McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
| 51. |
The contribution which shall be paid by the employer to the Fund shall be |
| A. | 5% |
| B. | 7% |
| C. | 12% |
| D. | 10% |
| Answer» C. 12% | |
| 52. |
An employer who contravenes or makes default in complying with the provisions of section 6 of this act, shall be punishable with imprisonment for a term which may extend to _____ years |
| A. | 1 |
| B. | 2 |
| C. | 3 |
| D. | 5 |
| Answer» C. 3 | |
| 53. |
This Act shall not apply to any establishment registered under the Co-operative Societies Act, 1912 (2 of 1912), employing less than ------- persons and working without the aid of power |
| A. | 100 |
| B. | 70 |
| C. | 50 |
| D. | 20 |
| Answer» C. 50 | |
| 54. |
No court inferior to that of ......................class shall try any offence under this Act |
| A. | Sureme Court |
| B. | Presidency Magistrate or a Magistrate of the first class |
| C. | Musiff Court |
| D. | High Court |
| Answer» B. Presidency Magistrate or a Magistrate of the first class | |
| 55. |
Under this act, “Insurance Fund” means …………… |
| A. | Employees’ Group Accident Insurance |
| B. | Unit Linked Insurance Plan |
| C. | Deposit Linked Insurance Scheme |
| D. | Medical Insurance Fund |
| Answer» C. Deposit Linked Insurance Scheme | |
| 56. |
The Central Government has amended the ceiling for contributions under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (EPF Act) and the Employees' Provident Fund and Miscellaneous Provisions Scheme, 1952 (EPF Scheme) from __________ to __________, with effect from 1 September 2014. |
| A. | Rs. 5000/- to Rs.12000/- |
| B. | Rs. 6500/- to Rs.15000/- |
| C. | Rs. 6500/- to Rs.13000/- |
| D. | Rs. 7500/- to Rs. 15000/- |
| Answer» B. Rs. 6500/- to Rs.15000/- | |
| 57. |
GST was introduced in India with effect from |
| A. | 1.1.2017 |
| B. | 1.4.2017 |
| C. | 1.1.2018 |
| D. | 1.7.2017 |
| Answer» D. 1.7.2017 | |
| 58. |
GST was introduced in Jammu and Kashmir with effect from |
| A. | 1.8.2017 |
| B. | 1.7.2017 |
| C. | 1.1.2018 |
| D. | 8.7.2017 |
| Answer» D. 8.7.2017 | |
| 59. |
Constitution Amendment Act, 2016 for GST was |
| A. | 80th |
| B. | 101st |
| C. | 122nd |
| D. | None of these |
| Answer» B. 101st | |
| 60. |
As a result of constitution amendment for GST a Separate List --- has been inserted in the constitution. |
| A. | Article 246A |
| B. | Article 146B |
| C. | Article 122 C |
| D. | Article 101B |
| Answer» A. Article 246A | |
| 61. |
The incidence of tax on tax is called |
| A. | Tax Cascading |
| B. | Tax Pyramidding |
| C. | Tax evasion |
| D. | Indiret tax |
| Answer» A. Tax Cascading | |
| 62. |
Under GST, ‘value addition’ refers to |
| A. | Expenses ‘plus’ profit |
| B. | Cost plus tax |
| C. | Cost plus tax plus‘profit |
| D. | Tax plus profit |
| Answer» A. Expenses ‘plus’ profit | |
| 63. |
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 |
| Answer» A. Sold from Union territory | |
| 64. |
Integrated Goods and Services Tax is applicable when - |
| A. | Sold in Union territory |
| B. | Sold from one GST dealer to another GST dealer |
| C. | Sold within a state |
| D. | There is interstate supply |
| Answer» D. There is interstate supply | |
| 65. |
SGST is applicable when |
| A. | Goods are sold within a state |
| B. | Goods are sold from one GST dealer to a customer |
| C. | Goods are sold by a GST dealer to another GST dealer |
| D. | Interstate supply |
| Answer» A. Goods are sold within a state | |
| 66. |
The tax which was not merged into GST |
| A. | Counterveiling Duty |
| B. | Excise duty |
| C. | Basic Customs Duty |
| D. | Purchase tax |
| Answer» C. Basic Customs Duty | |
| 67. |
Condition is a stipulation which is |
| A. | Essential to the main purpose of contract |
| B. | Collateral to the main purpose of contract |
| C. | Not essential to the main purpose of contract |
| D. | Collateral to the main purpose of contract |
| Answer» A. Essential to the main purpose of contract | |
| 68. |
The sale of goods Act deals only with goods which are ______________ in nature |
| A. | Immovable |
| B. | Movable |
| C. | Specific |
| D. | All of the above |
| Answer» B. Movable | |
| 69. |
Goods that are identified at the time of contract of sale is called _______________ goods |
| A. | Specific |
| B. | ascertained |
| C. | clear Goods |
| D. | both a & b |
| Answer» D. both a & b | |
| 70. |
_________________ is a Stipulation which is Collateral to purpose of contract |
| A. | Condition |
| B. | Warranty |
| C. | Guaranty |
| D. | Collateral Contract |
| Answer» B. Warranty | |
| 71. |
__________________________ is the concept of “LET THE BUYER BEWARE”. |
| A. | Information Center |
| B. | Unfair Trade Practices |
| C. | Caveat Emptor |
| D. | Buyer Kingdom |
| Answer» C. Caveat Emptor | |
| 72. |
___________________ and _______________ are the two parties involved in Contract of sale |
| A. | Seller & Buyer |
| B. | Agent & Principle |
| C. | Customer & Sales man |
| D. | Customer and supplier |
| Answer» A. Seller & Buyer | |
| 73. |
It is a standard rule that risk follows ____________________ |
| A. | Seller |
| B. | buyer |
| C. | property |
| D. | Possession |
| Answer» C. property | |
| 74. |
The sale of Goods Act enforces in the year |
| A. | 1935 |
| B. | 1930 |
| C. | 1945 |
| D. | 1955 |
| Answer» B. 1930 | |
| 75. |
The subject matter of the contract under Sale of goods Act must be |
| A. | Money |
| B. | Goods |
| C. | Immovable Goods |
| D. | All of the above |
| Answer» B. Goods | |
| 76. |
Sale under Sale of goods Act is a/an ____________________ contract |
| A. | Executory |
| B. | Executable |
| C. | Executed |
| D. | None of the above |
| Answer» C. Executed | |
| 77. |
In sale the transfer of property in goods from the seller to the buyer takes place |
| A. | At the end of contract |
| B. | Immediately |
| C. | In a future Date |
| D. | Both a&b |
| Answer» D. Both a&b | |
| 78. |
In Agreement to sell the transfer of property in goods from the seller to the buyer takes place |
| A. | At the end of contract |
| B. | Immediately |
| C. | In a future Date |
| D. | Both b&c |
| Answer» C. In a future Date | |
| 79. |
Which of the following is not a subject matter in a Sale of goods Act |
| A. | Trade mark |
| B. | Good will |
| C. | Money |
| D. | Water |
| Answer» C. Money | |
| 80. |
As per Sale of goods Act Movable goods does not include |
| A. | Gas |
| B. | Growing crop |
| C. | Electricity |
| D. | Money |
| Answer» D. Money | |
| 81. |
The goods must be ________ goods for transferring the property in the goods |
| A. | Ascertained |
| B. | Unascertained |
| C. | Future |
| D. | All of the above |
| Answer» A. Ascertained | |
| 82. |
The subject matter of the contract must necessarily be _____________ |
| A. | Sale |
| B. | Product |
| C. | Service |
| D. | Goods |
| Answer» A. Sale | |
| 83. |
A consideration in contract of sale must be ______________ only |
| A. | Goods |
| B. | movable only |
| C. | price |
| D. | Purchase |
| Answer» C. price | |
| 84. |
Transfer or agree to transfer the _____________ of the goods is the purpose of sale of goods Act |
| A. | Property |
| B. | Possession |
| C. | Value |
| D. | Usage |
| Answer» B. Possession | |
| 85. |
A sale is a ______________ contract |
| A. | Implied |
| B. | Executed |
| C. | Agreed |
| D. | Executory |
| Answer» B. Executed | |
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