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Level 1: CA Inter Law – Part I – Chapter 1- Preliminary MCQs Set II

Corporate and Other Laws Level 1: CA Inter Law – Part I – Chapter 1- Preliminary MCQs Set II

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Question 1 of 38

1. Question
Holding company is defined u/s _________________
- 2(46)
- 2(87)
- 2(22)
- 2(92)
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Question 2 of 38

2. Question
Holding company means company holding ____ in the subsidiary company?
- More than 3/4th voting power
- More than 1/2nd voting power
- More than 3/4th profit share
- More than 1/2nd profit share
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Question 3 of 38

3. Question
Subsidiary company is defined u/s ______________
- 2(46)
- 2(87)
- 2(22)
- 2(92)
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Question 4 of 38

4. Question
What is the maximum number of layers in case of holding and subsidiary companies?
- 3
- 2
- 1
- 5
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Question 5 of 38

5. Question
ABC Ltd is company having 5 subsidiaries, is this allowed by the law, to have 5 subsidiaries
- No, company can’t have more than 2 subsidiaries
- Yes, it is allowable, restriction is for layers
- Board can decide on it
- No, companies law strictly denies for this
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Question 6 of 38

6. Question
ABC Ltd is a company having A Ltd and B Ltd as subsidiary. ABC Ltd wants to acquire shares having more than 50% voting right of C Ltd. C Ltd is having D Ltd as subsidiary and D Ltd is having E Ltd as subsidiary. Can ABC Ltd. Acquire shares having >50% voting rights of C Ltd.?
- Yes, company can absolutely do this
- Yes, there is no any restriction
- No, because C Ltd has already 2 layers of subsidiary
- No, company have already 2 subsidiary A Ltd and B Ltd
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Question 7 of 38

7. Question
ABC Ltd. is having 5 layers of subsidiary companies, before commencing the rule giving restriction. company shall file with the registrar a return in form ________________ for this purpose.
- CRL – 1
- CRL – 2
- CRL – 3
- CRL – 4
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Question 8 of 38

8. Question
ABC Ltd. Is having 5 layers of subsidiary companies, before commencing the rule giving restriction, company shall file with the registrar a return in form CRL – 1 for this purpose, within __________________ time from the date of publication of this rule in official gazette.
- 100 days
- 150 days
- 30 days
- 180 days
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Question 9 of 38

9. Question
ABC Ltd. Is having 5 layers of subsidiary companies, before commencing the rule giving restriction. Company sold shares of one company from them, and now it has 4 layers of subsidiaries. Company can now have maximum ____________ layers of subsidiaries.
- 5 layers
- 4 layers
- Maximum number of layers allowed by law i.e., 2
- B or C, whichever is more i.e., 4
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Question 10 of 38

10. Question
ABC Ltd. Wants to purchase shares having more than 50% voting right of Company – A, incorporated outside India, this company has already 2 layers of subsidiary company. Can ABC Ltd. Purchase stack in Company – A?
- Yes, but as per the laws of that country
- No, it is denied in law
- Yes, but after taking authorisation from government of that country
- No, every company has restriction as per this rule
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Question 11 of 38

11. Question
Shares held by a company, of another company in a “fiduciary capacity” shall ___________
- Not be counted to determine holding subsidiary relation
- Shall be counted for the purpose of holding subsidiary relation
- CG will decide whether to count or not
- None of the above
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Question 12 of 38

12. Question
If company makes in default in relation to maximum number of layers, company and every officer in default shall be liable for fine minimum ___________ and if it continues then ____________ per day
- 10k, 1k
- 1k,10k
- 1 lakh, 10k
- 10 lakhs, 1 lakh
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Question 13 of 38

13. Question
Associate company is defined u/s ____________
- 2(60)
- 2(6)
- 2(33)
- 2(42)
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Question 14 of 38

14. Question
A Ltd. having significant influence in another company. This A Ltd. is known as _______________
- Subsidiary company
- Holding company
- Associate company
- None
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Question 15 of 38

15. Question
Significant influence means control of at least _______________of voting power or control of participation in business decision.
- 10%
- 20%
- 30%
- 50%
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Question 16 of 38

16. Question
Foreign company is defined u/s _______________
- 2(60)
- 2(6)
- 2(33)
- 2(42)
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Question 17 of 38

17. Question
Company incorporated outside India, and having place of business in India by any mode, whether itself or by its agent, is known as ______________
- Alien company
- Foreign company
- Unknown company
- Associated company
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Question 18 of 38

18. Question
If a foreign company is doing business electronically in India, as per law, the server must be installed at ___________
- In India
- Outside India
- whether in India or outside India
- None
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Question 19 of 38

19. Question
ABC Ltd. Has no physical place of business in India. But having online business in India. Whether this company will be treated as foreign company?
- Yes, this will be counted as a place of business in India
- No, there must be physical place of business
- Yes, but only if server is situated in India
- None
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Question 20 of 38

20. Question
Company which has any of its securities listed on stock market is known as ________________
- Listed company
- Unlisted company
- Private company
- Public company
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Question 21 of 38

21. Question
Government company is defined u/s __________
- 2(45)
- 2(46)
- 2(50)
- 2(51)
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Question 22 of 38

22. Question
Government company means company in which not less than ___________ is held by Government
- 51% of voting right
- 51% of paid-up share capital
- 51% of total capital
- 51% profit right
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Question 23 of 38

23. Question
Body corporate does not include _________.
- Co – operative society
- LLP
- Company
- None, all are body corporate
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Question 24 of 38

24. Question
Provision of dormant company is given under which section?
- Section – 400
- Section – 455
- Section – 420
- Section – 410
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Question 25 of 38

25. Question
Dormant company is ________________
- A new company
- An inactive company
- An active company
- None
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Question 26 of 38

26. Question
Inactive company means a company _______-
- Which has not been carrying on any business or operation
- Which has not made any significant accounting transaction during at least 2 FYs
- Which has not filed FS and annual returns during the last 2 FYs
- Any of the above
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Question 27 of 38

27. Question
Significant transaction means any transaction other than ___________
- Payment of fees by company to registrar
- Payment made by it to fulfil the requirements of this law or other law
- Allotment of shares to fulfil the requirement of this law
- Any of the above
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Question 28 of 38

28. Question
Provision of Nidhi company is given under which section?
- 455
- 406
- 410
- 416
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Question 29 of 38

29. Question
Nidhi means a company incorporated for the objective of ___________
- Cultivation the habit of thrift and savings among members
- Receiving deposits from members, and lending to its members only
- For their mutual benefits and which complies with rules prescribed by CG
- All of the above
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Question 30 of 38

30. Question
Choose correct option from below considering the following statements.
Statement – 1: company can enjoy rights of a citizen
Statement – 2: company can enjoy rights of a person
- Statement – 1 correct, Statement – 2 correct
- Statement – 1 incorrect, Statement – 2 incorrect
- Statement – 1 correct, Statement – 2 incorrect
- Statement – 1 incorrect, Statement – 2 correct
Correct

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Question 31 of 38

31. Question
Prohibition of association or partnership of persons exceeding certain number is given under which section?
- 464
- 474
- 484
- 494
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Question 32 of 38

32. Question
What is the limit of persons as per section 464, for partnership or AOP?
- 100
- 50
- 45
- 75
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Question 33 of 38

33. Question
Where any AOP or partnership firm is carrying business with more then 50 persons, every member shall be liable for –
- Fine which may extend to Rs. 1 lakh
- Shall be liable for all liabilities incurred in such business
- Both a and b
- Either a or b
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Question 34 of 38

34. Question
Provision of restriction on persons carrying business is not applicable to ___________
- HUF
- AOP formed by professionals governed by special laws
- LLP
- a or b both
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Question 35 of 38

35. Question
Any association can use word “Limited” or “private limited” only if
- Association is company as company as defined u/s 2(20)
- It is a limited company
- Both a and b
- Either a or b
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Question 36 of 38

36. Question
What is the minimum and maximum amount of fine for every day, if company is using word “Limited” or “Private Limited” without having right to use…?
- 5k,20k
- 500, 2k
- 50k, 2 lakhs
- 10k, 1 lakh
Correct

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Question 37 of 38

37. Question
ABC is an association of person and it is associated with a business. Here there is 4 HUF consisting 60 major members and 10 minor members. This AOP is __________________
- Valid
- Illegal
- Legal
- Void
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Question 38 of 38

38. Question
Paid up share capital and turn over of ABC Ltd is Rs. 30 lakhs and 1 crore respectively, ABC Ltd is a wholly owned subsidiary of BAC Ltd. Choose correct option from below-
- ABC Ltd is a small company because it fulfils condition of sec. – 2(85)
- ABC Ltd is not small company, since it is subsidiary of a company
- ABC Ltd is not small company because it does not exceed limit
- None
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Corporate and Other Laws

Level 1: CA Inter Law – Part I – Chapter 1- Preliminary MCQs Set II

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