Tag: business studies

Questions Related to business studies

A company has to file annual return for 31st March, 2015 which form it will fill?

memorandum of understanding and articles of association company business studies

  1. MGT-7 as per Companies Act, 2013

  2. MGT- 7 as per Companies Act, 1956

  3. Form 23 as per Companies Act, 1956

  4. Form 23 as per Companies Act, 2013

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Correct Option: A

In a company maximum time difference between two board meetings is _________.

memorandum of understanding and articles of association company business studies

  1. 3 months

  2. 4 months

  3. 5 months

  4. 6 months

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Correct Option: B
Explanation:
Minimum 4 (four) meetings have to be held each year, with a gap of not more than 120 (one hundred and twenty) days between 2 (two) board meetings.

Which company gives its members a right to transfer his shares?

memorandum of understanding and articles of association company business studies

  1. Public

  2. Private

  3. Government

  4. None

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Correct Option: A
Explanation:
In the case of Public Limited Company, the shares are freely transferable but it is not so in private limited company.

In a company who conceives the idea of the business?

memorandum of understanding and articles of association company business studies

  1. Promoters

  2. Auditors

  3. Directors

  4. Shareholders

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Correct Option: A

Preferential shareholders can call meeting in which situation?

memorandum of understanding and articles of association company business studies

  1. Curfew

  2. Emergency

  3. Bomb blast

  4. None of the above

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Correct Option: D
Explanation:
As per section 48 of Companies Act, 2013 class meetings are held by preferential shareholders. Class meeting are basically held for taking consent of a particular class of shareholders. Through this meeting, the rights and privileges of the shareholders can be altered, or conversion of one class to another can be done.

As per section 2(41) of the Companies Act, 2013 financial year of the Company is ________.

memorandum of understanding and articles of association company business studies

  1. from April to March

  2. from January to December

  3. to be decided on individual basis

  4. based on the incorporation date of Company

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Correct Option: A

The corporate veil can be lifted___.

memorandum of understanding and articles of association company business studies

  1. For determining the true status of the company

  2. In order to determine whether it was an enemy company

  3. Where the company fails to pay taxes and duties

  4. All of the above

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Correct Option: D

If company does not follow the principle of separate legal entity, _______ can be done.

memorandum of understanding and articles of association company business studies

  1. Principle of natural justice

  2. Principle of equity

  3. Lifting of corporate veil

  4. Principle of unjust enrichment

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Correct Option: C

The corporate veil can be lifted__.

memorandum of understanding and articles of association company business studies

  1. Where the corporate veil has been used for proper & legal purpose

  2. Where the corporation is really an agency or trust for someone else and the corporate facade is used to cover up that agency or trust

  3. Where the company is incurring continuous losses

  4. When company restricts the right to transfer its shares

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Correct Option: B

The net worth of a company is rupees five hundred crore in the year 2012-13. In the financial year 2014-15 its net worth is less than five hundred crore. As per Companies Act, 2013 it will need to constitute CSR Committee and comply with provisions of 135(2) to (5) in the year ________.

memorandum of understanding and articles of association company business studies

  1. 2014-15

  2. 2015-16

  3. 2013-14

  4. 2016-17

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Correct Option: A