www.bbcnoun.com.ng 
CLL804 6/10

1. A company cannot allot less than _____of its shares capital

a.
25% (ans)

b.
50%

c.
10%

d.
15%

2. Length of of notice for Extraordinary general meetings is ____

a.
14 days

b.
21 days (ans)

c.
7 days

d.
24 days

3. The case of _illustrates the principle of corporate personality

a.
Salomon v Salomon & Co Ltd (ans)

b.
Aguda v Dunlop Nigeria Ltd

c.
Salomon v Forward Nig. Ent. & fafore

d.
Solomon v Solomon & Co Ltd

4. A fixed amount that represents the notional value of the share\'s worth is called _______

a.
Maximum value

b.
nominal value (ans)

c.
issued value

d.
market value

5. ____is a company\'s issued share capital

a.
difference between nominal value and market value

b.
nominal value of shares actually alloted

c.
market value alloted

d.
nominal value of shares issued (ans)

6. A peron less than 18years has capacity to form a company only if ____________subscribes to the memorandum

a.
Two infants

b.
One qualified person

c.
Two undischarged bankrupts

d.
Two qualified persons (ans)

7. Name and object of a company is contained in _______

a.
Articles of Association

b.
Certificate of Incorporation (ans)

c.
memorandum of Association

d.
Minutes of meeting

8. _______contains rules and regulation of a company

a.
Articles of Association (ans)

b.
Memorandum of Articles

c.
Certificate of incorporation

d.
Memorandum of Association

9. Powers of a Director are regulated by ___ and ___________

a.
Article of Association and CAMA (ans)

b.
Article of Association and Company Secretary

c.
CAMA and Association of Shareholders

d.
Memorandum of Articles and CAMA

10. ___________regulates sales of shares to the Public

a.
Nigeria Enterprise Board

b.
Corporate Affairs Commission

c.
Nigeria Stock Exchange (ans)

d.
Nigerian Shareholders Association