MCQ Quiz on Liquidation of Company No.1 Free MCQ

 MCQ Quiz on Liquidation of Company

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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