Legal Aspects of Business MCQ Questions and Solutions with Explanations

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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-9

Each section contains 100 MCQs on Legal Aspects of Business .

A engages B as clerk to collect money for him. B fails to account for some of his receipts and A in consequence calls upon him to furnish security for his duly accounting. A does not acquaint C with B's previous conduct. B afterwards makes default.

A) The guarantee is not invalid B) The guarantee is partly invalid C) The guarantee is invalid D) None of the above

Discuss

Answer & Solution

Answer: Option C

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

For mis-statement in a company prospectus, the auditor liability incurs

A) Civil liability B) Criminal liability C) Contractual liability D) None of the above

Discuss

Answer & Solution

Answer: Option D

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

What happens to a continuing guarantee in case of surety's death?

A) Indemnification from the property of the surety with regard to future transactions B) Revocation of the continuing guarantee with regard to future transactions C) The continuing guarantee shall continue in the name of the surety's heirs D) The continuing guarantee shall be continued by any other person

Discuss

Answer & Solution

Answer: Option B

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

Which of the following is beyond the powers of the Board of Directors?

A) To issue debentures B) To make loans C) To remit the payment of any debt due by a director D) To issue prospectus

Discuss

Answer & Solution

Answer: Option C

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

For an e-commerce operator, GST registration threshold limit is

A) Rs. 20 lakh B) Rs. 50 lakh C) Rs. 75 lakh D) None of these

Discuss

Answer & Solution

Answer: Option C

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

In case of company who will signed on return of income?

A) Managing director B) Manager C) Auditor D) Accountant

Discuss

Answer & Solution

Answer: Option A

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

Cost Auditor is appointed by

A) State Government B) Central Government C) Board of Directors D) Share holders of the Company

Discuss

Answer & Solution

Answer: Option C

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

A company secretary:

A) Is not at all concerned with accounts and audit B) Is indierctly concerned with accounts and audit C) Is directly responsible for accounts and audit D) Can be lawfully punished for manipulation of accounts

Discuss

Answer & Solution

Answer: Option D

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

Which of the following sections of Companies Act, 2013 defines the company?

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

Discuss

Answer & Solution

Answer: Option C

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

The indemnity holder is NOT entitled to

A) All damages which he may be compelled to pay in any suit in respect of any matter to which the promise applies B) All costs that he may be compelled to bear in defending any such suit C) All sums that he may have paid under the terms of any compromise of such suit D) Damages for liability incurred which is not absolute

Discuss

Answer & Solution

Answer: Option D

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

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Legal Aspects of Business MCQ Questions and Solutions with Explanations | Commerce