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

21.
When a GST dealer in Haryana sells a product to a GST dealer or customer in Punjab, the tax collected is:

A. SGST

B. CGST

C. Integrated GST

D. UTGST

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22.
Which of the following is a vertical agreements?

A. Bid rigging

B. Market share

C. Price fixation

D. Refusal to deal

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23.
CCI shall not initiate an inquiry into a combination after the expiry of year(s) from the date on which the combination has taken effect.

A. one

B. two

C. three

D. five

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24.
Which of the following is not a necessary feature for free consent?

A. When the consent is not caused by coercion

B. When the consent is not caused by undue influence

C. When the consent is not caused by mistake

D. When the consent is not caused by misunderstanding

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25.
Which Article of the Constitution as amended by 101^st Constitutional Amendment Act, 2016 defines the Goods and Service tax (GST) as a tax on supply of goods or services or both?

A. Article 366 (12A)

B. Article 366 (1A)

C. Article 366 (14A)

D. Article 366 (18A)

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26.
Who appoints the members and chairman of the Central Information Commission?

A. President alone can appoint

B. Chief Justice of Supreme of India

C. Committee under the leadership of Prime Minister

D. Home Minister of the country

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27.
The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to:

A. the transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder there of

B. the payment by a bank on a negotiable instrument after due verification of the instrument

C. the bargaining between the parties to a negotiable instrument

D. all of the above

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28.
To which authority, the Limited Liability Partnership agreement is submitted In India?

A. To Central Government

B. To its partners

C. To Registrar

D. To State Government

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29.
Which one of the following statements is not correct?

A. Forfeited shares can be reissued

B. A notice of 14 days to shareholders is necessary before forfeiture of shares

C. Premium on issue of shares can be used for writing off the preliminary expenses

D. The profit on re-issue of forfeited shares is transferred to General Reserve Account

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30.
In case of legal non-compliance and penalties under the LLP Act, are responsible.

A. Partners

B. Designated Partners

C. LLP

D. All the above

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

21. When a GST dealer in Haryana sells a product to a GST dealer or customer in Punjab, the tax collected is:

Answer & Solution

22. Which of the following is a vertical agreements?

Answer & Solution

23. CCI shall not initiate an inquiry into a combination after the expiry of year(s) from the date on which the combination has taken effect.

Answer & Solution

24. Which of the following is not a necessary feature for free consent?

Answer & Solution

25. Which Article of the Constitution as amended by 101st Constitutional Amendment Act, 2016 defines the Goods and Service tax (GST) as a tax on supply of goods or services or both?

Answer & Solution

26. Who appoints the members and chairman of the Central Information Commission?

Answer & Solution

27. The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to:

Answer & Solution

28. To which authority, the Limited Liability Partnership agreement is submitted In India?

Answer & Solution

29. Which one of the following statements is not correct?

Answer & Solution

30. In case of legal non-compliance and penalties under the LLP Act, are responsible.

Answer & Solution

Read More Section(Legal Aspects of Business)

21.
When a GST dealer in Haryana sells a product to a GST dealer or customer in Punjab, the tax collected is:

22.
Which of the following is a vertical agreements?

23.
CCI shall not initiate an inquiry into a combination after the expiry of year(s) from the date on which the combination has taken effect.

24.
Which of the following is not a necessary feature for free consent?

25.
Which Article of the Constitution as amended by 101^st Constitutional Amendment Act, 2016 defines the Goods and Service tax (GST) as a tax on supply of goods or services or both?

26.
Who appoints the members and chairman of the Central Information Commission?

27.
The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to:

28.
To which authority, the Limited Liability Partnership agreement is submitted In India?

29.
Which one of the following statements is not correct?

30.
In case of legal non-compliance and penalties under the LLP Act, are responsible.