Legal Aspects of Business MCQ Questions and Solutions with Explanations

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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-5 section-7

Each section contains 100 MCQs on Legal Aspects of Business .

With the special permission of the Registrar. Joint Stock Companies the "financial year" of a company may, at the most be extended to:

A) 13 months B) 15 months C) 18 months D) 20 months

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Introduction of GST affects the revenue of:

A) Consuming states B) Manufacturing states C) All the states D) Central Government

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Which of the following refers to a situation in which the merger of companies results in over 25% of the market in the hands of the merged companies?

A) 'Gateway' condition B) Restrictive practice C) Share of supply' test D) 'Asset' test

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

On the basis of which of the following types 'express contracts' and 'implied contracts' fall into?

A) Based on execution B) Based on creation C) Based on enforceability D) Based on executory contracts

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Which of the following are characteristics of a company?

A) It has unlimited liability B) It exists only in contemplation of law C) It has not a perpetual succession D) It comes to an end on the death of all its members

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Which of the following statement is false?

A) No legal formality is required to form a company B) The shareholders of a company have limited liability C) A company can own property in its own name D) A company is managed by the elected representatives of shareholders

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

The written agreement between the partners is called

A) Memorandum of Association B) Articles of Association C) Partnership Deed D) Certificate of Registration

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

UTGST is applicable when:

A) sold from union territory B) goods are purchased by central government C) sold from one union territory to another union territory D) there is interstate supply

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Which one of the following is called Charter of a Company?

A) Memorandum of Association B) Prospectus C) Articles of Association D) All the above

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Termination of an agency with public authority or a public body may attract judicial intervention in writ petition

A) if the termination be unreasonable B) if the termination be arbitrary C) if the termination be unconscionable D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

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