Tag: ownership structures - joint stock company

Questions Related to ownership structures - joint stock company

What is the maximum number of partners involved in the non-banking organisation in India?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. 100

  2. 15

  3. 20

  4. 7

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Correct Option: A
Explanation:

The maximum number of partners as per Companies Act, 2013 can be 100.

Which of the following statement about most public limited companies is true?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. They are owned and controlled by the employees

  2. They are owned by the directors but controlled by the shareholders

  3. They are owned by shareholders but controlled by directors

  4. They are owned and controlled by the promoters

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Correct Option: B
Explanation:

Public limited companies are the companies which are owned by the state government. They work for the society at large. They are owned by the directors of the company. The directors appoints shareholders who manages all the operations of the company.

Minimum paid up share capital in case of a public company is _______.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. 1 Lakh

  2. 3 Lakhs

  3. 5 Lakhs

  4. 7 Lakhs

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Correct Option: C
Explanation:

According to the provisions of the Indian Companies Act, 2013, minimum paid up share capital in case of a public company is Rs. 5 lakhs.

Maximum no. of members in case of public company is _________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. 0

  2. Unlimited

  3. 50

  4. 100

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Correct Option: B
Explanation:

According to the provisions of the Indian companies act, 2013, maximum no. of members in case of public company is unlimited.

The companies are governed by the Indian Companies Act _____________________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Indian Companies Act, $2013$

  2. Indian Companies Act, $1957$

  3. Indian Companies Act, $1958$

  4. Indian Companies Act, $1959$

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Correct Option: A

The maximum number of members in a public company are _____.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. $20$

  2. $50$

  3. $70$

  4. There is no limit

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Correct Option: D

Which option is NOT suitable for winding up of a company?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Dissolving or winding up by agreement.

  2. Dissolving or winding up by law.

  3. Dissolving or winding up by creditors with the help of law.

  4. Dissolving or winding up by members with the help of law.

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Correct Option: A

Which is NOT a feature of an incorporated company?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Transferability of shares.

  2. Limited liability

  3. Common seal

  4. It is an agent

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Correct Option: D

Which one of the following statements in respect of a public limited company is correct?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. There can be less than 7 members.

  2. The convent of directors and their contract to purchase qualificationshares, if any, required must be filed.

  3. Remuneration of directors is not controlled by any provision of companies Act

  4. None of the above

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Correct Option: B

Number of months the company can continue its business u/s 45__________________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. 1

  2. 2

  3. 5

  4. 6

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Correct Option: D