Legal Aspects of Business MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10 Section 11

1.
Second appeal to the Central Information Commission or the State Information Commission can be preferred by the applicant within . . . . . . . . days from the date on which the decision was given or should have been made by the first Appellate Authority.

A. 30

B. 45

C. 60

D. 90

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2.
The extent of the liability under an indemnity depends on

A. the nature and terms of the contract

B. the case which must be governed by his own facts and circumstances

C. Both A and B

D. None of the above

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3.
Match the following.

List-I List-II

a. Definition of Negotiable Instrument 1. Section 4

b. Promissory Note 2. Section 5

c. Bill of Exchange 3. Section 6

d. Cheque 4. Section 13

A. a-1, b-2, c-3, d-4

B. a-4, b-1, c-2, d-3

C. a-4, b-3, c-2, d-1

D. a-2, b-3, c-1, d-4

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4.
Contractual rights and duties are created by

A. state

B. statue

C. parties

D. custom or usage

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5.
A company secretary has no right to:

A. Exercise control and supervision of activities of the company departments

B. Sign documents which require authentication of the company

C. Demand his outstanding salary as a preferential creditor on the winding up of the company

D. Call the annual General Meeting of the company

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6.
The Competition Act, 2002, seeks to regulate:

A. Anti-competitive agreements

B. Mergers and amalgamation

C. Unfair trade practices

D. Both A and B

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7.
According to the provisions of Companies Act, 2013, the amount of minimum application money to apply for shares should be at least . . . . . . . .% of face value of the share.

A. 5%

B. 10%

C. 20%

D. 25%

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8.
GST is a . . . . . . . .

A. Multipoint Tax

B. Single point Tax

C. Regressive Tax

D. None of the above

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9.
. . . . . . . . contract is made by spoken words.

A. Implied

B. Express

C. Void

D. Special

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10.
The company, after solving all its liability, has to distribute the excess among the shareholders and then formally dissolved or cease to exist. Thus, the main objective of winding up of a company is:

A. To facilitate the protection of its assets

B. To convert the company into private company if it is a public company

C. To convert the company into public company if it is a private company

D. To change the Memorandum and Articles

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1 2 3 4 5 6 7

List-I	List-II
a. Definition of Negotiable Instrument	1. Section 4
b. Promissory Note	2. Section 5
c. Bill of Exchange	3. Section 6
d. Cheque	4. Section 13

Legal Aspects of Business MCQ Questions and Solutions with Explanations | Commerce

1. Second appeal to the Central Information Commission or the State Information Commission can be preferred by the applicant within . . . . . . . . days from the date on which the decision was given or should have been made by the first Appellate Authority.

Answer & Solution

2. The extent of the liability under an indemnity depends on

Answer & Solution

3. Match the following. List-I List-II a. Definition of Negotiable Instrument 1. Section 4 b. Promissory Note 2. Section 5 c. Bill of Exchange 3. Section 6 d. Cheque 4. Section 13

Answer & Solution

4. Contractual rights and duties are created by

Answer & Solution

5. A company secretary has no right to:

Answer & Solution

6. The Competition Act, 2002, seeks to regulate:

Answer & Solution

7. According to the provisions of Companies Act, 2013, the amount of minimum application money to apply for shares should be at least . . . . . . . .% of face value of the share.

Answer & Solution

8. GST is a . . . . . . . .

Answer & Solution

9. . . . . . . . . contract is made by spoken words.

Answer & Solution

10. The company, after solving all its liability, has to distribute the excess among the shareholders and then formally dissolved or cease to exist. Thus, the main objective of winding up of a company is:

Answer & Solution

Read More Section(Legal Aspects of Business)

1.
Second appeal to the Central Information Commission or the State Information Commission can be preferred by the applicant within . . . . . . . . days from the date on which the decision was given or should have been made by the first Appellate Authority.

2.
The extent of the liability under an indemnity depends on

3.
Match the following.

List-I List-II

a. Definition of Negotiable Instrument 1. Section 4

b. Promissory Note 2. Section 5

c. Bill of Exchange 3. Section 6

d. Cheque 4. Section 13

4.
Contractual rights and duties are created by

5.
A company secretary has no right to:

6.
The Competition Act, 2002, seeks to regulate:

7.
According to the provisions of Companies Act, 2013, the amount of minimum application money to apply for shares should be at least . . . . . . . .% of face value of the share.

8.
GST is a . . . . . . . .

9.
. . . . . . . . contract is made by spoken words.

10.
The company, after solving all its liability, has to distribute the excess among the shareholders and then formally dissolved or cease to exist. Thus, the main objective of winding up of a company is: