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-7 section-4

If a PIO reasonably severs non-exempted portions of a record from exempted portions, and partially provides information to an applicant, he/she has to:

A) give the name and designation of the person giving the decision B) reasons for the decision C) details of fees the applicant may have to pay D) all of them

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Answer & Solution

Answer: Option D

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First return filed under GST is

A) GSTR-1 B) GSTR-2 C) GSTR-3A D) GSTR-3B

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Answer & Solution

Answer: Option D

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Which of the following is an inter-state supply?

A) Supplier of goods located in Delhi and place of supply of goods to an SEZ located in Delhi B) Supplier of goods located in Delhi and place of supply of goods in Jaipur C) Supplier of goods located in Delhi and place of supply of goods is to an SEZ located in Chandigarh D) All the above

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Answer & Solution

Answer: Option D

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Under GST law, tax rates are determined by:

A) Central Government B) State Government C) GST Council D) Central Government in consultation with state governments

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Answer & Solution

Answer: Option C

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The first step to form a Limited Liability Partnership is to:

A) Procuring Digital Signature Certificate (DSC) B) Reservation of Name C) Procuring Director Identification Number (DIN) D) Direct Incorporation of Limited Liability Partnership

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Answer & Solution

Answer: Option A

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The obligations of public authorities under RTI Act, 2005 includes
1. It shall publish the powers and duties of its officers and employees.
2. It shall publish the norms set by it for the discharge of its functions.
3. It shall not publish the statement of the categories of the documents held by it or under its control.
Choose the correct answer

A) Only 1 B) Both 1 and 2 C) Both 2 and 3 D) All of the above

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Answer & Solution

Answer: Option B

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When the Articles of Association does not authorise the change in the capital, then in order to alter the capital of a company:

A) Table 'A' should be adopted B) Articles should be altered C) Permission of the Registrar of Companies should be obtained D) Permission of the company Law Board should be obtained

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Answer & Solution

Answer: Option B

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A patent application is filed on:

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

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Answer & Solution

Answer: Option A

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"Table A" of Schedule-I of Indian Company Act provides the model of

A) Memorandum of Association B) Articles of Association C) Share Certificate D) None of the above

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Answer & Solution

Answer: Option B

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Statutory meeting of the company must be held within:

A) One month of obtaining the certificate to commence business B) Three months of obtaining the certificate of incorporation C) Six months of issuing the prospectus D) Six months of obtaining the certificate for commencement of business

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Answer & Solution

Answer: Option D

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