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Test: Companies Act- 1


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20 Questions MCQ Test Business Laws for CA Foundation | Test: Companies Act- 1

Test: Companies Act- 1 for CA Foundation 2022 is part of Business Laws for CA Foundation preparation. The Test: Companies Act- 1 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Companies Act- 1 MCQs are made for CA Foundation 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Companies Act- 1 below.
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Test: Companies Act- 1 - Question 1

The term company is defined under which sec of the Act? 

Detailed Solution for Test: Companies Act- 1 - Question 1

Section 3 (1) (i) of the Companies Act, 1956 Section 2(20) of the companies act, 2013 (As per new applicable law in India)

Test: Companies Act- 1 - Question 2

Property of the company belongs to 

Test: Companies Act- 1 - Question 3

Which company shares can be freely transferable 

Detailed Solution for Test: Companies Act- 1 - Question 3

Free transferability of shares in public. restricts the right to transfer its shares, if any; While public company is a company which is not a private company and moreover, the shares of a public company are freely transferable.

Test: Companies Act- 1 - Question 4

Minimum number of members in case of public company 

Test: Companies Act- 1 - Question 5

Minimum number of members in case of private company is 

Test: Companies Act- 1 - Question 6

Maximum no. of members in case of private company is 

Detailed Solution for Test: Companies Act- 1 - Question 6

200
Minimum 2 and maximum 200 members: A private company can have a minimum of just two members (but just one is enough if it a One Person Company), and a maximum of up to 200 members. Transferability of shares restricted: Private companies cannot freely transfer their shares to the public like public companies.

Test: Companies Act- 1 - Question 7

Maximum no .of members in case of public company is 

Test: Companies Act- 1 - Question 8

How many months did the company can continue its business u/s 45 _______ 

Detailed Solution for Test: Companies Act- 1 - Question 8

Correct Answer :- D

Explanation : Under section 45, Company can continue its business upto one and a half month.

Test: Companies Act- 1 - Question 9

Minimum subscription should be received with in ______days 

Test: Companies Act- 1 - Question 10

If minimum subscription is not received application money should be refunded with in ______days 

Test: Companies Act- 1 - Question 11

Liability of a member in case of a private company is 

Detailed Solution for Test: Companies Act- 1 - Question 11

The liability of the members of a Private Limited Company is limited to the amount of shares respectively held by them. Shares of Private Limited Company cannot be publically traded.

Test: Companies Act- 1 - Question 12

Maximum no. of persons in case of partnership banking business ______ 

Test: Companies Act- 1 - Question 13

Minimum paid up share capital in case of a private company is _______ 

Test: Companies Act- 1 - Question 14

Minimum paid up share capital in case of a public company is ________ 

Test: Companies Act- 1 - Question 15

Minimum number of Directors in case of a public company is __________ 

Test: Companies Act- 1 - Question 16

Minimum number of Directors in case of private company is _______ 

Test: Companies Act- 1 - Question 17

Age limit of Directors in case of public company is ______ 

Test: Companies Act- 1 - Question 18

Age limit of Directors in case of private company is _________ 

Test: Companies Act- 1 - Question 19

The company’s nationality is decided by its 

Test: Companies Act- 1 - Question 20

The liability of members if company is limited by guarantee. 

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