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-9 section-8

Each section contains 100 MCQs on Legal Aspects of Business .

What is the total number of schedules under Right to Information Act, 2005?

A) 5 B) 10 C) 2 D) 8

Discuss

Answer & Solution

Answer: Option C

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

The maximum number of members in a private limited company can be

A) 20 B) 50 C) 200 D) Unlimited

Discuss

Answer & Solution

Answer: Option C

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

The operations of banks and financial institutions are regulated by:

A) The RBI Act, 1934 B) The Banking Regulation Act, 1949 C) Information Technology Act, 2000 D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

EDI system got legal recognition under which one of the following Acts?

A) Electronics Act, 1996 B) Right to Data Act, 1998 C) DGFT Act, 1999 D) Information Technology Act, 2000

Discuss

Answer & Solution

Answer: Option D

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

Which of the following statement is not correct about GST?

A) GST is like a last point retail tax, it is going to be collected at point of sale B) GST will abolish all the direct tax levied in India C) It is implemented from 1^st July, 2017 throughout the country D) It will unified the tax structure in India

Discuss

Answer & Solution

Answer: Option B

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

The first auditor in a company limited by shares may be appointed by the directors:

A) Within a year of its registration B) Before the statutory meeting C) At the time of first annual general meeting D) Any time in consultation with the Institute of Chartered Accountants of India

Discuss

Answer & Solution

Answer: Option B

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

Performance of the conditions of a proposal, or the acceptance of any consideration for a reciprocal promise which may be offered with a proposal, is an . . . . . . . . of the proposal.

A) Acceptance B) Mutual Acceptance C) Written Acceptance D) Reciprocal Promise

Discuss

Answer & Solution

Answer: Option A

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

What is the maximum duration allowed under right to priority for patent filing?

A) One year B) Two years C) Five years D) Depends on legal jurisdiction and patentable product

Discuss

Answer & Solution

Answer: Option A

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

What is public domain?

A) Work belonging to the public as a whole B) Work that people know about C) Work that is in public D) All of the above

Discuss

Answer & Solution

Answer: Option A

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

A contract creates

A) rights in personam B) rights in rem C) only rights and no obligations D) only obligations and no rights

Discuss

Answer & Solution

Answer: Option A

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