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

81.
Tax Deducted at Source at the rate of 1% is applicable in the case of supplies received by:

A. Any GST dealer

B. Government Departments

C. Ecommerce operators

D. Composite dealers

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82.
If you write an original story, what type of intellectual property gives you the right to decide who can make and sell copies of your work?

A. Geographical indications

B. Patents

C. Registered designs

D. Copyright

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83.
The first committee to outline a GST model was sustained by

A. Dr. Manmohan Singh

B. Vijay Kelkar

C. Asim Das Gupta

D. None of these

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84.
A contract in which, under the terms of a contract, nothing remains to be done by either party is known as:

A. executed contract

B. executory contract

C. unilateral contract

D. none of the above

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85.
A company may be wound up by the Tribunal by passing

A. special resolution

B. extra-ordinary resolution

C. ordinary resolution

D. no resolution

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86.
If the holder of a bill of exchange allows the drawee more than following hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.

A. 24

B. 12

C. 36

D. 48

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87.
Which section of the Competition Act, 2002 details combinations?

A. Section 2

B. Section 3

C. Section 4

D. Section 5

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88.
Which of the following sections of Indian Contracts Act, 1872 requires 'enforceability by law'?

A. Section 2(i)

B. Section 2(k)

C. Section 2(h)

D. Section 2(m)

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89.
Consider the following statements.
Assertion (A): Under GST, the ability to tax goods and services and raise revenue shifted from origin states (where the good or service is produced) to destination states (where it is consumed).
Reason (R): The new system posed a risk of revenue uncertainty for some states. Parliament went for constitutional amendment bills to make a law to provide for compensation to states for five years to avoid any revenue loss due to GST.

A. Both (A) and (R) are true and R is the correct explanation of (A)

B. Both (A) and (R) are true but (R) is not the right explanation of (A)

C. (A) is true but (R) is not true

D. (A) is false, but (R) is true

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90.
Shares of public company are allotted by

A. Shareholders

B. Board of directors

C. Managing director

D. Government

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

81. Tax Deducted at Source at the rate of 1% is applicable in the case of supplies received by:

Answer & Solution

82. If you write an original story, what type of intellectual property gives you the right to decide who can make and sell copies of your work?

Answer & Solution

83. The first committee to outline a GST model was sustained by

Answer & Solution

84. A contract in which, under the terms of a contract, nothing remains to be done by either party is known as:

Answer & Solution

85. A company may be wound up by the Tribunal by passing

Answer & Solution

86. If the holder of a bill of exchange allows the drawee more than following hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.

Answer & Solution

87. Which section of the Competition Act, 2002 details combinations?

Answer & Solution

88. Which of the following sections of Indian Contracts Act, 1872 requires 'enforceability by law'?

Answer & Solution

Answer & Solution

90. Shares of public company are allotted by

Answer & Solution

Read More Section(Legal Aspects of Business)

81.
Tax Deducted at Source at the rate of 1% is applicable in the case of supplies received by:

82.
If you write an original story, what type of intellectual property gives you the right to decide who can make and sell copies of your work?

83.
The first committee to outline a GST model was sustained by

84.
A contract in which, under the terms of a contract, nothing remains to be done by either party is known as:

85.
A company may be wound up by the Tribunal by passing

86.
If the holder of a bill of exchange allows the drawee more than following hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.

87.
Which section of the Competition Act, 2002 details combinations?

88.
Which of the following sections of Indian Contracts Act, 1872 requires 'enforceability by law'?

90.
Shares of public company are allotted by