MCQ for CA Final LAW - PART 2 - ECONOMIC LAW - Chapter 5 THE INSOLVENCY AND BANKRUPTCY CODE, 2016
Sample Multiple Choice Questions (MCQ's) for CA Final - Paper 4 - Corporate and Economic Laws - PART 2 - ECONOMIC LAW - Chapter 5: THE INSOLVENCY AND BANKRUPTCY CODE, 2016 - For Practice relevant for May/Nov 23 Examinations
Q:1 IBC, 2016 was notified in the Official Gazette on _______.
- 5th May, 2016
- 11th May, 2016
- 28th May, 2016
- 21st December, 2016
Answer: 3
Q:2 The Insolvency and Bankruptcy Board of India was established on ______.
- 1st July, 2016
- 1st September, 2016
- 1st October, 2016
- 1st December, 2016
Answer: 3
Q:3 ________ is empowered to establish the Insolvency and Bankruptcy Board of India.
- The Comptroller and Auditor General of India
- The Central Government
- The Securities and Exchange Board of India
- The Reserve Bank
Answer: 2
Q:4 The Head Office of Insolvency and Bankruptcy Board of India is situated at _________.
- Mumbai
- Kolkata
- Hyderabad
- New Delhi
Answer: 4
Q:5 IBC, 2016 is divided into ________ Parts and it has _______ Schedules.
- 4; 11
- 4; 12
- 5; 11
- 5; 12
Answer: 4
Q:6 The provisions relating to Insolvency Resolution and Liquidation for Corporate Persons are contained in _______.
- Part I of the Code
- Part II of the Code
- Part III of the Code
- Part IV of the Code
Answer: 2
Q:7 The purpose of the Code is _______.
- To provide time bound settlement of insolvency
- to resolve India's bad debt problem by creating a database of defaulters
- facilitate easy exit of bankrupt corporates and individuals
- All of these
Answer: 4
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