Legal Aspects of Business MCQ Questions and Solutions with Explanations

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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. Page-10 section-10

Each section contains 100 MCQs on Legal Aspects of Business .

Which of the following is an exception to the Doctrine of Constructive Notice:

A) Doctrine of Ultra Vires B) Doctrine of Distinct Entity C) Doctrine of Indoor Management D) Lifting the Corporate Veil

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Which of the following options is correct as far as definition of 'buyer' is concerned under Section 2(1) of Sale of Goods Act?

A) Person who buys goods and services B) Person who agrees to buy goods C) Person who buys or agrees to buy goods D) Person who buys or agrees to buy goods and services

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

All agreements are . . . . . . . . if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void.

A) Standard forms of contracts B) Contracts C) Enforceable Contracts D) Quasi contracts

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

A contracts to pay B a sum of money when B marries C. C dies without being married to B.

A) The contract still can be forced B) The contract becomes void C) Either A or B D) None of the above

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

A company secretary maintains and prepares:

A) Agenda and minutes B) Wage sheet C) Audit report D) Financial transactions

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Memorandum of Association is/are

A) Internal rules of the Company B) Guidelines for Board of Directors C) Agreement between Company and Board of Directors D) Charter of the Company

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Under which section of Negotiable Instrument Act, 1882, the 'Dishonour of Negotiable Instrument by Non-Payment' is covered?

A) Section 90 B) Section 91 C) Section 92 D) Section 93

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Which of the following funds was created by PM on 28^th March 2020, with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic?

A) PM Health Fund B) PM Pandemic Fund C) PM Universal Fund D) PM CARES Fund

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

A statement of change in financial position typically would NOT disclose the effect of

A) share capital issued to acquire productive facilities B) Dividends on share declared C) cash dividend declared but not yet paid D) purchase and retirement of treasury stock

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

100

A person liable to contribute towards the assets of the company on the event of its being wound-up is a . . . . . . . .

A) liquidator B) solicitor C) contributory D) tribunal

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

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