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.
A company can be wound up:

A. Voluntarily

B. By the order of the court

C. Under the supervision of the court

D. By all the above methods

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52.
If a Minor draw, indorse, deliver and negotiate Negotiable Instruments, it binds:

A. all the parties except minor

B. all the parties including minor

C. minor and only drawer

D. minor and the drawee

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53.
Which of the following options is the Quorum of GST council, in terms of its number of members?

A. One third

B. Three fourth

C. Two third

D. One half

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54.
Which one of the following statements is not correct:

A. A company secretary is a mere serveant of the company, and has no authority to represent the company

B. Company secretary is the agents of the company and can blind the company with his acts

C. The company secretary has the right to claim his salary as preferential creditor in case of winding up of the company

D. The company secretary has the right to sign all papers on behalf of the company

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55.
Which of the following is an essential of contract of sale?

A. Two parties

B. Sale of goods only

C. Transfer of ownership

D. All of these

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56.
Appointment Committee of Central Chief Information Commissioner (CIC) includes

A. Prime Minister

B. leader of the opposition in the Lok Sabha

C. one Union Cabinet Minister to be nominated by the Prime Minister

D. All of the above

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57.
A, contracts to buy from B 1000 bags of cement. B sends 1000 bags through truck. When cement arrives it becomes stone by the contact of rainwater. Can A reject the goods?

A. Yes, breach of condition as to wholesomeness

B. Yes, conditions as to merchantability

C. No, B never knew himself

D. No, A should have seen it

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58.
Casual vacancy of a director is filled by the following:

A. Board of directors

B. Central Government

C. Shareholders in general meeting

D. Registrar of companies

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59.
A company shall not proceed to allot shares until the beginning of which day from the date of the issue of the prospectus:

A. Third day

B. Fifth day

C. Seventh day

D. Tenth day

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60.
The discharge of contract means the

A. enforcement of obligations of parties

B. coming to end of obligations of parties

C. starting of obligation

D. payment of carriages and penalty

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

51. A company can be wound up:

Answer & Solution

52. If a Minor draw, indorse, deliver and negotiate Negotiable Instruments, it binds:

Answer & Solution

53. Which of the following options is the Quorum of GST council, in terms of its number of members?

Answer & Solution

54. Which one of the following statements is not correct:

Answer & Solution

55. Which of the following is an essential of contract of sale?

Answer & Solution

56. Appointment Committee of Central Chief Information Commissioner (CIC) includes

Answer & Solution

57. A, contracts to buy from B 1000 bags of cement. B sends 1000 bags through truck. When cement arrives it becomes stone by the contact of rainwater. Can A reject the goods?

Answer & Solution

58. Casual vacancy of a director is filled by the following:

Answer & Solution

59. A company shall not proceed to allot shares until the beginning of which day from the date of the issue of the prospectus:

Answer & Solution

60. The discharge of contract means the

Answer & Solution

Read More Section(Legal Aspects of Business)

51.
A company can be wound up:

52.
If a Minor draw, indorse, deliver and negotiate Negotiable Instruments, it binds:

53.
Which of the following options is the Quorum of GST council, in terms of its number of members?

54.
Which one of the following statements is not correct:

55.
Which of the following is an essential of contract of sale?

56.
Appointment Committee of Central Chief Information Commissioner (CIC) includes

57.
A, contracts to buy from B 1000 bags of cement. B sends 1000 bags through truck. When cement arrives it becomes stone by the contact of rainwater. Can A reject the goods?

58.
Casual vacancy of a director is filled by the following:

59.
A company shall not proceed to allot shares until the beginning of which day from the date of the issue of the prospectus:

60.
The discharge of contract means the