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-5

Each section contains 100 MCQs on Legal Aspects of Business .

An act, legal in itself, but not authorized by the object clause of the Memorandum of Association of a company or statute, is:

A) ultra Vires the company B) within Articles of Association C) within Memorandum of Association D) all of the above

Discuss

Answer & Solution

Answer: Option A

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

A Company Secretary is:

A) A shareholder of the company B) A debenture holder of the company C) An employee of the company D) A customer of the company

Discuss

Answer & Solution

Answer: Option C

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

When a contract is breached, the party who suffers such breach shall:

A) be indemnified for the loss or damage caused to him B) receive compensation for any loss or damage caused to him C) be remunerated for the loss or damage caused to him D) not have any right under this act

Discuss

Answer & Solution

Answer: Option B

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

RTI Act 2005 came into force on:

A) 12^th October 2005 B) 15^th August 2005 C) 15^th June 2005 D) 1^st November 2005

Discuss

Answer & Solution

Answer: Option A

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

What is the responsibility of the finder of goods?

A) Same responsibility as a bailee B) Same responsibility as a trustee C) Same responsibility as a pledgee D) Same responsibility as the owner

Discuss

Answer & Solution

Answer: Option A

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

Table 'A' of the Companies Act. gives model of:

A) Balance sheet B) Memorandum of Association C) Articles of Association D) Profit and Loss A/c

Discuss

Answer & Solution

Answer: Option C

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

XYZ company is a government company and X company is a subsidiary of XYZ company. Then X company will be

A) public company B) private company C) government company D) one person company

Discuss

Answer & Solution

Answer: Option C

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

A employs B to beat C and agree to indemnify him against all consequence of the act. B thereupon beats C and to pay damages to C for so doing.

A) A is liable to indemnify B for those damages B) A is partially liable to indemnify B for those damages C) A is not liable to indemnify B for those damages D) None of the above

Discuss

Answer & Solution

Answer: Option C

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

The tax which was not merged into GST is:

A) Countervailing Duty B) Excise duty C) Basic Customs Duty D) Purchase tax

Discuss

Answer & Solution

Answer: Option C

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

100

One of the following statement is wrong under the permission granted to the company secretary by general resolution:

A) Private tutorship B) Holding of LIC agency license C) Holding of public elective officers as MP & MLA etc D) Valuation of papers, acting as paper setter & head examiner etc E) Editorship of journals other than professional journals

Discuss

Answer & Solution

Answer: Option E

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