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-8

Document which is defining the role and obligations of partner in LLP?

A) Partnership deed B) LLP agreement C) MoA D) AoA

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Answer & Solution

Answer: Option B

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What element does copyright law protects?

A) Tangible property B) Intangible property C) The name of a particular goods or service D) Ideas contained in varied forms of expression

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Answer & Solution

Answer: Option B

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Which of the following is signified by the statement-One who undertakes to form a company with reference to a given object and set it going and who takes the necessary steps to accomplish that purpose?

A) Promoter B) Directors C) Chief Executive Officer D) Board of Directors

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Answer & Solution

Answer: Option A

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Dividend becomes payable, when it is

A) Recommended by the directors B) Solicited by the shareholders C) Recommended by the directors and approved by the shareholders D) Solicited by the creditors

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Answer & Solution

Answer: Option C

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Which of the following is not a promissory note?

A) Bank note B) Currency note C) Both A and B D) Neither A nor B

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Answer & Solution

Answer: Option C

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Copy of the financial statement is to be filed with registrar within how many days of date of Annual General Meeting?

A) 30 days B) 60 days C) 90 days D) 120 day

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Answer & Solution

Answer: Option A

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Which of the following statements is construed to be false?

A) A person eligible to be appointed as a liquidator shall be considered independent if he is eligible to be appointed as an independent director under Section 149 of Companies Act, 2013 if the corporate person is a company B) A person eligible to be appointed as a liquidator shall be considered independent if he is not a related party of the corporate person C) A person eligible to be appointed as a liquidator shall be considered independent if he has been an employee or proprietor or partner of a firm of auditors D) A person eligible to be appointed as a liquidator shall be considered independent if he has not been an employee or proprietor or partner of legal firm contributing 10% or more of the gross turnover of such firm.

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Answer & Solution

Answer: Option C

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The area of intellectual property includes
1. copyrights and related rights.
2. trademarks including service marks.
3. industrial designs
4. the lay-out designs of integrated circuits.
Select the correct answer

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

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Answer & Solution

Answer: Option C

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When two or more persons have made a joint promise, then, unless a contrary intention appears from the contract; all such persons must fulfil the promise:

A) jointly B) severally C) jointly or severally D) jointly and severally

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Answer & Solution

Answer: Option D

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GSTIN is GST identification number or GST number. A GSTIN is a PAN-based unique identification number allotted to every registered person under GST. What are the total number of digits in GSTIN?

A) 10 B) 12 C) 15 D) 18

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Answer & Solution

Answer: Option C

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