The maximum number of members in a public company is: MCQ with Answer and Explanation

Question
The maximum number of members in a public company is:
A. 200
B. 50
C. No limit
D. 100
Answer: Option C
Solution (By JKSSB Mock Tests)
Public company has no maximum limit on number of members.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
The 'Voting weight' of the Union Government in GST Council is:
A. Two-thirds
B. Full
C. Half
D. One-third
Discuss
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Correct Answer: Option D

Explanation:
Union has one-third weight and all states together have two-thirds weight.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The 'Prior Period Items' are shown in:
A. Balance sheet
B. Reserves
C. Current period's profit and loss
D. Separately in the current period's financial statements
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Correct Answer: Option D

Explanation:
Prior period items are disclosed separately in the statement of profit and loss.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
Sunk costs are:
A. Variable costs of a project
B. Future costs that differ among alternatives
C. Relevant for decision making
D. Costs that have already been incurred and cannot be recovered
Discuss
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Correct Answer: Option D

Explanation:
Sunk costs are past expenditures. Since they cannot be changed by present or future decisions, they are considered irrelevant for decision making.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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