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Joint Stock Company Model Question Paper

11th Standard

    Reg.No. :
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Commerce

Time : 01:00:00 Hrs
Total Marks : 50
    5 x 1 = 5
  1. The Minimum subscription specified in the prospectus must be received within

    (a)

    60 days

    (b)

    90 days

    (c)

    120 days

    (d)

    150 days

  2. ________ companies are established by the King or Queen of a Country.

    (a)

    Chartered

    (b)

    Statutory

    (c)

    Public

    (d)

    Private

  3. Any contract entered into a company to be valid must _____________

    (a)

    be accepted by the board members

    (b)

    be recognised by the Government

    (c)

    be registered with the registrar of companies

    (d)

    bear the official seal of the Company

  4. Domestic Companies are those that have been registered under the ____________

    (a)

    Companies Act of 1956 or Earlier Acts

    (b)

    Partnership Act

    (c)

    Indian Regulations Act

    (d)

    None of these

  5. The existence of a company comes to a close:

    (a)

    On the death of all its promoters

    (b)

    On the death of all the directors of the Board

    (c)

    On transfer of shares by most of its original members

    (d)

    None of the above

  6. 5 x 2 = 10
  7. What is meant by Memorandum of Association?

  8. What is meant of Articles of Association?

  9. What is Situation clause?

  10. What is Objective clause?

  11. What is stated in the situation clause in a memorandum?

  12. 5 x 3 = 15
  13. What is Memorandum of Association?

  14. What is meant by Joint and Several Liability?

  15. What do you mean by Company limited by Guarantee?

  16. What is meant by perpetual succession?

  17. Give the meaning of share.

  18. 4 x 5 = 20
  19. Classify the Companies According to its Incorporation.

  20. Ashok is an industrial designer by training. He had the opportunity to learn the technology of fibre glass manufacture while he was in Germany for his training. He plans to set up a plant for the manufacture of fibre glass in India and is able to interest some financiers and technologists. It is estimated that the initial investment in the plant will be of the order of Rs 50 lakhs. Ashok and others decide to set up a company for the purpose. Should they set up a public limited company for the purpose? If so, how should they go about it? If not, what-alternative would you suggest? What formalities will be required of Ashok and his associates if they choose the alternative form of organization suggested by you?

  21. What are the disadvantages of company?

  22. Bring out the distinction between a company and partnership?

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