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-5

What is the most crucial component of the Competition Act, 2002?

A) Abuse of dominance B) Anti-competition agreement C) Combination regulations D) Competition advocacy

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Answer & Solution

Answer: Option D

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As per the act, who can file a petition to the Tribunal for winding-up?

A) The Registrar B) Company C) Contributory D) All of these

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Answer & Solution

Answer: Option D

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Who will notify the rate of tax to be levied under CGST?

A) GST council suo moto B) Central Government suo moto C) State Government suo moto D) Central Government as per the recommendations of the GST council

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Answer & Solution

Answer: Option D

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An agreement is a voidable contract when it is

A) enforceable B) enforceable by law at the option of the aggrieved party C) enforceable by both the parties D) Not enforceable at all

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Answer & Solution

Answer: Option B

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A charge created on the stock in trade of a business is:

A) Fixed charge B) Floating charge C) Both A and B D) At a time, it can be only one charge

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Answer & Solution

Answer: Option B

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A company issues invitation to public to subscribe to its shares and debentures through

A) Memorandum of Association B) Articles of Association C) Prospectus D) Banks

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Answer & Solution

Answer: Option C

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Which of the following are not included in the term 'goods' defined under section 2(7) of the Sale of Goods Act, 1930?

A) Stock B) Shares C) Growing crops D) Actionable claims

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Answer & Solution

Answer: Option D

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As per section 205(2A) a company is obliged to transfer at least what amount is accumulations, if the rate of dividend is more than 20% of the paid up capital?

A) 5% B) 2.5% C) 10% D) 7.5%

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Answer & Solution

Answer: Option C

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Which of the following most appropriately describes the term 'sale' as per Sale of Goods Act, 1930?

A) A contract where by seller transfers the property in goods B) A contract whereby seller transfers or agrees to transfer the property in goods to the buyer for a price C) A contract where transfer of the property in goods is to take place at a future time D) A contract where transfer of the property in goods is to take place subject to some condition thereafter to be fulfilled

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Answer & Solution

Answer: Option B

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Which of the following is an intellectual property?

A) Patents B) Copyright C) Trademarks D) All of the above

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Answer & Solution

Answer: Option D

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