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

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41.
With the special permission of the Registrar. Joint Stock Companies the "financial year" of a company may, at the most be extended to:

A. 13 months

B. 15 months

C. 18 months

D. 20 months

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42.
Introduction of GST affects the revenue of:

A. Consuming states

B. Manufacturing states

C. All the states

D. Central Government

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43.
Which of the following refers to a situation in which the merger of companies results in over 25% of the market in the hands of the merged companies?

A. 'Gateway' condition

B. Restrictive practice

C. Share of supply' test

D. 'Asset' test

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44.
On the basis of which of the following types 'express contracts' and 'implied contracts' fall into?

A. Based on execution

B. Based on creation

C. Based on enforceability

D. Based on executory contracts

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45.
Which of the following are characteristics of a company?

A. It has unlimited liability

B. It exists only in contemplation of law

C. It has not a perpetual succession

D. It comes to an end on the death of all its members

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46.
Which of the following statement is false?

A. No legal formality is required to form a company

B. The shareholders of a company have limited liability

C. A company can own property in its own name

D. A company is managed by the elected representatives of shareholders

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47.
The written agreement between the partners is called

A. Memorandum of Association

B. Articles of Association

C. Partnership Deed

D. Certificate of Registration

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48.
UTGST is applicable when:

A. sold from union territory

B. goods are purchased by central government

C. sold from one union territory to another union territory

D. there is interstate supply

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49.
Which one of the following is called Charter of a Company?

A. Memorandum of Association

B. Prospectus

C. Articles of Association

D. All the above

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50.
Termination of an agency with public authority or a public body may attract judicial intervention in writ petition

A. if the termination be unreasonable

B. if the termination be arbitrary

C. if the termination be unconscionable

D. All of the above

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

41. With the special permission of the Registrar. Joint Stock Companies the "financial year" of a company may, at the most be extended to:

Answer & Solution

42. Introduction of GST affects the revenue of:

Answer & Solution

43. Which of the following refers to a situation in which the merger of companies results in over 25% of the market in the hands of the merged companies?

Answer & Solution

44. On the basis of which of the following types 'express contracts' and 'implied contracts' fall into?

Answer & Solution

45. Which of the following are characteristics of a company?

Answer & Solution

46. Which of the following statement is false?

Answer & Solution

47. The written agreement between the partners is called

Answer & Solution

48. UTGST is applicable when:

Answer & Solution

49. Which one of the following is called Charter of a Company?

Answer & Solution

50. Termination of an agency with public authority or a public body may attract judicial intervention in writ petition

Answer & Solution

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41.
With the special permission of the Registrar. Joint Stock Companies the "financial year" of a company may, at the most be extended to:

42.
Introduction of GST affects the revenue of:

43.
Which of the following refers to a situation in which the merger of companies results in over 25% of the market in the hands of the merged companies?

44.
On the basis of which of the following types 'express contracts' and 'implied contracts' fall into?

45.
Which of the following are characteristics of a company?

46.
Which of the following statement is false?

47.
The written agreement between the partners is called

48.
UTGST is applicable when:

49.
Which one of the following is called Charter of a Company?

50.
Termination of an agency with public authority or a public body may attract judicial intervention in writ petition