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

51.
Which of the following does not fall in the ambit of the objectives of Competition Act, 2002?

A. Encourage Competition

B. Prevent abuse of dominant position

C. Prevent monopolistic rights are arising out of intellectual property

D. Regulate mergers and acquisitions

Answer & Solution Discuss in Board Save for Later

52.
IGST is payable when the supply is:

A. Inter-state

B. Intra-state

C. Intra-UT

D. All of the above

Answer & Solution Discuss in Board Save for Later

53.
Certificate of commencement of business is not required by:

A. A public company

B. A private company

C. Both public and private company

D. Private company subsidiary to a public company

Answer & Solution Discuss in Board Save for Later

54.
The first committee to design GST model was headed by:

A. Vijay Kelkar

B. Asim Das Gupta

C. Dr. Chidambaram

D. None of the above

Answer & Solution Discuss in Board Save for Later

55.
Which one of the following is a void contract?

A. Unilateral contract

B. A contract which ceases to be enforceable by law

C. Implied contract

D. Express contract

Answer & Solution Discuss in Board Save for Later

56.
A company secretary has following liability:

A. Contractual only

B. Statutory only

C. Civil only

D. Both contractual and statutory

Answer & Solution Discuss in Board Save for Later

57.
Match List-I with List-II and select the correct answer:

List-I (Term) List-II (Explanation)

a. Contract 1. Accepted proposal

b. Offer 2. Agreement enforceable by law

c. Promise 3. Proposal

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

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

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

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

Answer & Solution Discuss in Board Save for Later

58.
In which of the following cases is a contract not voidable at the option of the party whose consent was so caused?

A. When the consent was caused by coercion

B. When the consent was caused by misrepresentation

C. When the consent was caused by silence but the party had the means of discovering the truth

D. When the consent was caused by fraud

Answer & Solution Discuss in Board Save for Later

59.
Mr. A advertises in a daily newspaper that he will give a prize of Rs. 90,000 to the first person to swim the English channel and back during the month of August. F, who has read the advertisement, sets off from Dower on 1^st August and reaches the coast of Fracne on 2^nd August. On that day, a further advertisement appears in the same newspaper stating that the offer of the prize has been withdrawn. On 3^rd August, F completes the return swim to England can F recover the prize.

A. Yes, as the second advertisement is ineffective so for as F is concerned

B. No, as the offer was revocated

C. F can only claim for damages

D. None of the above

Answer & Solution Discuss in Board Save for Later

60.
Arrange the following in order of their manifestations:
1. Offer
2. Acceptance
3. Breach of contract
4. Contract
Choose the correct option from the following:

A. 1, 2, 3 and 4

B. 1, 2, 4 and 3

C. 2, 3, 1 and 4

D. 1, 4, 3 and 2

Answer & Solution Discuss in Board Save for Later

1 2 3 4 5 6 7 8 9 10

List-I (Term)	List-II (Explanation)
a. Contract	1. Accepted proposal
b. Offer	2. Agreement enforceable by law
c. Promise	3. Proposal

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

51. Which of the following does not fall in the ambit of the objectives of Competition Act, 2002?

Answer & Solution

52. IGST is payable when the supply is:

Answer & Solution

53. Certificate of commencement of business is not required by:

Answer & Solution

54. The first committee to design GST model was headed by:

Answer & Solution

55. Which one of the following is a void contract?

Answer & Solution

56. A company secretary has following liability:

Answer & Solution

57. Match List-I with List-II and select the correct answer: List-I (Term) List-II (Explanation) a. Contract 1. Accepted proposal b. Offer 2. Agreement enforceable by law c. Promise 3. Proposal

Answer & Solution

58. In which of the following cases is a contract not voidable at the option of the party whose consent was so caused?

Answer & Solution

Answer & Solution

60. Arrange the following in order of their manifestations: 1. Offer 2. Acceptance 3. Breach of contract 4. Contract Choose the correct option from the following:

Answer & Solution

Read More Section(Legal Aspects of Business)

51.
Which of the following does not fall in the ambit of the objectives of Competition Act, 2002?

52.
IGST is payable when the supply is:

53.
Certificate of commencement of business is not required by:

54.
The first committee to design GST model was headed by:

55.
Which one of the following is a void contract?

56.
A company secretary has following liability:

57.
Match List-I with List-II and select the correct answer:

List-I (Term) List-II (Explanation)

a. Contract 1. Accepted proposal

b. Offer 2. Agreement enforceable by law

c. Promise 3. Proposal

58.
In which of the following cases is a contract not voidable at the option of the party whose consent was so caused?

60.
Arrange the following in order of their manifestations:
1. Offer
2. Acceptance
3. Breach of contract
4. Contract
Choose the correct option from the following: