Corporate Legal Framework

The maximum number of members in a private company, according to the Companies Act, 2013, is:

• 20

• 50

• 100

• 200

Which of the following is the document that contains the rules and regulations for the internal management of the company?

• MOA

• AOA

• Prospectus

• Statement in Lieu of Prospectus

Who is the drawer of a cheque?

• The bank where the cheque is drawn

• The person who signs the cheque

• The person to whom the cheque is payable

• The person who accepts the cheque

What is the primary purpose of the Memorandum of Association (MOA)?

• To outline the company's internal rules

• To define the company's objectives and scope

• To provide details about the company's shareholders

• To disclose financial information to the public

According to the Companies Act, 2013, what is the minimum number of directors required for a public company?

• 1

• 2

• 3

• 5

What is the role of the payee in a cheque transaction?

• The person who issues the cheque

• The person who receives the payment

• The bank that processes the cheque

• The person who endorses the cheque

A post-dated cheque is:

• A cheque dated after the day it is presented

• A cheque with no date

• A cheque issued to a stranger

• A cheque with a past date

What is the maximum validity period of a cheque in India from the date of issue?

• 1 Month

• 3 Month

• 6 Month

• 1 Year

A "stale" cheque is one that:

• Has been lost

• Is older than its validity period

• Is post-dated

• Has been dishonored

Which of the following is necessary for a cheque to be valid?

• It must be dated

• It must be in writing

• It must be signed by the drawer

• All of the above