Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Corporate and Other LawsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. A company formed for charitable purposes under Section 8 of the Companies Act, 2013 is prohibited from: Accepting donations Paying remuneration to directors Declaring dividends o Holding a general meeting None 2. Which of the following is mandatory for a private company? Appointment of independent directors Holding an annual general meeting Restriction on transfer of shares Issuance of a prospectus None 3. Memorandum of Association must be signed by: The directors of the company Subscribers in the presence of a witness Company secretary Bank officials None 4. The Articles of Association of a company can be altered by: Special resolution Ordinary resolution Approval from ROC Approval from the Tribunal None 5. Which of the following documents is not mandatory to be filed with the Registrar for incorporation of a company? Declaration of compliance Articles of Association Memorandum of Association Share certificate None 6. Sweat equity shares are issued to: Employees or directors at a discount Public at a premium Banks for raising loans Existing shareholders only None 7. Which of the following cannot be issued by a company as per the Companies Act, 2013? Equity shares with differential rights Preference shares Redeemable debentures Irredeemable preference shares None 8. Preference shares must be redeemed within: 5 years 10 years 20 years 30 years None 9. A company can issue debentures with voting rights: Yes, under specific circumstances No, debentures cannot have voting rights Only convertible debentures have voting rights Debentures issued to promoters may have voting rights None 10. Buyback of shares cannot exceed: 10% of paid-up capital 25% of paid-up capital and free reserves 50% of free reserves No limit None 11. A public company cannot accept deposits from its members exceeding: 15% of paid-up capital and free reserves 25% of paid-up capital and free reserves 35% of paid-up capital and free reserves 50% of paid-up capital and free reserves None 12. Which of the following is not considered as a deposit under the Companies Act, 2013? Loan from a director Fixed deposit from a bank Unsecured debentures Amount received as advance against supply of goods None 13. The maximum tenure for repayment of deposits is: 12 months 24 months 36 months 60 months None 14. A contract that ceases to be enforceable by law becomes: Void Voidable Illegal Frustrated None 15. Undue influence makes a contract: Void Voidable at the option of the influenced party Valid until proven otherwise Illegal None 16. A contract that depends on the happening or non-happening of a future event is: Void contract Quasi-contract Contingent contract Unenforceable contract None 17. Communication of an offer is complete when: It is dispatched It comes to the knowledge of the offeree It is accepted It is rejected None 18. Silence in response to an offer: Amounts to acceptance Does not amount to acceptance Amounts to rejection Makes the contract voidable None 19. In a sale, the property in goods: Remains with the seller Transfers to the buyer Remains with both parties jointly Is determined by the court None 20. The term "goods" under the Sale of Goods Act does not include: Stocks and shares Agricultural produce Money Growing crops None 21. If goods are perished at the time of contract without the knowledge of the seller, the contract is: Void Voidable Valid Enforceable with compensation None 22. In case of breach of warranty, the buyer: Can reject the goods Can claim damages but cannot reject the goods Has no remedy Can claim punitive damages None 23. A board meeting must be held at least: Once in every calendar month Once in every 3 months Once in every 4 months Once in every 6 months None 24. A resolution requiring a special notice must be given to the company by members holding at least: 1% of total voting power 5% of total voting power 10% of total voting power 25% of total voting power None 25. Minutes of a meeting must be signed by: Any director Company secretary The chairman of the meeting An independent director None 26. An extraordinary general meeting of a company can be called by: Board of Directors only Members holding at least 10% of the voting power Company secretary Independent directors None 27. Which of the following is not a negotiable instrument under the Act? Bill of exchange Cheque Promissory note Share certificate None 28. The liability of the drawer of a dishonored cheque arises under: Section 137 Section 138 Section 140 Section 142 None 29. If a cheque is dishonored, the payee must serve notice to the drawer within: 10 days 15 days 30 days 45 days None 30. Which of the following is not essential for a promissory note? Unconditional promise to pay Signature of the maker Mention of date of payment Specific payee None 31. The liability of a partner in an LLP is: Unlimited for all acts of the LLP Limited to their contribution in the LLP Limited to the extent of their personal assets Decided by the Registrar of LLPs None 32. An LLP agreement must be filed with the Registrar within: 30 days of incorporation 60 days of incorporation 90 days of incorporation 120 days of incorporation None 33. Which of the following is a feature of LLPs? Separate legal entity Restriction on transfer of ownership Unlimited liability Requirement of a minimum of 7 partners None 34. A contract of guarantee involves: Two parties Three parties Four parties One party only None 35. The liability of a surety in a contract of guarantee is: Primary Secondary Joint and several Optional None 36. A contract of indemnity includes: Compensation for loss caused by the promisor or any other person Compensation for losses caused by natural disasters Compensation for profits earned A promise to manage funds None 37. Where the seller delivers goods that are of a different quality, the buyer can: Reject the goods Demand specific performance Pay only a part of the price Take no action None 38. Which of the following is an implied warranty under the Sale of Goods Act? Right to sell Free from encumbrances Fitness for a particular purpose Merchantable quality None 39. The doctrine of "caveat emptor" means: Buyer beware Seller beware Let the goods speak Performance is mandatory None 40. Delivery of goods to the carrier by the seller is deemed to be: Actual delivery Constructive delivery Symbolic delivery Conditional delivery 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. 1 2 3 4 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!
