| MCQS | EACH QUESTIONS HAS FOUR POSSIBLE ANSWERS CHOOSE THE CORRECT ANSWER: (T) Means TRUE Answer |
| (1) | In Pakistan the companies are registered under: |
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| (a) Company Act, 1913(b) Partnership Act, 1932 (c) Companies ordinance, 1984 (T)
(d) Cooperative Act, 1928
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| (2) | A company is formed by |
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| (a) Owners (b) Promoters(T)(c) Directors (d) Government |
| (3) | A company is managed by: |
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| (a) Owners (b) Promoters(c) Directors (T) (d) Public |
| (4) | The word limited should be after the name of: |
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| (a) Chartered company (b) Statutory company(c) Registered company (T) (d) Partnership |
| (5) | The face value of share is called: |
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| (a) Book value (b) Par value (T)(c) Market value (d) None of them |
| (6) | Ordinary shares are also called: |
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| (a) Equity shares(T) (b) Founders shares(c) Deferred shares (d) Preference shares |
| (7) | Deferred shares are generally issued to: |
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| (a) Promoters (T) (b) Managing agents(c) General Public (d) Government |
| (8) | According to Pakistan companies ordinance, 1984 the amount to those applications who were allotted no shares should be refunded within: |
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| (a) Ten days (T) (b) Twenty days(c) Thirty days (d) Ninety days |
| (9) | The minimum members in private limited company are: |
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| (a) 2 (T) (b) 7(c) 10 (d) 20 |
| (10) | The minimum members in public limited company are: |
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| (a) 2 (b) 7 (T)(c) 20 (d) 50 |
| (11) | The maximum number of members in private limited company are: |
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| (a) 20 (b) 30(c) 50 (T) (d) Unlimited |
| (12) | The maximum number of members in public limited company are: |
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| (a) 50 (b) 20(c) 10 (d) Unlimited (T) |
| (13) | Discount on share is shown in the balance sheet as an: |
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| (a) Asset (T)(b) Liability (c) Deduction in paid up capital
(d) Deducted from asset side
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| (14) | Share premium is shown in the balance sheet as an: |
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| (a) Asset(b) Liability (T) (c) Deduction in paid up capital
(d) Deducted form asset side.
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| (15) | According to the Pakistan companies ordinance, 1984, the shares can be issued payable: |
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| (a) In full on application (T) (b) By installments(c) Both of them (d) None of them |
| (16) | The person who takes the risk of issuing shares are known as: |
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| (a) Directors (b) Promoters(c) Public (d) Under writers (T) |
| (17) | A private company has to provide in its articles: |
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| (a) For restricting transfer of its shares. (T)(b) For prohibiting transfer of its shares (c) For permitting free transfer of shares
(d) None of the above.
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| (18) | A prospectus for shares can be issued only by: |
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| (a) Public Ltd. Co (T) (b) Private Ltd, Co(c) Statutory company (d) Chartered company |
| (19) | Share premium money can be used for: |
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| (a) Payment of dividend(b) Writing of good will (c) Issue of fully paid bonus shares (T)
(d) Payment of debentures
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| (20) | Discount on issue of shares account being a loss of: |
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| (a) Capital (T) (b) Revenue(c) Expenditure (d) None of above |
| (21) | Share capital in the balance sheet is shown under: |
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| (a) Asset (b) Liability (T)(c) Income (d) Resource |
| (22) | Preliminary expenses is: |
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| (a) Current asset (b) Current liability(c) Fictitious asset (T) (d) None current liability |
| (23) | Debenture holders are the: |
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| (a) Owners (b) Creditor (T)(c) Directors (d) Suppliers |
| (24) | Debenture holder receive: |
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| (a) Fixed interest(T) (b) Dividend(c) Profit (d) None of them |
| (25) | Debenture can be issued at: |
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| (a) At par (b) At discount(c) At premium (d) All of them (T) |
| (26) | A limited company can issue shares at a discount not exceeding: |
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| (a) 5% (b) 10% (T)(c) 20% (d) 25% |
| (27) | Memorandum of association of private limited company is signed by: |
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| (a) Auditors (b) Managers(c) Secretary (d) Promoters (T) |
| (28) | A private invitation to the public to purchase the shares of company is called: |
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| (a) Prospectus (T)(b) Audit report (c) Articles of association
(d) Memorandum of association
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| (29) | A document which givens the company’s relationship with out side world is called. |
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| (a) Articles of association(b) Memorandum of association (T) (c) Prospectus
(d) Statement in lieu of prospectus
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| (30) | A document which contains the rules and regulations for the internal management of the company is called: |
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| (a) Articles of association (T)(b) Prospectus (c) Memorandum of association
(d) Statement in lieu of prospectus
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| (31) | The official signature of a company is called: |
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| (a) Shares (b) Debentures(c) Common seal (T) (d) prospectus |
| (32) | Joint stock company is an artificial person created by: |
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| (a) Law (T) (b) Registrar(c) Employees (d) Provincial Govt. |
| (33) | The company is managed by the group of persons known as: |
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| (a) Board of directors (T) (b) Group of members(c) None (d) Team of shareholders |
| (34) | A share of public company is: |
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| (a) Non - refundable (b) Non – transferable(c) Transferable (T) (d) Not allotable |
| (35) | A particular amount of money used in business for the purpose of earning profit revenue is known as: |
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| (a) Profit (b) Debenture(c) Share (d) Capital (T) |
| (36) | The power of the company are governed by the: |
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| (a) Shareholders(b) Prospectus (c) Articles of association
(d) Memorandum of association (T)
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| (37) | Capital of the company is fixed by: |
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| (a) Public (b) General secretary(c) Auditors (d) Memorandum (T) |
| (38) | Association is not for profit is registered under companies ordinance: |
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| (a) Section 42 (T) (b) Section 48(c) Section 318 (d) Section 24 |
| (39) | Audit of the accounts of company is: |
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| (a) Optional (b) Compulsory (T) (c) Restricted (d) As per requirement |
| (40) | Total amount of capital in case of company is divided into small units, these units are called: |
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| (a) Bonds (b) Cheques(c) Shares (T) (d) Reserve |
| (41) | The value of share as quoted on stock exchange, is said to be: |
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| (a) Per value (b) Book value(c) Cost value (d) Market value (T) |
| (42) | Distribution of earning to the shareholder rest with board or directors, are called: |
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| (a) Reserve (b) Capital(c) Income (d) Dividends(T) |
| (43) | Discount on issue of share account being a loss of: |
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| (a) Capital (T) (b) Reserve(c) Expenditure (d) Revenue |
| (44) | Normally discount on issue of share should not exceed |
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| (a) 5% (b) 8%(c) 20% (d) 10% (T) |
| (45) | Debentures are also termed as: |
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| (a) Certificate of credit (b) Bonds (T)(c) Dividend (d) Bonus |
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