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-3 section-10

When a GST dealer in Haryana sells a product to a GST dealer or customer in Punjab, the tax collected is:

A) SGST B) CGST C) Integrated GST D) UTGST

Discuss

Answer & Solution

Answer: Option C

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

Which of the following is a vertical agreements?

A) Bid rigging B) Market share C) Price fixation D) Refusal to deal

Discuss

Answer & Solution

Answer: Option D

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

CCI shall not initiate an inquiry into a combination after the expiry of year(s) from the date on which the combination has taken effect.

A) one B) two C) three D) five

Discuss

Answer & Solution

Answer: Option A

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

Which of the following is not a necessary feature for free consent?

A) When the consent is not caused by coercion B) When the consent is not caused by undue influence C) When the consent is not caused by mistake D) When the consent is not caused by misunderstanding

Discuss

Answer & Solution

Answer: Option D

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

Which Article of the Constitution as amended by 101^st Constitutional Amendment Act, 2016 defines the Goods and Service tax (GST) as a tax on supply of goods or services or both?

A) Article 366 (12A) B) Article 366 (1A) C) Article 366 (14A) D) Article 366 (18A)

Discuss

Answer & Solution

Answer: Option A

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

Who appoints the members and chairman of the Central Information Commission?

A) President alone can appoint B) Chief Justice of Supreme of India C) Committee under the leadership of Prime Minister D) Home Minister of the country

Discuss

Answer & Solution

Answer: Option C

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

The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to:

A) the transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder there of B) the payment by a bank on a negotiable instrument after due verification of the instrument C) the bargaining between the parties to a negotiable instrument D) all of the above

Discuss

Answer & Solution

Answer: Option A

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

To which authority, the Limited Liability Partnership agreement is submitted In India?

A) To Central Government B) To its partners C) To Registrar D) To State Government

Discuss

Answer & Solution

Answer: Option C

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

Which one of the following statements is not correct?

A) Forfeited shares can be reissued B) A notice of 14 days to shareholders is necessary before forfeiture of shares C) Premium on issue of shares can be used for writing off the preliminary expenses D) The profit on re-issue of forfeited shares is transferred to General Reserve Account

Discuss

Answer & Solution

Answer: Option D

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

In case of legal non-compliance and penalties under the LLP Act, are responsible.

A) Partners B) Designated Partners C) LLP D) All the above

Discuss

Answer & Solution

Answer: Option B

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