CBSE Questions for Class 11 Commerce Business Studies Formation Of A Company Quiz 2 - MCQExams.com

The elected representatives of shareholders who manage company are called_________.
  • director
  • secretary
  • promoter
  • investor
Common seal is the emblem or signature of a company.
  • True
  • False
A company has perpetual succession.
  • True
  • False
The signature of a company is the common seal.
  • True
  • False
The ________ are elected representatives of shareholders to manage affairs of the company.
  • Auditors
  • Secretary
  • Directors
  • None of these
Those persons who take initiative in the formation of a joint stock company are called _____________.
  • promoters
  • investors
  • shareholders
  • All of above
State the following statement is True or False:
A person who gives guarantee of raising minimum subscription is an underwriter.
  • True
  • False
State  the following statement is True of False:
Directors are the owners of the company.
  • True
  • False
After receipt of __________, a public company will be able to start its business.
  • Trading Certificate
  • Certificate of Incorporation
  • Prospectus
  • None of these
State  the following statement is True of False:
The Company Secretary is the member of the company.
  • True
  • False
State the following statement is True or False:
When a company is registered with the Registrar of Companies, it obtains the Certificate of Incorporation.
  • True
  • False
An _____________ gives guarantee to purchase unsold shares.
  • Underwriter
  • Auditor
  • Entrepreneur
  • None of these
The promoters are __________ of the company.
  • shareholders
  • directors
  • pioneers
  • none of these
Write a word or a term or a phrase which can substitute the following statement.
The person who initiates scheme of formation of company.
  • Investor
  • Promoter
  • Shareholder
  • Proprietor
Write a word or a term or a phrase which can substitute the following statement.
A certificate issued after registration of company.
  • Certificate of Incorporation
  • Share Certificate
  • Certificate of trade
  • None of these
The winding up proceedings of a company are conducted by the official liquidator.
  • True
  • False
Advisory committee shall consist of not more than _________ members.
  • five
  • seven
  • nine
  • ten
To complete winding up procedure of a company _________ is appointed.
  • Registrar of Companies
  • Official Liquidator
  • Regional Directors
  • None of these
The chairman must be present within 15 minutes from the scheduled time of the meeting.
  • True
  • False
Select the option from the option choices given in below and re-write the completed sentences:
The _________ is almost an unalterable document.
  • memorandum
  • articles
  • prospectus
  • none of the above
'Table A' acts as a silent salesman of the company. 
  • True
  • False
The Memorandum of Association is an unalterable document.
  • True
  • False
State the following statement is True or False:
Articles of Association acts as the charter of the company. 
  • True
  • False
State with reasons whether the following statements are True or False:
Any clause of memorandum can be altered easily. 
  • True
  • False
For alteration in the Articles, ___ resolution is required.
  • ordinary
  • special
  • circular
  • None of these
A document which contains the rules and regulations regarding internal management of a company is _____________.
  • Prospectus
  • Articles of Association
  • Memorandum of Association
  • All of above
State with reasons whether the following statements are True or False:
Memorandum of Association is a subordinate document. 
  • True
  • False
The document that contains the constitution of the company is _________.
  • Article of Association
  • Prospectus
  • Memorandum of Association
  • None of these
State the following statement is True or False:
Object clause of Memorandum of Association states aims and objects of a company.
  • True
  • False
A Memorandum should be signed by at least ______ persons in case of public company.
  • two
  • four
  • six
  • seven
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