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-5

Who is the Chairperson of GST Council?

A) Union Finance Minister B) Always nominated by the Government C) Always nominated by Council D) Always elected by President

Discuss

Answer & Solution

Answer: Option A

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

"While inquiring into a complaint, Information commission have the power to"
1. summon and enforce attendance of persons.
2. compel them to give evidence on oath and produce documents or things.
3. require discovery and inspection of documents.
Choose the correct answer

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

Discuss

Answer & Solution

Answer: Option B

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

A private limited company:

A) Must hold Statutory Meeting within one year of the certificate of incorporation B) Must hold Statutory Meeting within six months of the certificate of incorporation C) Must hold Statutory Meeting within 3 months of the certificate of Commencement of Business D) Neet not hold Statutory Meeting

Discuss

Answer & Solution

Answer: Option D

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

The Second Schedule of the RTI Act, 2005 can be amended by

A) Central Govt B) State C) Both A and B D) None

Discuss

Answer & Solution

Answer: Option A

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

Match the following.

List-I (Sections)	List-II (Explanation)
a. Section 68	1. Liability of finder of goods
b. Section 69	2. Supply of necessaries to incompetent person
c. Section 70	3. Payment made by interested persons
d. Section 71	4. Compensation for non-gratuitous acts

A) a-1, b-2, c-3, d-4 B) a-2, b-3, c-4, d-1 C) a-3, b-2, c-1, d-4 D) a-3, b-4, c-2, d-1

Discuss

Answer & Solution

Answer: Option B

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

The doctrine of internal management states that

A) The directors of the company should perform the business of the company with the permission of the shareholders B) The director is free to do internal administration of the company as per his choice C) External persons should not interfere in the internal affairs of the company D) Outsiders dealing with the company have the right to assume that the company has fully complied with the provision of article of association

Discuss

Answer & Solution

Answer: Option D

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

The guarantor's right to indemnifications a right to be reimbursed.
Statement I The amount which is actually paid for the principal debtor with interest.
Statement II Because, he is entitled to full indemnification from the principal debtor.

A) Statement I is true, but Statement II is false B) Statement I is false, but Statement II is true C) Both statements are true D) Both statements are false

Discuss

Answer & Solution

Answer: Option C

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

A contract containing an undertaking to do an impossible act, is

A) void ab initio B) voidable C) valid D) illegal

Discuss

Answer & Solution

Answer: Option A

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

In India, the literary work is protected until

A) lifetime of author B) 25 years after the death of author C) 40 years after the death of author D) 60 years after the death of author

Discuss

Answer & Solution

Answer: Option D

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

Which of the following area is not regulated by Competition Act, 2002?

A) Anti-competitive agreements B) Predatory pricing C) Medical negligence D) Abuse of dominant position

Discuss

Answer & Solution

Answer: Option C

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