A Company Comes into Legal Existence as a Person on Mcq

A Company Comes into Legal Existence as a Person on Mcq

In which document would you find the objects of a company under the Companies Act 2006? 4. The minimum members of the public limited company are: Therefore, the clause on the registered office of the statutes contains the name of the State in which the registered office of the company is to be situated. 8. How many members must sign a partnership agreement with a private company? With regard to the contractual capacity of a company, the ultra-vires doctrine has been abolished. True or false? A company can be founded in one of three ways. Which of the following methods is NOT a valid method for starting a business? A corporation is an artificial legal entity created by a process called “incorporation.” It is only when a company is founded that it becomes a different entity from those who have invested their capital and labor in it. § 25 – Power to waive “Limited” on behalf of a non-profit organization or other corporation. Any association that can be registered as a limited liability company under section 25 of the Companies Act 1956 reserves the right to be exempted from the use of the word “limited” on its behalf. Who has the right to grant such an exception? 10.

The company is managed by the group of persons known as follows: therefore, a company is usually formed by general rules. Option 3 is the correct answer. Under the Companies Act, 2013, a person appointed as auditor of a corporation must sign the auditor`s report or sign or certify any other document of the corporation in accordance with the provisions of subsection 141(2). In Petrodel Resources Ltd v. Prest, which of the following reasons is a valid reason to ignore the independent personality of a company? This is one of the most appropriate forms of business organization when you are doing business on a large scale. A corporation exists only legally and is therefore considered an artificial legal entity. It has its own legal identity after its constitution. In the case of a public limited company, the liability of the shareholders is limited to the value of the unpaid share capital of the company.

Below are some of the corporation`s multiple choice questions and answers that will help students refresh their understanding of the concept of the public company`s corporate form. If an organizer enters into a contract on behalf of an alleged company before that company has not yet been fully formed, the contract is invalid. True or false? A corporation is called the form of corporation organization in which the company`s shares can be bought and sold by the company`s shareholders. There are a number of differences between a publicly traded company and a private company. Which of the following is NOT a valid difference? To read the MCQs on various trading topics of this type, visit here. 2. The word limited must appear after the name of. Answer the following questions, then click “Submit” to get your score.

The case of Salomon v. A Salomon & Co Ltd has established a number of principles. Which of the following principles was not a principle established in Solomon? With regard to the legal set of examples of articles, which of the following statements is NOT true?. In 2002, the Competition Act was enacted and replaced. The term “company” applies to which two types of forms of enterprise?. Schedule III of the Companies Act 2013 sets out the format for the financial statements of companies that comply with accounting standards (AS) and Ind AS. Not-for-profit organizations registered under section 8 of the 2013 Act are required to prepare their income and expense accounts and balance sheet in accordance with ____.___ The issue premium shall be shown in the balance sheet as follows:. Therefore, the supplier, the distributor, the dealer association can be considered Catel. The Companies Act 1956 has been replaced by the Companies Act 2013, and the corresponding section is § 2 (45A).

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