The statutory meeting of a company is convened
A. once in a year
B. once in the life time of the company
C. once in 6 months
D. once in 3 months
Answer: Option B
Solution(By Examveda Team)
The statutory meeting of a company is convenedonce in the life time of the company.A statutory meeting is a one-time meeting of shareholders and directors that occurs shortly after the company's incorporation.
The purpose of this meeting is to discuss important matters such as the company's formation, appointment of directors, and initial financial matters.
Therefore, the correct option is once in the life time of the company.
This Question Belongs to Commerce >> Accounting
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Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The statutory meeting is held once in the lifetime of the company and it should be held within 30 days but not more than 6 months after the date on which the company is authorized to commence its business. Public companies with share capital must hold a statutory meeting. Private limited companies and companies limited by guarantee are exempt from this requirement.