Tag: introduction to public sector organisations

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Multiple choice 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

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

  1. fifty eight

  2. sixty

  3. sixty seven

  4. sixty two
Reveal answer Fill a bubble to check yourself
C Correct answer
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. 

Multiple choice 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

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

  1. sixty

  2. sixty five

  3. sixty seven

  4. sixty two
Reveal answer Fill a bubble to check yourself
B Correct answer
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. 

Multiple choice 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

Ministry of corporate affairs has appointed _________ regional directors.

  1. three

  2. four

  3. six

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

Regional directors are present in companies that are organized by location and have their departments under that. They are responsible for the operations for their particular area. The ministry of corporate affairs has appointed seven Regional Directors who are in-charge of the respective regions, each region comprising a number of States and Union Territories. They supervise the working of the offices of the Registrars of Companies and the Official Liquidators working in their regions.

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

State the following statement is True or False:
A public company can commence (start) its business only after obtaining the trading certificate.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
A public company, has to goes through the capital subscription stage and then receives the certificate of commencement. Only after obtaining the trading certificate, a public company can commence its business.
Multiple choice elements of business joint stock company - formation meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

State the following statement is True or False:
A public company can start business after getting 'Trading Certificate'.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

 A public company can start business after getting "trading certificate". Without trading certificate, all the contracts would be considered void in the eyes of law and operations of business cannot be carried out.

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

State the following statement is True or False:
Underwriter purchase unsold shares of the company.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

It is true. A company must have an underwriter, who helps the companies in introducing their securities to the market. An underwriter is required to sell securities and if he is not able to sell, then underwriter is liable to purchase the unsold shares of the company.

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

Legal controls, restrictions are more & strict on public companies ____________.

  1. True

  2. False

  3. Not relevant

  4. Nothing applicable
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Public companies are subject to more stringent regulatory oversight, disclosure requirements, and legal controls compared to private companies to protect public investors.

Multiple choice 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

State the following statement is True or False:
Minimum subscription is guaranteed by the directors.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Minimum subscription is not guaranteed by the directors. Minimum subscription refers to the minimum shares the company needs to get subscribed from the general public.

Presently, every company needs to raise 90% of the issued capital. Else the company shall refund the whole amount received.

Multiple choice 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

State the following statement is True or False:
Shareholders take initiative to form a company.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

It is not true that shareholders take initiative to form a company. Shareholders are the one who invests in the company and helps in the capital formation of company. Entrepreneur initiates to form a company with the help of Promoters.

Multiple choice 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

State the following statement is True or False:
The certificate required by public limited company to start business activities is the certificate of commencement of business.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A public limited company must obtain a certificate of commencement of business from the Registrar of Companies before it can start its business operations.