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Test: Meeting and proceedings- 1 - B Com MCQ


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10 Questions MCQ Test - Test: Meeting and proceedings- 1

Test: Meeting and proceedings- 1 for B Com 2024 is part of B Com preparation. The Test: Meeting and proceedings- 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Meeting and proceedings- 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Meeting and proceedings- 1 below.
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Test: Meeting and proceedings- 1 - Question 1
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Which type of meeting is required to be held only once in the lifetime of a public company limited by shares or a guarantee company having share capital?

Detailed Solution for Test: Meeting and proceedings- 1 - Question 1
A statutory meeting is required to be held only once in the lifetime of a public company limited by shares or a guarantee company having share capital. It must be held within a specific time period after the company is entitled to commence business. The purpose of the statutory meeting is to provide members with important information about the formation of the company and its initial life history.
Test: Meeting and proceedings- 1 - Question 2
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What matters can be discussed at a statutory meeting?

Detailed Solution for Test: Meeting and proceedings- 1 - Question 2
A statutory meeting is specifically for discussing matters related to the formation of the company. Only matters such as the floatation of shares and modification of contracts mentioned in the prospectus can be discussed at a statutory meeting.
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Test: Meeting and proceedings- 1 - Question 3
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What is the minimum notice period required for calling an annual general meeting?

Detailed Solution for Test: Meeting and proceedings- 1 - Question 3
A notice of at least 21 days before the annual general meeting must be given to members, unless consent is accorded to a shorter notice by members holding not less than 95% of voting rights in the company.
Test: Meeting and proceedings- 1 - Question 4
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What is a proxy in the context of company meetings?
Detailed Solution for Test: Meeting and proceedings- 1 - Question 4
A proxy is a document through which a member of a company appoints a representative (proxy) to vote on their behalf at a general meeting. This allows members who cannot attend the meeting in person to have their votes represented.
Test: Meeting and proceedings- 1 - Question 5
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Which type of meeting can be called by a director or a member of a company when the board fails to call it within a specified time after receiving a requisition?
Detailed Solution for Test: Meeting and proceedings- 1 - Question 5
When the board fails to call an extraordinary general meeting within a specified time after receiving a requisition from members, the requisitionists can proceed to call the meeting themselves. This ensures that important matters can be discussed and resolved in a timely manner.
Test: Meeting and proceedings- 1 - Question 6
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What is the purpose of an extraordinary general meeting?
Detailed Solution for Test: Meeting and proceedings- 1 - Question 6
An extraordinary general meeting is called to discuss and decide urgent matters that cannot wait until the next annual general meeting. It allows the company to address important issues in a timely manner.
Test: Meeting and proceedings- 1 - Question 7
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What is the consequence of default in holding an annual general meeting?
Detailed Solution for Test: Meeting and proceedings- 1 - Question 7
If a company defaults in holding an annual general meeting, the company and every officer of the company who is in default may be penalized with fines. Additionally, a member of the company can apply to the Company Law Board to call the meeting.
Test: Meeting and proceedings- 1 - Question 8
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What is the purpose of an agenda in a meeting?
Detailed Solution for Test: Meeting and proceedings- 1 - Question 8
An agenda serves as a roadmap for the systematic transaction of business in a meeting. It helps ensure that the meeting proceeds in an organized manner, addressing each item of business in the proper order.
Test: Meeting and proceedings- 1 - Question 9
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Which type of meeting is held by holders of a particular class of shares, such as preference shareholders?
Detailed Solution for Test: Meeting and proceedings- 1 - Question 9
Class meetings are held by holders of a particular class of shares, such as preference shareholders. These meetings are usually called when there is a proposal to vary the rights of that specific class of shares.
Test: Meeting and proceedings- 1 - Question 10
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What is the difference between a motion and a resolution in a meeting?
Detailed Solution for Test: Meeting and proceedings- 1 - Question 10
A motion is a proposal put before a meeting for consideration and discussion. Once voted upon and passed, it becomes a resolution, which is the formal expression of the meeting's decision. Resolutions are recorded in the minutes and represent the official outcomes of the meeting.
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