Indian Economy MCQs


Q.  Consider the following statements:
1. Issue of shares at a premium represents a Capital Profit for a company
2. Issue of shares at a discount is not allowed in India
Which among the above is / are correct?


a. Only 1
b. Only 2
c. Both 1 & 2
d. Neither 1 nor 2


ANSWER: See Answer
 
The first statement is correct while second is incorrect. A company may issue shares at a discount i.e. at a value below its par value under certain conditions such as
The shares must be of a class already issued. A new class of shares cannot be issued at discount.
Issue of the shares at discount must be authorized by resolution passed in the general meeting of company and sanctioned by the company law board.
The resolution must also specify the maximum rate of discount at which the shares are to be issued.
Not less than one year has elapsed from the date on which the company was entitled to commence the business.
The shares to be issued at discount must issued within 2 months after the date on which issue is sanctioned by the company law board or within extended as may be allowed by the Company Law Board.
Any company could not offer the shares at discount when:

It is a new company
It is a new class of shares even though of an old company
The discount on issue of shares is treated as a loss of capital nature.
MCQs:  Which Economist worked on “Group Measurement,” which evaluated the impact of the NREGA project on India’s citizens?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which of the below problems occur in an economy?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which sector contributed the maximum to GDP?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which crop is affected by Pink bollworm?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  What is India’s rank in Fertilizer production?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Consider the following organisms 1. Agaricus 2. Nostoc 3. Spirogyra 4. Azospirillium Which of the above is/are used as biofertilizer/biofertilizers?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which food crop production increased maximum in India after Independence?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  What is India’s rank in the global groundnut production?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which country is the world’s largest palm oil exporter?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which fruit is called “King of Fruits”?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  What is the total earning of diary exports of India?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  With which organization are the meat Export-oriented units registered?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which among the following is a bird disease?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which among the following is incorrect regarding the National Dairy Development board?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Who is known as father of yellow revolution in India?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  What was production of oilseeds in 1986 before Yellow revolution?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which among the following is related to silver revolution in the country?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Which among the following is an urban agricultural practice?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  Who launched the program Lab to Land program?
Category: General Knowledge Quiz,   Published by: teswesm
MCQs:  When was start-up India started?
Category: General Knowledge Quiz,   Published by: teswesm