Tag: business studies

Quizzes (322) Questions (660)

Questions Related to business studies

Multiple choice memorandum of understanding and articles of association company business studies

Final accounts of companies are prepaid according to_________of the companies Act,2013.

  1. Schedule VI

  2. Schedule V

  3. Schedule II

  4. Schedule III
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Schedule III of the Companies Act, 2013, provides the format for the preparation of the Balance Sheet and Statement of Profit and Loss for companies.

Multiple choice memorandum of understanding and articles of association company business studies

Power/ duties of Auditors apply _______to Company Secretary in Practice conducting secretarial audit.

  1. Mutatis Mutandis

  2. Mutains Mutandis

  3. Mutatis Mutantis

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Latin phrase 'mutatis mutandis' means 'with the necessary changes having been made', which is standard legal terminology when applying rules from one context to a similar one.

Multiple choice memorandum of understanding and articles of association company business studies

The 'Doctrine of Indoor Management' provides protection to the ___________.

  1. Board of Directors

  2. Shareholders

  3. Managing Director

  4. Outsiders
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In simple words, the doctrine of indoor management means that a company's interior associations are the company's difficulty. As a result, this regulation of interior organization is important to people dealing with a company through its directors or other persons. 

Where the doctrine of productive notice protects a company against outsiders, the doctrine of indoor management protects outsiders against the actions of a company. This doctrine also is a feasible safeguard against the possibility of abusing the doctrine of productive notice.

Thus, the correct option is D.

Multiple choice memorandum of understanding and articles of association company business studies

A company can change its name, by passing _________.

  1. ordinary resolution

  2. special resolution

  3. board resolution

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Changing a company's name requires an amendment to the Memorandum of Association, which must be approved by the shareholders through a special resolution.

Multiple choice memorandum of understanding and articles of association company business studies

Which is NOT a feature of an incorporated company?

  1. Transferability of shares

  2. Limited liability

  3. Common seal

  4. It is an agent
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An incorporated company is a separate legal entity. It acts through its directors and agents, but it is not an agent of its shareholders; the company itself is the principal.

Multiple choice memorandum of understanding and articles of association company business studies

The persons who are in charge of the management of affairs of a company are termed as directors. They are collectively known as ________.

  1. shareholders

  2. employees

  3. board of directors

  4. either a or b
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
Section 2(10) of the Companies Act, 2013 defined that Board of Directors or Board, in relation to a company, means the collective body of the directors of the company.

Multiple choice memorandum of understanding and articles of association company business studies

What is full form of CSR?

  1. Corporate social responsibility

  2. Company sales revenue

  3. Company social responsibility

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

CSR stands for Corporate Social Responsibility, which refers to a company's initiatives to assess and take responsibility for its effects on environmental and social wellbeing.

Multiple choice memorandum of understanding and articles of association company business studies

Which of the following cases clearly established that 2 company has a separate legal entity?

  1. Salomon v Salomon and Co. Ltd.

  2. Sultan and Co. Ltd. v Sultan

  3. Connors Bros v Connors

  4. FOSS V Harbottle
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The landmark case Salomon v Salomon and Co. Ltd. established the principle of separate legal entity, confirming that a company is distinct from its members.