MCQ Questions for Class 11 Business Studies: Ch 7 Formation of a Company

MCQ Questions for Class 11 Business Studies: Ch 7 Formation of a Company

1. The certificate of capital will be issued by
(a) Registrar of companies Act
(b) Controller of companies Act.
(c) Registrar of capital issues
(d) Controller of capital issues
► (d) Controller of capital issues

2. Which of the following clause of Memorandum of Association cannot be altered
(a) Name
(b) Object
(c) Situation
(d) Liability
► (d) Liability

3. A private company means a company which has a minimum paid up capital of Rs.————-
(a) 1,00,000
(b) 5,00,000
(c) 50,00,000
(d) None of the above
► (a) 1,00,000

4. The Prospectus must be issued to the public within ______________ days of its date
(a) 30
(b) 60
(c) 90
(d) 100
► (c) 90

5. __________ means the total amount of called up capital on the shares issued and subscribed by the shareholders on capital account.
(a) Called-up capital
(b) subscribed capital
(c) nominal capital
(d) Paid-up capital
► (a) Called-up capital

6. Par value of shares means the __________ value of the shares
(a) Actual
(b) face
(c) Market
(d) dividend
► (b) face

7. The shares of a _______________ company can be freely transferable
(a) Private ltd
(b) Public ltd
(c) Partnership
(d) All of the above
► (b) Public ltd

8. Which of the following is not a clause of memorandum of association
(a) situation
(b) capital
(c) subscription
(d) directors
► (d) directors

9. “Men may come and men may go but the company exist”- this explains which characteristics of the company as per companies Act 1956
(a) Separate legal entity
(b) Perpetual Succession
(c) Capacity to sue
(d) None of the above
► (b) Perpetual Succession

10. ___________ cannot give invitation to the public to subscribe for any shares in or debentures of the company
(a) Subsidiary company
(b) Statutory Company
(c) Private company
(d) Registered company
► (c) Private company

11. A proposed name of Company is considered undesirable if
(a) It is identical with the name of an existing company
(b) It resembles closely with the name of an existing company
(c) It is an emblem of Government of India, United Nations etc.
(d) In case of any of the above
► (d) In case of any of the above

12. Powers, rights, remuneration, qualification and duties of directors are discussed clearly in
(a) Memorandum of Association
(b) Articles of Association
(c) Prospectus
(d) None of the above
► (b) Articles of Association

13. The company will be considered as separate person and different from its members from the date of _____________
(a) Start of business
(b) Apply for registration
(c) Receive incorporation certificate
(d) Mentioned in certificate
► (d) Mentioned in certificate

14. A prospectus is issued by
(a) A private company
(b) A public company seeking investment from public
(c) A public enterprise
(d) A public company
► (b) A public company seeking investment from public

15. Private company prohibits any invitation or acceptance of deposits from persons other than its ___________
(a) Members
(b) directors
(c) Partners
(d) Banks
► (a) Members

16. _______________ capital means the sum mentioned in the capital clause of Memorandum of Association
(a) Full capital
(b) Maximum capital
(c) share capital
(d) Nominal Capital
► (d) Nominal Capital

17. _________ are the company created by special act of the legislature
(a) Registered company
(b) Public Ltd Company
(c) Private ltd company
(d) Statutory company
► (d) Statutory company

18. Section 12 of Companies Act 1956, deals with
(a) Incorporation
(b) Share capital
(c) Number of Directors
(d) Share holders
► (a) Incorporation

19. Among the following which documents are not mandatory to be submitted to the registrar along with incorporation application by a private company.
(a) Address of Registered office & undertaking
(b) Undertaking and statement of capital
(c) Statement of capital & list of directors
(d) List of directors and statement of capital
► (a) Address of Registered office & undertaking

20. The articles of association needs to be signed by
(a) All proposed directors
(b) Registrar
(c) Subscribers of memorandum
(d) None of the above
► (c) subscribers of memorandum

21. A private company means a company which has a minimum paid up capital of Rs.————-
(a) 1,00,000
(b) 5,00,000
(c) 50,00,000
(d) None of the above
► (b) 5,00,000

22. The dividend payable to ___________ share holders is payable on fixed figure or percent
(a) Equity
(b) Non preference
(c) Preference
(d) All of the above
► (c) Preference

23. A company is known as the _______company of another company if it has control over that other company.
(a) Subsidiary
(b) Holding
(c) Controlling
(d) Statutory
► (b) Holding

24. Application for approval of name of a company is to be made to
(a) SEBI
(b) Registrar of Companies
(c) Government of India
(d) Government of the State in which Company is to be registered
► (b) Registrar of Companies

25. The application for registration of a company should be presented to the _______________ of the state appointed under Companies Act 1956
(a) Controller
(b) Registrar
(c) Governor
(d) Registration officer
► (b) Registrar
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