A small company is a company whose paid-up capital and

Q: Answer-A small company is a company whose paid-up capital and turn over shall________________

Explanation Companies Specification of definitions details Rules, 2014 Rule 21t For the purposes of sub-clause i and sub-clause ii of clause 85 of section 2 of the Act, paid up capital and turnover of the small company shall not exceed rupees four crore and rupees forty crore respectively.

turn over shall________________

A Exceed rupees two crores and rupees ten crores Correct Answer Incorrect Answer

B Not exceed rupees two crores and rupees twenty crores Correct Answer Incorrect Answer

C Not exceed rupees four crores and rupees forty crores Correct Answer Incorrect Answer

D Be such as the company may decide from time to time Correct Answer Incorrect Answer

Solution

Explanation: Companies (Specification of definitions details) Rules, 2014: Rule 2(1)(t) For the purposes of sub-clause (i) and sub-clause (ii) of clause (85) of section 2 of the Act, paid up capital and turnover of the small company shall not exceed rupees four crore and rupees forty crore respectively.

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