The Board of directors of a company is elected by _________

(a)

Creditors

(b)

Debtors

(c)

Debenture holders

(d)

Share holders (members)

Companies established as a result of a charter granted by the King or Queen of a country is called ____________

(a)

Chartered companies

(b)

Statutory companies

(c)

Registered companies

(d)

Foreign companies

A _________ is a distinct legal entity.

(a)

Company

(b)

Organisation

(c)

Business

(d)

None of these

__________ in a Company are freely transferable.

(a)

Members

(b)

Shares

(c)

Both

(d)

None of these

Registration of a Joint Stock Company is ________

(a)

Compulsory

(b)

Optional

(c)

Compulsory for Public Limited Companies and Optional for Private Limited Companies

(d)

Optional for Public Limited Companies and compulsory for Private Limited Companies.

A preference share has priority in_____________.

(a)

dividend only

(b)

only in return of capital at the time of winding up

(c)

voting rights

(d)

Both dividend and return of capital on winding up

Shares can be forfeited for________.

(a)

non-payment of any debt due to the company

(b)

not attending three annual general meetings consecutively

(c)

for non-payment of call money

(d)

for violent activities at the annual general meetings

Where the shares are issued at a discount and the nominal value of share is Rs.100 the maximum discount that can be allowed is ____________

(a)

Rs.5

(b)

Rs.10

(c)

Rs.20

(d)

Rs.15

If the issue price of the share is less than the face value, it is______________.

(a)

share discount

(b)

share premium

(c)

over subscription

(d)

minimum subscription

What are the different types of companies?

Explain any two characteristics of a company.

What is meant by Chartered Company?

What does the Articles of Association deal with?

What is the Significance of the common seal of the Company?

What are the advantages of Companies?(Any 3)

What is meant by Foreign Company?

What is Memorandum of Association?

What is Articles of Association?

What do you mean by Domestic Companies?

What is meant by Multi National Company?

What is meant by Holding and Subsidiary company?

Enumerate the advantages of company.(Any five).