61
The rule of caveat emptor does not apply in case of
A)
fitness for buyer's purpose
B)
sale under a patent or trade name
C)
usage of trade or consent by fraud
D)
All of the above
Answer & Solution
Answer: Option
D
A)
electronic cheque
B)
electronic image of a truncated cheque
C)
Both A and B
D)
Neither A nor B
Answer & Solution
Answer: Option
C
63
Which of the following as per the Competition Act, 2002, refers to any agreements restricting in any manner the purchaser in the course of his trade from acquiring or otherwise dealing in any goods other than those of the seller or any other person?
A)
Tie-in-arrangement
B)
Exclusive supply agreement
C)
Exclusive distribution agreement
D)
Refusal to deal
Answer & Solution
Answer: Option
B
64
Which of the following statements is not true:
A)
To write off goodwill out of retained income is neither a source nor an application of funds
B)
To declare dividend on equity share capital is an application of funds
C)
To issue bonus shares is not a source of funds
D)
Payment to creditors does not affect the amount on net working capital
Answer & Solution
Answer: Option
B
65
Assistant Public Information Officer (APIO) has to receive the following from the citizens.
A)
Applications for information
B)
First appeal
C)
Second appeal
D)
All of the above
Answer & Solution
Answer: Option
A
66
The first Annual General Meeting of a Company must be held within:
A)
12 months from the date of its incorporation
B)
12 months from the date of commencement of business
C)
18 months from the date of its incorporation
D)
18 months from the date of commencement of business
Answer & Solution
Answer: Option
C
67
Certificate to commence business is essential for
A)
a public company
B)
a private company
C)
Both A and B
D)
None of these
Answer & Solution
Answer: Option
A
68
Under the Companies Act, 1956, a private company must have at least
A)
Seven Directors
B)
Three Directors
C)
Two Directors
D)
One Director
Answer & Solution
Answer: Option
C
69
When is the communication of proposals, the acceptance of proposals and the revocation of proposals deemed to be made?
A)
Only on clear verbal communication of such proposal, acceptance or revocation
B)
By any act or omission of the party by which he intends to communicate such proposal, acceptance or revocation or has the effect of communicating it
C)
Only when the proposal, acceptance or revocation of the proposal is recorded in writing
D)
Only when the proposal, acceptance or revocation of the proposal is received and understood by the other party receiving the information
Answer & Solution
Answer: Option
B
70
Which of the following points compare negotiated instruments and assignment?
A)
Negotiation requires delivery only to constitute a transfer, whereas assignment requires a written document signed by the transferor
B)
Consideration is always presumed in the case of transfer by negotiation. In the case of assignment consideration must be proved
C)
In case of negotiation, notice of transfer is not necessary, whereas in the case of assignment notice of the transfer must be given by the assignee to the debtor
D)
All of the above
Answer & Solution
Answer: Option
D
