Companies Act, 2013 One Mark Online Test

Companies Act, 2013 One Mark Online Test (12th Standard Commerce)

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The Company will have to issue the notice of situation of Registered Office to the Registrar of Companies within _____ days from the date of incorporation.

A.14 days B.21 days C.30 Days D.60 Days

How does a person who envisages the idea to form a company called?

A.Director B.Company Secretary C.Registrar D.Promoter

Which of the following types of shares are issued by a company to raise capital from the existing shareholders?

A.Equity Shares B.Rights Shares C.Preference Shares D.Bonus Shares

The shares which are offered to the existing shareholder at free of cost is known as ___________.

A.Bonus Share B.Equity Share C.Right Share D.Preference Share

The shares which are offered first to the existing shareholder at reduced price is known as _____________.

A.Bonus Share B.Equity Share C.Right Share D.Preference Share

The East India Company was established in the year 1600 by

A.an Act of Parliament B.a Royal Charter C.the Joint Stock Companies Act D.a Merchant Guild

Arrange the following events in the history of company law in chronological order.
1. Indian Companies Act introducing private companies
2. English Joint Stock Companies Act passed for the first time
3. Companies Act 1956 came into force
4. Provision for registration of joint stock companies in India

A.2, 4, 1, 3 B.4, 2, 1, 3 C.2, 1, 4, 3 D.4, 2, 3, 1

Which of the following statements about the amendments to the Companies Act 1956 are correct?
1. The Company Law Board was abolished and the National Company Law Tribunal was formed.
2. Rehabilitation of sick companies is now done by the NCLT instead of the BIFR.
3. The Sick Industrial Companies Act 1985 still governs the revival of sick companies.

A.1 and 2 only B.2 and 3 only C.1 and 3 only D.1, 2 and 3

The Companies Act 2013 received the assent of the President on

A.18th December, 2012 B.8th August, 2013 C.29th August, 2013 D.1st April, 2013

Q10

The Companies Act 2013 consists of

A.13 chapters, 658 sections and 15 schedules B.29 chapters, 470 sections and 7 schedules C.29 chapters, 658 sections and 7 schedules D.13 chapters, 470 sections and 15 schedules

Q11

Under the Companies Act 2013, a private company can have a maximum of

A.50 members B.100 members C.200 members D.500 members

Q12

Which of the following is NOT listed as a Key Managerial Person under Section 2(51) of the Companies Act 2013?

A.Company Secretary B.Chief Financial Officer C.Whole-time Director D.Statutory Auditor

Q13

The word 'corporation' is derived from a Latin word which means

A.bread B.body C.together D.trade

Q14

Public corporations such as LIC, RBI and SBI have been brought into existence through

A.the Companies Act, 1956 B.special Acts of Parliament C.a Royal Charter D.the Companies Act, 2013

Q15

According to Section 2(11) of the Companies Act 2013, which of the following is NOT included in the term 'body corporate'?

A.One Person Company B.Foreign company incorporated outside India C.A co-operative society registered under co-operative law D.Limited Liability Partnership

Q16

Under Section 3(1) of the Companies Act 2013, the minimum number of persons required to form a public company is

A.one B.two C.five D.seven

Q17

Assertion (A): A private company can start its business immediately after registration.
Reason (R): Only promotion and registration are necessary for a private company; capital subscription and commencement of business are additional stages for a public company.

A.Both A and R are true and R is the correct explanation of A B.Both A and R are true but R is not the correct explanation of A C.A is true but R is false D.A is false but R is true

Q18

A company's share capital of Rs.10,00,000 is divided into shares of Rs.100 each. How many shares does it have?

A.1,000 B.10,000 C.1,00,000 D.10,00,000

Q19

Preference shares that can be converted into equity shares after a time period or as per the conditions laid down in the terms are called

A.Cumulative preference shares B.Participating preference shares C.Convertible preference shares D.Redeemable preference shares

Q20

Preference shares that have a right to share in the surplus profits remaining after the equity shareholders are paid are

A.Participating preference shares B.Non-participating preference shares C.Non-cumulative preference shares D.Non-redeemable preference shares

Q21

Companies with infrastructure projects may issue preference shares for more than 20 years but up to

A.25 years B.30 years C.35 years D.40 years

Q22

A share with a face value of Rs.10 is issued at Rs.12. The share is said to be issued at

A.par B.a premium C.a discount D.a bonus

Q23

Which of the following is NOT a permitted use of the Securities Premium Account according to the lesson?

A.Writing off preliminary expenses B.Writing off expenses, commission or discount on issue of shares or debentures C.Distributing dividend to shareholders D.Providing for premium payable on redemption of redeemable preference shares

Q24

Under the Companies Act 2013, which shares alone may be issued at a discount?

A.Equity shares B.Bonus shares C.Right shares D.Sweat equity shares

Q25

Bonus shares can be issued by a company by

A.making partly paid-up shares fully paid, or issuing new shares B.offering shares to the public at a premium C.converting debentures into shares D.issuing share warrants to bearers

Q26

A company issues the share certificate under its common seal within how many months of the allotment of shares?

A.One month B.Two months C.Three months D.Six months

Q27

If a public company wants to issue share warrants, whose prior approval is required?

A.Registrar of Companies B.Central Government C.National Company Law Tribunal D.Board of Directors

Q28

Stock is created by a company by converting

A.partly paid shares B.fully paid shares C.debentures D.share warrants

Q29

According to Section 2(30) of the Companies Act 2013, 'debenture' includes

A.debenture stock, bonds or any other instrument of a company evidencing a debt B.only secured loans taken from banks C.equity shares with differential voting rights D.fixed deposits accepted from the public

Q30

Which of the following statements about debentures are correct?
1. Debenture holders are creditors of the company.
2. Debenture holders enjoy voting rights.
3. Debentures may be either secured or unsecured.
4. Interest on debentures is a tax-deductible expenditure.

A.1, 2 and 3 only B.1, 3 and 4 only C.2, 3 and 4 only D.1, 2, 3 and 4

Q31

Debentures that are fully converted into equity shares at the issuer's notice, after which the investors enjoy the status of ordinary shareholders, are

A.Non Convertible Debentures B.Partly Convertible Debentures C.Fully Convertible Debentures D.Optionally Convertible Debentures

Q32

Match the basis of classification of debentures with a type under it.
(a) Convertibility - (i) Bearer debentures
(b) Security - (ii) Irredeemable debentures
(c) Redemption - (iii) Unsecured debentures
(d) Registration - (iv) Optionally convertible debentures

A.(a)-(iv), (b)-(iii), (c)-(ii), (d)-(i) B.(a)-(iii), (b)-(iv), (c)-(i), (d)-(ii) C.(a)-(iv), (b)-(ii), (c)-(iii), (d)-(i) D.(a)-(i), (b)-(iii), (c)-(ii), (d)-(iv)

Q33

Which of the following is a difference between shares and debentures given in the book?

A.Shares carry a charge on the company's assets, debentures do not B.Shareholders get a fixed rate of interest, debenture holders get a varying dividend C.Interest on debentures is payable even if there are no profits, even out of capital, whereas dividend is paid only out of profits D.Debenture holders enjoy voting rights, shareholders do not

Q34

Which of the following is listed as a Navratna company in the lesson?

A.Hindustan Aeronautics Limited (HAL) B.National Thermal Power Corporation (NTPC) C.Oil and Natural Gas Corporation (ONGC) D.Steel Authority of India Limited (SAIL)

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About this Companies Act, 2013 test

This free online practice test covers Companies Act, 2013 from the 12th Standard Commerce (Samacheer Kalvi) syllabus. Choose the number of questions and an optional time limit, then answer and submit — everything is checked in your browser, with the correct answers and a worked explanation shown at the end. For the full solutions to every question in this set, see the solved MCQs page.

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