Tag: introduction to companies

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

Section 3(1) of Companies Act, 2013 defines the term _________.

  1. director

  2. OPC

  3. dormant company

  4. small company
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Section 3(1) of the Companies Act, 2013, outlines the formation of a company, including the specific provision for the formation of a One Person Company (OPC).

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

As per Companies Act, 2013 a dormant company is ___________.

  1. company registered for further product

  2. inactive company

  3. no significant accounting transactions

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A dormant company under the Companies Act, 2013, is one that has been formed for a future project, has no significant accounting transactions, or is inactive. Therefore, all these descriptions apply.

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

Small company is _________.

  1. public company

  2. other than a Public company

  3. holding company

  4. company registered under section 8
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A small company is defined by its paid-up capital and turnover thresholds and is specifically a private company, meaning it is other than a public company.

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

Section 2(62) of the companies Act, 2013 has provisions related to ___________.

  1. Small Company

  2. One Person Company

  3. Resident director

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Section 2(62) of the Companies Act, 2013, provides the definition and provisions related to a One Person Company (OPC).

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

A private company cannot have more than _______

  1. 250 members including past and present employee members

  2. 200 members including past and present employee members

  3. 500 members excluding past and present employee members

  4. 500 members including past and present employee members
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under the Companies Act, 2013, the maximum number of members for a private company is 200, excluding past and present employee members.

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

A Company is having 1500 shareholders. As per Companies Act, 2013 it __________.

  1. may maintain records in electronic form

  2. compulsorily maintain records in electronic form

  3. there is no provision for maintaining of records as per Company Act, 2013

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Companies with a large number of members (typically 200 or more) are often required to maintain records in electronic form under the Companies Act, 2013.

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

Secretarial Audit is compulsory for _____________.

  1. listed company

  2. companies having, paid up capital of Rs.100 crore

  3. public company

  4. both a and b
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Secretarial Audit is mandatory for listed companies and certain public companies based on paid-up capital or turnover thresholds.