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-4 section-10

GST stands for

A) Goods and Supply Tax B) Government Sales Tax C) Goods and Services Tax D) General Sales Tax

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Answer & Solution

Answer: Option C

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Which section of RTI Act, 2005 deals with 'Constitution of Central Information Commission'?

A) Section 11 B) Section 16 C) Section 14 and 15 D) Section 12 and 13

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Answer & Solution

Answer: Option D

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Match List-I with List-II:

List-I	List-II
a. Transfer of ownership	1. Negotiable Instrument
b. Sale of goodwill after dissolution	2. Contract of sale of goods
c. Buy-back of securities	3. Dissolution of partnership firm
d. Promissory Note	4. Share capital of company

Choose the correct option from those given below:

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

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Answer & Solution

Answer: Option A

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What is the characteristics of something being an original work under copyright law?

A) Must be new or novel B) Must not based upon another work C) Must contain factual information D) None of the above

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Answer & Solution

Answer: Option D

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What can not be acquired as per the Competition Act, 2002?

A) Share B) Voting right C) Management control D) None of these

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Answer & Solution

Answer: Option D

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The contracts of indemnity, guarantee, bailment, pledge and agency is covered by section

A) Section 1-75 B) Section 76-100 C) Section 124-128 D) Section 124-238

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Answer & Solution

Answer: Option D

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Which one of the following statement is true?

A) Offer and acceptance are revocable B) Offer and acceptance are irrevocable C) An offer can be revoked, but acceptance can not D) An offer can not be revoked, but acceptance can be revoked

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Answer & Solution

Answer: Option A

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The main object of introducing GST was to reduce which of the following?

A) Cascading effect of taxation B) Tax avoidance C) Tax evasion D) Indirect tax

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Answer & Solution

Answer: Option A

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Minutes of a Company Meeting must be signed by the

A) Chairman of the Meeting B) Secretary of the Meeting C) Chairman and Secretary both D) None of the above

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Answer & Solution

Answer: Option C

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Voting in a company meeting can be through:

A) Ballot B) Raising hands C) Raising voice D) All the above

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Answer & Solution

Answer: Option D

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