Q. Shares can be freely transferable in ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (A)
Public company
Corporate Laws MCQs and Notes
Q. Public company means a company which has a minimum paid up capital of Rs.‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (C)
5,00,000
Q. A public company has been defined in sec.‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (A)
3(1)(iv)
Q. Private company means a company which has a minimum paid up capital of ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (C)
Rs.1,00,000
Q. Companies limited by ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ are not formed for the purpose of profit but for the promotion of art, science, culture, charity, sports, commerce etc.
✅ Correct Answer: (D)
Guarantee
Q. ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ Company may be companies limited by shares companies limited guarantee, unlimited companies.
✅ Correct Answer: (B)
Liability of members
Q. Statutory companies are those incorporated under a special act passed by ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (B)
Parliament
Q. ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company are those which are incorporated by a Royal Charter.
✅ Correct Answer: (A)
Chartered
Q. The winding up of the company can only be done by the process of ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (C)
Law
Q. Accounts of a company must be audited by an ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (B)
Auditor