Tag: companies act, 2013 - introduction and characteristics

Questions Related to companies act, 2013 - introduction and characteristics

According to the Section 203 of the Companies Act, 2013 which of the following persons has been covered under term 'Whole-time KMP'?

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. Company Secretary

  2. Chartered Accountant

  3. Civil Engineer

  4. Promoter

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Correct Option: A

According to the provisions of Companies Act, 2013 atleast what percent of the average net profits of the company shall be spend in pursuance of CSR activities?

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. 10 percent

  2. 8 percent

  3. 3 percent

  4. 2 percent

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Correct Option: D

Secretary has a power to give casting vote.

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. True

  2. False

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Correct Option: B
Explanation:

Secretary does not have a power to cast a vote. He/she is not included in the voting power in the board meeting. 

Memorandum of association contains which of the following?

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. Place of registered office of the company

  2. Objective of the company

  3. Amount of registered share capital

  4. All of the given options.

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Correct Option: D

The seal of a company acts as its signature.

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. True

  2. False

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Correct Option: A
Explanation:

Common Seal is the official signature of the company and each company shall have only one seal, on its incorporation.

 Common Seal is the signature of the company to any document on which it is affixed and binds the company for all obligations undertaken in the document

According to the Companies Act, 2013 the term 'Bonds' are treated as long term borrowings, but these shall be stated in ____________.

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. ascending order of maturity or conversion

  2. descending order of maturity or conversion

  3. either ascending or descending order of maturity

  4. on the basis of LIFO method

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Correct Option: B

If any _______ is present while forming the agency then the relationship of agency becomes contractual.

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. consideration

  2. law

  3. emotion

  4. affection

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Correct Option: A

Tender is ______.

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. an offer

  2. an invitation to offer

  3. a counter offer

  4. a promise

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Correct Option: B

Which one of the following is known as owners of a company?

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. Debenture holders

  2. Board of Directors

  3. Shareholders

  4. Partners

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Correct Option: C

_________ have homogeneous members.

business organisation and correspondence companies act, 2013 - introduction and characteristics introduction to companies companies act, 2013 company

  1. Partnership Firm

  2. Company

  3. Cooperatives

  4. Hindu Undivided Family

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Correct Option: D