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.
The Annual General Meeting of a Company requires a notice of at least

A. 14 days

B. 21 days

C. 29 days

D. 30 days

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22.
Which of the following section deals with dishonour by non-acceptance?

A. Section 90

B. Section 91

C. Section 92

D. Section 97

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23.
When does the property in the goods pass to the buyer in case of an unconditional contract for the sale of specific goods in a deliverable state:

A. When the contract is made irrespective of whether the time of payment of price or delivery of goods is postponed or not

B. When the party Intends to transfer

C. At the time of the payment of the price of goods

D. At the time of delivery of goods

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24.
In a private company shares are:

A. transferable freely

B. transferable with some restrictions

C. non-transferable

D. all of the above

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25.
Controller of Certifying Authorities (CCA) work under?

A. Prime Minister office

B. Reserve Bank of India

C. Ministry of Communication and IT

D. Autonomous body

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26.
The principle of constructive notice protects:

A. Outsiders against company

B. Company against outsiders

C. Directors against shareholders

D. Employees against management

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27.
Generally, the following damages are not recoverable?

A. Ordinary damages

B. Special damages

C. Remote damages

D. Nominal damages

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28.
The following cannot be exploited by assigning or by licensing the rights to others.

A. Patents

B. Copyrights

C. Trademarks

D. All of these

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29.
Match the following.

List-I (Form) List-II (Explanation)

a. GSTR-1 1. Gross tax liabilities, total description of payment

b. GSTR-2 2. Details of supply/sales

c. GSTR-3 3. Details of purchases

d. GSTR-4 4. Quarterly statement

A. a-4, b-3, c-1, d-2

B. a-2, b-3, c-1, d-4

C. a-2, b-1, c-4, d-3

D. a-3, b-4, c-1, d-2

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30.
According to section 14 of the Act, when a promissory note, bill of exchange or cheque is transferred to any person so as to constitute that person the holder there of, the instrument is said to be:

A. Negotiated

B. Assigned

C. Assigned and negotiated

D. Terminated

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1 2 3 4 5 6 7 8 9 10

List-I (Form)	List-II (Explanation)
a. GSTR-1	1. Gross tax liabilities, total description of payment
b. GSTR-2	2. Details of supply/sales
c. GSTR-3	3. Details of purchases
d. GSTR-4	4. Quarterly statement

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

21. The Annual General Meeting of a Company requires a notice of at least

Answer & Solution

22. Which of the following section deals with dishonour by non-acceptance?

Answer & Solution

23. When does the property in the goods pass to the buyer in case of an unconditional contract for the sale of specific goods in a deliverable state:

Answer & Solution

24. In a private company shares are:

Answer & Solution

25. Controller of Certifying Authorities (CCA) work under?

Answer & Solution

26. The principle of constructive notice protects:

Answer & Solution

27. Generally, the following damages are not recoverable?

Answer & Solution

28. The following cannot be exploited by assigning or by licensing the rights to others.

Answer & Solution

29. Match the following. List-I (Form) List-II (Explanation) a. GSTR-1 1. Gross tax liabilities, total description of payment b. GSTR-2 2. Details of supply/sales c. GSTR-3 3. Details of purchases d. GSTR-4 4. Quarterly statement

Answer & Solution

30. According to section 14 of the Act, when a promissory note, bill of exchange or cheque is transferred to any person so as to constitute that person the holder there of, the instrument is said to be:

Answer & Solution

Read More Section(Legal Aspects of Business)

21.
The Annual General Meeting of a Company requires a notice of at least

22.
Which of the following section deals with dishonour by non-acceptance?

23.
When does the property in the goods pass to the buyer in case of an unconditional contract for the sale of specific goods in a deliverable state:

24.
In a private company shares are:

25.
Controller of Certifying Authorities (CCA) work under?

26.
The principle of constructive notice protects:

27.
Generally, the following damages are not recoverable?

28.
The following cannot be exploited by assigning or by licensing the rights to others.

29.
Match the following.

List-I (Form) List-II (Explanation)

a. GSTR-1 1. Gross tax liabilities, total description of payment

b. GSTR-2 2. Details of supply/sales

c. GSTR-3 3. Details of purchases

d. GSTR-4 4. Quarterly statement

30.
According to section 14 of the Act, when a promissory note, bill of exchange or cheque is transferred to any person so as to constitute that person the holder there of, the instrument is said to be: