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-6 section-10

First appeal shall be disposed of by the first appellate authority within . . . . . . . . days from the date of its receipt.

A) 30 B) 40 C) 50 D) 60

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Answer & Solution

Answer: Option A

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The Indian Contract Act, 1872 extends to

A) whole of India B) whole of India excluding Jammu and Kashmir C) North India D) South India

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Answer: Option B

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A voluntary winding-up is deemed to commence from the date when the declaration of solvency is made by the

A) manager B) a court of competent jurisdiction C) Board of Directors D) Central Government

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Answer: Option C

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Which of the following as per the Competition Act, 2002, refers to any agreement which restricts or is likely to restrict, by any method the persons or classes of persons to whom goods are sold or from whom goods are bought?

A) Tie-in-arrangement B) Exclusive supply agreement C) Exclusive distribution agreement D) Refusal to deal

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Answer: Option D

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A private company is deemed to be a public company, if:

A) Not less than fifty per cent of its paid-up capital is held by one or more bodies corporate B) Not less than twenty five percent of its paid-up capital is held by one or more bodies corporate C) The average annual turnover of the private company during the three consecutive financial years is rupees five crores or more D) The paid-up capital of the private company exceeds rupees one crore

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Answer: Option B

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In the following warranty, the warrantor limits the scope of a full warranty in some way (for example, a return of the purchase price only).

A) full implied B) full express C) limited implied D) limited

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Answer: Option D

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Which section of IT Act deals with cyber terrorism?

A) Section 66 A B) Section 66 B C) Section 66 D D) Section 66 F

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Answer: Option D

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Who cannot become partner in LLP?

A) Person who has been found of unsound mind B) Person who is an undischarged insolvent C) Person who has applied to be adjudicated as an insolvent D) All of the above

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Answer: Option D

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In which case, a registered dealer has to issue a payment voucher?

A) Reverse Charge B) Casual Taxable Person C) Export D) Composition dealers

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Answer: Option A

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What is the maximum number of members to be appointed by the Central Government in CCI, as per the Competition Act, 2002?

A) 4 B) 5 C) 6 D) 7

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Answer: Option C

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