Tag: ownership structures - joint stock company

Questions Related to ownership structures - joint stock company

A new company was formed. All the directors appointed in the new company were appointed by XYZ Ltd. Thus the new company is __________ of XYZ Ltd.

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. Holding

  2. Subsidiary

  3. An independent company which has not established business in India.

  4. None of the above.

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Correct Option: B

Which section of Companies Act describes public 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. sec. 3(1) (iii)

  2. see. 3(1) (iv)

  3. sec. 3(1) (ii)

  4. none of the above.

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Correct Option: B

Within _________ months the company formation should be done after the name approval has been received by the 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. 3 months

  2. 3 days

  3. 3 years

  4. No limitation of time

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Correct Option: A

Salomon v. Salomon and Company proved that ____________.

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. Company, is independent person.

  2. A person can be a member as well as creditor.

  3. Shareholder is not liable for the debt of co.

  4. All of the above.

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Correct Option: D

A co. was incorporated outside India before April 1, 1956 and is still having its business in India. It is a ______________________.

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. foreign company

  2. indian company

  3. government Co

  4. none of the above

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Correct Option: A

The companies which are formed under Companies Act. 1956 they will be called as _________________.

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. Chartered companies

  2. Statutory companies

  3. Registered companies

  4. None of these

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Correct Option: C
Explanation:

A Company which is formed and registered under the Companies Act, 2013, including the companies which are earlier registered under any of the previous companies act, are called as the Incorporated or Registered Company.

Can a company keep more than 21 days notice as the minimum requirements for calling AGM?

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. Yes

  2. No

  3. It has to be legal

  4. Both a & c

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Correct Option: A

For public company is should start business only after getting certificate of _______________.

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. Incorporation

  2. Certificate of Commencement of business

  3. Both

  4. None of these

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Correct Option: C
Explanation:

Certificate of incorporation is a legal document required at the time of company formation. It is said to be a license to form a company, issued by the state government or, in some jurisdictions, by non-governmental entity. A public limited company having share capital, can not start its business unless it obtains the certificate of commencement of business from the Registrar of Companies. So a public company required both the certificates to start it's business.

It is required that Public Ltd. Co. should hold the statutory meeting just after getting certificate of commencement.

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. No, can hold after 6 months.

  2. Yes

  3. No, can hold within 6 months

  4. No

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Correct Option: C
Explanation:

A statutory meeting is the first meeting of the shareholders of a public limited company which is held only once in the life-time of the company.  All the companies, those are required to hold Statutory Meeting shall hold its Statutory Meeting within a period of not less than 1 month nor more than 6 months from the date at which the company is entitled to commence business.

Private company can allot shares without receiving minimum subscription

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. Yes

  2. No

  3. Unknown

  4. None of the above

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Correct Option: A
Explanation:

A privately held company, private company, or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members.