MCQ Quiz on Liquidation of Company
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MCQ Quiz on Liquidation of Company No.1 Free MCQ consist 28 MCQ.
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This MCQ Quiz/mock test on Liquidation of Company is based on following questions.
Important Note:-👇
1. ………………is the process through which, the legal existence of the company comes to an end.
a. Incorporation
b. Liquidation
c. Dissolution
2. As per section 270 of the Companies Act 2013, the procedure for winding up of a company can be initiated either………….?
a. By the tribunal
b. Voluntary
c. Any of the above
MCQ Quiz on Liquidation of Company No.1 Free MCQ
3. The petition for compulsory winding up can be presented by the following persons …………?
a. The company
b. The creditors
c. Any contributory
d. Any of the above
4. The company can be wound up voluntarily by the mutual agreement of ………..of the company
a. Members
b. Creditors
c. Debenture holders
MCQ Quiz on Liquidation of Company No.1 Free MCQ
5. According to the Companies Act a …………….is “every person liable to contribute to the assets of a company in event of its being wound up, and includes a holder of fully paid-up shares”’
a. Member
b. Contributory
c. Owner
6. ……………..consists of those persons who are members of the company on the date of the winding up.
a. List B
b. List A
c. List C
MCQ Quiz on Liquidation of Company No.1 Free MCQ
7. List ‘A’ contributories is the list of the ………….members of the company.
a. Present
b. Past
c. Future
8. The holders of ……………shares are also treated as contributories even though they are not required to contribute anything to the company.
a. Partly-paid up
b. Fully paid-up
c. Called up
MCQ Quiz on Liquidation of Company No.1 Free MCQ
9. …………..consists of those persons who were the members of the company during the 12 months preceding the date of winding up.
a. List C
b. List B
c. List A
10. In case the assets of the company are not sufficient to pay the liabilities of the company in the event of company’s winding up liquidator can ask ………..contributories to contribute towards the assets of the company.
a. List A
b. List B
c. List C
MCQ Quiz on Liquidation of Company No.1 Free MCQ
11. The person appointed for conducting the liquidation proceedings of the company is called…………..?
a. Auditor
b. Liquidator
c. Officer
12. The main duty of the ……………..is to collect the assets of the company and realize them and distribute the amounts realized among the right claimants.
a. Liquidator
b. Officer
c. Director
MCQ Quiz on Liquidation of Company No.1 Free MCQ
13. The statement prepared by the liquidator, in case of voluntary winding up is called ………….?
a. Winding up Statement
b. Liquidators Statement of Account
c. Official Final Account
14. The statement prepared by the liquidator, in case of winding up by tribunal is called ………….?
a. Official Liquidators Final Account
b. Liquidators Statement of Account
c. Winding up Statement
MCQ Quiz on Liquidation of Company No.1 Free MCQ
15. ………………. Are paid first, in the order of payment by the liquidator.
a. Legal Expenses
b. Liquidators Remuneration
c. Liquidation Expenses
16. ……………. Are paid last, in the order of payment by the liquidator
a. Preference shareholders
b. Equity shareholders
c. Unsecured creditors
MCQ Quiz on Liquidation of Company No.1 Free MCQ
17. Liquidator is entitled for remuneration in the form of commission which is usually based on …………?
a. On assets realized
b. On amount paid to unsecured creditors
c. Any of the above
18. All revenues, taxes, cesses and rates due to the Central, State Government or to a local authority which have become due and payable within twelve months, are paid before………..?
a. Unsecured creditors
b. Debenture holders
c. Preference shareholders
d. All of the above
MCQ Quiz on Liquidation of Company No.1 Free MCQ
19. If the company is…………… interest due on debentures shall be paid up to the date of actual payment.
a. Insolvent
b. Solvent
c. Bankrupt
20. If the company is………….. interest due on debentures should be paid up to the date of liquidation.
a. Not solvent
b. Solvent
c. Bankrupt
21. The …………….in the liquidation of the company are known as contributories.
a. Shareholders
b. Debenture holders
c. Creditors
22. List ‘C’ gives the list of ……………?
a. Preferential creditors
b. Denture holders
c. Equity shareholders
MCQ Quiz on Liquidation of Company No.1 Free MCQ
23. ………..shows how Deficiency or Surplus in the Statement of Affairs has been arrived at.
a. List H
b. List F
c. List G
24. Statement of Affairs must cover at least a ……………period preceding the date of winding up order.
a. 5 year
b. 3 year
c. 1 year
25. The liquidator is required to prepare a statement and submit the same to………….. after the company is completely wound-up.
a. Central Government
b. Tribunal
c. Registrar of companies
MCQ Quiz on Liquidation of Company No.1 Free MCQ
26. The liquidator’s Final Statement of Account is prepared in the form of …………………?
a. Income and Expenditure
b. Receipts and Payments
c. Inflow and outflow of cash
27. Compensation due under Workmen’s Compensation Act, 1923, is example of …….?
a. Preferential creditors
b. Unsecured creditors
c. Secured creditors
28. The term unsecured creditors includes ……………..as basically they are also unsecured creditors.
a. Preferential creditors
b. Secured creditors
c. None of the above
MCQ Quiz on Liquidation of Company
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