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

71.
Document which is defining the role and obligations of partner in LLP?

A. Partnership deed

B. LLP agreement

C. MoA

D. AoA

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72.
What element does copyright law protects?

A. Tangible property

B. Intangible property

C. The name of a particular goods or service

D. Ideas contained in varied forms of expression

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73.
Which of the following is signified by the statement-One who undertakes to form a company with reference to a given object and set it going and who takes the necessary steps to accomplish that purpose?

A. Promoter

B. Directors

C. Chief Executive Officer

D. Board of Directors

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74.
Dividend becomes payable, when it is

A. Recommended by the directors

B. Solicited by the shareholders

C. Recommended by the directors and approved by the shareholders

D. Solicited by the creditors

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75.
Which of the following is not a promissory note?

A. Bank note

B. Currency note

C. Both A and B

D. Neither A nor B

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76.
Copy of the financial statement is to be filed with registrar within how many days of date of Annual General Meeting?

A. 30 days

B. 60 days

C. 90 days

D. 120 day

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77.
Which of the following statements is construed to be false?

A. A person eligible to be appointed as a liquidator shall be considered independent if he is eligible to be appointed as an independent director under Section 149 of Companies Act, 2013 if the corporate person is a company

B. A person eligible to be appointed as a liquidator shall be considered independent if he is not a related party of the corporate person

C. A person eligible to be appointed as a liquidator shall be considered independent if he has been an employee or proprietor or partner of a firm of auditors

D. A person eligible to be appointed as a liquidator shall be considered independent if he has not been an employee or proprietor or partner of legal firm contributing 10% or more of the gross turnover of such firm.

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78.
The area of intellectual property includes
1. copyrights and related rights.
2. trademarks including service marks.
3. industrial designs
4. the lay-out designs of integrated circuits.
Select the correct answer

A. Only 1

B. Both 1 and 2

C. 1, 2 and 3

D. All of the above

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79.
When two or more persons have made a joint promise, then, unless a contrary intention appears from the contract; all such persons must fulfil the promise:

A. jointly

B. severally

C. jointly or severally

D. jointly and severally

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80.
GSTIN is GST identification number or GST number. A GSTIN is a PAN-based unique identification number allotted to every registered person under GST. What are the total number of digits in GSTIN?

A. 10

B. 12

C. 15

D. 18

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

71. Document which is defining the role and obligations of partner in LLP?

Answer & Solution

72. What element does copyright law protects?

Answer & Solution

73. Which of the following is signified by the statement-One who undertakes to form a company with reference to a given object and set it going and who takes the necessary steps to accomplish that purpose?

Answer & Solution

74. Dividend becomes payable, when it is

Answer & Solution

75. Which of the following is not a promissory note?

Answer & Solution

76. Copy of the financial statement is to be filed with registrar within how many days of date of Annual General Meeting?

Answer & Solution

77. Which of the following statements is construed to be false?

Answer & Solution

78. The area of intellectual property includes 1. copyrights and related rights. 2. trademarks including service marks. 3. industrial designs 4. the lay-out designs of integrated circuits. Select the correct answer

Answer & Solution

79. When two or more persons have made a joint promise, then, unless a contrary intention appears from the contract; all such persons must fulfil the promise:

Answer & Solution

80. GSTIN is GST identification number or GST number. A GSTIN is a PAN-based unique identification number allotted to every registered person under GST. What are the total number of digits in GSTIN?

Answer & Solution

Read More Section(Legal Aspects of Business)

71.
Document which is defining the role and obligations of partner in LLP?

72.
What element does copyright law protects?

73.
Which of the following is signified by the statement-One who undertakes to form a company with reference to a given object and set it going and who takes the necessary steps to accomplish that purpose?

74.
Dividend becomes payable, when it is

75.
Which of the following is not a promissory note?

76.
Copy of the financial statement is to be filed with registrar within how many days of date of Annual General Meeting?

77.
Which of the following statements is construed to be false?

78.
The area of intellectual property includes
1. copyrights and related rights.
2. trademarks including service marks.
3. industrial designs
4. the lay-out designs of integrated circuits.
Select the correct answer

79.
When two or more persons have made a joint promise, then, unless a contrary intention appears from the contract; all such persons must fulfil the promise:

80.
GSTIN is GST identification number or GST number. A GSTIN is a PAN-based unique identification number allotted to every registered person under GST. What are the total number of digits in GSTIN?