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. Which of the following is a characteristic of a company? Perpetual Succession Unlimited Liability Non-Transferability of Shares Lack of Legal Personality None 2. What is the minimum number of members required to form a public company? 1 2 3 7 None 3. Which section of the Companies Act, 2013, deals with the Memorandum of Association (MOA)? Section 2(56) Section 4 Section 7 Section 10 None 4. What is the maximum number of members in a private company? 50 100 200 Unlimited None 5. Who is responsible for signing the financial statements of a company? Company Secretary Statutory Auditor Chief Financial Officer (CFO) Both Director and CFO None 6. Which of the following companies must appoint a company secretary? Every Private Company Listed Companies Companies with Paid-Up Capital of ₹2 Crores or More All Companies None 7. Which section of the Companies Act, 2013, specifies the penalties for noncompliance with CSR obligations? Section 135 Section 136 Section 137 Section 138 None 8. What is the minimum subscription in a public issue as per the Companies Act, 2013? 50% 75% 90% 100% None 9. Which of the following is NOT a mode of winding up a company? Compulsory Winding Up Voluntary Winding Up Winding Up by National Company Law Tribunal (NCLT) Simplified Winding Up None 10. Which form is used for filing the Annual Return of a company? MGT-7 AOC-4 INC-20A ADT-1 None 11. An agreement enforceable by law is called a: Contract Proposal Promise Acceptance None 12. Which of the following is NOT an essential element of a valid contract? Offer and Acceptance Lawful Consideration Intention to Create Legal Relations Written Agreement None 13. Consideration must move at the desire of: The Promisor The Promisee The Third Party Any Party None 14. Which section of the Indian Contract Act deals with void agreements? Section 2(g) Section 10 Section 11 Section 25 None 15. A contract created by conduct of parties is known as: Express Contract Implied Contract Quasi-Contract Voidable Contract None 16. Which of the following is a quasi-contract? Contracts by Minor Finder of Goods Coercion-based Contracts Contracts with Unlawful Consideration None 17. An agreement made without consideration is valid if: It is in writing and registered Made out of natural love and affection Between parties standing in near relation All of the above None 18. Which of the following is NOT a mode of discharge of contract? By Performance By Agreement By Breach By Impossibility of Performance None 19. In case of breach of contract, the aggrieved party is entitled to: Nominal Damages Only Punitive Damages Only Compensation for Actual Loss Suffered No Remedy None 20. When a contract is entered into by mistake, it becomes: Void Valid Voidable Illegal None 21. What is the tenure of an independent director as per the Companies Act, 2013? 2 years 3 years 5 years 7 years None 22. Which of the following is NOT included in a Prospectus? Financial Information Details of Directors Terms of Employment of Workers Risk Factors None 23. What is the maximum number of directors a company can appoint without seeking central government approval? 12 15 20 Unlimited None 24. Under which section of the Companies Act, 2013, can the Articles of Association be altered? Section 5 Section 7 Section 14 Section 16 None 25. Which of the following is NOT a type of general meeting? Annual General Meeting Extraordinary General Meeting Board Meeting Class Meeting None 26. A company’s Articles of Association (AOA) govern: Relationship between company and external parties Internal management of the company Issue of shares Accounting policies None 27. What is the maximum time allowed to file a resolution with the Registrar of Companies (ROC)? 15 days 21 days 30 days 45 days None 28. Which section of the Companies Act, 2013, deals with the filing of financial statements? Section 128 Section 129 Section 134 Section 137 None 29. Small shareholders can appoint a director in a listed company if they hold shares of nominal value of: ₹10,000 or more ₹20,000 or more ₹1 lakh or more ₹50,000 or more None 30. Which section prescribes penalties for furnishing false information in incorporation documents? Section 7(5) Section 8 Section 10 Section 11 None 31. Minimum paid-up capital required to register a public company is: ₹1 lakh ₹2 lakhs ₹5 lakhs No Minimum Requirement None 32. What is the maximum penalty for non-compliance with CSR requirements? ₹1 lakh ₹10 lakh ₹25 lakh ₹50 lakh None 33. Who among the following can become a member of a company? Individual Company Society All of the above None 34. Which of the following is NOT a type of share capital? Authorized Capital Subscribed Capital Convertible Capital Paid-up Capital None 35. Which section of the Companies Act, 2013 deals with the appointment of directors? Section 149 Section 152 Section 161 Section 171 None 36. The law of contracts is based on the principle of: Reasonable Expectation Promissory Estoppel Consensus ad idem Quid Pro Quo None 37. When consent to an agreement is caused by coercion, the contract is: Void Voidable Valid Illegal None 38. A contract is discharged by novation when: A new party is added A new contract is substituted for the original one The terms of the contract are changed The contract is terminated None 39. Which section of the Indian Contract Act defines fraud? Section 17 Section 18 Section 19 Section 20 None 40. A minor's agreement is: Voidable Valid Void ab initio Illegal 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!
