Legal Aspects of Business MCQ Questions and Solutions with Explanations

31

Which of the following expression is used in the Indian Contract Act in the part dealing with quasi-contracts?

A) Quasi contractual obligations B) Certain relations of quasi contractual obligations C) Certain relations resembling those created by contract D) Obligations in the absence of actual contract

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Answer & Solution

Answer: Option C

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32

Which one of the following is not correct relating to competition policy a law?

A) Collusion and dominance have prudential for unfair competition B) The appeal against decisions of competition commission of India can be mead to the competition appellate tribunal C) State monopolies, governments business policies and functioning of regulatory authorities cannot be scrutinised under this law D) Abuse of dominance rather than dominance should be the key for competition policy law

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Answer & Solution

Answer: Option C

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33

Which of the following tax is not subsumed in GST?

A) VAT B) Stamp Duty C) Entry Tax D) Entertainment Tax

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Answer & Solution

Answer: Option B

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34

Which section of IT Act deals with Child pornography

A) Section 67D B) Section 67F C) Section 67C D) Section 67B

Discuss

Answer & Solution

Answer: Option D

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35

Assume that a bollywood actor sets up his own company to sell his own range of clothes in India. What type of intellectual property should he use to show the originality of the products?

A) Geographical indications B) Patents C) Registered designs D) Trademarks

Discuss

Answer & Solution

Answer: Option D

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36

In which of the following ways Secretary of a Company can be removed from his office?

A) By a resolution passed in the meeting of the Board of Directors B) By an order of the Registrar of Companies C) By a resolution passed in the Annual General Meeting D) None of the above

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Answer & Solution

Answer: Option A

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37

Negotiable Instruments (Amendment) Bill, 2017 inserted a provision allowing a court trying an offence related to cheque bouncing, to direct the drawer (person who writes the cheque) to pay interim compensation to the complainant. The interim compensation will not exceed which of the following percentage of the cheque amount?

A) 15% B) 25% C) 30% D) 20%

Discuss

Answer & Solution

Answer: Option D

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38

IGST tax levy means

A) within state B) between two states C) between two countries D) None of these

Discuss

Answer & Solution

Answer: Option B

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39

The officer designated by the public authorities in all administrative units or offices under it to provide information to the citizens requesting for information under the Right to Information Act, 2005 are called:

A) Appellate Authority B) Chief Information Commissioner (CIC) C) Public Information Officer (PIO) D) Assistant Public Information Office

Discuss

Answer & Solution

Answer: Option C

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40

In case there is a contract for sale of goods by sample and description, it is necessary that:

A) the bulk of goods shall correspond with sample while it is not necessary that the bulk of goods shall correspond with the description B) the bulk of goods shall correspondent with the description and it is not necessary that the bulk of goods correspond with the sample C) the bulk of goods shall correspond with the sample as well as description D) variation of the bulk of goods with the sample and description of goods is only to be treated as a breach of warranty

Discuss

Answer & Solution

Answer: Option C

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Legal Aspects of Business MCQ Questions and Solutions with Explanations | Commerce