Company law introduction

In which year present Companies Act comes into force?

• 1956

• 2013

• 2018

• 2020

Minimum number of members required to form a public company are

• 2

• 5

• 7

• 3

Saloman was carried which kind of business?

• cloths

• Boot

• Chocolate

• Mobile

The term perpetual succession mean

• Going to be die

• Never dies

• Member operated only

• Separate property

Shares in private company ______

• never transferable

• can be transfer with approval of other members

• Freely transferable

• Transfer by company law Board only

The common seal of the company

• Is mandatory for all the companies

• It is mandatoryFor Public Co. only

• It is mandatory for Pvt. Co. Only

• It is optional W.E.F 29/05/15

Tick all the demerits of a company from the followinig.

• Formalities

• More tax burden

• Limited liability

• Possibility of fraud

Company can be a citizen of country?

• True

• False

• Partially true

• Partially false

Audit of accounts are compulsory in case of comapnies.

• False

• Partially false

• True

• Partially true

The process of forming a company including where it becomes a legal entity is known as ______.

• Incorporation

• A franchise

• Liquidity

• Goodwill