Section 36 None 23. Who appoints the liquidator in a voluntary winding-up process? Government ROC Company’s Shareholders SEBI None 24. The Insolvency and Bankruptcy Code (IBC) was introduced in: 2012 2014 2016 2018 None 25. What is the first step in voluntary liquidation? Filing for insolvency Conducting board resolution Selling assets Paying off employees None 26. Which of the following is NOT a mode of entry for a foreign company in India? Liaison Office Wholly Owned Subsidiary Franchise Model Private Trust None 27. A Liaison Office in India is permitted to: Undertake commercial business activities Earn income in India Act as a communication channel for the parent company Engage in manufacturing activities None 28. Which regulatory body approves Foreign Direct Investment (FDI) in India? RBI SEBI Department for Promotion of Industry and Internal Trade (DPIIT) Ministry of Finance None 29. Which sector in India is NOT allowed to receive 100% FDI under the automatic route? Manufacturing Single Brand Retail Multi Brand Retail d) IT & Software Services None 30. Which of the following is NOT an advantage of foreign companies setting up in India? Access to a large consumer market Lower labor costs No compliance with Indian laws Availability of skilled workforce None 31. Which of the following is a method of corporate restructuring? Mergers Demergers Takeovers All of the above None 32. Which regulatory body oversees mergers and acquisitions in India? SEBI RBI Competition Commission of India (CCI) IRDA None 33. The process of combining two or more companies to form a single entity is called: Demerger Amalgamation Liquidation Winding up None 34. What is the minimum paid-up capital required for a private limited company in India? ₹1 lakh ₹5 lakh ₹10 lakh No minimum capital requirement None 35. The Board of Directors of a company must have a minimum of: 1 director 2 director 3 director 5 director None 36. Which act governs the insolvency process in India? Companies Act, 2013 Insolvency and Bankruptcy Code, 2016 SEBI Act, 1992 FEMA Act, 1999 None 37. Which tribunal handles insolvency cases for companies? District Court High Court National Company Law Tribunal (NCLT) Supreme Court None 38. A business under voluntary liquidation must appoint: Company Secretary Liquidator Statutory Auditor Shareholder Representative None 39. Which section of the Companies Act, 2013 deals with the winding-up of companies? Section 396 Section 270 Section 248 Section 280 None 40. Which of the following is NOT a ground for compulsory winding-up of a company? Inability to pay debts Reduction in market share Conducting illegal business activities Special resolution passed by the company 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!
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. Which of the following business structures requires at least seven members for incorporation? Private Limited Company Public Limited Company LLP One Person Company None 2. Which of the following businesses is NOT required to register under the Shops and Establishments Act? Manufacturing units IT companies Retail shops Home-based freelancers None 3. Under which Act is a Partnership Firm registered? Companies Act, 2013 LLP Act, 2008 Indian Partnership Act, 1932 Income Tax Act, 1961 None 4. Which authority is responsible for approving the name of a new company? MCA ROC SEBI RBI None 5. Which type of company can issue shares to the public? Private Limited Company Public Limited Company LLP One Person Company None 6. The maximum number of members allowed in a Limited Liability Partnership (LLP) is: 50 100 200 No limit None 7. What is the minimum capital required to start a Section 8 company? ₹1 lakh ₹5 lakh ₹10 lakh No minimum capital requirement None 8. In case of a change in registered office address within the same city, which form must be filed with the ROC? INC-22 INC-20A AOC-4 MGT-7 None 9. Which document is NOT required for the incorporation of a Private Limited Company? PAN Card of directors Articles of Association (AOA) Memorandum of Association (MOA) Income Tax Return of directors None 10. Which form is used for appointment or resignation of a director in a company? MGT-7 DIR-12 AOC-4 INC-20 None 11. What is the minimum number of partners required to form an LLP? 1 2 5 7 None 12. The registered office of a company must be established within how many days of incorporation? 15 days 30 days 60 days 90 days None 13. Which authority regulates Foreign Direct Investment (FDI) in India? MCA RBI SEBI CBDT None 14. A One Person Company (OPC) is required to convert into a Private Limited Company if its turnover exceeds: ₹50 lakh ₹1 crore ₹2 crore ₹10 crore None 15. Which document defines the internal rules and regulations of a company? Memorandum of Association (MOA) Articles of Association (AOA) Share Certificate GST Registration None 16. What is the minimum number of directors required for a Public Limited Company? 1 2 3 5 None 17. Which Act governs the formation of a Sole Proprietorship in India? Companies Act, 2013 Indian Partnership Act, 1932 LLP Act, 2008 No specific Act None 18. Which form is used for increasing the authorized capital of a company? INC-22 SH-7 MGT-7 AOC-4 None 19. Which authority is responsible for issuing the Certificate of Incorporation for a company? SEBI MCA RBI Income Tax Department None 20. What is the maximum number of shareholders allowed in a Private Limited Company?Choose the correct sentence: 10 50 100 200 None 21. Which document acts as proof of identity for a Director? Aadhar Card PAN Card DIN (Director Identification Number) Passport None 22. Which of the following entities is NOT required to be registered with the Registrar of Companies (ROC)? LLP Public Limited Company Private Limited Company Sole Proprietorship None 23. Which form is used to obtain GST registration? GST REG-01 GST REG-05 GST REG-09 GST REG-10 None 24. A dormant company must file its financial statements in which form? MGT-7 MSC-3 AOC-4 INC-22 None 25. Which of the following is NOT an essential document for company incorporation? PAN Card of directors MOA & AOA GST Certificate Proof of Registered None 26. The primary objective of a Section 8 company is: Profit-making Charitable or not-for-profit activities Investment and trading Real estate business None 27. A company must file its financial statements within how many days of the Annual General Meeting (AGM)? 15 days 30 days 60 days 90 days None 28. In case of a voluntary strike-off, a company should not have conducted any business for at least: 3 months 6 months 1 year 2 year None 29. The term "perpetual succession" refers to: A company's indefinite existence A director’s lifetime position Automatic dissolution of a company after 50 years Ownership transfer to the government None 30. In which of the following cases is board approval required? Changing company name Appointing a company secretary Altering the registered office within the same city All of the above None 31. What is the maximum number of partners allowed in a Partnership Firm as per Companies Act, 2013? 10 20 50 No limit None 32. A company must hold its first Board Meeting within how many days of incorporation? 15 days 30 days 60 days 90 days None 33. Which entity does NOT require a Digital Signature Certificate (DSC) for registration? LLP Private Limited Company Public Limited Company Sole Proprietorship None 34. Which Act regulates the establishment of cooperative societies in India? Companies Act, 2013 Indian Partnership Act, 1932 Co-operative Societies Act, 1912 LLP Act, 2008 None 35. A resolution passed by at least 3/4th of members present at a meeting is called a: Ordinary Resolution Special Resolution Board Resolution Simple Majority None 36. Who appoints the first directors of a company? Shareholders Promoters MCA ROC None 37. The Registrar of Companies (ROC) falls under which ministry? Ministry of Finance Ministry of Commerce Ministry of Corporate Affairs Ministry of Law & Justice None 38. Which document is submitted to the ROC when a company decides to close voluntarily? STK-2 INC-22 MGT-7 SH-7 None 39. Who has the power to remove a director from a company? Shareholders through an Ordinary Resolution ROC Ministry of Finance SEBI None 40. A company’s statutory audit is conducted by: Internal Auditor Chartered Accountant Company Secretary ROC 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!
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. 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!
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 primary objective of the Companies Act, 2013? Regulating banking activities Governing the formation and operation of companies Controlling inflation Managing foreign exchange reserves None 2. Which document defines the objectives of a company? Articles of Association Memorandum of Association Shareholder Agreement Business License None 3. The statutory limit for a private limited company’s maximum number of members is: 50 100 200 500 None 4. A company that does NOT issue shares to the public is known as a: Public Limited Company Private Limited Company Listed Company Government Company None 5. A Public Limited Company must have a minimum of how many shareholders? 1 2 7 10 None 6. 46. What is the main purpose of an LLP? To ensure unlimited liability To allow easy transfer of ownership To provide limited liability to partners To function as a government entity None 7. What is the main difference between an LLP and a partnership firm? LLP has limited liability, while partnership has unlimited liability LLP requires no registration, while partnership does LLP does not allow profit sharing, while partnership does LLP has unlimited partners, while partnership is limited to 5 partners None 8. Which government body regulates LLPs in India? SEBI RBI MCA IRDAI None 9. A foreign company operating in India must comply with: SEBI Act, 1992 FEMA, 1999 Both Companies Act, 2013 and FEMA, 1999 RBI Act, 1934 None 10. What is the validity of a name approved by the Registrar of Companies for an LLP? 10 days 15 days 20 days 30 days None 11. Which of the following is NOT a mode of business closure? Voluntary winding up Compulsory winding up Strike off Corporate restructuring None 12. A company can be declared ‘dormant’ if it has been inactive for how many years? 1 year 2 year 3 year 5 year None 13. What is the first step in the voluntary winding-up process? Informing SEBI Passing a special resolution Appointing a new director Applying for GST deregistration None 14. Who appoints a liquidator in the voluntary winding-up process? The Central Government The Company’s Board of Directors The Shareholders The High Court None 15. The process of removing a company's name from the Registrar of Companies (ROC) is called: Strike Off Takeover Amalgamation Asset Reconstruction None 16. The Companies Act, 2013 allows a company to be restored after being struck off within: 1 year 5 year 3 year 2 year None 17. Which form is used to apply for striking off a company’s name? MGT-7 STK-2 AOC-4 INC-22 None 18. What is the primary advantage of converting a Private Limited Company into an LLP? Less compliance burden No taxation More government support Higher share capital requirement None 19. The Insolvency and Bankruptcy Code (IBC), 2016 governs: Incorporation of companies Business closures and liquidation Share market regulations Intellectual property rights None 20. A company undergoing voluntary liquidation must notify: The Central Government The Registrar of Companies SEBI RBI None 21. The process of merging two or more companies into one is called: Amalgamation Strike Off Liquidation Conversion None 22. Which of the following is NOT a type of business restructuring? Merger Demerger Conversion Registration None 23. The MCA portal allows companies to file compliance documents through: Physical submission only Online e-filing Verbal communication Postal mail None 24. A Public Limited Company must have a minimum of how many directors? 1 2 3 5 None 25. What is the minimum capital requirement for forming an LLP? ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 26. The legal document that governs the internal management of a company is called: Memorandum of Association Articles of Association Shareholder Agreement Board Resolution None 27. Which body is responsible for registering trademarks in India? SEBI RBI Controller General of Patents, Designs & Trademarks MCA None 28. What is the penalty for not filing annual returns for a company? ₹500 per day ₹1,000 per month ₹10,000 per year ₹100 per day None 29. Which of the following is NOT a type of closure of business? Winding up Strike off Business Restructuring Voluntary Liquidation None 30. A company's tax registration under GST is cancelled when: It voluntarily closes down It fails to file returns for 6 months It applies for strike-off All of the above None 31. What is the minimum number of partners required to form an LLP? 1 2 3 5 None 32. Which form is required for the incorporation of an LLP? SPICe+ INC-22 FiLLiP STK-2 None 33. The liability of members in a Private Limited Company is: Unlimited Limited to the amount unpaid on shares Based on personal assets Fully covered by the government None 34. Which of the following entities does NOT require mandatory registration? Sole Proprietorship Private Limited Company LLP Public Limited Company None 35. Which Act governs the registration of Partnership Firms in India? Companies Act, 2013 Partnership Act, 1932 LLP Act, 2008 SEBI Act, 1992 None 36. A company must hold its first Annual General Meeting (AGM) within how many months from incorporation? 3 months 6 months 9 months 12 months None 37. What is the minimum capital requirement for a Public Limited Company? ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 38. Which authority is responsible for issuing GST registration in India? MCA CBDT GSTN SEBI None 39. The process of converting a Private Limited Company into a Public Limited Company requires: Approval from SEBI Amendment of MOA and AOA Court order No special requirement None 40. Which document serves as proof of company incorporation? GST Certificate Certificate of Incorporation Memorandum of Understanding Business License 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!
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. Which of the following is NOT a type of business entity in India? Sole Proprietorship Limited Liability Partnership (LLP) Corporation Sole Hindu Undivided Family (HUF) None 2. Under which Act is a Private Limited Company registered in India? The Partnership Act, 1932 The Companies Act, 2013 The Limited Liability Partnership Act, 2008 The Societies Registration Act, 1860 None 3. What is the minimum number of members required to form a Private Limited Company? One Two Three Five None 4. Which of the following is an example of a business structure with unlimited liability? Private Limited Company LLP Sole Proprietorship One Person Company None 5. What is the maximum number of members allowed in a Private Limited Company? 50 100 200 Unlimited None 6. Which business structure requires a minimum of seven members for incorporation? LLP Private Limited Company Public Limited Company Sole Proprietorship None 7. Under which Act is an LLP registered? Companies Act, 2013 Partnership Act, 1932 LLP Act, 2008 Societies Registration Act, 1860 None 8. Which of the following is NOT a characteristic of a One Person Company (OPC)? It has a single shareholder It is a type of private company It requires a minimum of two directors It must nominate a nominee director None 9. In which of the following cases is an entity required to register under GST? Annual turnover exceeds ₹40 lakh (₹20 lakh for special category states) Annual turnover is ₹5 lakh Business operates only in a single state Business does not supply goods or services None 10. What is the minimum capital requirement for forming a Private Limited Company in India? ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 11. The concept of Limited Liability means: Shareholders are liable for debts of the company Shareholders’ liability is limited to their shareholding Directors are personally responsible for company debts None of the above None 12. A Public Limited Company must have a minimum of how many directors? 1 2 3 5 None 13. Which of the following entities is NOT required to be registered under the Companies Act, 2013? Private Limited Company Public Limited Company Hindu Undivided Family (HUF) One Person Company None 14. What is the maximum number of partners allowed in a Limited Liability Partnership (LLP)? 10 20 50 No limit None 15. The process of closing down a company is called: Registration Liquidation Amalgamation Incorporation None 16. A foreign company setting up business in India must comply with which Act? FEMA Act, 1999 Companies Act, 2013 SEBI Act, 1992 Both a and b None 17. The liability of a partner in a partnership firm is: Limited Unlimited Limited to their share capital Zero None 18. The governing body for Companies in India is: SEBI RBI Ministry of Corporate Affairs (MCA) CBDT None 19. A company formed for charitable purposes is registered under: Section 2(68) of the Companies Act Section 8 of the Companies Act Section 10 of the Companies Act Section 12 of the Companies Act None 20. The Digital Signature Certificate (DSC) is mandatory for: Sole Proprietorship Partnership Firm Company Incorporation None of the above None 21. The term ‘MOA’ in company law refers to: Memorandum of Agreement Memorandum of Association Membership of Association Management of Assets None 22. The ‘Articles of Association’ (AOA) defines: The company’s objectives The internal management rules of the company The company’s shareholding pattern The roles of auditors None 23. Which of the following business entities can be registered under the Startup India scheme? Sole Proprietorship Public Limited Company Private Limited Company Both b and None 24. Which of the following licenses is mandatory for businesses involved in the food industry? FSSAI License GST Registration Import Export Code (IEC) Professional Tax Registration None 25. What is the minimum paid-up capital required to start a Public Limited Company? ₹5 lakh ₹10 lakh ₹50 lakh No minimum requirement None 26. Which government portal is used for company incorporation in India? GSTN Portal MCA Portal NSDL Portal RBI Portal None 27. Which of the following is NOT a document required for company incorporation? Memorandum of Association (MOA) Articles of Association (AOA) GST Registration Certificate Declaration by directors None 28. Which form is used to apply for Director Identification Number (DIN)? SPICe+ DIR-3 INC-22 AOC-4 None 29. What is the maximum number of directors allowed in a private limited company without special resolution? 10 15 20 50 None 30. Which tax is NOT applicable to a sole proprietorship business? Income Tax GST Corporate Tax Professional Tax None 31. A company that does not issue a prospectus to the public is called a: Public Limited Company Private Limited Company Listed Company Government Company None 32. The term ‘authorized capital’ refers to: The maximum capital a company can raise The total capital invested by shareholders The profit earned by the company The minimum capital required to start a business None 33. A Section 8 company is primarily established for: Commercial activities Profit maximization Charitable and social activities Export and import business None 34. A dormant company is one that: Has ceased operations for a long period for a long period Is actively engaged in business Is registered outside India None 35. The SPICe+ form is used for: GST Registration Trademark Registration Company Incorporation FDI Approval None 36. Under the Companies Act, 2013, a Director must obtain a DIN from: SEBI Ministry of Corporate Affairs (MCA) Income Tax Department Reserve Bank of India None 37. A business operating in multiple states must register for GST under: A single GST registration Multiple state-wise registrations No GST registration required Only one central GST registration None 38. The process of removing a company's name from the register of companies is called: Dissolution Strike off Winding up Liquidation None 39. What is the validity period of a name approved by the Registrar of Companies (ROC)? 10 days 20 days 30 days 60 days None 40. Which form is used for winding up a company voluntarily? INC-22 STK-2 MGT-7 AOC-4 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 !! 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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 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 2. 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 3. A resolution requiring a 75% majority vote is called a: Ordinary resolution Special resolution Board resolution Unanimous resolution None 4. A charge created on a company’s assets must be registered with the ROC within: 15 days 30 days 60 days 90 days None 5. The Board of Directors of a company must hold at least how many meetings in a year? 2 3 4 6 None 6. 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 7. A company's Articles of Association can be altered by: An ordinary resolution A special resolution Board approval only Approval from SEBI None 8. The tenure of an auditor in a listed company is a maximum of: 3 years 5 years 7 years 10 years None 9. A dividend declared but not paid within how many days is considered unpaid? 30 days 60 days 90 days 120 days None 10. The minimum number of members required to form a private company is: 1 2 3 5 None 11. A company must file its annual financial statements with the ROC within: 30 days of the AGM 60 days of the AGM 90 days of the AGM 120 days of the AGM None 12. The quorum required for a general meeting of a private company with 50 members is: 2 members 3 members 5 members 7 members None 13. A company must keep its books of account for a minimum period of: 5 years 7 years 8 years 10 years None 14. A resolution passed by circulation among directors is called: Special resolution Unanimous resolution Circular resolution Board resolution None 15. Which of the following is NOT an essential document for company incorporation? Memorandum of Association Articles of Association PAN card of directors Share certificate None 16. A listed company must appoint a woman director if its: Paid-up capital is ₹5 crore or more Turnover is ₹100 crore or more Net worth is ₹50 crore or more Annual profit is ₹10 crore or more None 17. The maximum limit of managerial remuneration for a company is: 5% of net profits 15% of net profits 10% of net profits 20% of net profits None 18. Which company must appoint a full-time Company Secretary? A private company with ₹10 crore turnover A public company with ₹10 crore paid-up capital Any company with more than 50 employees Any company with a net profit of ₹1 crore None 19. The maximum time gap between two Board Meetings must not exceed: 90 days 120 days 150 days 180 days None 20. The National Financial Reporting Authority (NFRA) is responsible for: Regulating stock exchanges Overseeing financial reporting and auditing standards and auditing standards c) Regulating Approving mergers and acquisitions None 21. A private company can accept deposits from its members up to: 25% of net worth 35% of net worth 100% of net worth Unlimited None 22. Which of the following statements is true about a Holding Company? It owns a majority of the shares in another company It must be registered as a public company It cannot own subsidiaries It must have a minimum of 10 directors None 23. A foreign company is defined under the Companies Act, 2013 as a company incorporated outside India that: Only sells products in India Has an office or business operations in India Has Indian directors Is registered with SEBI None 24. The penalty for insider trading under the Companies Act, 2013 includes imprisonment for up to: 2 years 5 years 7 years 10 years None 25. An independent director is required to hold at least how many shares in the company? 1 share 10 share 100 share No requirement to hold shares None 26. In which of the following cases can a company be struck off by the ROC? Failure to commence business within 1 year of incorporation Not holding a Board Meeting for 3 years Not appointing a Company Secretary Not issuing dividends None 27. The primary purpose of a Director’s Report is to: Summarize financial transactions Provide an overview of company performance and compliance Approve the budget for the next year Report on stock market fluctuations None 28. The minimum number of directors required in a public company is: 1 2 3 5 None 29. A company must appoint its first auditor within how many days of incorporation? 30 days 60 days 90 days 120 days None 30. Which of the following is NOT a document required for company registration? Memorandum of Association Articles of Association Business Plan Declaration by Directors None 31. A public company must hold its Annual General 3 months 6 months 9 months 12 months None 32. The penalty for failing to file the annual return of a company can include: Only a monetary fine Fine and imprisonment of directors Cancellation of shares Deregistration of the company None 33. A statutory meeting is required to be held by: Private companies Public limited companies One Person Companies Non-Profit Organizations None 34. The Director Identification Number (DIN) is issued by: SEBI RBI Ministry of Corporate Affairs (MCA) The Income Tax Department None 35. The process of converting a private company into a public company requires: Board approval only A special resolution and ROC approval SEBI’s permission NCLT’s approval None 36. A company must inform the ROC about the appointment of a new director within: 7 days 15 days 30 days 60 days None 37. The minimum paid-up capital for a public company under the Companies Act, 2013 is: ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 38. A company incorporated outside India but conducting business in India is called a: Domestic company Foreign company Government company Private company None 39. Which of the following is NOT a role of a Company Secretary? Ensuring regulatory compliance Managing financial investments Maintaining statutory records Advising the board on governance matters None 40. 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 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!
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. 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 2. The maximum number of directors in a public company, without special resolution, is: 10 12 15 20 None 3. A company must appoint an independent director if it is: A private company A listed company A foreign company A partnership firm None 4. Which document defines the scope and powers of a company? Articles of Association Memorandum of Association Share Certificate Director’s Report None 5. 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 6. The tenure of an independent director in a listed company is a maximum of: 3 years 6 years 10 years 15 years None 7. A company secretary must be appointed if the company has a paid-up capital of at least: ₹5 crore ₹25 crore ₹10 crore ₹15 crore None 8. The minimum number of members required to form a public company is: 2 3 5 7 None 9. The minimum number of directors required for a private company is: 1 2 3 5 None 10. A company's financial statements must be approved by: The auditor The shareholders The government The Board of Directors None 11. A person cannot be appointed as an auditor if he: Holds a government position Holds shares in the company Is a qualified CA but not in practice Is an independent director of the company None 12. The main purpose of an Extraordinary General Meeting (EGM) is to: Approve financial statements Discuss urgent matters requiring shareholder approval Appoint new employees Review stock market performance None 13. A company limited by shares can increase its authorized share capital by: A board resolution A special resolution An ordinary resolution Approval from SEBI None 14. The minimum subscription amount must be collected within: 30 days of issue 60 days of issue 90 days of issue 120 days of issue None 15. The quorum for a Board Meeting in a company with 8 directors is: 2 directors 3 directors 4 directors 5 directors None 16. If a company fails to hold an Annual General Meeting (AGM), it is liable for: A fine up to ₹1 lakh A fine up to ₹10 lakh A fine up to ₹5 lakh and imprisonment No penalty None 17. Which of the following can be used to remove a director before the end of their tenure? Board resolution Ordinary resolution Special resolution Approval from SEBI None 18. The liability of a shareholder in a company limited by guarantee is: Unlimited Limited to the unpaid amount of shares Limited to the amount guaranteed Equal to the company’s net worth None 19. The penalty for a company failing to file its annual return is: ₹10,000 per day ₹1 lakh ₹5 lakh ₹10 lakh None 20. A person is disqualified from being appointed as a director if he: Is a shareholder of the company Is below 21 years of age Is convicted of an offense involving fraud Is a partner in another company None 21. The appointment of an auditor in a company is made by: Board of Directors Shareholders at the AGM SEBI Company Secretary None 22. A company can issue sweat equity shares to: Promoters only Employees only Both promoters and Employees Government officials None 23. The maximum period for which a company can issue debentures is: 5 years 10 years 20 years 30 years None 24. The first Board Meeting of a newly incorporated company must be held within: 30 days 60 days 90 days 120 days None 25. Which document is sent to invite the public to subscribe to shares? Memorandum of Association Articles of Association Prospectus Directors' Report None 26. Which body governs listed companies in India? Ministry of Corporate Affairs SEBI RBI NCLT None 27. A company may be wound up voluntarily if: Shareholders pass a special resolution The government orders it The directors resign The company fails to hold a Board Meeting None 28. A statutory meeting must be held by: Private companies only Public companies only Listed companies only Government companies only None 29. A company is compulsorily wound up if: It fails to pay debts exceeding ₹1 crore It changes its business model It declares higher dividends It fails to pay employee salaries None 30. A debenture is a: Share Loan instrument Reserve fund Profit distribution None 31. The maximum number of shareholders in a private company is: 50 100 200 Unlimited None 32. A person appointed to oversee the liquidation process of a company is called a: Company Secretary Auditor Liquidator Promoter None 33. The National Company Law Tribunal (NCLT) has jurisdiction over: Only listed companies Only government companies Company law matters, insolvency, and oppression cases Tax-related matters None 34. The share capital of a company can be reduced by: Passing an ordinary resolution Passing a special resolution and getting NCLT approval Approval from SEBI only Approval from the Central Government None 35. Which of the following is NOT a mode of winding up a company? Voluntary Winding Up Compulsory Winding Up Statutory Winding Up Tribunal Ordered Winding Up None 36. In the case of oppression and mismanagement, an application can be made to: SEBI NCLT RBI Ministry of Corporate Affairs None 37. The issue of shares at a price lower than their nominal value is called: Share Discount Underpricing Issuance at Premium Issuance at a Discount None 38. A company's director can be disqualified under Section 164 if: The company has failed to file financial statements for 3 consecutive years The director is a shareholder of another company The director has served for more than 5 years The director is a promoter of the company None 39. The statutory audit of a company is conducted by: Internal auditors The Board of Directors An independent external auditor The Registrar of Companies None 40. The minimum paid-up capital required to start a private company under the Companies Act, 2013 is: ₹1 lakh ₹5 lakh ₹10 lakh No minimum 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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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!
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. The minimum paid-up capital required to form a private company is: ₹1 lakh ₹2 lakh ₹5 lakh No minimum requirement None 2. A company’s Articles of Association can be altered by passing: An Ordinary Resolution A Special Resolution A Board Resolution A Resolution with Special Notice None 3. 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 4. 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 5. The main purpose of the Memorandum of Association is to: Define the company's internal rules Regulate meetings and voting rights Define the company's objectives and scope Outline the shareholding pattern None 6. The liability of a shareholder in a company limited by shares is: Unlimited Limited to the amount unpaid on shares Limited to the company’s total debt Equal to the company’s net assets None 7. A company must appoint its first statutory auditor within: 30 days of incorporation 40 days of incorporation 60 days of incorporation 120 days of incorporation None 8. The penalty for failing to appoint a Company Secretary in a listed company is: ₹10,000 per day ₹50,000 per day ₹1,00,000 fixed penalty ₹5,00,000 fixed penalty None 9. A company's Annual Return must be signed by: Only the Company Secretary Only the Managing Director The Company Secretary and one director The CEO and CFO None 10. The National Financial Reporting Authority (NFRA) is responsible for: Regulating accounting and auditing standards Approving corporate mergers Monitoring foreign investments Overseeing the Registrar of Companies None 11. The maximum gap allowed between two consecutive Board Meetings is: 60 days 90 days 120 days 180 days None 12. Which of the following companies is NOT required to hold an Annual General Meeting (AGM)? Private Company Public Company One Person Company Listed Company None 13. A person cannot serve as a director in more than how many public companies? 10 15 20 25 None 14. The quorum for a Board Meeting in a company with more than 10 directors is: 2 directors 3 directors 4 directors 5 directors None 15. The Companies Act, 2013 classifies a "Small Company" based on: Turnover and employee size Net profit and reserves Paid-up capital and turnover Market share None 16. Who is responsible for preparing the minutes of a Board Meeting? The Company Secretary The Chief Financial Officer The Chairman The Statutory Auditor None 17. Which of the following transactions does NOT require shareholder approval? Issue of Bonus Shares Appointment of a Director Sale of substantial assets Amendment of Articles of Association None 18. The penalty for failing to file the Financial Statements with the ROC is: ₹1,000 per day ₹10,000 per day ₹50,000 per day ₹1,00,000 fixed penalty None 19. Which of the following is NOT a mode of winding up a company? Voluntary Winding Up Compulsory Winding Up Winding Up by Creditors Automatic Winding Up None 20. The tenure of an independent director in a company is limited to: 3 years 5 years 10 years 15 years None 21. Who has the power to investigate the affairs of a company in case of fraud? SEBI Ministry of Corporate Affairs Serious Fraud Investigation Office (SFIO) Income Tax Department None 22. A company must maintain statutory books such as: Register of Members Register of Charges Minutes Book All of the above None 23. The concept of "Ultra Vires" means: A company’s act beyond its legal power The authority of shareholders Approval of the Board of Directorsc) Approval Investment in foreign subsidiaries None 24. The minimum subscription required for a public issue of shares 25% of the issue size 50% of the issue size 90% of the issue size 75% of the issue size None 25. Who has the authority to appoint an additional director? Board of Directors Shareholders in a General Meeting Ministry of Corporate Affairs Registrar of Companies None 26. The limit for loans and investments by a company without shareholders' approval is: 50% of net worth 60% of net worth 75% of net worth 100% of net worth None 27. A company can issue shares at a discount under: Rights Issue Public Issue Private Placement Sweat Equity None 28. The Director’s Report must include: Financial Performance Dividend Declaration Corporate Social Responsibility details All of the above None 29. The Companies Act, 2013 mandates rotation of auditors for listed companies after: 3 years 5 years 10 years 15 years None 30. The power to strike off a company from the Register of Companies lies with: National Company Law Tribunal (NCLT) Registrar of Companies (ROC) Ministry of Corporate Affairs (MCA) SEBI None 31. Which of the following is NOT a characteristic of a company? Perpetual succession Unlimited liability Separate legal entity Transferability of shares None 32. The time limit for filing a special resolution with the ROC is: 7 days 15 days 30 days 60 days None 33. The maximum number of shareholders allowed in a private company is: 50 100 200 Unlimited None 34. The quorum required for a General Meeting of a public company with more than 5,000 members is: 10 members 20 members 30 members 40 members None 35. The minimum percentage of shareholder votes required to pass a Special Resolution is: 51% 66% 75% 90% None 36. The Articles of Association primarily regulate: The external affairs of the company The relationship between the company and its directors The internal management and governance of the company The rights of creditors None 37. The removal of a company’s name from the Register of Companies is known as: Liquidation Dissolution Strike Off Compulsory Winding Up None 38. The minimum paid-up capital requirement for a One Person Company (OPC) is: ₹50,000 ₹1,00,000 ₹5,00,000 No minimum requirement None 39. Who among the following is NOT disqualified from being appointed as a director? An undischarged insolvent A person convicted of an offense involving moral turpitude A person of unsound mind declared by a court A person who has never been a shareholder None 40. The maximum tenure of a Managing Director in a public company without reappointment is: 3 years 5 years 10 years 15 years 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!
