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-4

The Annual General Meeting of a Company requires a notice of at least

A) 14 days B) 21 days C) 29 days D) 30 days

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Answer & Solution

Answer: Option B

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Which of the following section deals with dishonour by non-acceptance?

A) Section 90 B) Section 91 C) Section 92 D) Section 97

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Answer & Solution

Answer: Option B

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When does the property in the goods pass to the buyer in case of an unconditional contract for the sale of specific goods in a deliverable state:

A) When the contract is made irrespective of whether the time of payment of price or delivery of goods is postponed or not B) When the party Intends to transfer C) At the time of the payment of the price of goods D) At the time of delivery of goods

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Answer & Solution

Answer: Option A

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In a private company shares are:

A) transferable freely B) transferable with some restrictions C) non-transferable D) all of the above

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Answer & Solution

Answer: Option C

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Controller of Certifying Authorities (CCA) work under?

A) Prime Minister office B) Reserve Bank of India C) Ministry of Communication and IT D) Autonomous body

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Answer & Solution

Answer: Option C

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The principle of constructive notice protects:

A) Outsiders against company B) Company against outsiders C) Directors against shareholders D) Employees against management

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Answer & Solution

Answer: Option B

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Generally, the following damages are not recoverable?

A) Ordinary damages B) Special damages C) Remote damages D) Nominal damages

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Answer & Solution

Answer: Option C

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The following cannot be exploited by assigning or by licensing the rights to others.

A) Patents B) Copyrights C) Trademarks D) All of these

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Answer & Solution

Answer: Option C

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Match the following.

List-I (Form)	List-II (Explanation)
a. GSTR-1	1. Gross tax liabilities, total description of payment
b. GSTR-2	2. Details of supply/sales
c. GSTR-3	3. Details of purchases
d. GSTR-4	4. Quarterly statement

A) a-4, b-3, c-1, d-2 B) a-2, b-3, c-1, d-4 C) a-2, b-1, c-4, d-3 D) a-3, b-4, c-1, d-2

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Answer & Solution

Answer: Option B

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According to section 14 of the Act, when a promissory note, bill of exchange or cheque is transferred to any person so as to constitute that person the holder there of, the instrument is said to be:

A) Negotiated B) Assigned C) Assigned and negotiated D) Terminated

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Answer & Solution

Answer: Option A

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