31.______________ is a voluntary association of persons formed to carry on some business for profit or to promote art, science, education or some charitable purpose.

1. Incorporation
2. Private company
3. Company
4. Public company

32.Accounts of a company must be audited by an ______________

1. Chartered Accountant
2. Auditor
3. Board of Directors
4. All of these.

33.A public company has been defined in sec ______________

1. 3(1)(iv)
2. 3(1)(i)
3. 3(1)(iii)
4. 3(1)(ii)

34.The shorter versions of a prospectus is also known as ______________

1. Deemed prospectus
2. Incomplete prospectus
3. Abridged prospectus
4. Red Herring Prospectus

35.The articles of Association and the memorandum of Association are drafted by ______________

1. Auditor
2. Director
3. Secretary
4. Register

36.The board of directors delegate the power to ______________

1. Issue debentures
2. Issue of shares
3. Invest the fund
4. Make loans

37.Holding company is defined in section ______________ of the companies Act.

1. 4(4)
2. 2(2)
3. 3(4)
4. 3(1)

38.The other name of indoor management is called ______________

1. Golden rule
2. Constructive notice
3. Indoor rule
4. Tarquand rule

39.The statement in lieu of prospectus is drafted in accordance with the particulars set in part I of the ______________ the Act

1. Schedule I
2. Schedule IV
3. Schedule III
4. Schedule II

40.The right given to a particular class of shareholders are called the ______________

1. Special rights
2. General rights
3. Class right
4. None of the above