Tag: public sector, private sector and global enterprises

Questions Related to public sector, private sector and global enterprises

In normal trading circumstances, which of the following would not be found in partner's capital account?

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Drawings

  2. Interest on revaluation

  3. Profit on revaluation

  4. None of the above

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Correct Option: A

In a private Ltd. co. at the time of incorporation there were 48 members. After than 1 employee joined having 15 debentures and having 2 shares. Did the company Crossed the maximum limit.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Yes

  2. No

  3. Nothing written in law about it

  4. None of the above

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Correct Option: B
Explanation:

A private company is the one which has a minimum paid up share capital of Rs. 100000 or such higher capital as prescribed by the Companies Act. Its Article of association mentions that the company restricts the right to transfer its shares; limits the number of its members from 2 to 50.

Thus it is clear that the company did not crossed its maximum limit as there will be 49 members only.

Registrar information is required in case of conversion of _________________.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Private to public

  2. Public to private

  3. Both a & b

  4. None of the above

Show answer
Correct Option: A
Explanation:

To take that future advantage many public   companies are converting themselves into Private Companies. Section 13 and section 14 of the Companies Act. A public company can be converted into private company only after obtaining its shareholder approval by way of passing of special resolution in general meeting.

Minimum number of directors in case of private company is _________.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. $1$

  2. $2$

  3. $3$

  4. $4$

Show answer
Correct Option: B
Explanation:

The Companies Act prescribed minimum 2 directors for a private and 3 for a public company respectively to constitute a Board.

Committee which provides advise to the Central Government and National Company Law Tribunal is Advisory Committee.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. True

  2. False

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Correct Option: A
Explanation:

Advisory committee is the committee which provides advice to the central government and national company law tribunal to deal with various matters.

Name the head of National Company Law Tribunal.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Chief Minister

  2. Prime Minister

  3. President

  4. All of above

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Correct Option: C

The number of people below the poverty line in India are more than  _____.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. 150 million

  2. 200 million

  3. 220 million

  4. 250 million

Show answer
Correct Option: D
Explanation:

The Indian government stated 22% of its population is below its official poverty limit. The World Bank, in 2011 based on 2005's PPPs International Comparison Program, estimated 23.6% of Indian population, or about 276 million people, lived below $1.25 per day on purchasing power parity.

The number of members in National Company Law Tribunal shall not exceed ________.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. fifty two

  2. sixty

  3. forty two

  4. twenty two

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Correct Option: B
Explanation:

The National Company Law Tribunal will be constituted of as per the provisions under Section 10FC a President and an Equal number of Judicial and Technical member as the Central Governement deems fit to be appointed by way of notification in the official gazette. The total number of members in the Tribunal however cannot at any point of time exceed 60 in number. 

Maximum age for president of National Company Law Tribunal is ________ years.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. fifty eight

  2. sixty

  3. sixty seven

  4. sixty two

Show answer
Correct Option: C
Explanation:

According to section 409 of Companies Act, 2013 the President shall be a person who is or has been a Judge of a High Court for five years. The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re – appointment for another term of five years. The president of the NCLT shall hold office until he attains the age of sixty-seven years. A person who has not completed fifty years of age shall not be eligible for appointment as Member. 

Maximum age for members of National Company Law Tribunal is _______ years.

organisation of commerce and management public sector, private sector and global enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. sixty

  2. sixty five

  3. sixty seven

  4. sixty two

Show answer
Correct Option: B
Explanation:

According to guidelines of National Company Law Tribunal (NCLT),Every Member shall hold office for a period of five years from the date on which he/she enters upon his/her office, but shall be eligible for re-appointment for another term of 5 years. The term of appointment is, however, subject to the maximum age limit of sixtyfive years.