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

A. The certificate of fitness is granted by a certifying surgeon on the application of any young person or a parent or a guardian

B. An adolescent who has not been granted a certificate of fitness shall be deemed to be a child for the purpose of the act

C. The certificate of fitness granted or renewed remains valid for a period of six months from the date of issue

D. Any fee payable for the certificate of fitness shall be paid by occupier and not by the young person or his parent or guardian

A. external reconstruction

B. liquidation

C. absorption

D. amalgamation

A. six months

B. one year

C. two weeks

D. one month

A. special guarantee

B. continuing guarantee

C. specific guarantee

D. None of the above

A. A resolution of Board of Directors

B. An ordinary resolution in Annual General Meeting of the Shareholders

C. A special Resolution

D. Obtaining permission of the Company Law Board

A. Valid contracts - contains all essential elements

B. Void contracts - not legally enforceable since its beginning

C. Voidable contracts - valid agreement

D. All of the above contracts offer correct explanation

A. Every company must appoint an individual or firm as auditor

B. The independent directors must attend at least three meetings a year

C. One or more women directors are recommended for certain classes of companies

D. The maximum number of permissible directors can-not exceed 15 in a public limited company

A. Indian Penal Code

B. E-governance Act, 2000

C. IT Act, 2000

D. IT Act, 2002

A. Managing agent

B. Administrative officer

C. Formal servant of the Board of Directors

D. Manager

A. Partnership-at-will

B. Limited partnership

C. General partnership

D. Particular partnership