Advertisements
Advertisements
Question
True/False Answer Question:
If a company suffers heavy issues and its assets are not enough to pay off its liabilities, the balance can be recovered from the private assets of its members.
Options
True
False
Advertisements
Solution
The statement is FALSE.
In view of the limited liability of the members and shareholders of a company, they are not liable to pay any amount from their private assets if the company suffers any loss or is liquidated.
APPEARS IN
RELATED QUESTIONS
Choose the correct option for the following
Minimum number of members to form a private company is
Choose the correct option for the following
Minimum number of members to form a public company is
Select the correct answer from the options given below and rewrite the statement:
___________ are the persons who undertake the process of formation of a company.
Select the correct answer from the options given below and rewrite the statement:
A director must have a ________ to be appointed as a director of a company
Select the correct answer from the options given below and rewrite the statement:
____________has a 21 digit alpha numeric code which is unique number assigned to every company at the time of incorporation.
Write a word or a term or a phrase which can substitute the following statement.
Term which means registering a company as per provisions of Companies Act, 2013
Write a word or a term or a phrase which can substitute the following statement.
Term which refers to contracts entered into by Promoters with third parties on behalf of the proposed company;
Write a word or a term or a phrase which can substitute the following statement.
The Birth Certificate of a company.
State whether the following statement is True or False.
Promoters can make secret profits while setting up a company.
State whether the following statement is True or False.
In India, companies have to be incorporated as per the provisions of Companies Act, 2013.
State whether the following statement is True or False.
ROC issues CIN only to certain companies.
State whether the following statement is True or False.
All companies need Certificate of Incorporation.
Find the odd one.
Find the odd one.
Select the correct option form the given option:
|
Group A |
Group B |
|
CIN |
_______ |
Select the correct option form the given option:
|
Group A |
Group B |
|
RUN is used for |
_______ |
Study the following case/situation and express your opinion.
| Sagar company limited got its Certificate of Incorporation on 1st Sept. 2018. The application for Incorporation was submitted on 16th Aug. 2018. There were 10 promoters who took the steps to incorporate the company. |
- State the date on which Sagar company limited came into existence legally.
- On which date will the company get its Corporate Identity Number?
- How many minimum promoters are needed for incorporating a public company?
