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. Page-10 section-9

Minutes Book is required to be maintained by

A) private companies only B) public companies only C) both private and public companies D) some of the above

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Answer & Solution

Answer: Option C

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GST was implemented in India from:

A) 1^st January 2017 B) 1^st April 2017 C) 1^st March 2017 D) 1^st July 2017

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Answer & Solution

Answer: Option D

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A company is said to have been incorporated when

A) necessary documents have already submitted to the registrar B) certificate of incorporation has been obtained from the registrar C) it actually starts business D) None of the above

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Answer & Solution

Answer: Option B

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Which of the following is not the right of an unpaid seller under Sale of Goods Act, 1930?

A) Right of lien on goods for the price while the goods are in possession of seller B) Right of stopping the goods in transit, in case of insolvency of buyer C) Right of resale as limited by the act D) Right of with holding delivery where the property in the goods has passed to the buyer

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Answer & Solution

Answer: Option D

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Which of the following is a type of cheque?

A) Bearer cheque B) Order cheque C) Crossed cheque D) All of these

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Answer & Solution

Answer: Option D

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A person cannot be the director of more than . . . . . . . . companies at a time.

A) 5 companies B) 10 companies C) 15 companies D) 20 companies

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Answer & Solution

Answer: Option D

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Which of the following statement is correct with regard to delivery of goods by a seller?

A) The seller is bound to deliver the goods under all circumstances B) The seller is bound to deliver the goods when there is either an express contract or when the buyer applies for delivery C) The seller is bound to deliver the goods only when there is an express contract to that effect D) The seller is bound to deliver the goods only when the buyer applies for delivery

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Answer & Solution

Answer: Option B

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When in transaction of Bailment comes to an end the duty of transfer the goods is laid upon whom?

A) Bailor B) Person C) Bailee D) Bailment

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Answer & Solution

Answer: Option C

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After the declaration of the dividend in general meeting, it has to be paid within:

A) 60 days B) 42 days C) 45 days D) 90 days

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Answer & Solution

Answer: Option B

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100

Under Section 149 (1) of the Company Act, 2013, which of the following types of companies must have at least 1 woman director in their board?

A) Every listed company B) A public company having paid-up capital of Rs. 100 crore or more C) A public company having turnover of Rs. 300 crore or more D) All of the above

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Answer & Solution

Answer: Option D

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