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-8 section-5

Where seller wrongfully neglects or refuses to deliver goods to buyer, the buyer may sue for

A) non-delivery of goods B) possession of goods C) compensation D) All of these

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Answer & Solution

Answer: Option A

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"Principle of constructive notice" applies to:

A) Registrar of companies B) Outside persons dealing with companies C) Middle level management D) None of the above

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Answer & Solution

Answer: Option B

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'Right to Information' includes the right to obtaining information in the form of

A) diskettes B) floppies C) tapes D) All of these

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Answer & Solution

Answer: Option D

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Within how many days from the date of registration the first auditor of the company should be appointed?

A) 10 B) 20 C) 30 D) 40

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Answer & Solution

Answer: Option C

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Find out the correct one:

A) Writing, registration and legal formalities forms an essential element of a contract B) Registration is compulsory in partnership contract C) Registration is not mandatory in case of documents falling within the parview of Sec. 17 of the Registration Act D) Possibility of performance clause is not applicable in the essential elements of a contract E) Whenever one or more persons promise to one or others to do or not to do something is known as contract

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Answer & Solution

Answer: Option A

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Under the Companies Act 1956 'Provision' means retaining profits for:

A) Any known liability the amount of which can be ascertained with substantial accuracy B) Any known liability the amount of which cannot be ascertained with substantial accuracy C) Any unknown liability D) Any general or specific purpose

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Answer & Solution

Answer: Option B

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Name of a company can be changed by:
OR
A company can change its name by:

A) An ordinary resolution B) A special resolution C) On approval of the central government D) A special resolution and with approval of the central government

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Answer & Solution

Answer: Option D

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Qualification shares' are prescribed for

A) Officers of the Company B) Directors the Company C) Creditors the Company D) Auditors of the Company

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Answer & Solution

Answer: Option B

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Under GST law, compensation cess is applicable on:

A) Luxury articles and demerit goods B) All goods C) Petroleum products and Alcohol D) Consumer goods

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Answer & Solution

Answer: Option A

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The optimum capital structure of a company is planned as per considerations of
(I) Profitability
(II) Solvency
(III) Marketability of shares
(IV) Control

A) I, II and IV only B) II, III and IV only C) I and II only D) III and IV only

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Answer & Solution

Answer: Option B

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