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.
First appeal shall be disposed of by the first appellate authority within . . . . . . . . days from the date of its receipt.

A. 30

B. 40

C. 50

D. 60

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52.
The Indian Contract Act, 1872 extends to

A. whole of India

B. whole of India excluding Jammu and Kashmir

C. North India

D. South India

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53.
A voluntary winding-up is deemed to commence from the date when the declaration of solvency is made by the

A. manager

B. a court of competent jurisdiction

C. Board of Directors

D. Central Government

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54.
Which of the following as per the Competition Act, 2002, refers to any agreement which restricts or is likely to restrict, by any method the persons or classes of persons to whom goods are sold or from whom goods are bought?

A. Tie-in-arrangement

B. Exclusive supply agreement

C. Exclusive distribution agreement

D. Refusal to deal

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55.
A private company is deemed to be a public company, if:

A. Not less than fifty per cent of its paid-up capital is held by one or more bodies corporate

B. Not less than twenty five percent of its paid-up capital is held by one or more bodies corporate

C. The average annual turnover of the private company during the three consecutive financial years is rupees five crores or more

D. The paid-up capital of the private company exceeds rupees one crore

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56.
In the following warranty, the warrantor limits the scope of a full warranty in some way (for example, a return of the purchase price only).

A. full implied

B. full express

C. limited implied

D. limited

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57.
Which section of IT Act deals with cyber terrorism?

A. Section 66 A

B. Section 66 B

C. Section 66 D

D. Section 66 F

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58.
Who cannot become partner in LLP?

A. Person who has been found of unsound mind

B. Person who is an undischarged insolvent

C. Person who has applied to be adjudicated as an insolvent

D. All of the above

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59.
In which case, a registered dealer has to issue a payment voucher?

A. Reverse Charge

B. Casual Taxable Person

C. Export

D. Composition dealers

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60.
What is the maximum number of members to be appointed by the Central Government in CCI, as per the Competition Act, 2002?

A. 4

B. 5

C. 6

D. 7

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

51. First appeal shall be disposed of by the first appellate authority within . . . . . . . . days from the date of its receipt.

Answer & Solution

52. The Indian Contract Act, 1872 extends to

Answer & Solution

53. A voluntary winding-up is deemed to commence from the date when the declaration of solvency is made by the

Answer & Solution

54. Which of the following as per the Competition Act, 2002, refers to any agreement which restricts or is likely to restrict, by any method the persons or classes of persons to whom goods are sold or from whom goods are bought?

Answer & Solution

55. A private company is deemed to be a public company, if:

Answer & Solution

56. In the following warranty, the warrantor limits the scope of a full warranty in some way (for example, a return of the purchase price only).

Answer & Solution

57. Which section of IT Act deals with cyber terrorism?

Answer & Solution

58. Who cannot become partner in LLP?

Answer & Solution

59. In which case, a registered dealer has to issue a payment voucher?

Answer & Solution

60. What is the maximum number of members to be appointed by the Central Government in CCI, as per the Competition Act, 2002?

Answer & Solution

Read More Section(Legal Aspects of Business)

51.
First appeal shall be disposed of by the first appellate authority within . . . . . . . . days from the date of its receipt.

52.
The Indian Contract Act, 1872 extends to

53.
A voluntary winding-up is deemed to commence from the date when the declaration of solvency is made by the

54.
Which of the following as per the Competition Act, 2002, refers to any agreement which restricts or is likely to restrict, by any method the persons or classes of persons to whom goods are sold or from whom goods are bought?

55.
A private company is deemed to be a public company, if:

56.
In the following warranty, the warrantor limits the scope of a full warranty in some way (for example, a return of the purchase price only).

57.
Which section of IT Act deals with cyber terrorism?

58.
Who cannot become partner in LLP?

59.
In which case, a registered dealer has to issue a payment voucher?

60.
What is the maximum number of members to be appointed by the Central Government in CCI, as per the Competition Act, 2002?