1. The company formed by the special Act of legistures of parliament is known as
a) Public Company
b) registered company
c) statutory company
d) chartered company
2. What is the minimum required paid up capital of a public company
a) 10 lakhs
b) 5 lakhs
c) 15 lakhs
d) 25 lakhs
3. What is the minimum required paid up capital of a private company
a) 1 lakhs
b) 5 lakhs
c) 15 lakhs
d) 2 lakhs
4. What is the minimum number of members to form a private company?
a) 7
b) 2
c) 5
d) 10
5. What is the minimum number of members to form a public company?
a) 7
b) 2
c) 5
d) 10
6. A private company cannot
a) issue shares
b) invite public to subscribe shares
c) be a manufacturing company
d) be a limited company
7. The amount of capital with which the company intends to get registered is known as
a) issued capital
b) subscribed capital
c) called-up capital
d) authorized capital
8. Which of the following statement is false:
a) A company is a legal entity quite distinct from its members
b) A company can buy its own share
c) A shareholder is the agent of the company
d) Same person can agent and creditor of the company
9. Which of the following are the characteristics of a company
a) Liability of the members is limited up to the face value of shares held by them
b) It is a voluntary association of persons
c) A company is a separate body can sue and be sued in its own name
d) Perpetual succession
10. As per section 77A (1) of the companies act,1956, a company can buy back its own shares out of:
a) Reserves which are available for distribution as dividend
b) Securities premium account
c) Proceeds of fresh issue of shares or other specified securities
d) All of the above