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CUET Accountancy 2025 PYQs22 May Shift 2. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2025 22 May Shift 2

Share Capital

past year questions, Company Accounts, CUET Accountancy 2025 22 May Shift 2

Easy

common

Which company must have at least two members?

Solution

✅ Correct Option: 3

A Private Company requires a minimum of 2 members to be formed and maintain its existence.

Here's the minimum membership requirement for different company types:

One Person Company (OPC) → 1 member (as the name indicates)

Private Company → 2 members (minimum requirement)

Public Company → 7 members (minimum requirement)

Holding Company → Not defined by membership count; it's a company that controls another company through shareholding, regardless of whether it's public or private

Under Section 3(1)(b) of the Companies Act, 2013, a private company must have at least 2 members while its maximum is capped at 200 members (excluding employee members). If membership falls below 2 and the company continues business for more than 6 months, the remaining member becomes personally liable for company debts incurred during that period.

Related questions:

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The premium amount collected from issue of shares can be used for the following purposes:

(A) To purchase own shares.

(B) To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company.

(C) To write-off preliminary expenses of the company.

(D) To write-off fixed assests from books.

Choose the correct answer from the options given below:

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2022: 30 Aug Shift 2

Securities premium Reserve can be utilised ___

A. to return excess money received on application

B. to write off preliminary expenses

C. to issue partly paid bonus shares

D. for premium paid on Redemption of Debentures or preference shares

E. for buy back of shares

Choose the correct answer from the options given below:

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