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-3

An act ultra virus the directors can be rectified, if it does not ultra virus

A) The articles B) The memorandum C) Company Act D) None of the above

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Answer & Solution

Answer: Option C

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A private company:

A) Has to register its Articles of Association B) Cannot register its Articles of Association C) Does not have any Articles of Association D) May or may not have its own Articles of Association

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Answer & Solution

Answer: Option A

Solution:

A private company must register its Articles of Association.

Articles of Association is a vital document for a private company, detailing the regulations for a company's operations and defining its purpose.

The Companies Act mandates that a private company is required to register its Articles of Association along with the Memorandum of Association at the time of incorporation.

Failure to register the Articles of Association would mean that the company does not have a formal set of rules governing its internal management.

Therefore, registering the Articles of Association is a legal necessity for a private company to be formally recognized and to operate lawfully.

What is the time limit to get the information under RTI Act, 2005?

A) 15 days B) 30 days C) 45 days D) 60 days

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Answer & Solution

Answer: Option B

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The authentication to be affected by use of asymmetric Crypto system and hash function is known as

A) public key B) private key C) digital key D) e-governance

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Answer & Solution

Answer: Option C

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Limited Liability Partnership is simply a mixture of:

A) only Public Limited Company and Partnership Firm B) private limited Company and Partnership Firm C) two simple partnership firms D) public Limited Company and Private Limited Company

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Answer & Solution

Answer: Option B

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Which of the following sections of various acts were amended for the sake of IT Act 2000?

A) Indian Penal Code 1860 B) Indian Evidence Act 1872 and Bankers Book Evidence Act 1891 C) Reserve Bank of India Act 1934 D) All the above

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Answer & Solution

Answer: Option D

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Which of the following law governs the procedure for winding up of Company in India?

A) Section 270, Companies Act 2013 B) Section 232, Companies Act 2013 C) Section 231, Companies Act 2013 D) Section 230, Companies Act 2013

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Answer & Solution

Answer: Option A

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A directs B, his solicitor, to sell his estate by auction and so employ an auctioneer for the purpose. B names C, an auctioneer to conduct the sale.

A) C is a sub agent, and A's sub agent for the conduct to the sale B) C is not sub-agent, but B's agent for the conduct for the sale C) C is not a sub-agent, but A's agent for the conduct of the sale D) None of the above

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Answer & Solution

Answer: Option C

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Which one of the following meetings of a company can be called by a company secretary himself:

A) Annual General Meeting B) Extraordinary General Meeting C) Meeting of the creditors D) Directors Meeting

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Answer & Solution

Answer: Option D

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The secretary cannot disclose to Shareholders about

A) change in area of operation B) change in administrative office C) change in business policy D) change in organisational structure

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Answer & Solution

Answer: Option C

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