Business Law (MCQs) Set-1
Categories: EDUCATION
Q.1. The winding up in which a solvency declaration is not made is known as ______
- Creditors voluntary winding up
- Members voluntary winding up
- Compulsory winding up
- None of the above
Answer: (A) Creditors voluntary winding up
Q.2. On a winding up order being made, the co9mpany’s property comes under the custody of ________
- Central Government
- Tribunal
- Share holders
- Liquidator
Answer: (D) Liquidator
Q.3. The charter of a company is its ______
- Articles of Association
- Prospectus
- Memorandum of Association
- Certificate of incorporation
Answer: (C) Memorandum of Association
Q.4. The doctrine of indoor management provides protection to _____
- The outsider
- The Board of Directors
- The Share holders
- The managing directors
Answer: (A) The outsider
Q.5. Minutes of company meeting should e prepared with in ____ of the meeting
- 21 days
- 30 days
- 40 days
- 45 days
Answer: (B) 30 days
Q.6. Official liquidators are appointed from the panel of _____
- Professional firm of Chartered Accountant
- Advocate
- Company Secretaries
- All of the above
Answer: (D) All of the above
Q.7. A company is a ______ of a person who have come together for a common object which generally is to earn profit
- Artificial person
- Voluntary Association
- Incorporate Association
- All of these.
Answer: (D) All of these.
Q.8. Mean any premises including precincts thereof
- Industry
- Factory
- Company
- Workmen
Answer: (B) Factory
Q.9. Companies limited by _____ are not formed for the purpose of profit but for the promotion of art, science, culture, charity, sports, commerce etc.
- Members
- Shares
- Liability
- Guarantee
Answer: (D) Guarantee
Q.100. During which of the following circumstances can the veil be lifted by the court?
- Where the Co acts as an agent
- Where a fund is noticed
- When the company tries to avoid certain legal obligation
- All of the above.
Answer: (D) All of the above.