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-2 section-4

Each section contains 100 MCQs on Legal Aspects of Business .

A party to a negotiable instrument is discharged when

A) there is a delay in presenting the cheque B) there is a material alternation in instrument C) payment is made D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

In which of the following situations the Company Secretary in - not liable:

A) He does not file annual return with the Registrar of Companies in time B) He implements a wrong decision of the Board of Directors C) He fails to keep proper Minutes of the meetings of the Board of Directors D) He fails to call the Statutory Meeting within the presecribed time limit

Discuss

Answer & Solution

Answer: Option D

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

The first AGM should be conducted within . . . . . . . . months from the date of incorporation.

A) 12 B) 15 C) 18 D) 6

Discuss

Answer & Solution

Answer: Option C

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

CCI stands for

A) Competition Commission of India B) Cricket Council of India C) Contract Commission of India D) Container Corporation of India

Discuss

Answer & Solution

Answer: Option A

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

In which order are the following documents prepared?
1. Articles of Association
2. Notice of Statutory Meeting
3. Memorandum of Association
4. Prospectus

A) 2, 1, 3, 4 B) 1, 2, 3, 4 C) 3, 1, 4, 2 D) 3, 2, 1, 4

Discuss

Answer & Solution

Answer: Option C

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

Input tax credit under GST (Compensation to States) Act, 2017 includes GST Compensation Cess charged on any supply of:

A) Goods and/or services B) Goods imported C) GST Compensation Cess payable on reverse charge basis D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

A foreign company can constitute CSR Committee with minimum of:

A) 4 directors B) 3 directors C) 2 directors D) 1 director

Discuss

Answer & Solution

Answer: Option C

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

The assumption is that the members of the public must have the freedom to purchase and, every shareholder, the freedom to transfer. This is allowed in:

A) a private company B) a public company C) both A and B D) none of the above

Discuss

Answer & Solution

Answer: Option B

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

Period for disposing first appeal can be expand by . . . . . . . . days from 30 days, if necessary.

A) 10 B) 30 C) 15 D) 25

Discuss

Answer & Solution

Answer: Option C

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

What are the essentials for a person to employ an agent?

A) The person should not be of sound mind B) The person should be a major, according to the law to which the agent is subject C) The person should be a major, according to the law to which he is subject and should also be of sound mind D) The person should have executed a contract of indemnity before employing an agent

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