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-7

When a party of the contract fails to perform a contract within the fixed time

A) such contract remains valid provided the promise is fulfilled whether at the time of performance or later B) such a contract becomes void C) such contract becomes voidable at the option of the promise if the intention of the parties was that time should be of essence of the contract D) such a contract becomes voidable at the option of the promises or promise and the intention of the parties does not matter

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Answer & Solution

Answer: Option C

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GST is collected across five tax slabs that falls in 0%, 5%, 12%, 18% and 28%. However, the charges across products and SGST and CGST cannot exceed:

A) 28 B) 14 C) 20 D) 30

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Answer & Solution

Answer: Option C

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The doctrine of indoor management provides protection to:

A) The board of director B) The shareholders C) The managing directors D) The outsiders

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Answer & Solution

Answer: Option D

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Patentability criteria includes:

A) Novelty B) Inventive step C) Capable of Industrial application D) All the above

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Answer & Solution

Answer: Option D

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Which one of the following falls into the category of offer?

A) Newspaper advertisement regarding sale B) Display of goods by a shopkeeper in his window with prices marked on them C) An advertisement for a concert D) Announcement of reward to the public

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Answer & Solution

Answer: Option C

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What is the quorum of a general meeting in case of a private company which is subsidiary of a public company:

A) 2 members B) 3 members C) 5 members D) 7 members

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Answer & Solution

Answer: Option C

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A cheque is a bill of exchange which is drawn on a

A) specified banker B) specified person C) special party D) None of the above

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Answer & Solution

Answer: Option A

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Which of the following is not an intellectual property law?

A) Trademark Act, 1999 B) Patent Act, 1970 C) Customs Act, 1962 D) Copyright Act, 1957

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Answer & Solution

Answer: Option C

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Which of the following suit(s) can be filed by the unpaid seller against buyer?

A) Suit for damages for non-acceptance of delivery B) Suit for damages for repudiation of contract C) Suit for interest D) All of the above

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Answer & Solution

Answer: Option D

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Which is the Act which provides legal framework for e-Governance in India?

A) IT (amendment) Act 2008 B) Indian Penal Code C) IT Act 2000 D) None of the above

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Answer & Solution

Answer: Option C

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