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B Com Exam  >  B Com Tests  >  Test: Company Meetings- 1 - B Com MCQ

Test: Company Meetings- 1 - B Com MCQ


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10 Questions MCQ Test - Test: Company Meetings- 1

Test: Company Meetings- 1 for B Com 2024 is part of B Com preparation. The Test: Company Meetings- 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Company Meetings- 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Company Meetings- 1 below.
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Test: Company Meetings- 1 - Question 1
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What is the purpose of a company's annual general meeting?

Detailed Solution for Test: Company Meetings- 1 - Question 1
The annual general meeting of a company serves the purpose of reviewing the company's financial statements, discussing its financial performance, and electing directors. It provides an opportunity for shareholders to be informed about the company's activities and make decisions about its management.
Test: Company Meetings- 1 - Question 2
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When should a company's first annual general meeting be held?

Detailed Solution for Test: Company Meetings- 1 - Question 2
A company's first annual general meeting must be held within 18 months from the date of its incorporation. If the meeting is held within this period, the company is not required to hold any annual general meeting in the year of its incorporation or the following year.
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Test: Company Meetings- 1 - Question 3
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What is the consequence of not delivering the statutory report to the Registrar?

Detailed Solution for Test: Company Meetings- 1 - Question 3
If a company fails to deliver the statutory report to the Registrar or hold the statutory meeting, the Court may order the compulsory winding up of the company. This emphasizes the importance of complying with these requirements.
Test: Company Meetings- 1 - Question 4
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Which type of meeting is not required for private companies?
Detailed Solution for Test: Company Meetings- 1 - Question 4
Private companies are not required to hold a statutory meeting. However, they are required to hold annual general meetings and other general meetings as per the Companies Act.
Test: Company Meetings- 1 - Question 5
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What is the purpose of a statutory meeting?
Detailed Solution for Test: Company Meetings- 1 - Question 5
The purpose of a statutory meeting is to provide shareholders with important facts about the company, such as shares allotted, cash received, contracts entered into, and preliminary expenses. This meeting allows shareholders to discuss the company's management methods and prospects.
Test: Company Meetings- 1 - Question 6
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In which meeting must the company provide a list of members' names, addresses, and share holdings?
Detailed Solution for Test: Company Meetings- 1 - Question 6
The company is required to provide a list of members' names, addresses, and share holdings at the commencement of the statutory meeting. This information is accessible to any member during the meeting.
Test: Company Meetings- 1 - Question 7
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What action should a company take if it holds its first annual general meeting within 12 months of incorporation?
Detailed Solution for Test: Company Meetings- 1 - Question 7
If a company holds its first annual general meeting within 12 months of incorporation, it is not required to hold any more annual general meetings in the current year or the following year.
Test: Company Meetings- 1 - Question 8
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Who certifies the correctness of the statutory report in relation to shares allotted and cash received?
Detailed Solution for Test: Company Meetings- 1 - Question 8
The auditors of the company must certify the correctness of the statutory report in relation to shares allotted by the company, the cash received, and the receipts and payments of the company.
Test: Company Meetings- 1 - Question 9
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What is the primary objective of an annual general meeting?
Detailed Solution for Test: Company Meetings- 1 - Question 9
The primary objective of an annual general meeting is to review the company's financial statements, discuss its financial performance, and make decisions related to its management.
Test: Company Meetings- 1 - Question 10
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What is the penalty for default in complying with the provisions of a statutory meeting?
Detailed Solution for Test: Company Meetings- 1 - Question 10
If there is a default in complying with the provisions of a statutory meeting, the directors or officers of the company who are in default may be liable to a fine of up to Rs. 500.
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