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Quiz 9
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Q.1
A member of a co-operative society can leave the society by _________.
transferring his share to another person without anybodys consent
transferring his share to another person with the consent of the managing committee
transferring his share to a fellow number
withdrawing his capital from the society
Q.2
Which of the following is an example of a company incorporated by a special act of parliament?
Delhi cloth and general mills ltd
Tata iron and steel Co Ltd
Industrial Finance Corporation of India Ltd
Swadesh Cotton Mills Ltd
Q.3
A Government company is one in which ________.
the entire share capital is held by the central and / or state government
50% of capital is held by central government and the remaining 50% by one or more state governments
at least 51% of the capital is held by central and / or state governments
all of above
Q.4
A Company is called an artificial person because _________.
It does not have the shape of a natural person
It cannot be used in the court of law
It is invisible and intangible
It exists only in contemplation of law
Q.5
The liability of members of a co-operative society is _________.
limited to the amount of nominal value of capital held
limited to the amount of paid up value of the capital held
unlimited
limited or unlimited depending upon what the society has opted for it
Q.6
Ploughing back of profits means __________.
earning of black money
dividends not claimed by shareholders
retaining the earnings
not paying dividends in a particular year
Q.7
Which of the following securities is not redeemable?
Equity shares
Preference shares
Cumulative preference shares
Debentures
Q.8
Preference shares are those which carry preferential right in respect of __________.
dividends
repayment of capital
both dividend and repayment of capital
right to vote on all important motions in AGM
Q.9
The maximum number of partners in a firm carrying on banking business is_________.
7
10
50
20
Q.10
The agreement of partnership _______.
Must be oral
Must be in writing
Can be either oral or in writing
Must be in writing on a stamp paper
Q.11
Dividend on preference capital will be paid _________.
only when there are profits
even if there are no profits
only when directors recommend
only when share holders recommend
Q.12
A public corporation means _________.
Public company
Government company
Statutory corporation
Department of union government
Q.13
A nominal partner is ______.
not entitled to share the profits of the concern
entitled to equal share in the profits unless there is an agreement to any other profit sharing ratio
not liable for the acts of other partners
not able to third parties
Q.14
The minimum number of members in a private limited company is _________.
2
3
7
10
Q.15
Membership of a co-operative is_________.
compulsory
voluntary
not essential
not compulsory
Q.16
The minimum number of members required for registration of a co-operative society is ________.
2
7
10
20
Q.17
Business means ________.
Commerce
Industry and commerce
Trade and commerce
Selling and buying of goods
Q.18
Which of the following is not an economic activity?
A doctor practicing
A lawyer practicing law
A professional cricketer playing cricket
A student playing cricket
Q.19
Liability of partners in respect of the firms debts is _______.
limited up to the amount of his capital in the business
Unlimited
limited up to the amount of guarantee given by the partner
limited up the amount of his capital and loan to the firm if any
Q.20
A partner in a firm _______.
cannot transfer his share to an outsider
can transfer his share to an outsider with the consent of majority partners
can transfer his share to an outsider without the consent of any other partners
can transfer his share to an outsider with the consent of all other partners
Q.21
A manager with a share in the profits ______.
is only a servant of the firm
becomes a partner by the operation of law
becomes a partner by implied agreement
becomes a partner from status
Q.22
The partnership entity is __________.
legal entity
legal entity and accountable entity
neither entity nor accountable entity
group of individuals without legal status
Q.23
A Joint stock company is governed by _______.
Companies Act 2006
Companies Act 1936
Companies Act 2012
Companies Act 2013
Q.24
Memorandum of association of a firm contains _______.
rules regarding the internal management of the company
rules regarding the constitution and activities of the company
rules regarding the external management
rules regarding the constitution
Q.25
Sole-trade organization is also called as ______.
Individual proprietorship
Partnership
Joint stock company
Co-operative society
Q.26
Who is dormant partner?
One who takes no active part in business
A working partner
Partner for profits
Minor partner
Q.27
Which of the following is an extractive industry?
Cattle breeding
Forest cultivation
Hunting
Flour mills
Q.28
Which of the following is not a manufacturing industry?
Iron and steel works
Flour Mills
Fruit canning
Mining
Q.29
A valid definition of a business purpose is to ______.
Create a customer
Maximize profits
Serve the society
Increase the wealth of the firm
Q.30
The liability of shareholders of a public company is limited to the _________.
nominal value of shares
extent of their private assets
paid up value of shares
accounts called up
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