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Thread: MCQ‛S Question Bank - Law.

  1. #21
    arisha
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    Thumbs up Company Basic Concepts.

    Q. 21. The liability of members if company is limited by shares

    a) Unpaid value of shares
    b) Guarantee amount
    c) Unlimited liability
    d) None of the above

    Ans. a) Unpaid value of shares.

  2. #22
    arisha
    Guest

    Thumbs up Company Basic Concepts.

    Q.22. XYZ Company conducted an AGM on 1 st Sept.2007. On that day due to fire accident in the hall.
    All shareholders died. Will the company will be in existence.

    a) Yes
    b) No

    Ans. a) Yes.

  3. #23
    arisha
    Guest

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    Q.23. Company’s owners are shareholders. So the company property belongs to the share holders. Do you agree with this statement?

    a) Yes
    b) No

    Ans. b) No.

  4. #24
    arisha
    Guest

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    Q.24. Company will have fundamental rights.

    a) True
    b) False

    Ans. b) False.

  5. #25
    arisha
    Guest

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    Q.25. XYZ Company shares are totally held by government. The company will be government.

    a) True
    b) False

    Ans. b) False.

  6. #26
    arisha
    Guest

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    Q.26. If the company failed to refund application money with in 130 days from the date of issue of prospectus on non receipt of minimum subscription who will be personally liable.

    a) Company
    b) Directors
    c) Shareholders
    d) None of these

    Ans. b) Directors.

  7. #27
    arisha
    Guest

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    Q.27. Transfer of shares in the company is

    a) Restricted
    b) Freely transferable
    c) Prohibited
    d) None of these

    Ans. b) Freely transferable.

  8. #28
    arisha
    Guest

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    Q.28. Transfer of shares in the partnership firm is

    a) Restricted
    b) Freely transferable
    c) Prohibited
    d) None of these

    Ans. a) Restricted.

  9. #29
    arisha
    Guest

    Thumbs up Company Basic Concepts.

    Q.29. Generally Company liability is

    a) Limited
    b) Unlimited
    c) Situation does not arise

    Ans. a) Limited.

  10. #30
    arisha
    Guest

    Thumbs up Company Basic Concepts.

    Q.30. Generally partnership firm liability is

    a) Limited
    b) Unlimited
    c) Situation does not arise

    Ans. b) Unlimited.

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