Company Accounts

Share Capital

Medium

common

A private company is one which by its articles of association:

A. Limits the number of its members to 200 (excluding its employees);

B. Limits the number of its members to 200 (including its employees);

C. Restricts the right to transfer its shares;

D. Must have at least 2 persons, except in case of one person company;

Choose the correct answer from the options given below:

A, C and D only

A, and C only

A, and D only

B, C and D only

✅ Correct Option: 1

Under Section 2(68) a private company restricts the right to transfer shares, caps its membership at 200 excluding present and former employee-members, and needs a minimum of two members, except a one person company. Statement B is wrong because employees are excluded from the count.

2022: 8 Aug Shift 2

Which from the following is also known as 'Vertical Organisation'?

2023: 29 May Shift 2

When a company issues shares in open market and the amount is payable in instalments. What is the sequence of amount demanded by the company?

A. Money received on calls

B. Money due on calls

C. Allotment money received

D. Application money transferred to Share Capital A/c

E. Allotment money due.

Choose the correct answer from the options given below:

2026: 23 May Shift 2

Interest on calls in arrears is charged according to "Table F" not exceeding _______ p.a:

2026: 6 June Shift 1

From the following, which is not a feature of a company?

2025: 3 June Shift 1

Nominal share capital is :

2025: 24 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Calls in advance	(I) The maximum number of members is 200.
(B) Calls in arrears	(II) 12 %
(C) Private company	(III) 10 %
(D) Public company	(IV) No limit on the maximum number of members.

Choose the correct answer from the options given below:

Solution

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