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-8 section-6

Each section contains 100 MCQs on Legal Aspects of Business .

Which of the following as per the Competition Act, 2002 is exempted as anti-competitive agreement?

A) Patent B) Trademark C) Copyright D) All of these

Discuss

Answer & Solution

Answer: Option D

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

Recently, a system has been launched on a trial basis starting from January 2020 and applicable from October 2020. This system requires large businesses with an annual aggregate turnover of more than Rs. 100 crore to comply with some requirements. This system is called

A) e-way bill system B) e-invoicing system C) e-commerce system D) business system

Discuss

Answer & Solution

Answer: Option B

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

When can a proposal be revoked in Indian Contract?

A) Once a proposal is made, it cannot be revoked B) Any time before or after the communication of acceptance is complete C) Any time before the communication of its acceptance is complete as against the proposer, but not afterwards D) Any time before the proposal comes to the knowledge of the other party, but not afterwards

Discuss

Answer & Solution

Answer: Option C

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

Which of the following rights belong to a patentee?

A) Sell or distribute B) License C) Assign the property to others D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

The components of IT Act, 2000 includes
1. Legal recognition of digital signatures.
2. Regulation of certification authorities.
3. Digital certificates

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

Discuss

Answer & Solution

Answer: Option D

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

What is the fee for getting information under RTI Act?

A) Rs. 10 B) Rs. 20 C) Rs. 50 D) Rs. 100

Discuss

Answer & Solution

Answer: Option A

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

It is necessary to call a meeting of board of directors at least once

A) Every month B) Every three months C) Six month D) A year

Discuss

Answer & Solution

Answer: Option B

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

Which of the following is not a necessary feature to convert a proposal into a promise?

A) The acceptance must be absolute B) The acceptance must be within the prescribed time limit C) The acceptance must be unqualified D) The acceptance must be expressed in some usual and reasonable manner

Discuss

Answer & Solution

Answer: Option B

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

The First Appellate Authority should decide on first appeals:

A) Within 30 days from the receipt of the first appeals B) In less number of days than the Public Information Officer concerned took to take a decision on the application C) Within 45 days from the date of receipt of the appeal, if the reasons are recorded D) Both A and C

Discuss

Answer & Solution

Answer: Option D

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

Negotiation may be affected in which of the following way/s?

A) Negotiation by delivery B) Negotiation by endorsement and delivery C) Both A and B D) There is no such way

Discuss

Answer & Solution

Answer: Option B

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