Company Basic Concepts
Generally partnership firm liability is:
Limited
Unlimited
Situation does not arise
None of these
Unlimited
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In the case of Company Audit is:A. Compulsory
B. Optional
C. None of these
D. A and b
If minimum subscription is not received application money should be refunded within ________days.
A. 20
B. 25
C. 30
D. 10
The term company is defined under which sec of the Act?
A. Sec 3(1)
B. Sec 4(2)
C. Sec 2(4)
D. Sec 1(3)
Minimum number of members in case of private company is:
A. 1
B. 2
C. 3
D. None of these
The liability of members if company is limited by guarantee:
A. Unpaid value of shares
B. Guarantee amount
C. Unlimited liability
D. None of these
Minimum paid up share capital in case of a private company is ________
A. 1 lakh
B. 2 lakhs
C. 3 lakhs
D. 4 lakhs
Minimum number of members in case of public company:
A. 1
B. 2
C. 5
D. 7
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