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-2 section-10

Which of the following can be taken as the start point of a 'contract'?

A) Proposal B) Acceptance C) Agreement D) Anyone of the above

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Answer & Solution

Answer: Option A

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Which of the following section in the Negotiable Instruments Act deals with the Bill of Exchange?

A) Section 5 B) Section 6 C) Section 4 D) Section 8

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

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Answer & Solution

Answer: Option B

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Under GST law, the aggregate turnover of a dealer is determined on the basis of

A) State-wise B) Pan India C) Region wise D) It lies at the discretion of central government

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Answer & Solution

Answer: Option B

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In case of breach of contract, which of the following remedy is available to the aggrieved party?

A) Suit for rescission B) Suit for damages C) Suit for specific performance D) All of the above

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Answer & Solution

Answer: Option D

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This system helps manufacturers, traders and transporters to generate bills for the goods transported from the place of its origin to its destination on a common portal with ease. Tax authorities are also benefited as this system has reduced time at check posts and helps reduce tax evasion. This system is called:

A) e-way bill system B) e-invoicing system C) RFID system D) e-logistic system

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Answer & Solution

Answer: Option A

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Which among the following is NOT considered as an objective of Secretarial Audit?

A) To check and report on Compliances B) To point out Non-Compliances and inadequate Compliances C) To protect the interest of the customers, employees, society etc D) To check and verify personally all financial and cost data E) To avoid any unwarranted legal actions by law enforcing agencies and other persons

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Answer & Solution

Answer: Option D

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GST is levied on

A) manufacturers B) retailers C) Consumers D) All of these

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Answer & Solution

Answer: Option D

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Which of the following does not fall in the category of 'goods'?

A) Stock and shares B) Money and actionable claims C) Growing crops and grass D) Things attached to or forming the part of land which are agreed to be severed before sale or under contract of sale

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Answer & Solution

Answer: Option B

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To qualify for copyright protection, what must the work be?

A) Original, creative to a minimal degree and in a fixed or tangible form of expression B) Something that is deemed useful by the public C) Anything D) All of the above

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Answer & Solution

Answer: Option A

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