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Test: Companies Act- 2


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20 Questions MCQ Test Business Laws for CA Foundation | Test: Companies Act- 2

Test: Companies Act- 2 for CA Foundation 2022 is part of Business Laws for CA Foundation preparation. The Test: Companies Act- 2 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Companies Act- 2 MCQs are made for CA Foundation 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Companies Act- 2 below.
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Test: Companies Act- 2 - Question 1

Converting a public company into a private company requires a special resolution.

Test: Companies Act- 2 - Question 2

According to the Companies Act, a foreign company is

Detailed Solution for Test: Companies Act- 2 - Question 2

Definition of Company under Companies Act, 2013

Section 2(20): Company means a company incorporated under this Act or under any previous company law.

Definition of Body Corporate under Companies Act, 2013

Section 2(11): Body Corporate or Corporation includes a Company incorporated outside India, but does not include-

i. A co-operative society registered under any law relating to co-operative societies; and

ii. Any other body corporate (not being a company defined in this act), which the Central Government may by notification specify in this behalf.

Test: Companies Act- 2 - Question 3

Legal position of a promoter of a company is.

Test: Companies Act- 2 - Question 4

A company is said to have been registered when?

Test: Companies Act- 2 - Question 5

A private Limited company commences business.

Test: Companies Act- 2 - Question 6

Certificate of commencement of business is not required by.

Test: Companies Act- 2 - Question 7

The companies (Amendment) Act , 2000 provides new section 292 A for constitution of audit committees by every public company having a paid up capital of.

Test: Companies Act- 2 - Question 8

An Audit Committee may include.

Test: Companies Act- 2 - Question 9

Which of the following reports included clause 49 in the listing agreement.

Detailed Solution for Test: Companies Act- 2 - Question 9

Correct Answer :- b

Explanation : The Kumar Mangalam Birla Committee report included mandatory Management Discussion & Analysis segment of annual report that includes discussion of industry structure and development, opportunities, threats, outlook, risks etc. as well as financial and operational performance and managerial developments in Human Resource /Industrial Relations front. Clause 49 included this recommendation as a part of management disclosures. Risk Management was however propounded for the first time by the Narayana Murthy Committee (2003) in its report by which it required that the company shall lay down procedures to inform Board members about the risk assessment and minimization procedures. These procedures shall be periodically reviewed to ensure that executive management controls risk through means of a properly defined framework and overlooked by a Risk Management Committee. This is incorporated in Clause 49 as a part of internal disclosures to the Board.

Test: Companies Act- 2 - Question 10

Audit committee shall act in accordance with the terms of reference to be specified by.

Test: Companies Act- 2 - Question 11

A person cannot be a director of more than …………… as per the Companies (Amendment) Act, 2000.

Test: Companies Act- 2 - Question 12

The remuneration payable to a whole time director of the company should not exceed.

Test: Companies Act- 2 - Question 13

The first directors of a public company are appointed by the.

Test: Companies Act- 2 - Question 14

According to the companies Act, 1956 a Private limited company must have at least ………… directors.

Test: Companies Act- 2 - Question 15

Maximum managerial remuneration permissible under the Companies Act, 1956 for public limited companies is.

Test: Companies Act- 2 - Question 16

Under the companies Act, which one of the following powers can be exercised by the Board of Directors?

Test: Companies Act- 2 - Question 17

Who may be appointed as a director of a company?

Test: Companies Act- 2 - Question 18

The nominal value of the qualification shares of a director must not exceed.

Test: Companies Act- 2 - Question 19

According to section 255 of the companies Act, the Directors must be appointed by the.

Test: Companies Act- 2 - Question 20

The Board of Directors can exercise the power to appoint directors in the case of.

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