Financial Questions and Answers

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Q1
The minimum paid-up share capital for a public company shall be-
  • A Rs. 1 lakh
  • B Rs. 2 lakhs
  • C Rs. 3 lakhs
  • D Rs. 5 lakhs
Answer: Option D
Q2
Internal activity of a company is going to be performed according to established regulations. This assumption is provided as a right by-
  • A Doctrine of Indoor Management
  • B Doctrine of Constructive Notice
  • C Doctrine of Ultravires
  • D Doctrine of Intravires
Answer: Option A
Q3
A public company can start its business operations after getting-
  • A Certificate of Incorporation
  • B Minimum Subscription
  • C Certificate of Commencement of Business
  • D Permission of the Controller of Capital Issue
Answer: Option C
Q4
Under Section 275 of the Companies’ Act, 1956 a person can become director in public company of not more than-
  • A 5 companies
  • B 10 companies
  • C 15 companies
  • D 20 companies
Answer: Option C
Q5
Articles of Association can be altered by passing-
  • A An ordinary resolution in Annual General Meeting
  • B A special resolution in Annual General Meeting
  • C A resolution with special notice
  • D Without any resolution
Answer: Option B
Q6
In case of Board Meetings the Quorum must be present-
  • A At the commencement of the meeting
  • B At the termination of the meeting
  • C Throughout the meeting
  • D At the commencement and termination both
Answer: Option A
Q7
In a public company the minimum number for having a Quorum in a meeting is-
  • A 2
  • B 3
  • C 5
  • D 7
Answer: Option C
Q8
The capital issues of public limited companies are subject to guidelines issued by-
  • A Reserve Bank of India
  • B Central Government
  • C Central Bank of India
  • D Securities & Exchange Board of India (SEBI)
Answer: Option D
Q9
Disinvestment of shares means-
  • A To sale the shares of private company to public
  • B To sale the shares of public company to the public
  • C To sale the shares of Government company to the public
  • D To sale of shares by holding company to its subsidiary company
Answer: Option B
Q10
When the existing companies raise additional funds by issue of shares to the existing shareholders in proportion to their existing shareholdings, it is called-
  • A Buyback of shares
  • B Issue of shares at premium
  • C Issue of shares at discount
  • D Right shares issue
Answer: Option D

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