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Subject: Setting up of Business Entities and Closure

Total Number of Question: 40

Time: 41 Minutes

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Name

Phone No

State

Which of the following business structures requires at least seven members for incorporation?

Private Limited Company

Public Limited Company

LLP

One Person Company

None

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

Under which Act is a Partnership Firm registered?

Companies Act, 2013

LLP Act, 2008

Indian Partnership Act, 1932

Income Tax Act, 1961

None

Which authority is responsible for approving the name of a new company?

MCA

ROC

SEBI

RBI

None

Which type of company can issue shares to the public?

Private Limited Company

Public Limited Company

LLP

One Person Company

None

The maximum number of members allowed in a Limited Liability Partnership (LLP) is:

100

200

No limit

None

What is the minimum capital required to start a Section 8 company?

₹1 lakh

₹5 lakh

₹10 lakh

No minimum capital requirement

None

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

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?

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?

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:

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?

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

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