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CA Final MCQs
Quiz
Q1. Certificate of Incorporation would be deemed to be cancelled from
Dateof application to ROC
Date mentioned in the notice by the ROC
Date from which the directors decides to dissolve the company
Date from which the company stops its business
Q2. Mr. X sold a building to PQR Ltd. in Jan 2016. In the year 2018, PQR Ltd. seeks to appoint Mr. Y as its Registered Valuer. Will the appointment be considered valid?
No, as 3 years have not lapsed from the date Mr. X has sold the asset.
No, as 5 years have not lapsed from the date Mr. X has sold the asset.
No, as 8 years have not lapsed from the date Mr. X has sold the asset.
None of the above
Q3. Mr. X sold a building to PQR Ltd. in Jan 2016. In the year 2018, PQR Ltd. seeks to appoint Mr. Y (Brother of Mr. X) as its Registered Valuer. Will the appointment be considered valid?
No, as 3 years have not lapsed from the date Mr. X sold the asset.
No, as 5 years have not lapsed from the date Mr. X sold the asset.
No, as 8 years have not lapsed from the date Mr. X sold the asset.
None of the above
Q4. Who shall carry out the valuation of any property, stocks, shares, debentures, securities or goodwill or any other assets or net worth of a company or its liabilities?
CFO
Liquidator
Registered Valuer
None of the above
Q5. Mr. Raman sold a building to Ranka Ltd. in Jan 2016. In the year 2018, Ranka Ltd. seeks to appoint Mr. Raman as its Registered Valuer. In March 2018, Mr. Raman conducts valuation of its shares and debentures. Will he face any consequence?
fine which shall not be less than Rs. 25,000 but which may extend to Rs. 1 Lac.
fine which shall not be less than Rs. 15000 but which may extend to Rs. 1 Lac.
fine which shall not be less than Rs. 5000 but which may extend to Rs. 1 Lac.
None of the above
Q6. What factors shall a Registered Valuer consider while conducting valuation of assets or liabilities of the Company?
Make an impartial valuation
exercise due diligence
notundertakevaluationofanyassetsinwhichhe has or will have a direct or indirect interest any time during or after the valuation of assets.
All of the above
Q7. Mrs. Prachi, valuer of LMN Ltd. contravened with the provisions of Section 247 with an intention to defraud the company. What are the consequences she will have to face?
Imprisonmentupto one year and Fine Rs. 1 lac up to Rs. 5 lakh.
shall be liable to: i. refund the remuneration received and ii. pay for damages to the company or to any other person affected.
(a) or (b)
(a) and (b)
Q8. Who shall appoint the Registered Valuer of the Company?
Board of Directors
Audit Committee
Nomination and Remuneration committee
Audit Committee, in their absence by Board of Directors
Q9. In the year 2018, PQR Ltd. was appointed Mr. X as its Registered Valuer. Mr. X seeks to sell a building to PQR Ltd. in Jan 2020. Can the transaction be entered into?
No, as 5 years have not lapsed from the date of appointment of Mr. X.
No, as 3 years have not lapsed from the date of appointment of Mr. X.
No, as 8 years have not lapsed from the date of appointment of Mr. X.
None of the above
Q10. Mr. Akhil sold a building to Ranka Ltd. in Jan 2012. In the year 2018, Ranka Ltd. seeks to appoint Mr. Akhil as its Registered Valuer. In March 2018, Mr. Akhil conducts valuation of its shares and debentures. Will he face any consequence?
fine which shall not be less than Rs. 25,000 but which may extend to Rs. 1 Lac.
fine which shall not be less than Rs. 15000 but which may extend to Rs. 1 Lac.
fine which shall not be less than Rs. 5000 but which may extend to Rs. 1 Lac.
None of the above
Q11. Mr. X sold a building to PQR Ltd. in Jan 2016. In the year 2018, PQR Ltd. seeks to appoint Mr. Y (Friend of Mr. X) as its Registered Valuer. Will the appointment be considered valid?
No, as 3 years have not d. None of the lapsed from the date Mr. X above sold the asset.
No, as 5 years have not lapsed from the date Mr. X sold the asset.
No, as 8 years have not lapsed from the date Mr. X sold the asset.
None of the above
Q12. Mr. X sold a building to PQR Ltd. in Jan 2012. In the year 2018, PQR Ltd. seeks to appoint Mr. X as its Registered Valuer. Will the appointment be considered valid?
Yes, as 5 years have lapsed from the date Mr. X has sold the asset.
Yes, as 6 years have lapsed from the date Mr. X has sold the asset.
Yes, as 3 years have lapsed from the date Mr. X has sold the asset.
None of the above
Q13. Mr. P, valuer of LMN Ltd. contravened with the provisions of Section 247 with an intention to defraud the company. What are the consequences he will have to face?
Imprisonment upto 1 year
Fine: Rs.1 lac upto Rs. 5 lakh.
(a) or (b)
(a) and (b)
