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-6 section-2

Each section contains 100 MCQs on Legal Aspects of Business .

Which one of the following statement is not correct?

A) A private company is not required to prepare a Statutory Report B) Sharing of profit is a prima facie, but not conclusive, evidence of partnership C) The maximum number of members in a private company can be 50 D) The minimum number of members in a private company should not be less than 7

Discuss

Answer & Solution

Answer: Option D

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

In most countries, how long does copyright last for:

A) 10 years after the creation of the work B) 50 years after the creation of the work C) 10 years after the death of the person who created that work D) 50 years after the death of the person who created that work

Discuss

Answer & Solution

Answer: Option D

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

A first appeal against the decision of a PIO can be preferred by

A) an applicant B) a person from within the public authority C) a person outside the public authority to whom the information pertains D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Arrange the steps of incorporation of an LLP in sequence:
1. Application for DPIN
2. Filing of LLP agreement
3. Application for DSC
4. Incorporation of LLP

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

Discuss

Answer & Solution

Answer: Option B

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

Which of the following section of Negotiable Instrument Act defines cheque?

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

Discuss

Answer & Solution

Answer: Option C

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

When buyer pays some part of the price of goods to the seller, the seller is called

A) unpaid seller B) partly paid-up seller C) short paid seller D) None of these

Discuss

Answer & Solution

Answer: Option A

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

What is the duration of a trademark registration as defined by Trademarks Act, 1999?

A) 2 years B) 5 years C) 10 years D) Depends on the commercial value of infringement

Discuss

Answer & Solution

Answer: Option C

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

Which combination of the following represents the assumptions of the Walter's dividend model?
I. The company has a very long or perpetual life.
II. All earnings are either reinvested internally or distributed as dividend.
III. There is no floatation cost for the company.
IV. Cost of capital of the company is constant.

A) I, II, III B) II, III, IV C) I, II, IV D) I, III, IV

Discuss

Answer & Solution

Answer: Option C

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

Where in a contract of sale the seller purports to effect the present sale of the future goods, the contract operates as:

A) a contract of sale B) an agreement to sell the goods C) a contact of sale or agreement to sell D) it is not a valid contract

Discuss

Answer & Solution

Answer: Option B

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

After introduction of GST, supplies to SEZ are:

A) Subject to IGST B) Subject to CGST plus SGST C) Zero rated D) SGST plus CGST plus IGST

Discuss

Answer & Solution

Answer: Option C

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