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CA Foundation Companiesact — practice questions

Explore 14 free Companiesact questions in CA Foundation Businesslaw. Open each question or exercise to read its content, reference answers and available explanation.

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Companiesact questions and exercises with answers

Showing questions 1–14 of 14.

The Companies Act, 2013 consists of:Read the answer and worked solution →Under Section 2(20), a 'company' means a company:Read the answer and worked solution →In a company limited by shares, the liability of a member is limited to:Read the answer and worked solution →In a company limited by guarantee, the members' liability to contribute the guaranteed amount arises:Read the answer and worked solution →Following the Companies (Amendment) Act, 2015, a common seal for a company is:Read the answer and worked solution →The minimum number of members is ___ for a private company and ___ for a public company.Read the answer and worked solution →A public company's maximum number of members is:Read the answer and worked solution →Under Section 2(62), a One Person Company (OPC):Read the answer and worked solution →Under Section 2(92), an 'unlimited company' is one:Read the answer and worked solution →Under Section 2(45), a 'Government company' is one in which not less than ___ of the paid-up share capital is held by the Government.Read the answer and worked solution →Under Section 2(52), a 'listed company' is one which:Read the answer and worked solution →'Paid-up capital' is equal to:Read the answer and worked solution →Under Section 43, the share capital of a company limited by shares is of two kinds:Read the answer and worked solution →CA Foundation · Businesslaw · Companies Act — True / FalseRead the answer and worked solution →

Worked practice questions

The Companies Act, 2013 consists of:

  1. 470 sections and 7 schedules
  2. 81 sections and 4 schedules
  3. 658 sections and 15 schedules
  4. 238 sections and 1 schedule
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Correct answer: A. 470 sections and 7 schedules

The Companies Act, 2013 contains 470 sections, 7 schedules and is divided into 29 chapters, replacing the Companies Act, 1956.

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Under Section 2(20), a 'company' means a company:

  1. Carrying on any business for profit
  2. Having limited liability only
  3. Incorporated under this Act or under any previous company law
  4. With at least seven members
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Correct answer: C. Incorporated under this Act or under any previous company law

Section 2(20) defines a company as one incorporated under the Companies Act, 2013 or under any previous company law.

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In a company limited by shares, the liability of a member is limited to:

  1. The amount, if any, unpaid on the shares held by him
  2. The company's total debts
  3. A sum guaranteed in the memorandum
  4. His entire personal property
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Correct answer: A. The amount, if any, unpaid on the shares held by him

In a company limited by shares, a member can be called on to pay only the unpaid amount on his shares his separate property is not liable.

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More Businesslaw topics

Negotiable Instruments Act 1881Nature of ContractsAgencyThe Limited Liability Partnership Act 2008PartnershipContract of Indemnity and GuaranteeBreach of Contract and its RemediesPerformance of Contract