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

41.
The main objective of GST to . . . . . . . . excessive taxation.

A. exempt

B. exclude

C. eliminate

D. None

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42.
What is consent under the Indian Contract Act, 1872?

A. When acceptance of proposal is made by the party to whom the proposal is made

B. When the acceptance is made by another person other than the person to whom the proposal is made

C. When they agree upon the same thing in the same sense

D. When both the parties agree upon a thing in the way it is understood by them

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43.
Which documents contains the constitution of a company?

A. Memorandum of Association

B. Articles of Association

C. Both A and B

D. None of these

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44.
An applicant making request for information

A. shall be given the reason why the information sought for

B. shall be given the personal details of the applicant

C. shall not be given any reason for requesting the information or any other personal details except those that may be necessary for contacting him

D. None of the above

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45.
According to Section 4 of Negotiable Instrument Act, this is an instrument in writing (note being a bank-note or a currency note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money to or to the order of a certain person, or to the bearer of the instruments. Which instrument is being talked here?

A. Promissory Note

B. Cheque

C. Hundi

D. All of the above

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46.
World Intellectual Property Organization was set up in the year 1970. The headquarters of the company are in:

A. Geneva, Switzerland

B. Rome, Italy

C. New York, USA

D. Madrid, Spain

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47.
An organization running a business has the following attributes: the assets belong to the organization, it can create a floating charge over its assets, change in membership does not alter its existence, and members cannot transfer their interests to others. What type of organization is it?

A. A private limited company

B. A limited liability partnership

C. A general partnership

D. A private limited company

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48.
Compulsory winding-up means winding-up by

A. the Tribunal

B. the members

C. the creditors

D. All of these

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49.
A company is managed by:

A. Shareholders

B. Board of Directors

C. Kana

D. Both A and B

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50.
When there is breach of contract, the party which aggrieved by breach is entitled for

A. compensation against the breacher

B. nothing

C. registration of criminal case against the breacher

D. None of the above

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

41. The main objective of GST to . . . . . . . . excessive taxation.

Answer & Solution

42. What is consent under the Indian Contract Act, 1872?

Answer & Solution

43. Which documents contains the constitution of a company?

Answer & Solution

44. An applicant making request for information

Answer & Solution

Answer & Solution

46. World Intellectual Property Organization was set up in the year 1970. The headquarters of the company are in:

Answer & Solution

47. An organization running a business has the following attributes: the assets belong to the organization, it can create a floating charge over its assets, change in membership does not alter its existence, and members cannot transfer their interests to others. What type of organization is it?

Answer & Solution

48. Compulsory winding-up means winding-up by

Answer & Solution

49. A company is managed by:

Answer & Solution

50. When there is breach of contract, the party which aggrieved by breach is entitled for

Answer & Solution

Read More Section(Legal Aspects of Business)

41.
The main objective of GST to . . . . . . . . excessive taxation.

42.
What is consent under the Indian Contract Act, 1872?

43.
Which documents contains the constitution of a company?

44.
An applicant making request for information

46.
World Intellectual Property Organization was set up in the year 1970. The headquarters of the company are in:

47.
An organization running a business has the following attributes: the assets belong to the organization, it can create a floating charge over its assets, change in membership does not alter its existence, and members cannot transfer their interests to others. What type of organization is it?

48.
Compulsory winding-up means winding-up by

49.
A company is managed by:

50.
When there is breach of contract, the party which aggrieved by breach is entitled for