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Hello Again Sir,
How are you? I have a problem
Q) Which TWO of the following are correct with regard to the making of winding up order by the court?
1 In general the date of commencement of the winding up dates back to the date of the presentation of the petition.
2 All employees are automatically made redundant on making the winding up order
3 All Directors are automatically removed from office on the making of the winding up order
4 The winding up order includes the appointment of a qualified insolvency practitioner
A 1 and 2 only
B 1 and 3 only
C 2 and 3 only
D 1 and 4 only
Sir why A is right and why C is not? and what is meant by dates back?“Dates back” means it is back dated to the date of the presentation of the petition so the winding-up is effective from the date the petition is presented and not the later date of the order being given
Directors’ office is suspended but they are not removed ….. yet!
Hello Sir another question
Which two of the following statements are correct in relation to the Bribery Act 2010?
1 Bribery is a criminal offence that can be punished upto 10 years in prison.
2 Bribery is a civil wrong with unlimited liability in damages.
3 It does not apply to non Uk nationals
4 It creates the specific offence of bribing a foreign public official.
A 1 and 2
B 1 and 4
C 2 and 3
D 2 and 4
Why its 2 right and 4 is not?
Is a Bribe civil wrong? I have studied its a criminal offence
ThanksI think answer B is correct, criminal offence and foreign public official
Ok Sir thanks
Sir what should I do now just practice the mocks twice ? I am done with learning slaybus and BPP kit for practice
My exam is on wednesday 2 PmGo over as many mcqs as you can. Do 30 minutes. Then have a break for 5 or 10 minutes. Then do another 30, then a break, then 30, then break, then 30, then bre …………..and keep going like that for the next 3 days
Thanks for your guidance and Sir when I have to check my mistakes? At the end of each test ?
Yes, and make a note of the question number that you got wrong – but DON’T make a note of the correct answer
Then, on one of your 30 minute sessions, go back over those questions that you got wrong first time and see if you can identify why it’s wrong and also which answer is correct
And DON’T mark your guesses in the revision kit / exam kit
Ok Sir and
Here is another question
In the context of a general meeting of a public company, which one of the following resolutions never needs a majority not less than 75% of the vote cast to be in favour of the resolution if it is to be passed?
“A resolution to ……….”
1 Change the name of Company
2 remove a director before the director’s term of office expires
3 approve an amendment to the company’s constitution
4 Reduced the issued share capital of the company
Why 1 is not right and 2 is right?
I marked 1 which is wrongQuestion 43
There are many ways in which an investor can hold an interest in a company. Which of the following types of investment will normally participate in the surplus remaining in a liquidation?
The holders of…..
1) Debentures secured by a way of fixed charge
2) Equity shares
3) Preference shares
4) Unsecured debentures
Sir Why 4 is not right here? And How 2 is right?
Dont we pay surplus left on liquiation to the unsecured debentures in the payment of creditors list?Because number 2 resolution is just an ordinary resolution whereas the others all require special resolutions
The debenture holders are paid before any payment is made to the shareholders.
The unsecured debenture holders are paid together with the unsecured trade creditors but the questions asks for the destination of a surplus on a liquidation ie after everyone has been paid in full ….. who gets what’s left?
Oh ok I forgot the point that S/H’s are paid 1st than Debenture holders. I got this question 1st time in my practice thanks Sir 🙂
No! Shareholders are paid AFTER debenture holders, not first!
These questions are nothing to do with anxiety and stress. Please start separate threads for your subsequent questions
Thanks
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