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

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

A. Proposal

B. Promise

C. Contract

D. None of these

A. Priority

B. Novelty

C. Exclusivity

D. Commercial value

A. Anti-competitive agreements

B. Mergers and amalgamation

C. Unfair trade practices

D. Both A and B

A. An ordinary resolution

B. Resolution with a specific notice

C. A special resolution

D. None of the above

A. Doctrine of internal management

B. Principle of caveat emptor

C. Concept of management by exception

D. Principle of constructtive notice

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

A. A sole trader

B. A partnership firm

C. A co-operative society

D. All of the above

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

A. Shareholders

B. Managing Director

C. Board of Directors

D. Registrar of Companies