. Which of the following is not true for a company?*

1 point

A company is an association of many persons

Group of persons come together for a common objective

Company has a common seal

Company is an artificial person

Members in a company have unlimited liability

2. Which of the following is not a step in formation of a company?*

1 point

Registration of a name

Filing of the Memorandum and Articles of Association

Filing of the prospectus

Commencement of business

Reporting

3. What is meant by lifting of corporate veil?*

1 point

Inauguration of the company

Shutting the company

Ignoring the legal status of the company

Un-listing a company from the stock market

Listing a company in the stock market

4. Doctrine of indoor management refers to:*

1 point

Fraudulent deals of the company

internal management of the company which cannot be verified by third party

Tax liabilities of the company

Articles of association of the company

5. Which of the following is not a clause contained in Memorandum of association?*

1 point

Management clause

Name Clause

Registered Office Clause

Objects clause

Liability clause

6. Select all options which are contained in Articles of Association*

1 point

Powers duties rights and liabilities of directors

Borrowing Power of the company

Rules for meeting of the company

Memorandum of association

Voting power of members

Winding up of the business

Subscription clause

7. Doctrine of Ultra Vires refers to:*

1 point

An act which is not within the purview of the Memorandum of association

An act which is not within he purview of the Articles of association

An act which is not within the purview of the prospectus

An act which is not within the purview of the Companies Act 2013

8. Which of the following are types of companies under the Companies act 2013*

1 point

Private Company

Public Company

Limited Liability Partnership

Unlimited Company

One Person Company

Dormant Company

Cooperative Society

Partnership Firm

9. A Red Herring Prospectus is one which*

1 point

Does not include the complete particulars of the quantum or price of securities included therein.

It is just another term for a prospectus

It is a prospectus which is not yet reviewed and approved by SEBI (Securities Exchange Board of India)

It is a prospectus which is not yet shared with public.

10. Which of the following are kinds of Company Meeting for Members of the Company?*

1 point

Annual General Meeting

Extraordinary General Meeting

Board Meeting

Meeting of Creditors

Class Meeting

Meeting of Debenture Holders