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-1 section-6

As per IT Act, 2000, those who fails to furnish documents will be penalised upto

A) Rs. 5,000 B) Rs. 25,000 C) Rs. 50,000 D) Rs. 1,50,000

Discuss

Answer & Solution

Answer: Option C

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

As per the Act, the contracts made after incorporation of the company but before it is entitled to commence business are termed as:

A) Pre-incorporation contracts B) Provisional contracts C) Preliminary contracts D) None of the above

Discuss

Answer & Solution

Answer: Option B

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

In the event of company being wound up, the Tribunal shall prepare list of contributories into

A) List A B) List B C) Either A or B D) Both A and B

Discuss

Answer & Solution

Answer: Option D

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

Which statement(s) does/do not apply on bill of exchange?

A) It should be in writing B) It should be accepted C) It should be stamped D) It should be registered

Discuss

Answer & Solution

Answer: Option D

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

Which one of the following relates to warranty?

A) It is of vital importance for completion of contract B) If there is breach, the aggrieved party can repudiate the contract C) It is essential to the main purpose of the contract D) In case of breach, the aggrieved party can claim only damages

Discuss

Answer & Solution

Answer: Option D

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

Which of the following items should be part of patent ability criteria?

A) Novelty B) Inventive step C) Capable of Industrial application D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Which of the following statements are true in the context of contract of guarantee?

A) The person who gives the guarantee is called the 'surety' B) The person in respect of whose default the guarantee is given is called the 'principal debtor' C) The person to whom the guarantee is given is called the 'creditor' D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Which of the following act governs the formation and regulation of Limited Liability Partnership in India?

A) Partnership Act, 1932 B) Companies Act, 2013 C) Limited Liability Partnership Act, 2008 D) Limited Liability Partnership Act, 2010

Discuss

Answer & Solution

Answer: Option C

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

Consider the following statements regarding Competition Commission of India?
1. It was established in 2003.
2. Commission has been functioning as a single member body right from its inception.
Which among the above statements is/are correct?

A) 1 only B) 2 only C) Both 1 and 2 D) Neither 1 nor 2

Discuss

Answer & Solution

Answer: Option A

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

The statement which mentions in detail the matters to be considered in a meeting is called

A) Minutes of the meeting B) Agenda of the meeting C) Notice of the meeting D) Resolution

Discuss

Answer & Solution

Answer: Option B

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