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!
