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-3

Section 100 of the Companies Act, 1956 allows a company to reduce its share capital under certain circumstances. which one of the following comes under the purview of this section:

A) Redemption of Redeemable preference shares, if issue of such shares is authorised by the Articles B) Forfeiture of shares for non-payment of calls C) Paying off any paid-up capital which is in excess of the needs of the company D) Surrender of shares to the company by one or more shareholders

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Answer & Solution

Answer: Option C

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'Doctrine of Caveat Emptor' means:

A) buyer should make payment well in time B) buyer should be beware of all aspects of buying C) buyer will be responsible for the whole payment D) buyer will not be responsible at any cost

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Answer & Solution

Answer: Option B

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Which of the following cannot be treated as 'delivery' under the Sale of Goods Act, 1930?

A) Doing anything which has the effect of putting goods in possession of legal representatives of seller B) Doing anything which has the effect of putting goods in possession of any person authorized by the buyer C) Doing anything which has the effect of putting goods in possession of the buyer D) Doing anything which the parties agree to be treated as delivery

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Answer & Solution

Answer: Option A

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Which of the following sections of Companies Act, 2013 facilitates amalgamation, absorption and reconstruction of companies?

A) 319 B) 320 C) 410 D) 502

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Answer: Option A

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Which of the following does not fall under not 'fraud' according to Indian Contract Act, 1872?

A) where a person stands in a fiduciary relation with the other and induces the other person to act on his directions B) the active concealment of a fact by one having knowledge or belief of the fact C) a promise made without any intention of performing it D) the suggestion as a fact, of that which is not true, by one who does not believe it to be true

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Answer & Solution

Answer: Option A

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The limit of maximum number of members in a private company is:

A) 20 B) 200 C) 500 D) None of these

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Answer & Solution

Answer: Option B

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A public company can commence its business

A) Without obtaining certificate of incorporation B) After obtaining certificate of incorporation C) After obtaining certificate of commencement of business D) As per its choice

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Answer & Solution

Answer: Option C

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In India, the GST is based on the dual model GST adopted in:

A) UK B) Canada C) USA D) Japan

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Answer & Solution

Answer: Option B

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The Central Information Commission falls under which ministry?

A) Ministry of Home Affairs B) Ministry of Personnel and Training C) Ministry of Human Resource Development D) None of the above

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Answer & Solution

Answer: Option B

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Right of stoppage in transit means right of stopping the goods while they are

A) on the way to buyer's place B) on the way to seller's place C) on the way to place of goods D) All of the above

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Answer & Solution

Answer: Option A

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