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

61.
Who is the Chairperson of GST Council?

A. Union Finance Minister

B. Always nominated by the Government

C. Always nominated by Council

D. Always elected by President

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62.
"While inquiring into a complaint, Information commission have the power to"
1. summon and enforce attendance of persons.
2. compel them to give evidence on oath and produce documents or things.
3. require discovery and inspection of documents.
Choose the correct answer

A. Only 1

B. Only 2

C. Only 3

D. All of the above

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63.
A private limited company:

A. Must hold Statutory Meeting within one year of the certificate of incorporation

B. Must hold Statutory Meeting within six months of the certificate of incorporation

C. Must hold Statutory Meeting within 3 months of the certificate of Commencement of Business

D. Neet not hold Statutory Meeting

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64.
The Second Schedule of the RTI Act, 2005 can be amended by

A. Central Govt

B. State

C. Both A and B

D. None

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65.
Match the following.

List-I (Sections) List-II (Explanation)

a. Section 68 1. Liability of finder of goods

b. Section 69 2. Supply of necessaries to incompetent person

c. Section 70 3. Payment made by interested persons

d. Section 71 4. Compensation for non-gratuitous acts

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

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

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

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

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66.
The doctrine of internal management states that

A. The directors of the company should perform the business of the company with the permission of the shareholders

B. The director is free to do internal administration of the company as per his choice

C. External persons should not interfere in the internal affairs of the company

D. Outsiders dealing with the company have the right to assume that the company has fully complied with the provision of article of association

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67.
The guarantor's right to indemnifications a right to be reimbursed.
Statement I The amount which is actually paid for the principal debtor with interest.
Statement II Because, he is entitled to full indemnification from the principal debtor.

A. Statement I is true, but Statement II is false

B. Statement I is false, but Statement II is true

C. Both statements are true

D. Both statements are false

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68.
A contract containing an undertaking to do an impossible act, is

A. void ab initio

B. voidable

C. valid

D. illegal

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69.
In India, the literary work is protected until

A. lifetime of author

B. 25 years after the death of author

C. 40 years after the death of author

D. 60 years after the death of author

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70.
Which of the following area is not regulated by Competition Act, 2002?

A. Anti-competitive agreements

B. Predatory pricing

C. Medical negligence

D. Abuse of dominant position

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1 2 3 4 5 6 7 8 9 10

List-I (Sections)	List-II (Explanation)
a. Section 68	1. Liability of finder of goods
b. Section 69	2. Supply of necessaries to incompetent person
c. Section 70	3. Payment made by interested persons
d. Section 71	4. Compensation for non-gratuitous acts

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

61. Who is the Chairperson of GST Council?

Answer & Solution

62. "While inquiring into a complaint, Information commission have the power to" 1. summon and enforce attendance of persons. 2. compel them to give evidence on oath and produce documents or things. 3. require discovery and inspection of documents. Choose the correct answer

Answer & Solution

63. A private limited company:

Answer & Solution

64. The Second Schedule of the RTI Act, 2005 can be amended by

Answer & Solution

65. Match the following. List-I (Sections) List-II (Explanation) a. Section 68 1. Liability of finder of goods b. Section 69 2. Supply of necessaries to incompetent person c. Section 70 3. Payment made by interested persons d. Section 71 4. Compensation for non-gratuitous acts

Answer & Solution

66. The doctrine of internal management states that

Answer & Solution

67. The guarantor's right to indemnifications a right to be reimbursed. Statement I The amount which is actually paid for the principal debtor with interest. Statement II Because, he is entitled to full indemnification from the principal debtor.

Answer & Solution

68. A contract containing an undertaking to do an impossible act, is

Answer & Solution

69. In India, the literary work is protected until

Answer & Solution

70. Which of the following area is not regulated by Competition Act, 2002?

Answer & Solution

Read More Section(Legal Aspects of Business)

61.
Who is the Chairperson of GST Council?

62.
"While inquiring into a complaint, Information commission have the power to"
1. summon and enforce attendance of persons.
2. compel them to give evidence on oath and produce documents or things.
3. require discovery and inspection of documents.
Choose the correct answer

63.
A private limited company:

64.
The Second Schedule of the RTI Act, 2005 can be amended by

65.
Match the following.

List-I (Sections) List-II (Explanation)

a. Section 68 1. Liability of finder of goods

b. Section 69 2. Supply of necessaries to incompetent person

c. Section 70 3. Payment made by interested persons

d. Section 71 4. Compensation for non-gratuitous acts

66.
The doctrine of internal management states that

67.
The guarantor's right to indemnifications a right to be reimbursed.
Statement I The amount which is actually paid for the principal debtor with interest.
Statement II Because, he is entitled to full indemnification from the principal debtor.

68.
A contract containing an undertaking to do an impossible act, is

69.
In India, the literary work is protected until

70.
Which of the following area is not regulated by Competition Act, 2002?