MCQOPTIONS
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MCQOPTIONS
This section includes 189 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Commerce (B Com) knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
A ____________ is a director who is entrusted with certain duties and responsibilities. |
| A. | Managing Director |
| B. | Whole time Director |
| C. | Either (a) or (b) |
| D. | Neither (a) nor (b) |
| Answer» C. Either (a) or (b) | |
| 102. |
____________means abandonment of the shares by the holder thereof in favour of the company. |
| A. | Surrender of shares |
| B. | Estoppel |
| C. | Shares takeover |
| D. | Buy back |
| Answer» B. Estoppel | |
| 103. |
_________ contains rules, regulations and bye-laws regarding the internal management of companies. |
| A. | Memorandum of Association |
| B. | Articles of Association |
| C. | Prospectus |
| D. | Certificate of Incorporation |
| Answer» C. Prospectus | |
| 104. |
The _____________is not an employee nor a servant of the company, but a director who is entrusted with any substantial powers of management |
| A. | Whole time director |
| B. | Women director |
| C. | Managing director |
| D. | All of the above |
| Answer» D. All of the above | |
| 105. |
A document which is submitted by an issuer company who intends to have public offerings of securities is called |
| A. | Abridged Prospectus |
| B. | Red Herring Prospectus |
| C. | Shelf Prospectus |
| D. | Deemed Prospectus |
| Answer» C. Shelf Prospectus | |
| 106. |
According to the Employees Compensation Act,compensation must be given |
| A. | Where permanent total disablement results from the injury |
| B. | Where permanent partial disablement results from injury |
| C. | Where death results from the injury |
| D. | All of the above |
| Answer» E. | |
| 107. |
The rule of Majority shall prevail was inferred from which famous case law |
| A. | Reylands v/s Fletcher |
| B. | Mohinibibis v/s Dharmodas Ghose |
| C. | Balfour v/s Balfour |
| D. | Foss v/s Horbottle |
| Answer» E. | |
| 108. |
For which type of capital a company pays the prescribed fees at the time of registration? |
| A. | Subscribed capital |
| B. | Authorized capital |
| C. | Paid up capital |
| D. | Issued capital |
| Answer» E. | |
| 109. |
Compulsory winding up of a company will take place if |
| A. | The company is unable to pay its debts |
| B. | company passes special resolution to be wind up |
| C. | The number of members is reduced below the specified numbers in the act |
| D. | All of the Above |
| Answer» E. | |
| 110. |
Disablement which reduces the earning capacity of a workman in any employment in which he was engaged at the time of the accident is known as |
| A. | Total disablement |
| B. | Temporary partial disablement |
| C. | Permanent partial disablement |
| D. | None of the above |
| Answer» E. | |
| 111. |
A voluntary winding-up commences when |
| A. | the members of the company pass a special resolution to wind up |
| B. | an application is filed with the court by the members of the company |
| C. | the company is unable to pay its debts |
| D. | an unpaid creditor applies for the winding up |
| Answer» B. an application is filed with the court by the members of the company | |
| 112. |
A written record of the proceedings of a meeting is called- |
| A. | Resolutions |
| B. | Notice |
| C. | Agenda |
| D. | Minutes |
| Answer» E. | |
| 113. |
A document which shows that a company has borrowed a certain sum of money is: |
| A. | Articles of association |
| B. | Memorandum of Association |
| C. | Certificate of incorporation |
| D. | Prospectus |
| Answer» E. | |
| 114. |
_________are the creditors of the company. |
| A. | Stakeholders |
| B. | Shareholders |
| C. | Preference shareholders |
| D. | Debenture-holders |
| Answer» E. | |
| 115. |
According to the Act, a quorum in a public company is constituted by |
| A. | 7 members |
| B. | 5 members |
| C. | 2 members |
| D. | 8 members |
| Answer» C. 2 members | |
| 116. |
The failure, refusal or inability of an employer to provide employment to a workman whose name is included in the muster rolls of the industrial establishment and who has not been retrenched is known as |
| A. | Lay-off |
| B. | Lock out |
| C. | Retrenchment |
| D. | Strike |
| Answer» B. Lock out | |
| 117. |
The different modes of winding up are: |
| A. | Compulsory winding up under order of the court |
| B. | Voluntary winding up |
| C. | Winding up subject to supervision of the court |
| D. | All of the above |
| Answer» E. | |
| 118. |
Compulsory winding up means |
| A. | If a company unable to pay its debt |
| B. | If the number of members of company reduced below statutory limit |
| C. | If a company does commence its business within a year from its incorporation. |
| D. | All of the above. |
| Answer» E. | |
| 119. |
Voluntary winding up means |
| A. | If period fixed for the company is expired. |
| B. | If company passes a special resolution the company wound up voluntarily. |
| C. | Members voluntary winding up is applicable to solvent companies only. |
| D. | All of the above |
| Answer» E. | |
| 120. |
The companies incorporated under a special charter by a monarch are: |
| A. | Chartered companies |
| B. | Registered companies |
| C. | Statutory companies |
| D. | incorporated companies |
| Answer» B. Registered companies | |
| 121. |
A document which contains the fundamental rules regarding the constitution and activities of a company is called |
| A. | Memorandum of Association |
| B. | Articles of Association |
| C. | Certificate of Incorporation |
| D. | Prospectus |
| Answer» B. Articles of Association | |
| 122. |
When the company is a mere bubble and does not carry on any business it is a just and equitable clause to |
| A. | Compulsorily winding up |
| B. | Inspect the company |
| C. | Report it to the authority for mismanagement |
| D. | None of the above |
| Answer» B. Inspect the company | |
| 123. |
A company can borrow money and if so to what extent, are matters depending upon the interpretation of the two documents which is- |
| A. | Memorandum and Articles of Association |
| B. | Company Act and Memorandum of Association |
| C. | Company Act and Articles of Association |
| D. | Prospectus and Company Act |
| Answer» B. Company Act and Memorandum of Association | |
| 124. |
An instrument which retain debt character and cannot be converted into equity shares |
| A. | Non Convertible Debentures |
| B. | Fully Convertible Debentures |
| C. | Partly Convertible debentures |
| D. | Secured Debentures |
| Answer» B. Fully Convertible Debentures | |
| 125. |
The Articles of Association must be signed by |
| A. | All proposed directors |
| B. | Registrar |
| C. | Subscribers of Memorandum |
| D. | (d) Non of the above |
| Answer» D. (d) Non of the above | |
| 126. |
In case of compulsory winding up Liquidator is appointed by |
| A. | Court |
| B. | Members |
| C. | Shareholders |
| D. | None of the above |
| Answer» B. Members | |
| 127. |
Which section provides for voluntary winding up of a company |
| A. | Section 484 |
| B. | Section 348 |
| C. | Section 224 |
| D. | Section 228 |
| Answer» B. Section 348 | |
| 128. |
A statement of nominal capital must be given at the time of incorporation by the company when the share capital is less than |
| A. | 50 lakh |
| B. | 1 crore |
| C. | 25 lakh |
| D. | 10 lakh |
| Answer» D. 10 lakh | |
| 129. |
An application for the winding up of a company can be made to the court by |
| A. | The company |
| B. | Any creditor or creditors |
| C. | The registrar |
| D. | All of the above |
| Answer» E. | |
| 130. |
Which one of the following is not an appropriate Government in relation to any scheduled employment? |
| A. | The Central Government |
| B. | The Railway Administration |
| C. | The Municipal Administration |
| D. | The State Government |
| Answer» D. The State Government | |
| 131. |
If there is no quorum within ___________ of the notified time for starting the meeting, it is dissolved. |
| A. | Half an hour |
| B. | One hour |
| C. | One and half hour |
| D. | Two hour |
| Answer» B. One hour | |
| 132. |
In case of creditors voluntarily winding up,liquidator is appointed by |
| A. | Creditors |
| B. | Members |
| C. | Both Creditors &Menbers |
| D. | None of the above |
| Answer» D. None of the above | |
| 133. |
In order to prevent the majority from misusing their power and to ensure justice to minority shareholders, certain exceptions have been admitted. Which of the following is among the exceptions: |
| A. | Acts supported by insufficient majority |
| B. | Acts which are ultra vires |
| C. | Wrongdoers in control |
| D. | All the above |
| Answer» E. | |
| 134. |
Winding up by the members themselves without the intervention of the court |
| A. | Voluntary winding up |
| B. | Compulsory winding up |
| C. | Members winding up |
| D. | None of the above |
| Answer» B. Compulsory winding up | |
| 135. |
Who can apply for winding up? |
| A. | The Company |
| B. | Any Creditor |
| C. | Any Contributory |
| D. | All of the above |
| Answer» E. | |
| 136. |
The duties of the Official Liquidator includes- |
| A. | To make a list of Creditors |
| B. | To keep proper books for making entries or recording minutes of the proceedings at meetings |
| C. | To summon general meetings of creditors and contributories, in order to find out their wishes |
| D. | All of the above |
| Answer» E. | |
| 137. |
For winding up,the companies act provides that in each High Court ther shall be an officer known as the official liquidator appointed by the |
| A. | Central Government |
| B. | State Government |
| C. | Municipal Administration |
| D. | None of the Above |
| Answer» B. State Government | |
| 138. |
Which of the following section defines a managing director: |
| A. | Sec. 296 (1) |
| B. | Sec. 2 (26) |
| C. | Sec. 26 (2) |
| D. | Sec. 6 (22) |
| Answer» C. Sec. 26 (2) | |
| 139. |
Amount remained unclaimed in Company Liquidation Dividend and Undistributed Asset account shall be transferred to general revenue account of Central Government after |
| A. | 10 Years |
| B. | 12 Years |
| C. | 15 Years |
| D. | 20 Years |
| Answer» D. 20 Years | |
| 140. |
Which of the following clause of Memorandum of Association cannot be altered |
| A. | Name |
| B. | Liability |
| C. | Situation |
| D. | Object |
| Answer» C. Situation | |
| 141. |
If in a scheduled employment, minimum rates need not be fixed until the number reaches- |
| A. | 500 |
| B. | 1000 |
| C. | 1500 |
| D. | 2000 |
| Answer» C. 1500 | |
| 142. |
In a scheduled employment, minimum rates need not be fixed until the number of workers reaches : |
| A. | 1000 |
| B. | 500 |
| C. | 100 |
| D. | 200 |
| Answer» B. 500 | |
| 143. |
Different rates of wages may be fixed for- |
| A. | Different scheduled employment |
| B. | Different classes of work in the same scheduled employment |
| C. | Both (a) and (b) |
| D. | Neither (a) nor (b) |
| Answer» D. Neither (a) nor (b) | |
| 144. |
The fixation or revision of minimum rate of wages shall come into force on the expiry of ________ from the date of the issues of notification: |
| A. | 6 months |
| B. | 3 months |
| C. | 2 months |
| D. | 12 months |
| Answer» C. 2 months | |
| 145. |
The Board of Directors can call a general meeting of the members any time by giving not less than- |
| A. | 12 days notice |
| B. | 15 days notice |
| C. | 18 days notice |
| D. | 21 days notice |
| Answer» E. | |
| 146. |
The fundamental conditions upon which alone the company is allowed to be incorporated is contained in: |
| A. | Articles of association |
| B. | Memorandum of Association |
| C. | Certificate of incorporation |
| D. | Certificate of commencement of business |
| Answer» C. Certificate of incorporation | |
| 147. |
The Board of Directors can call a general meeting of the members any time by giving not less than _________notice. |
| A. | days |
| B. | 21 days |
| C. | 22 days |
| D. | 25 days |
| Answer» C. 22 days | |
| 148. |
The first Annual General Meeting of a company may be held within a period of not more than ___________ from the date of its incorporation. |
| A. | 12 months |
| B. | 14 months |
| C. | 16 months |
| D. | 18 months |
| Answer» E. | |
| 149. |
The appropriate Government may, by notification in the official Gazette, appoint _____________ to exercise functions of a Labour Commissioner: |
| A. | Any Commissioner of Workmen s Compensation |
| B. | Certain officers of the Central Government |
| C. | Certain officers of the State Government |
| D. | All of the above |
| Answer» E. | |
| 150. |
In case of winding up of a company, the liquidator appointed is required to give a declaration disclosing their interest or lack of independence if any, within |
| A. | 10 days |
| B. | 15 days |
| C. | 7 days |
| D. | 30 days |
| Answer» D. 30 days | |