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

11.
Which of the following company/companies are registered by the Companies Act, 2013?

A. Government Company

B. Private Company

C. Public Company

D. All of the above

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12.
Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note?
1. Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act
2. Containing an unconditional undertaking
3. To pay a certain sum of money only to a specific person or the bearer
4. The seller is bound to accept the promissory note
5. A document was written and signed by the payer/maker

A. 2, 3 and 5

B. 2, 3 and 4

C. 1, 2, 3 and 4

D. All of the above

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13.
In India, which of the following are non-GST goods?
1. Petroleum crude
2. High-speed diesel
3. Motor spirit (commonly known as petrol)
4. Natural gas
5. Aviation turbine fuel
6. Alcoholic liquor for human consumption

A. 1, 2, 4 and 5

B. 2, 3 and 4

C. 1, 3, 4 and 5

D. All of the above

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14.
If any part of a single consideration for one or more objects, or any one or any part of any one of several consideration of a single object is unlawful, then:

A. only that object shall be held void but the agreement shall be valid

B. the agreement shall be void

C. the agreement shall be voidable at the option of either party to the agreement

D. the agreement is still considered valid

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15.
Which of the following acts was replaced with the introduction of the Competition Act 2002?

A. FERA

B. MRTP

C. POTA

D. None of these

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16.
The persons who sign the Memorandum of Association of a company are called:

A. Shareholders

B. Directors

C. Subscribers to Memorandum of Association

D. Promoters

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17.
Digital signature is created and verified using

A. HTML

B. programme

C. cryptography

D. graphical coding

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18.
Which of the following is not regulated by the Competition Act, 2002?

A. Anti-competitive agreements

B. Medical negligence

C. Abuse of dominant position

D. Predatory pricing

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19.
Which form is to be used for registration of GST?

A. Form GSTR-1A

B. Form GSTR-2

C. Form GST REG

D. Form GSTREG-01

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20.
In which of the following cases, right of lien can be exercised?

A. Where goods have not been sold on credit

B. Goods have been sold on credit and period of credit has expired

C. Both A and B

D. Neither A nor B

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

11. Which of the following company/companies are registered by the Companies Act, 2013?

Answer & Solution

Answer & Solution

13. In India, which of the following are non-GST goods? 1. Petroleum crude 2. High-speed diesel 3. Motor spirit (commonly known as petrol) 4. Natural gas 5. Aviation turbine fuel 6. Alcoholic liquor for human consumption

Answer & Solution

14. If any part of a single consideration for one or more objects, or any one or any part of any one of several consideration of a single object is unlawful, then:

Answer & Solution

15. Which of the following acts was replaced with the introduction of the Competition Act 2002?

Answer & Solution

16. The persons who sign the Memorandum of Association of a company are called:

Answer & Solution

17. Digital signature is created and verified using

Answer & Solution

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

Answer & Solution

19. Which form is to be used for registration of GST?

Answer & Solution

20. In which of the following cases, right of lien can be exercised?

Answer & Solution

Read More Section(Legal Aspects of Business)

11.
Which of the following company/companies are registered by the Companies Act, 2013?

13.
In India, which of the following are non-GST goods?
1. Petroleum crude
2. High-speed diesel
3. Motor spirit (commonly known as petrol)
4. Natural gas
5. Aviation turbine fuel
6. Alcoholic liquor for human consumption

14.
If any part of a single consideration for one or more objects, or any one or any part of any one of several consideration of a single object is unlawful, then:

15.
Which of the following acts was replaced with the introduction of the Competition Act 2002?

16.
The persons who sign the Memorandum of Association of a company are called:

17.
Digital signature is created and verified using

18.
Which of the following is not regulated by the Competition Act, 2002?

19.
Which form is to be used for registration of GST?

20.
In which of the following cases, right of lien can be exercised?