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-11

Official liquidators are appointed from a panel of

A) Professional firms of Chartered Accountants B) Advocates C) Company Secretaries D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

To achieve its objectives, the CCI endeavours to do the following functions.
1. Develop and nurture effective relations and interactions with sectoral regulators.
2. Ensure fair and healthy competition.
3. Implement competition policies aiming for the most efficient utilisation of economic resources.
4. Make the markets work for the benefit and welfare of politicians.
Identify the correct statements.

A) Both 1 and 4 B) 2, 3 and 4 C) 1, 2 and 3 D) 1, 3 and 4

Discuss

Answer & Solution

Answer: Option C

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

Notice of dishonour is given by holder to . . . . . . . . liable under instrument.

A) drawer B) all parties C) maker D) payee only

Discuss

Answer & Solution

Answer: Option B

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

Existing goods can be classified as:

A) Ascertained goods B) Generic goods C) Both A and B D) Neither A neither B

Discuss

Answer & Solution

Answer: Option C

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

The winding up of a company can be done voluntarily by the members of the Company:

A) if the company passes a special resolution for winding up of the Company B) the company in general meeting passes a resolution requiring the company to be wound up voluntarily as a result of the expiry of the period of its duration, if any, fixed by its articles of association or on the occurrence of any event in respect of which the articles of association provide that the company should be dissolved C) both A and B D) after seeking guidelines from RoC

Discuss

Answer & Solution

Answer: Option C

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

What is the Quorum of the Annual General meeting in the case of a private company?

A) 2 members B) 3 members C) 4 members D) 5 members

Discuss

Answer & Solution

Answer: Option A

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

A company incorporated by a special Act of Parliament or any State Legislature is called

A) Government company B) Public company C) Statutory company D) Registered company

Discuss

Answer & Solution

Answer: Option C

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

Which of the following is/are an exception to the doctrine of caveat emptor?

A) Usage of trade B) Sale by sample C) Seller commits fraud D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Under Caveat Emptor, the buyer can shift the responsibility to the seller if which of the following condition/s is/are fulfilled?

A) If the buyer shares with the seller his purpose for the purchase B) The buyer relies on the knowledge and/or technical expertise of the seller C) The seller sells such goods D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Which of these is a geographical indication?

A) Champagne B) Hogwarts C) Playstation D) World Wide Web

Discuss

Answer & Solution

Answer: Option A

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