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-7

Which article of TRIPs deals with patentability?

A) 25 B) 27 C) 28 D) 29

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Answer & Solution

Answer: Option B

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The formation and regulation of LLP is governed by

A) Partnership Act, 1932 B) Companies Act, 2013 C) Limited Liability Partnership Act, 2008 D) Limited Liability Partnership Act, 2010

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Answer: Option C

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Match the following in respect of RTI Act, 2005.

List-I (Appeal)	List-II (To whom)
a. First appeal	1. First Appellate Authority
b. Second appeal	2. To the officer senior in rank to the PIO
c. Third appeal	3. Central/State Information Commission

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

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Answer & Solution

Answer: Option C

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Bonus Shares mean shares issued to:

A) Workers in lieu of their share of profit B) Preference shareholders in lieu of dividend C) Existing equity shareholders without any consideration D) Debenture-holders in lieu of interest

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Answer & Solution

Answer: Option C

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Which of the following is/are the stakeholder of a company?

A) Employees B) Suppliers C) Customers D) All are correct

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Answer & Solution

Answer: Option D

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A dealer in Gujarat sells goods to a consumer in Gujarat worth Rs. 50,000. Rs. 3,000 will go to the Central Government and Rs. 3,000 will go to the Gujarat government since the sale is within the state. What is GST rate on goods?

A) 18% B) 12% C) 6% D) 10%

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Answer & Solution

Answer: Option B

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How many parties are there in a bill of exchange?

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

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Answer & Solution

Answer: Option B

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If the goods are rejected by the buyer, and the carrier or other bailee continues in possession of them, then the transit . . . . . . . . even if the seller has refused to receive them back.

A) is deemed to be at an end B) is not deemed to be at an end C) in nobody's hand D) None of the above

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Answer & Solution

Answer: Option B

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Matters to be transacted in a meeting is recorded in the

A) notice B) agenda C) minutes D) report

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Answer & Solution

Answer: Option C

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Contingent contract means:

A) A suit entrusted to any person to abide by the result of any game or other uncertain event on which may wager is made B) A contract to do or not to do something, if some event, collateral to such contract, does or does not happen C) Agreements which are not certain, or capable of being made certain D) Every agreement, by which any party thereto is restricted absolutely from enforcing his rights under or in respect of any contract

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Answer & Solution

Answer: Option B

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