All Courses
Get the App Signup / Login
Sign in Open App
B Com Exam  >  B Com Tests  >  Test: Voluntary (Part -1&2) - Winding Up - B Com MCQ

Test: Voluntary (Part -1&2) - Winding Up - B Com MCQ


Test Description

10 Questions MCQ Test - Test: Voluntary (Part -1&2) - Winding Up

Test: Voluntary (Part -1&2) - Winding Up for B Com 2024 is part of B Com preparation. The Test: Voluntary (Part -1&2) - Winding Up questions and answers have been prepared according to the B Com exam syllabus.The Test: Voluntary (Part -1&2) - Winding Up MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Voluntary (Part -1&2) - Winding Up below.
Solutions of Test: Voluntary (Part -1&2) - Winding Up questions in English are available as part of our course for B Com & Test: Voluntary (Part -1&2) - Winding Up solutions in Hindi for B Com course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Voluntary (Part -1&2) - Winding Up | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study for B Com Exam | Download free PDF with solutions
Test: Voluntary (Part -1&2) - Winding Up - Question 1
Save

What is the key characteristic of a voluntary winding up?

Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 1
In a voluntary winding up, creditors and members can settle the company's affairs without the intervention of the Court. This allows them to take control and manage the winding up process on their own terms.
Test: Voluntary (Part -1&2) - Winding Up - Question 2
Save

When does a voluntary winding up commence?

Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 2
A voluntary winding up is deemed to commence at the time when the resolution for winding up is passed by the company.
1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: Voluntary (Part -1&2) - Winding Up - Question 3
Save

Who is responsible for the realization and distribution of the company's assets in voluntary winding up?

Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 3
In voluntary winding up, the possession of the company's assets vests in the appointed liquidator, who is responsible for realizing and distributing the assets among creditors and contributories.
Test: Voluntary (Part -1&2) - Winding Up - Question 4
Save
What happens to a company's business operations during voluntary winding up?
Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 4
During voluntary winding up, the company's business operations cease, except for activities required for the beneficial winding up process.
Test: Voluntary (Part -1&2) - Winding Up - Question 5
Save
When is a members' voluntary winding up initiated?
Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 5
A members' voluntary winding up takes place when the company is solvent, and it is initiated by the members themselves. The company must be able to pay its debts in full within a specified period.
Test: Voluntary (Part -1&2) - Winding Up - Question 6
Save
What is a declaration of solvency in voluntary winding up?
Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 6
A declaration of solvency is a statement made by the directors that the company has no debts or will be able to pay its debts in full within a specified period. It includes a statement of the company's assets and liabilities.
Test: Voluntary (Part -1&2) - Winding Up - Question 7
Save
In a creditors' voluntary winding up, who can appoint the liquidator?
Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 7
In a creditors' voluntary winding up, both the creditors and the members at their respective meetings can nominate a person to be the liquidator.
Test: Voluntary (Part -1&2) - Winding Up - Question 8
Save
What role does the committee of inspection play in creditors' voluntary winding up?
Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 8
The committee of inspection in a creditors' voluntary winding up has the authority to fix the remuneration to be paid to the liquidator.
Test: Voluntary (Part -1&2) - Winding Up - Question 9
Save
What action is required if a vacancy occurs in the office of a liquidator in voluntary winding up?
Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 9
In case of a vacancy in the office of a liquidator, creditors in a general meeting of creditors can fill the vacancy.
Test: Voluntary (Part -1&2) - Winding Up - Question 10
Save
When does a company in voluntary winding up dissolve?
Detailed Solution for Test: Voluntary (Part -1&2) - Winding Up - Question 10
A company in voluntary winding up dissolves after its affairs are fully wound up, the liquidator makes up the account of winding up, and the final meeting is held with a report of how the winding up was conducted.
Information about Test: Voluntary (Part -1&2) - Winding Up Page
In this test you can find the Exam questions for Test: Voluntary (Part -1&2) - Winding Up solved & explained in the simplest way possible. Besides giving Questions and answers for Test: Voluntary (Part -1&2) - Winding Up, EduRev gives you an ample number of Online tests for practice
Download as PDF

Important Questions for Voluntary (Part -1&2) - Winding Up

Find all the important questions for Voluntary (Part -1&2) - Winding Up at EduRev.Get fully prepared for Voluntary (Part -1&2) - Winding Up with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Voluntary (Part -1&2) - Winding Up syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Voluntary (Part -1&2) - Winding Up resources.

Voluntary (Part -1&2) - Winding Up MCQs with Answers

Prepare for the Voluntary (Part -1&2) - Winding Up within the B Com exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Voluntary (Part -1&2) - Winding Up

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Voluntary (Part -1&2) - Winding Up with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup