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 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 2. The maximum number of directors a company can have without seeking approval from the government is: 10 12 15 20 None 3. 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 4. Which of the following meetings is NOT mandatory for a private company? Annual General Meeting Board Meetings Extraordinary General Meeting Statutory Meeting None 5. The quorum for a General Meeting in a private company with less than 30 members is: 1 member 2 member 3 member 5 member None 6. The tenure of a statutory auditor of a private company cannot exceed: 3 years 5 years 10 years 15 years None 7. The Corporate Social Responsibility (CSR) Committee is mandatory for companies having a net profit of at least: ₹1 crore ₹5 crore ₹10 crore ₹100 crore None 8. Which document governs the internal management of a company? Memorandum of Association Articles of Association Prospectus Financial Statements None 9. A company must file its financial statements with the Registrar of Companies within: 30 days from the end of the financial year 60 days from the end of the financial year 120 days from the AGM 180 days from the AGM None 10. The appointment of a director in a public company is governed by: The Board of Directors Shareholders in a General Meeting The Ministry of Corporate Affairs None 11. Who among the following cannot be appointed as an auditor of a company? A qualified Chartered Accountant A qualified Chartered Accountant A Government auditor None 12. A debenture holder is considered a: Shareholder Creditor Owner Director None 13. A company can issue preference shares with a maximum redemption period of: 10 years 15 years 20 years 25 years None 14. The Director Identification Number (DIN) is issued by: SEBI Ministry of Corporate Affairs Reserve Bank of India NCLT None 15. Which of the following resolutions is required to change a company's name? Ordinary Resolution Special Resolution Board Resolution None 16. The Companies Act, 2013 applies to: Only private companies Only public companies All companies incorporated in India Only listed companies None 17. The person who signs the Memorandum of Association at the time of incorporation is called a: Director Promoter Shareholder Auditor None 18. The maximum period for which a private company can be granted exemption from holding an AGM is: 6 months 9 months 12 months No exemption is allowed None 19. Which of the following transactions requires shareholder approval through a special resolution? Appointment of a Director Issue of Bonus Shares Sale of the whole or substantially the whole of the company’s undertaking Appointment of a Company Secretary None 20. The maximum number of shareholders in a private company is: 50 100 150 200 None 21. Which document must be filed with the ROC for increasing the authorized capital of a company? MGT-7 SH-7 DIR-12 None 22. In which case is an Extraordinary General Meeting (EGM) mandatory? For declaring dividends For appointing a Company Secretary For approving mergers and acquisitions For holding Board Meetings None 23. The minimum paid-up capital required for a public company is: ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 24. The penalty for non-compliance with CSR provisions under the Companies Act, 2013 is: ₹50,000 ₹1 lakh ₹10 lakh ₹25 lakh None 25. Which authority grants approval for the compounding of offences under the Companies Act? MCA SEBI RBI NCLT None 26. The audit report of a listed company must be signed by: The Board of Directors The Company Secretary The Company Secretary The Chief Financial Officer None 27. A One Person Company (OPC) must have a nominee who will: Act as the company’s CEO Take over in case of the member’s death or incapacity Be responsible for financial management Approve board decisions None 28. Approve board decisions 7 days 15 days 30 days 60 days None 29. A company secretary must be appointed in: Every listed company Every private company Every one-person company None 30. Which form is used for Director KYC compliance? DIR-3 DIR-4 DIR-6 DIR-3 KYC None 31. The penalty for failing to file annual financial statements with the ROC within the prescribed time is: ₹10,000 per day ₹50,000 per day ₹1,00,000 fixed penalty ₹10,000 plus ₹100 per day of default None 32. The minimum number of board meetings a private company must hold in a calendar year is: 2 3 4 6 None 33. A resolution requiring a simple majority for approval is called a: Special Resolution Ordinary Resolution Board Resolution None 34. Which of the following statements about a Private Company is FALSE? It cannot issue shares to the public It must have at least two members It must have at least two members None 35. A company can remove a director before the expiry of their term by passing: An Ordinary Resolution A Special Resolution A Board Resolution A Resolution with Special Notice None 36. The legal status of a company is that of a: Proprietorship Partnership Separate legal entity Department of the government None 37. A company must file an allotment return with the ROC within how many days of issuing new shares? 15 days 30 days 45 days 60 days None 38. The "Doctrine of Indoor Management" protects: Outsiders dealing with the company Directors from legal action Shareholders from liabilities Government authorities overseeing companies None 39. If a company fails to commence business within the prescribed time after incorporation, the ROC can: Impose a fine of ₹5 lakh Strike off the company’s name from the register Convert it into a public company Transfer ownership to the government None 40. The concept of "Perpetual Succession" in company law means that: The company continues to exist even if shareholders change The company must renew its incorporation every year The company is dissolved after 10 years The company ceases to exist upon the death of its founder 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. 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