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Multiple Choice Questions---Companies Ordinance 1984/ Corporate Law/ Company Law for ACMA (ICMAP) & CA Students--Rehan Aziz Shervani----Abdul Wahid Ali (Co-researcher)

Multiple Choice Questions---Companies Ordinance 1984/ Corporate Law/ Company Law for ACMA (ICMAP) & CA Students--Rehan Aziz Shervani----Abdul Wahid Ali (Co-researcher)

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Published by: Rehan Shervani on Dec 25, 2012
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Companies Ordinance 1984/CorporateLaw/Company Law for ACMA (ICMAP) & CAStudents
 — 
Multiple Choice Questions & Answers
 — 
Rehan Aziz Shervani
 — 
(AdvocateHigh Court)-0333-4324961
 — 
ICMAP Class-StageIV- Section A
Answers are in green color.
 
1.
 
ARTICLES OF ASSOCIATION ARE:I.
 
MANDATORYII.
 
NECESSARYIII.
 
OPTIONALIV.
 
NONE2.
 
ARTICLES OF ASSOCIATION ARE FOR:I.
 
EXTERNAL AFFAIRS OF A COMPANYII.
 
INTERNAL AFFAIRS OF A COMPANYIII.
 
BOTH i) & ii)IV.
 
Public company3.
 
FOR AN ASSOCIATED COMPANY,MINIMUM NO OF SHARES WHICH SHOULD BE DIRECTLY ORINDIRECTLY CONTROLLED BY A PERSON:I.
 
15%II.
 
10%III.
 
20%IV.
 
50%4.
 
IF A COMPANY OR UNDERTAKING IS SUBSIDAIRY OF ANOTHER THEN IT IS:I.
 
PRIVATE COMPANYII.
 
PUBLIC COMPANYIII.
 
ASSOCIATED COMPANYIV.
 
ALL OF THE ABOVE5.
 
IF A PERSON IS THE OWNER OF OR DIRECTOR IN A COMPANY OR UNDERTAKING OR WHO SOCONROLS SHARES NOT LESS THEN 10% OF:I.
 
GOVERNING POWERII.
 
RULING POWERIII.
 
VOTING POWERIV.
 
ALL OF THE ABOVE6.
 
A BODY CORPORATE OR CORPORATION IS A COMPANY:I.
 
INCORPORATED OUTSIDE THE PAKISTANII.
 
INSIDE THE PAKISTAN
 
III.
 
LISTED ON STOCK EXCHANGEIV.
 
NONE OF THE ABOVE7.
 
OFFICIAL GAZETTE IS A:I.
 
NEWSPAPERII.
 
CIRCULARIII.
 
OFFICIAL NEWSPAPERIV.
 
ADVERTISEMENT8.
 
BOOK AND PAPER OR BOOKS OF ACCOUNT ARE:I.
 
SAMEII.
 
DIFFERENTIII.
 
NONEIV.
 
ANYTHING CONTAINED INFORMATION ABOUT THE COMPANY9.
 
CHIEF EXECUTIVE IS ENTRUSTED:I.
 
WHOLE POWERS OF MANAGEMENTII.
 
SUBSTABTIALLY THE WHOLE POWERS OF MANAGEMENTIII.
 
BOTH i) & ii)IV.
 
NONE OF THE ABOVE10.
 
IF A COMPANY IS INCORPORATED BEFORE 1984,THEN IT IS:I.
 
HOLDING COMPANYII.
 
SUBSIDIARY COMPANYIII.
 
EXISTING COMPANYIV.
 
ASSOCIATED COMPANY11.
 
COMPANY LIMITED BY SHARES MEANS A COMPANY HAVING THE LAIBILITY OF ITS MEMBERS:I.
 
LIMITED TO THE AMOUNT,IF ANY,UNPAID ON THE SHARES RESPECTIVELY HELD BYTHEMII.
 
UNLIMITED TO THE AMOUNT,IF ANY,UNPAID ON SHARES RESPECTIVELY HELD BY THEM.III.
 
SPECIFIC LIABILITYIV.
 
NONE OF THE ABOVE12.
 
DEBENTURES ARE:I.
 
DEBT SECURITIESII.
 
EQUITY SECURITIESIII.
 
BOTH i) & ii)IV.
 
NONE13.
 
ANY PERSON OCCUPYING THE POSITION OF A DIRECTOR IS:I.
 
NOT DIRECTORII.
 
DIRECTORIII.
 
CHIEF EXECUTIVEIV.
 
OFFICER14.
 
SUMMONS,NOTICE,REQUITION,ETC ARE:I.
 
BOOK & PAPERII.
 
BOOKS OF ACCOUNTIII.
 
DOCUMENTSIV.
 
ALL15.
 
FINANCIAL YEAR IS:I.
 
CALENDER YEARII.
 
NOT CALENDER YEARIII.
 
PERIOD IN RESPECT OF WHICH ANY PROFIT & LOSS ACCOUNT IS PREPAREDIV.
 
BOTH ii) & iii)
 
16.
 
HOLDING COMPANY MEANS A COMPANY AS DEFINED IN SECTION:I.
 
42II.
 
3III.
 
5IV.
 
1017.
 
IF A PERSON HAVE ANY SHARE,SCRIP OR OTHER SECURITY WHICH GIVES HIM A VOTINGPOWER/RIGHT BECOMES:I.
 
DIRECTORII.
 
CHIEF EXECUTIVEIII.
 
MEMBERIV.
 
OFFICER18.
 
EVERY SHREHOLDER IS:I.
 
MEMBER OF COMPANYII.
 
NOT MEMBER OF COMPANYIII.
 
OWNER OF COMPANYIV.
 
BOTH ii) & iii)19.
 
MEMORANDUM OF ASSOCIATION ARE:I.
 
INTERNAL AFFAIRS OF COMPANYII.
 
EXTERNAL AFFAIRS OF COMPANYIII.
 
MANDATORYIV.
 
BOTH i) & iii)20.
 
IF A COMPANY RESTRICTS TO TRANSFER ITS SHARES,THEN IT IS:I.
 
PUBLIC COMPANYII.
 
PRIVATE COMPANYIII.
 
HOLDING COMPANYIV.
 
EXISTING COMPANY21.
 
PRIVATE COMPANY LIMITS THE NUMBER OF ITS MEMBERS TO:I.
 
30II.
 
20III.
 
40IV.
 
5022.
 
WHEN TWO OR MORE PERSONS HOLD ONE OR MORE SHARES IN A COMPANY JOINTLY,THEYWILL BE TREATED AS:I.
 
SINGLE MEMBERII.
 
SEPERATELY AS MEMBERSIII.
 
DIRECTORSIV.
 
NONE23.
 
IF AN ADVERTISEMENT INVITES PUBLIC FOR THE SUBSCRIPTION OR PURCHASE OF ANYSHARES,IT IS:I.
 
DOCUMENTII.
 
BOOK & PAPERIII.
 
PROSPECTUSIV.
 
ALL24.
 
REDEEMABLE CAPITAL:I.
 
IS BASED ON INTERESTII.
 
NOT BASED ON INTERESTIII.
 
ARE ORDINARY SHARESIV.
 
NONE

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Shair Ali added this note
mcqs
Shair Ali liked this
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Kanza Mahmood Khan added this note
Aoa, are articles of association not OPTIONAL? as u have mentioned MANDATORY in the 1st McQ ?
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