The minimum number of members in a private company is: MCQ with Answer and Explanation

Question
The minimum number of members in a private company is:
A. 10
B. 3
C. 7
D. 2
Answer: Option D
Solution (By JKSSB Mock Tests)
Private company requires minimum 2 members.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1
The 'Derecognition of Financial Assets' under Ind AS 109 is based on:
A. Transfer of risks and rewards of ownership
B. Title
C. Legal ownership
D. Possession
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Derecognition occurs when risks and rewards are substantially transferred.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The 'Termination Benefits' under Ind AS 19 are recognised:
A. Over the service period
B. When paid
C. When the employee retires
D. At the earlier of when the entity can no longer withdraw the offer or when the entity recognises restructuring costs
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Termination benefits are recognised at the point of no withdrawal.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Warranty' in a sales contract may be:
A. Either assurance-type (no separate obligation) or service-type (separate obligation) depending on whether it provides additional service
B. Always a separate performance obligation
C. Not accounted
D. Always a provision
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Ind AS 115 distinguishes between assurance and service warranties.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Explore All Accountancy and Book Keeping MCQs
Today's Top Topics
Accountancy and Book Keeping 1861 Statistics 1318
Explore Subjects
English 15164 Computer 5279 Geography GK 6121 Static General Knowledge 6362 History GK 3374
Practice Mix
A man rows a distance of 16 km downstream in 2 hours and returns upstream in 4 hours. Find the speed of the river current.
The Naga Hills are in:
Sundar walks 4 km towards east. Then he turns right and walks 3 km. Again he turns to the right and continues walking. Which direction is he going now?
At what rate percent compound interest will Rs. 1000 become Rs. 1728 in 3 years?
Carnot efficiency depends on: