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-5

A company can be wound up:

A) Voluntarily B) By the order of the court C) Under the supervision of the court D) By all the above methods

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Answer & Solution

Answer: Option D

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If a Minor draw, indorse, deliver and negotiate Negotiable Instruments, it binds:

A) all the parties except minor B) all the parties including minor C) minor and only drawer D) minor and the drawee

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Answer & Solution

Answer: Option A

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Which of the following options is the Quorum of GST council, in terms of its number of members?

A) One third B) Three fourth C) Two third D) One half

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Answer & Solution

Answer: Option D

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Which one of the following statements is not correct:

A) A company secretary is a mere serveant of the company, and has no authority to represent the company B) Company secretary is the agents of the company and can blind the company with his acts C) The company secretary has the right to claim his salary as preferential creditor in case of winding up of the company D) The company secretary has the right to sign all papers on behalf of the company

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Answer & Solution

Answer: Option A

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Which of the following is an essential of contract of sale?

A) Two parties B) Sale of goods only C) Transfer of ownership D) All of these

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Answer & Solution

Answer: Option D

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Appointment Committee of Central Chief Information Commissioner (CIC) includes

A) Prime Minister B) leader of the opposition in the Lok Sabha C) one Union Cabinet Minister to be nominated by the Prime Minister D) All of the above

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Answer & Solution

Answer: Option D

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A, contracts to buy from B 1000 bags of cement. B sends 1000 bags through truck. When cement arrives it becomes stone by the contact of rainwater. Can A reject the goods?

A) Yes, breach of condition as to wholesomeness B) Yes, conditions as to merchantability C) No, B never knew himself D) No, A should have seen it

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Answer & Solution

Answer: Option B

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Casual vacancy of a director is filled by the following:

A) Board of directors B) Central Government C) Shareholders in general meeting D) Registrar of companies

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Answer & Solution

Answer: Option A

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A company shall not proceed to allot shares until the beginning of which day from the date of the issue of the prospectus:

A) Third day B) Fifth day C) Seventh day D) Tenth day

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Answer & Solution

Answer: Option B

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The discharge of contract means the

A) enforcement of obligations of parties B) coming to end of obligations of parties C) starting of obligation D) payment of carriages and penalty

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Answer & Solution

Answer: Option B

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