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-8

A person at any one time cannot be director of more than:

A) 1 company B) 7 companies C) 10 companies D) 20 companies

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Answer & Solution

Answer: Option D

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Which of the following company is incorporated in a country outside India?

A) Private Company B) Foreign Companies C) Government Company D) None of the above

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Answer & Solution

Answer: Option B

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Goods are deemed to be in . . . . . . . . from the time when they are delivered to a carrier or bailee until delivery is taken by buyer.

A) transit B) way C) possession D) None of the above

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Answer & Solution

Answer: Option A

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The capital which is part of the uncalled capital of the company which can be called up only in the event of its winding up it is called:

A) Issued capital B) Nominal capital C) Authorized capital D) Reserve capital

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Answer & Solution

Answer: Option D

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Which of the following cannot be exploited by assigning or by licensing the rights to others?

A) Patents B) Designs C) Trademark D) All of the above

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Answer & Solution

Answer: Option C

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To copyright something, which of the following elements are required?

A) Fixation B) Originality C) Expression D) All of the above

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Answer & Solution

Answer: Option D

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List A of Companies Act can be adopted for-

A) Memorandum of Association B) Article of Association C) Prospectus D) None of the above

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Answer & Solution

Answer: Option B

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Which of the following statements is/are true about GST council?

A) GST Council is the key decision-making body that will take all important decisions regarding the GST B) GST Council dictates tax rate, tax exemption, the due date of forms, tax laws, and tax deadlines, keeping in mind special rates and provisions for some states C) The predominant responsibility of the GST Council is to ensure to have one uniform tax rate for goods and services across the nation D) All of the above

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Answer & Solution

Answer: Option D

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In 'quid-pro-quo', quo stands for:

A) knowledge disclosed to the public B) monopoly granted for the term of the patent C) exclusive privilege of making, selling and using the invention D) none of the above

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Answer & Solution

Answer: Option B

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Directors declare dividend in the

A) Statutory Meeting B) Annual General Meeting C) Extra-ordinary General Meeting D) Board of Directions Meeting

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Answer & Solution

Answer: Option B

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