1.1 : Accounting For Shares and Debentures: Introduction
1. Under which Act is a company defined in India? a) Indian Contract Act, 1872 b) Companies Act, 2013 c) Partnership Act, 1932 d) Limited Liability Partnership Act, 2008 Answer: b) Companies Act, 2013 2. Section 2(20) of the Companies Act, 2013 defines a company as: a) A body corporate registered abroad b) Company formed and registered under this Act or an existing company c) Sole proprietorship d) A voluntary association of individuals Answer: b) Company formed and registered under this Act or an existing company 3. What does "existing company" mean under the Companies Act, 2013? a) A company formed today b) A company registered under any of the former Companies Acts c) A government undertaking d) A partnership firm Answer: b) A company registered under any of the former Companies Acts 4. A company is an example of which type of person? a) Natural person b) Artificial person c) Illegal person d) Cooperative person Answer: b) Artificial person 5. Which characteristic of a c...