What is the primary characteristic that distinguishes a chartered company from other types of companies?

It is formed under the Indian Companies Act.

It is incorporated by a special charter granted by a monarch.

It is a non-profit organization.

It has an unlimited number of members.

What is the primary difference between a company limited by shares and a company limited by guarantee?

A company limited by shares has no share capital, while a company limited by guarantee has a share capital.

A company limited by shares has unlimited liability for its members, while a company limited by guarantee has limited liability.

A company limited by shares has its members' liability limited to the unpaid amount on their shares, while a company limited by guarantee has its members' liability limited to a predetermined guarantee amount.

A company limited by shares can invite the public to subscribe for shares, while a company limited by guarantee cannot.

What is the main distinction between the managerial remuneration of a public company and a private company?

There is no restriction on managerial remuneration in a public company.

A public company can pay a maximum of 11% of net profits as managerial remuneration.

A private company can pay a higher percentage of net profits as managerial remuneration.

Managerial remuneration is not allowed in private companies.

What is the main feature that distinguishes a public company from a private company?

A public company has a maximum of 50 members, while a private company can have an unlimited number of members.

A public company can invite the public to subscribe for its shares, while a private company cannot.

A public company must have at least 7 members, while a private company must have at least 2 members.

A public company must use the word "Pvt" after its name, while a private company does not need to.

In ancient Indian corporate organizations, what was the purpose of the institution called 'Sreni'?

To engage in long-distance travel and trade

To establish educational institutions

To create non-profit organizations

How did ancient Indian partnerships regulate the division of assets and liabilities among partners?

Assets were divided equally among partners.

Assets were divided based on the partners' socioeconomic status.

Liabilities were divided equally among partners.

Division was based on the relative contributions of skill, labor, and capital by partners.

Company Law- 2 Free MCQ Practice Test with Solutions

	Company Law 81 docs\|44 tests

	Company Law 81 docs\|44 tests

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