Legal Aspects of Business MCQ Questions and Solutions with Explanations

Legal Aspects of Business MCQ Questions and Solutions with Explanations | Commerce

Legal Aspects of Business MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Legal Aspects of Business MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam.

What is the penalty for publishing images of a person's private parts without consent, as per IT Act 2000?

A) 5 years imprisonment or 5 lakh rupees penalty or both B) Life imprisonment C) 3 years imprisonment or 2 lakh rupees penalty or both D) None of the above

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Answer & Solution

Answer: Option C

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When one person signifies to another his willingness to do or to abstain from doing anything with a view to obtaining the assent of that other person to such act or abstinence, he is said to make a

A) Proposal B) Promise C) Contract D) None of these

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Answer & Solution

Answer: Option A

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What aspect of a patented product is tested by PCT?

A) Priority B) Novelty C) Exclusivity D) Commercial value

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Answer & Solution

Answer: Option A

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The Competition Act, 2002 seeks to regulate

A) Anti-competitive agreements B) Mergers and amalgamation C) Unfair trade practices D) Both A and B

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Answer & Solution

Answer: Option D

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Articles of Association of a Company can be altered by passing

A) An ordinary resolution B) Resolution with a specific notice C) A special resolution D) None of the above

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Answer & Solution

Answer: Option C

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The term 'Turquand Rule' is related to

A) Doctrine of internal management B) Principle of caveat emptor C) Concept of management by exception D) Principle of constructtive notice

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Answer & Solution

Answer: Option A

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A sub-agent is a person employed by and acting under the control of:

A) The principal only B) The original agent in the business of agency only C) Both the principal and original agent only D) Neither the Principal nor the original agent

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Answer & Solution

Answer: Option B

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Who is not required to hold statutory meeting

A) A sole trader B) A partnership firm C) A co-operative society D) All of the above

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Answer & Solution

Answer: Option D

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Which of the following statements is not true about the types of GST?

A) CGST: It is the tax collected by the Central Government on an intra-state sale (a transaction happening within Punjab) B) SGST: It is the tax collected by the state government on an intra-state sale (a transaction happening within Maharashtra) C) IGST: It is a tax collected by the Central Government for an inter-state sale (Maharashtra to Tamil Gujarat) D) All of the above statements are true

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Answer & Solution

Answer: Option D

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A company secretary under Companies Act, 1956 is appointed by:

A) Shareholders B) Managing Director C) Board of Directors D) Registrar of Companies

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Answer & Solution

Answer: Option C

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