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.
Right of resale can be exercised by unpaid seller when right to resale is expressly reserved by

A. agreement

B. seller

C. buyer

D. None of these

Answer & Solution Discuss in Board Save for Later

42.
Secretary cannot reveal trade secrets which he comes to know during his course of employment is:

A. Statutory liabilities

B. Contractual liabilities

C. Legal liabilities

D. Liabilities under agency contract

E. Liabilities under trade secret amendment act

Answer & Solution Discuss in Board Save for Later

43.
Which of the following statements are true in context of a cheque?
1. Cheque is a special kind of Bill of Exchange.
2. Cheque is always payable on demand.
3. Validity of Cheque is 6 months.
4. Cheque doesn't require any stamping.

A. 1, 2 and 3

B. 1, 2 and 4

C. 1, 2, 3 and 4

D. 2, 3 and 4

Answer & Solution Discuss in Board Save for Later

44.
According to Sale of Goods Act, 1930, 'seller' means a person:

A. who only agrees to sell the goods

B. who only sells the goods

C. who sells or agrees to sell

D. who transfers the possession of the goods to the other party

Answer & Solution Discuss in Board Save for Later

45.
Which of the following is not the specific powers of the director?

A. To make calls on shares

B. To borrow money

C. To issue debentures

D. To sell part of the undertaking

Answer & Solution Discuss in Board Save for Later

46.
Assistant Public Information Officer (APIO) has to forward first appeals to

A. Public Information Officer (PIO)

B. The head of the authority

C. First Appellate Authority

D. None of the above

Answer & Solution Discuss in Board Save for Later

47.
Which of the following confers powers to Government of India to collect tax on intra-state supply of goods or services or both?

A. UTGST Act

B. IGST Act

C. CGST Act

D. SGST Act

Answer & Solution Discuss in Board Save for Later

48.
Under GST law, an agriculturist means:

A. individual or Hindu Undivided Family only

B. individual only

C. any entity engaged in agricultural operations

D. anyone who sells agricultural produces

Answer & Solution Discuss in Board Save for Later

49.
How long do patents usually last for?

A. 10 years

B. 20 years

C. 40 years

D. 60 years

Answer & Solution Discuss in Board Save for Later

50.
Consider the following statements regarding Limited Liability Partnership (LLP).
1. It provides an alternative to the traditional partnership with unlimited personal liability on the one hand and the statue based company on the other.
2. Unlike company, it does not allow individual partners to be protected from the joint and several liabilities of partners in a partnership firm.
Identify the correct statement.

A. Only 1

B. Only 2

C. Both 1 and 2

D. None of the above

Answer & Solution Discuss in Board Save for Later

1 2 3 4 5 6 7 8 9 10

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

41. Right of resale can be exercised by unpaid seller when right to resale is expressly reserved by

Answer & Solution

42. Secretary cannot reveal trade secrets which he comes to know during his course of employment is:

Answer & Solution

43. Which of the following statements are true in context of a cheque? 1. Cheque is a special kind of Bill of Exchange. 2. Cheque is always payable on demand. 3. Validity of Cheque is 6 months. 4. Cheque doesn't require any stamping.

Answer & Solution

44. According to Sale of Goods Act, 1930, 'seller' means a person:

Answer & Solution

45. Which of the following is not the specific powers of the director?

Answer & Solution

46. Assistant Public Information Officer (APIO) has to forward first appeals to

Answer & Solution

47. Which of the following confers powers to Government of India to collect tax on intra-state supply of goods or services or both?

Answer & Solution

48. Under GST law, an agriculturist means:

Answer & Solution

49. How long do patents usually last for?

Answer & Solution

Answer & Solution

Read More Section(Legal Aspects of Business)

41.
Right of resale can be exercised by unpaid seller when right to resale is expressly reserved by

42.
Secretary cannot reveal trade secrets which he comes to know during his course of employment is:

43.
Which of the following statements are true in context of a cheque?
1. Cheque is a special kind of Bill of Exchange.
2. Cheque is always payable on demand.
3. Validity of Cheque is 6 months.
4. Cheque doesn't require any stamping.

44.
According to Sale of Goods Act, 1930, 'seller' means a person:

45.
Which of the following is not the specific powers of the director?

46.
Assistant Public Information Officer (APIO) has to forward first appeals to

47.
Which of the following confers powers to Government of India to collect tax on intra-state supply of goods or services or both?

48.
Under GST law, an agriculturist means:

49.
How long do patents usually last for?