Joint Stock Company Test 4

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Joint Stock Company Test 4

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Weekly Quiz Competition

Question 1
1 / -0

A business organisation registered under the Companies Act of 1956 is a _____ .

A
Partnership firm

B
Sole proprietorship

C
Joint stock company

D
Government organisation

Solution

A business organisation registered under the Companies act 1956 is a Joint stock company. All the companies have to register itself with registrars under the Companies act 1956. It has been recently amended in the year 2013.
Question 2
1 / -0

The third stage in the formation of a Joint Stock Company is ____________.

A
incorporation

B
capital raising

C
promotion

D
investment

Solution

The third stage in the formation of Joint stock company is Capital subscription or raising. At this step, a company is allowed to raise their funds from general public by issuing shares and debentures. But before that it has to issue a prospectus for the public to subscribe to the capital of company.
Question 3
1 / -0

The managing body of a Joint Stock Company is the ________ .

A
Directors

B
Board of Directors

C
Shareholders

D
None of these

Solution

A joint stock company is managed by the board of directors who are elected by the shareholders. All the shareholders are entitled to vote in the decision making process. Board of directors holds company's shares in a huge lot and have powers in the management of the business.
Question 4
1 / -0

Fill in the blanks:
The constitution of a joint stock company is called _______.

A
memorandum of association

B
articles of association

C
table A

D
None of these

Solution

Memorandum of Association is the constitution of Joint stock company. It directs or instructs joint stock company. The joint stock company runs in accordance with the memorandum of association. Activities of the joint stock company are directed by the Memorandum of Association. Memorandum of association is regarded as a blueprint as it is needed for the incorporation of the joint stock company. Memorandum of Association is submitted to Company Registrar Office. Basic information and provision of the company are clearly mentioned in the memorandum of association. It defines scopes, objectives, functions of the joint stock company.
Question 5
1 / -0

Select the correct option given below :
The management of a joint stock company is vested in the ____________.

A
Director

B
Board of directors

C
Manager

D
All of above

Solution

Option B is the correct answer.
The management of a joint stock company is vested in the Board of Directors.
Question 6
1 / -0

The term company is defined in section _______ of the Companies Act, $$2013$$.

A
$$2$$

B
$$3(1)(i)$$

C
$$3(2)$$

D
$$4$$

Solution

As per section 2 of the Companies Act, 2013 a company is a company as created under the Companies Act, 2013 or any other previous companies act.
Question 7
1 / -0

Write a word, term or a phrase which can substitute each of the following statements:
A report to be submitted to the Registrar according to Section 165.

A
Annual report

B
Statutory report

C
Trade report

D
None of these

Solution

According to section 165 of the companies act 1965 the company has to file statutory report to registrar.
Question 8
1 / -0

In India Companies are governed by ________.

A
Indian partnership act, $$1932$$

B
Companies act, $$1956$$ as amended from time to time

C
Societies registration act

D
all of the above

Solution

In India companies are governed by the companies act, 1956 amended from time to time. The provisions of the act will apply to:
i) Any body corporate registered under the act.
ii) Insurance company except the ones registered under the insurance act 1938.
iii) Banking company except the ones registered under the Banking company act. 1949.
iv) Company supplying electricity and is not registered in the electricity generation act 1948.
Question 9
1 / -0

A company pays dividend on its....

A
Paid up value of share capital

B
Called up value of share capital

C
Subscribed capital

D
Issued capital

Solution

Option A is the correct aswer.
Question 10
1 / -0

Company is a/an ______ association of persons

A
voluntary

B
compulsory

C
legal

D
chance

Solution

Option A is the correct answer.

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Re-Attempt Weekly Quiz Competition

Joint Stock Company Test 4

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Joint Stock Company Test 4

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SHARING IS CARING

Question 1

Partnership firm

Sole proprietorship

Joint stock company

Government organisation

Solution

Question 2

incorporation

capital raising

promotion

investment

Solution

Question 3

Directors

Board of Directors

Shareholders

None of these

Solution

Question 4

memorandum of association

articles of association

table A

None of these

Solution

Question 5

Director

Board of directors

Manager

All of above

Solution

Question 6

$$2$$

$$3(1)(i)$$

$$3(2)$$

$$4$$

Solution

Question 7

Annual report

Statutory report

Trade report

None of these

Solution

Question 8

Indian partnership act, $$1932$$

Companies act, $$1956$$ as amended from time to time

Societies registration act

all of the above

Solution

Question 9

Paid up value of share capital

Called up value of share capital

Subscribed capital

Issued capital

Solution

Question 10

voluntary

compulsory

legal

chance

Solution

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