1) Converting a public company into a private company requires a special resolution.

(A) Passed by the members and with sanction of the central Government.
(B) Passed by the members and approved by the Registrar of companies.
(C) Passed by the members and approved by the company Law Tribunal.
(D) Passed by the members and approved by the auditors.

2) In which of the following conditions, a company will be reckoned a foreign company?

(A) If the company is established outside India and has a place- of business in India.
(B) A company incorporated outside India having shareholders who are all Indian citizens and having its business outside India.
(C) A company incorporated in India but having all foreign shareholders.
(D) Both (a) and (b).

3) Legal position of a promoter of a company is.

(A) That of an agent. 
(B) That of a trustee.
(C) That of a solicitor. 
(D) In a fiduciary capacity.

4) A company is said to have been registered when?

(A) It files Memorandum of association and Articles of Association.
(B) It gets incorporation certificate with the Registrar of Companies.
(C) It gets certificate for commencement of business.
(D) It actually starts its business.

5) A private Limited company commences business.

(A) At any time.
(B) After obtaining the certificate of incorporation.
(C) After obtaining the certificate to commence business.
(D) None of the above.

6) Certificate of commencement of business is not required by.

(A) A public company.
(B) A private company.
(C) Both public and private companies.
(D) private company subsidiary to a public company.

7) The companies (Amendment) Act , 2000 provides new section 292 A for constitution of audit committees by every public company having a paid up capital of.

(A) Rs.10 lakh or more. 
(B) Rs. 50 lakh or more.
(C) Rs.1 crore or more. 
(D) Rs.50 million or more.

8) An Audit Committee may include.

(A) Auditors. 
(B) Company Secretary.
(C) Non- executive Directors. 
(D) All.

9) Which of the following reports included clause 49 in the listing agreement.

(A) Sabhanayagam Report. 
(B) Kumaramangalam Birla report.
(C) Narasimham Report. 
(D) L.C. Gupta Report.

10) Audit committee shall act in accordance with the terms of reference to be specified by.

(A) Statutory Auditors. 
(C) Board of Directors. 
(D) Central Government.