S.Y.B.Com Business Law MCQ PDF

S.Y.B.com Business Law 1. The minimum number of members to form a Private Limited Company is a. 1 b. 2 c. 7 d. 5 ANS: B   2. The minimum number of members to form a Public Limited Company is a. 1 b. 2 c. 7 d. 5 ANS: C   3. The maximum number of members to form a Private Limited Company is… a. 50 b. 100 c. 150 d. 200 ANS: D   4. The maximum number of members to form a Public Limited Company is… a. 50 b. 100 c. 200 d. No Limit ANS: D   5. The Life Insurance Corporation (LIC) is following type of Company.. a. Chartered Company b. Statutory Company c. Government Company d. Foreign Company ANS: B   6. The Oil and Natural Gas Corporation Ltd (ONGC) is following type of Company.. a. Chartered Company b. Statutory Company c. Government Company d. Foreign Company Chetana’s ANS: C   7. Which of the following is not the feature of Private Limited Company? a. Minimum 2 Directors b. Restriction for invitation to public c. Issue of Prospectus d. Less compliances ANS: C   8. Which of the following is not the feature of Public Limited Company? a. Minimum 3 Directors b. Restriction for invitation to public c. Issue of Prospectus d. More compliances ANS: B   9. Which doctrine protects “Company against Outsiders”? a. Doctrine of Ultra Vires b. Doctrine of Constructive Notice c. Doctrine of Indoor Management d. Doctrine of Lifting of Corporate Veil ANS: B   10. Authorized capital is also known as…. a. Issued Capital b. Nominal capital c. Subscribed capital d. Called up capital ANS: B   11. Offer of securities or invitation to subscribe securities under private placement shall be made to ——————–maximum number of person in the aggregate in a financial year. a. 50 b. 100 c. 150 d. 200 ANS: D   12. Shelf prospectus remains valid upto a. 6 months b. 1 year c. 2 years d. 5 years Chetana’s ANS: B   13. A company can change terms of contracts mentioned in prospectus by way of: a. Ordinary resolution though postal ballot b. Ordinary resolution in meeting c. Special resolution in meeting d. Special resolution through postal ballot ANS: D   14. Which one of the following is not the content of the Memorandum of Association? a. Name clause b. Registered office clause c. Objects clause d. Board of Directors clause ANS: D   15. Only a natural person who is an Indian citizen and who has stayed in India for a period of at least _____ days during the immediately preceding one calendar year shall be eligible to incorporate a OPC. a. 180 days b. 181 days c. 182 days d. 183 days ANS: C   16. Ultra vires loans granted by the company are a. Void b. Voidable c. Valid d. Illegal ANS: A   17. A subsidiary of a government company is also treated as a a. Government Company b. Public Company c. Private Company d. All of the above ANS: A   18. Age limit of Directors in case of private company is ___________ a. 65 b. 70 Chetana’s c. 75 d. No limit ANS: D   19. Every company shall file with Registrar a copy of the annual return, within _______ days from the date on which annual general meeting is held. a. 50 b. 75 c. 60 d. 90 ANS: C   20. An independent director who has tendered resignation from the Board shall be replaced by a new independent director within ———— from the date of such resignation. a. one month b. two months c. three months d. four months ANS: B   21. A shareholder holding shares of nominal value of not more than ———— is a small shareholder. a. 5 ,000 b. 10,000 c. 15,000 d. 20,000 ANS: D   22. A person appointed as a director is required to give his written consent ———————– to the company. a. on or before his appointment as director b. within 10 days of his appointment as director c. within 20 days of his appointment as director d. None of the above ANS: A   23. An independent director shall hold office for a term up to ————- on the Board of a company. a. three consecutive years b. four consecutive years c. five consecutive years d. None of the above Chetana’s ANS: C   24. Every company is required to furnish Director Identification Numbers of all its directors to the Registrar within ————- of the receipt of intimation regarding DIN from the directors. a. ten days b. fifteen days c. twenty days d. thirty days ANS: B   25. A person is permitted to hold office as director (including any alternate directorship) in maximum twenty companies of which maximum number of public companies in which he can be appointed as director shall not exceed ————. a. Five b. Eight c. Ten d. 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