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-9 section-10

Trade mark

A) is represented graphically B) is capable of distinguishing the goods or services of one person from those of others C) may include shapes of goods or combination of colours D) All of the above

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Answer & Solution

Answer: Option D

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An instrument in writing containing an unconditional order to pay a certain sum, is called

A) promissory note B) bill of exchange C) cheque D) All of these

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Answer & Solution

Answer: Option B

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If information sought has been supplied by third party or is treated as confidential by that third party, the third party must be given a representation before the PIO in reply to the notice issued to him within . . . . . . . . days from the date of receipt of such notice.

A) 5 B) 15 C) 10 D) 7

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Answer & Solution

Answer: Option C

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Which of the following statements are true in context of a company under Company Act, 2013?
1. The minimum capitals are necessary, both in case of private and public companies.
2. A public company can be converted into a private company by passing a special resolution.
3. A private company must alter its article by passing a special resolution to convert into public company.

A) 1 and 2 B) 2 and 3 C) 1 and 3 D) 1, 2 and 3

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Answer & Solution

Answer: Option B

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An agent's authority can be created:

A) only by expressly writing the terms thereof B) only by implication C) only by expressly writing the terms thereof and registering the same with sub-registrar D) either expressly or impliedly

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Answer & Solution

Answer: Option D

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Which one of the following is a void contract?

A) Unilateral contract B) A contract which ceases to be enforceable by law C) Implied contract D) Express contract

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Answer & Solution

Answer: Option B

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The director of a company may be:

A) a person B) a firm C) a body corporate D) all of the above

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Answer & Solution

Answer: Option D

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That personal leverage can replace corporate leverage' is assumed by

A) Traditional Approach B) MM Model C) Net Income Approach D) Net Operating Income Approach

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Answer & Solution

Answer: Option B

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Which of the subsequent taxes have subsumed in GST?

A) Central excise duty B) Central sales tax C) VAT D) All of these

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Answer & Solution

Answer: Option D

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Minutes of the meeting of the members of the company are to be confirmed by:

A) Chairman of the same meeting B) Chairman of the immediate next meeting C) Chairman of the Board of Directors D) As per Articles of the Association

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Answer & Solution

Answer: Option A

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