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-2

A proposal cannot be revoked in Indian Contract by:

A) the communication of notice of revocation by the proposer to the other party B) the failure of the acceptor to fulfil a condition precedent to acceptance C) the lapse of the time prescribed in such proposal for its acceptance D) an act involving moral turpitude of the proposer, whether related to the proposal or otherwise

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Answer & Solution

Answer: Option D

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Who constitute the top administrative organ of the company?

A) General Manager B) Shareholders C) Board of Directors D) Advisory panel

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Answer & Solution

Answer: Option C

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The advance money received from the shareholders before the calls are made is

A) Residual call amount is debited to the account B) Debited to call in advance account C) Residual call amount is credited to the account D) Credited to call in advance account

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Answer & Solution

Answer: Option D

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Consider the following statements about the Right to Information (RTI) Act, 2005 and select one which is not provided for or specially exempted?

A) It is not applicable in the state of Jammu and Kashmir B) An applicant making request for information will have to give reasons for seeking information C) Removal of Chief Information Officer D) Every Information Commissioner shall hold office for a term of 5 years or till the age of 65 years whichever is earlier

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Answer & Solution

Answer: Option C

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The Negotiable Instrument Act came into force on

A) 1^st June, 1881 B) 1^st May, 1881 C) 1^st March, 1882 D) 1^st January, 1881

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Answer & Solution

Answer: Option C

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The term company is defined under which section of the Act?

A) Section 3(1) B) Section 4(2) C) Section 2(4) D) Section 1(3)

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Answer & Solution

Answer: Option A

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How much time does an APIO, at the most, have to forward the RTI application/appeal to the Public Information Officer/first Appellate Authority?

A) 5 days B) 30 days C) 35 days D) 45 days

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Answer & Solution

Answer: Option A

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DPIN stands for:

A) Designated Partner Identification Number B) Director Personal Identification Number C) Director and Partner Identification Number D) Direct Partner Identification Number

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Answer & Solution

Answer: Option A

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A change in the registered office of the company from one state to another can be affected by:

A) a resolution of the Board of Directors B) an ordinary resolution C) a special resolution D) a special resolution and confirmation from the Company Law Board

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Answer & Solution

Answer: Option D

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Right against goods include

A) right of rem B) right of personam C) Both A and B D) None of these

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Answer & Solution

Answer: Option A

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