McqMate
| 1. |
The term 'sub-agent' in the business of agency is defined as a person employed by, and acting under the control of the |
| A. | Principal |
| B. | Original agent |
| C. | Lawyer |
| D. | Third person |
| Answer» B. Original agent | |
| 2. |
The first endorsement of an instrument can be made by the |
| A. | Banker |
| B. | Payee |
| C. | Holder in due course |
| D. | Agent |
| Answer» B. Payee | |
| 3. |
Which of the following is not the mode of dissolution of a firm under voluntary dissolution? |
| A. | Dissolution by agreement |
| B. | Dissolution on the happenings of certain contingencies |
| C. | Dissolution on becoming a partner of unsound mind |
| D. | Compulsory dissolution |
| Answer» C. Dissolution on becoming a partner of unsound mind | |
| 4. |
White wash or color wash should be carried out at least once in every period of |
| A. | 14 months |
| B. | 24 months |
| C. | 48 months |
| D. | 60 months |
| Answer» A. 14 months | |
| 5. |
The term 'family' as defined in ESI Act, 1948 does not include |
| A. | a spouse |
| B. | a minor adopted child |
| C. | a dependent unmarried daughter |
| D. | an independent married sister |
| Answer» D. an independent married sister | |
| 6. |
Which one of the following amounts to safety measure? |
| A. | Artificial humidification |
| B. | Ventilation |
| C. | Fencing of machinery |
| D. | First aid appliances |
| Answer» C. Fencing of machinery | |
| 7. |
If a company does not have a common seal, the share certificate shall be signed by |
| A. | Two Directors |
| B. | One Director and Company Secretary |
| C. | Two Directors and Company Secretary |
| D. | Company Secretary |
| Answer» A. Two Directors | |
| 8. |
In case of e-voting, notice shall be sent as attachment in |
| A. | PDF file |
| B. | Word file |
| C. | Excel file |
| D. | Access file |
| Answer» A. PDF file | |
| 9. |
A Director may be elected by small shareholders upon a notice by |
| A. | not less than 1000 small shareholders. |
| B. | one tenth of the total number of shareholders. |
| C. | not less than 1000 small shareholders or one tenth of such shareholders, whichever is lower. |
| D. | one tenth of 1000 small shareholders. |
| Answer» C. not less than 1000 small shareholders or one tenth of such shareholders, whichever is lower. | |
| 10. |
Meta ethics deal with the nature of ___________ . |
| A. | external influences |
| B. | moral judgement |
| C. | material facts |
| D. | animal rights |
| Answer» B. moral judgement | |
| 11. |
The breach of contract may be- |
| A. | Actual |
| B. | Anticipatory |
| C. | None of the above |
| D. | Either of (a) and (b) |
| Answer» D. Either of (a) and (b) | |
| 12. |
Which one of the following is not the feature of “agreement to sale”? |
| A. | It is an executor contract |
| B. | Sales takes place for existing and specific goods |
| C. | The seller can sue for damages only in case of breach by the buyer |
| D. | It gives a right to the buyer against the seller to sue for damages |
| Answer» B. Sales takes place for existing and specific goods | |
| 13. |
Which one of the following is not the element of draft? |
| A. | It cannot be drawn on private individual |
| B. | It cannot be countermanded easily |
| C. | It is open to the person to stop payment |
| D. | The bank undertakes the liability which it is bound to discharge in whose favor the |
| Answer» C. It is open to the person to stop payment | |
| 14. |
Who may negotiate? |
| A. | Drawer |
| B. | Payee |
| C. | All of the joint makers |
| D. | Any of (a) to (c) |
| Answer» D. Any of (a) to (c) | |
| 15. |
The Information Memorandum shall be deemed to be a ______________. |
| A. | Prospectus |
| B. | Articles |
| C. | Memorandum |
| D. | None of the above. |
| Answer» A. Prospectus | |
| 16. |
The Regional Director shall communicate the confirmation of shifting of registered office within __________ days of receipt of the application. |
| A. | 15 |
| B. | 30 |
| C. | 45 |
| D. | 90 |
| Answer» B. 30 | |
| 17. |
The private placement shall be made, not more than ___________ persons in aggregate in a financial year. |
| A. | 50 |
| B. | 100 |
| C. | 200 |
| D. | 400 |
| Answer» C. 200 | |
| 18. |
If the shareholders not less than _____ of the issued shares of class did not consent to the variation or vote in favor of the special resolution for the variation, such shareholders may apply to the Tribunal to have the variation cancelled. |
| A. | 10% |
| B. | 15% |
| C. | 25% |
| D. | None of the above |
| Answer» A. 10% | |
| 19. |
The company shall not issue sweat equity shares for more than _______________ of the existing paid up share capital in a year. |
| A. | 10% |
| B. | 15% |
| C. | 25% |
| D. | None of the above |
| Answer» B. 15% | |
| 20. |
Which one of the following is not the discharge by operation of law? |
| A. | By merger |
| B. | By insolvency |
| C. | By breach of contract |
| D. | By the unauthorized alteration of items of a written document. |
| Answer» C. By breach of contract | |
| 21. |
Which one of the following is not the feature of the Contract of Guarantee? |
| A. | There are two parties in this contract. |
| B. | The liability of surety is secondary. |
| C. | There is an existing debt for which the surety gives guarantee to the creditor on behalf of the principal debtor. |
| D. | The surety gives contract at the request of the principal debtor. |
| Answer» C. There is an existing debt for which the surety gives guarantee to the creditor on behalf of the principal debtor. | |
| 22. |
Section 2(7) of the Sale of Goods Act, 1930 the term 'Goods' does not include __________. |
| A. | Stock and share |
| B. | Growing Crops |
| C. | Grass |
| D. | Neither (A) nor (B) nor (C) |
| Answer» D. Neither (A) nor (B) nor (C) | |
| 23. |
No female child shall be allowed to work in any factory except between ________________. |
| A. | 8 AM and 7 PM |
| B. | 6 PM and 6 AM |
| C. | 6 AM and 7 PM |
| D. | 10 PM and 5 AM |
| Answer» A. 8 AM and 7 PM | |
| 24. |
The Bonus shares may be issued out of the _____________________ |
| A. | Free Reserves |
| B. | Securities Premium Account |
| C. | Capital Redemption Reserve Account |
| D. | Any of the above |
| Answer» D. Any of the above | |
| 25. |
An instrument of the proxy shall be deposited with the registered office of the company before ____________ hours of the conduct of the meeting. |
| A. | 7 hours |
| B. | 21 hours |
| C. | 48 hours |
| D. | 60 hours |
| Answer» C. 48 hours | |
| 26. |
Theminimum number of designated partners in an LLP shall ____________________ |
| A. | 1 |
| B. | 2 |
| C. | 7 |
| D. | 15 |
| Answer» B. 2 | |
| 27. |
At every AGM, not less than ________ of the total number of directors shall retire by rotation. |
| A. | One third |
| B. | Two third |
| C. | Three fourths |
| D. | Half |
| Answer» A. One third | |
| 28. |
The minimum number of directors for a public company is _______________ |
| A. | 1 |
| B. | 2 |
| C. | 3 |
| D. | 7 |
| Answer» C. 3 | |
| 29. |
This is not one of the 7 principles of public life. |
| A. | Integrity |
| B. | Honesty |
| C. | Content |
| D. | Accountability |
| Answer» C. Content | |
| 30. |
Which of the following is an invitation for offer? |
| A. | A tender to supply goods at a certain time |
| B. | A request for a loan |
| C. | Bids in an auction sale |
| D. | A catalogue of goods for sale |
| Answer» D. A catalogue of goods for sale | |
| 31. |
Where seller delivers to the buyer a quantity of goods less than the contracted to sell, the buyer |
| A. | may reject them |
| B. | should not reject them as more quantity might be supplied. |
| C. | may resell them |
| D. | give less price for them. |
| Answer» A. may reject them | |
| 32. |
A person who has ultimate control over the affairs of the factory under Factories Act, 1948 is called as: |
| A. | Occupier |
| B. | Manager |
| C. | Chairman |
| D. | Managing Director |
| Answer» A. Occupier | |
| 33. |
A bearer instrument is negotiated by |
| A. | delivery only |
| B. | delivery and endorsement |
| C. | endorsement |
| D. | stamping and attestation |
| Answer» A. delivery only | |
| 34. |
X, Y and Z are partners in a firm. X, without the authority of Y and Z buys certain shares in his name out of partnership money. These shares will constitute |
| A. | Partnership liability |
| B. | Partnership Property |
| C. | Partnership networth |
| D. | Partnership Capital |
| Answer» B. Partnership Property | |
| 35. |
Business ethics calls for avoidance of |
| A. | Competition |
| B. | Publicity |
| C. | Monopoly |
| D. | Self-interest |
| Answer» C. Monopoly | |
| 36. |
Business ethics has a ____ application. |
| A. | Universal |
| B. | Natural |
| C. | Practical |
| D. | Physical |
| Answer» A. Universal | |
| 37. |
A contract is a combination of |
| A. | agreement and free consent |
| B. | agreement and consideration |
| C. | agreement and enforceability |
| D. | agreement and competence of parties |
| Answer» C. agreement and enforceability | |
| 38. |
A proper foundation of ethics requires a standard of _______ to which all goals and actions can be compared to. |
| A. | value |
| B. | living |
| C. | life |
| D. | speech |
| Answer» A. value | |
| 39. |
The provisions regarding maximum number of members in a partnership are given in |
| A. | The Partnership Act |
| B. | The Companies Act |
| C. | The Societies Registration Act |
| D. | The Co-operative Societies Act |
| Answer» B. The Companies Act | |
| 40. |
X and Y agree to divide the profits of a business in equal shares but the loss if any is to be borne by X only. The partnership agreement is |
| A. | void |
| B. | voidable |
| C. | lawful |
| D. | illegal |
| Answer» C. lawful | |
| 41. |
First aid boxes or cupboard equipped with prescribed contents and not less than one in number must be provided and maintained in every factory so as to be accessible during all working hours for every |
| A. | 200 workers for any time |
| B. | 150 workers for any time |
| C. | 500 workers for any time |
| D. | 30 workers for any time |
| Answer» B. 150 workers for any time | |
| 42. |
XYZ Ltd., to which the Payment of Wages Act, 1936 is applicable, fixes the wages period of 36 days. You as a Cost and Management Accountant of the Company, how would youadvice the company. |
| A. | There is no problem in the above act of the Company |
| B. | As per Section 4(2) of the Act, no wage period can exceed one month. So the company would be advised accordingly. |
| C. | The wages period can be more than 30 days subject to approval of appropriate Government |
| D. | The company should take permission of Inspector of the factory. |
| Answer» B. As per Section 4(2) of the Act, no wage period can exceed one month. So the company would be advised accordingly. | |
| 43. |
When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the |
| A. | Preceding day |
| B. | Next preceding business day |
| C. | Same day of next week |
| D. | 3rd day following the day holiday |
| Answer» B. Next preceding business day | |
| 44. |
In case of an employee who has not completed 15 years of age at the beginning of the Accounting year, the minimum bonus will be |
| A. | `100 or 8.33% of salary or wages whichever is higher. |
| B. | ` 60 or 8.33% of salary or wages whichever is higher. |
| C. | ` 60 or 8.33% of salary or wages whichever is lower. |
| D. | 8.33% of salary or wages. |
| Answer» B. ` 60 or 8.33% of salary or wages whichever is higher. | |
| 45. |
Every LLP firm shall have at least _____________ designated partners who are individuals. |
| A. | two |
| B. | three |
| C. | four |
| D. | Five |
| Answer» A. two | |
| 46. |
K owns a residential flat in Chennai. He is entitled to quiet possession and enjoyment of his property. This is called – |
| A. | Rights in Personam |
| B. | Rights in Rem |
| C. | Constitutional Right |
| D. | There is no right at all |
| Answer» B. Rights in Rem | |
| 47. |
X sells the goodwill of his retail store to Y for `5 lacs and promises not to carry on the same business for ever and anywhere in India. This agreement is: |
| A. | Valid |
| B. | Void |
| C. | Voidable |
| D. | Illegal |
| Answer» B. Void | |
| 48. |
In a Contract of Guarantee there is/are: |
| A. | One contract |
| B. | Two contracts |
| C. | Three contracts |
| D. | Four contracts |
| Answer» C. Three contracts | |
| 49. |
Right of Stoppage in transit can be exercised by the Unpaid Seller, where the Buyer: |
| A. | is solvent |
| B. | becomes insolvent |
| C. | acts fraudulently |
| D. | acts smartly |
| Answer» B. becomes insolvent | |
| 50. |
"Nemo dat quad non habet", means: |
| A. | no one is greater than god |
| B. | none can give who does not himself possess |
| C. | everyone can give everything he has |
| D. | everyone is bound by is habit |
| Answer» B. none can give who does not himself possess | |
| 51. |
According to Sec 2(n) “Occupier” of a factory means ___________________ |
| A. | The person who has established the factory |
| B. | The person who has highest profit share in the factory |
| C. | The person who has ultimate control over the affairs of the factory |
| D. | The person who has ultimate control over the employees of the factory |
| Answer» C. The person who has ultimate control over the affairs of the factory | |
| 52. |
A factory employs 250 workers. All the workers including workers above 60 years of age and below 15 years of age went on strike. The employer |
| A. | can deduct fine from all the workers |
| B. | cannot deduct fine from workers who are under the age of 15 |
| C. | no fine can be imposed from workers who are 60 years and above |
| D. | cannot deduct any fine from any worker. |
| Answer» B. cannot deduct fine from workers who are under the age of 15 | |
| 53. |
Permanent disablement benefit is paid at the rate of ______________ of wages. |
| A. | 120% |
| B. | 100% |
| C. | 79% |
| D. | 90% |
| Answer» D. 90% | |
| 54. |
Workers will be entitled to overtime wages if they have worked for more than ____________. |
| A. | Forty-eight hours in any four week |
| B. | Forty-eight hours in any three week |
| C. | Forty-eight hours in any two week |
| D. | Forty-eight hours in any week |
| Answer» D. Forty-eight hours in any week | |
| 55. |
Appropriate Government reviews the rates of minimum wages within: |
| A. | 2 years |
| B. | 4 years |
| C. | 5 years |
| D. | 6 years |
| Answer» C. 5 years | |
| 56. |
Anchal purchased a motor car from Kamal who had no title to it. Anchal used the motor car for several months. True owner spotted the motor car and demanded it from Anchal. In such case |
| A. | Anchal is bound to hand-over the motor car to true owner. |
| B. | Anchal is not bound to return the motor car to true owner as she has paid in full settlement to Kamal. |
| C. | Anchal shall advise true owner to approach Kamal. |
| D. | True owner has no right to claim either from Anchal or from Kamal. |
| Answer» A. Anchal is bound to hand-over the motor car to true owner. | |
| 57. |
Which of the following agreement is wagering agreement under the Indian Contract Act, 1872? |
| A. | Crossword competition involving application of skill and knowledge. |
| B. | Contract of Insurance. |
| C. | A promise to pay B ` 1,000 if it rains on Monday. |
| D. | A agrees to pay B `1,000 if he marries C. |
| Answer» C. A promise to pay B ` 1,000 if it rains on Monday. | |
| 58. |
Under Sale of Goods Act, which of the delivery of goods is called as delivery by attornment? |
| A. | Actual |
| B. | Symbolic |
| C. | Constructive |
| D. | Physical |
| Answer» C. Constructive | |
| 59. |
Where the price of the goods under a contract of sale is to be fixed by the valuation of a third party who fails to fix the valuation, but goods are supplied to the buyer, under section 10 of the Sale of Goods Act, 1930, the buyer is |
| A. | liable to pay the reasonable price of the goods. |
| B. | liable to pay the minimum price of the goods. |
| C. | not liable to pay any price until fixed by the valuer. |
| D. | liable to pay the maximum retail price. |
| Answer» A. liable to pay the reasonable price of the goods. | |
| 60. |
Under Factories Act, 1948, where work of the same kind is carried out by two or more sets of workers during different period of the day, each of such period is called a |
| A. | Relay |
| B. | Shift |
| C. | Recess |
| D. | Overtime |
| Answer» B. Shift | |
| 61. |
Under Payment of Wages Act, 1936, deduction on account of payment to cooperative societies shall not be more than |
| A. | 50% of wages |
| B. | 75% of wages |
| C. | 90% of wages |
| D. | 60% of wages |
| Answer» B. 75% of wages | |
| 62. |
Under Employee‘s State Insurance Act, in order to qualify for sickness benefit, the insured worker is required to contribute for |
| A. | 70 days in a contribution period of 6 months. |
| B. | 78 days in a contribution period of 3 months. |
| C. | 91 days in a contribution period of 3 months. |
| D. | 78 days in a contribution period of 6 months. |
| Answer» D. 78 days in a contribution period of 6 months. | |
| 63. |
Ankit purchased goods worth ` 20,000 from Anuj. In lieu of cash payment, Ankit accepted a bill of exchange of ` 20,000 to be payable after three months. This is an example of |
| A. | Accommodation Bill |
| B. | Fictitious Bill |
| C. | Genuine Bill |
| D. | Documentary Bill |
| Answer» C. Genuine Bill | |
| 64. |
Under the Negotiable Instruments Act, 1881, whether acceptance of a bill of exchange in the following situation shall be treated as qualified acceptance where the acceptor |
| A. | undertakes to pay only `10,000 for a bill drawn for `15,000. |
| B. | declares the payment to be independent of any other event. |
| C. | writes, ‘Accepted, payable at ABC Bank’. |
| D. | writes, ‘Accepted, payable at Delhi’. |
| Answer» A. undertakes to pay only `10,000 for a bill drawn for `15,000. | |
| 65. |
When a partnership firm is continued even after the expiry of fixed term is called |
| A. | Perpetual partnership |
| B. | Fixed partnership |
| C. | Contract partnership |
| D. | Partnership at will |
| Answer» D. Partnership at will | |
| 66. |
A person who is not a partner of a Partnership Firm, but he may liable for firm’s debt as if he was a Partner. Such a person is called |
| A. | Nominal Partner |
| B. | Sleeping Partner |
| C. | Partner by estoppels |
| D. | Partner for profit only |
| Answer» C. Partner by estoppels | |
| 67. |
Under Companies (Registration Offices and Fees) Rules, 2014, every foreign company shall file with the Registrar of Companies along with the financial statement in form — ————— which belong to the list of all the places of business established by the foreign company in India. |
| A. | FC 4 |
| B. | FC 2 |
| C. | FC 1 |
| D. | FC 3 |
| Answer» D. FC 3 | |
| 68. |
Business ethics are needed to create a faith about the quality, quantity, price etc. of products. The customers have more trust and faith in the businessmen who follow ethical rules. They feel that such businessmen would not cheat them. Which one of the following is appropriate for it? |
| A. | Safeguarding consumers right |
| B. | Improve customers confidence |
| C. | Survival of business |
| D. | Consumer movement |
| Answer» B. Improve customers confidence | |
| 69. |
Holders of public office should not place themselves under any financial or other obligation to outside individuals or organizations that might influence them in the performance or their official duties. This principle of public life is called |
| A. | Selflessness |
| B. | Honesty |
| C. | Objectivity |
| D. | Integrity |
| Answer» D. Integrity | |
| 70. |
There are many types of ethical conflicts in the |
| A. | Business place |
| B. | Office place |
| C. | Work place |
| D. | Public place |
| Answer» C. Work place | |
| 71. |
Which one of the following is said to be ―unethical behavior? |
| A. | Encouraging communication |
| B. | Adulteration |
| C. | Employees awareness |
| D. | Objectivity |
| Answer» B. Adulteration | |
| 72. |
A contract creates |
| A. | jus in personam. |
| B. | jus in rem. |
| C. | only rights and no obligations. |
| D. | only obligations and no rights. |
| Answer» A. jus in personam. | |
| 73. |
Provisions of EPF &Misc Provisions Act 1952 are applicable to Cinema/Theatre employing |
| A. | 10 or more persons. |
| B. | 20 or more persons. |
| C. | 5 or more persons. |
| D. | 15 or more persons. |
| Answer» C. 5 or more persons. | |
| 74. |
In the absence of Partnership agreement, the Partner has |
| A. | right to avail interest on advances paid to partnership firm. |
| B. | right to avail interest on advances paid to partnership firm provided there is profit. |
| C. | no right to avail interest on advances. |
| D. | right to avail interest on advances even after dissolution of the firm. |
| Answer» A. right to avail interest on advances paid to partnership firm. | |
| 75. |
A person who is employed by the seller to raise the price by fictitious bids. Such person is known as |
| A. | Puffer |
| B. | By bidder |
| C. | Decoy Ducks |
| D. | All of the above |
| Answer» D. All of the above | |
| 76. |
In case of banker's refusal to honour the cheque inspite of sufficient funds in customer's account, the banker is |
| A. | liable to compensate the drawer. |
| B. | not liable to compensate the drawer . |
| C. | criminally liable under section 138. |
| D. | liable to be delisted. |
| Answer» A. liable to compensate the drawer. | |
| 77. |
Dependants benefit is paid at the rate of |
| A. | 60% of wages in the form of monthly payment. |
| B. | 75% of wages in the form of monthly payment. |
| C. | 80% of wages in the form of monthly payment. |
| D. | 90% of wages in the form of monthly payment. |
| Answer» D. 90% of wages in the form of monthly payment. | |
| 78. |
Board of Directors of every listed Company shall constitute an Audit Committee which shall consists of a minimum of |
| A. | 2 Directors |
| B. | 3 Directors |
| C. | 4 Directors |
| D. | 5 Directors |
| Answer» B. 3 Directors | |
| 79. |
The maximum limit of bonus payable to an employee is fixed by way of percentage of salary or wages earned by the employee during the accounting year, the percentage is: |
| A. | 10% |
| B. | 15% |
| C. | 20% |
| D. | 25% |
| Answer» C. 20% | |
| 80. |
Business Ethics also called as Corporate Ethics is a form of |
| A. | Positive Ethics |
| B. | Applied Ethics |
| C. | Physical Ethics |
| D. | Practical Ethics |
| Answer» B. Applied Ethics | |
| 81. |
An agreement which is enforceable at the option of one or more parties thereto but not at the option of other or others is called |
| A. | Void contract. |
| B. | Voidable contract. |
| C. | Void agreement. |
| D. | Unenforceable contract. |
| Answer» B. Voidable contract. | |
| 82. |
Which of the following agency is irrevocable under The Indian Contract Act, 1872? |
| A. | Agency for fixed period |
| B. | Agency for single transaction |
| C. | Agency coupled with interest |
| D. | Continuing agency |
| Answer» C. Agency coupled with interest | |
| 83. |
A sort of tacit understanding/agreement among the intending bidders to stifle competition by not bidding against each other in an auction sale is called as |
| A. | Damping |
| B. | Knock-out agreement |
| C. | Puffers |
| D. | By-bidders |
| Answer» B. Knock-out agreement | |
| 84. |
When an instrument is drawn conditionally or for a special purpose as a collateral security and not for the purpose of transferring property therein, it is called |
| A. | Ambiguous |
| B. | Inchoate |
| C. | Escrow |
| D. | Inland |
| Answer» C. Escrow | |
| 85. |
Which Committee is constituted by the occupier to promote cooperation between the workers and management in maintaining proper safety and health at workplace? |
| A. | Safety Committee |
| B. | Health Committee |
| C. | Management Workers Consultative Committee |
| D. | Maintenance Committee |
| Answer» A. Safety Committee | |
| 86. |
Under Payment of Bonus Act, 1965, in disputed cases, bonus must be paid |
| A. | Within 8 months from the close of the accounting year. |
| B. | Within 1 month from the date on which the award becomes enforceable. |
| C. | Within 2 months from the date on which the award becomes enforceable. |
| D. | Within 6 months from the date of closing of the accounting year. |
| Answer» B. Within 1 month from the date on which the award becomes enforceable. | |
| 87. |
Businessmen or industrialists take initiative to form new companies. Their main function is to manage the company after its promotion, they are known as |
| A. | Particular Promoters |
| B. | Occasional Promoters |
| C. | Professional Promoters |
| D. | General Promoters |
| Answer» D. General Promoters | |
| 88. |
The study of ethics can be divided into four operational areas namely meta ethics, normative ethics, descriptive ethics and |
| A. | Positive ethics |
| B. | Physical ethics |
| C. | Applied ethics |
| D. | Natural ethics |
| Answer» C. Applied ethics | |
| 89. |
In social agreements usual presumption is |
| A. | that parties do not intend to create social relations. |
| B. | that parties intend to perform them. |
| C. | that parties do not intend to make legal and social relations. |
| D. | that the parties do not intend to create legal relations between them. |
| Answer» D. that the parties do not intend to create legal relations between them. | |
| 90. |
In a sale of goods, the doctrine of caveat emptor will not apply when there is |
| A. | usage of trade |
| B. | consent by fraud |
| C. | buyers’ error of judgment |
| D. | Merchantable Quality |
| Answer» D. Merchantable Quality | |
| 91. |
A bill of exchange, that is drawn accepted or endorsed without consideration is called |
| A. | Accommodation bill |
| B. | Promissory note |
| C. | Trade bill |
| D. | Bearer instrument |
| Answer» A. Accommodation bill | |
| 92. |
Under Industrial Disputes Act, Appropriate Government may require to constitute a workman committee on any day in the preceding 12 months, where an industrial establishment employs |
| A. | 250 or more workers |
| B. | 100 or more workers |
| C. | 500 or more workers |
| D. | 200 or more workers |
| Answer» B. 100 or more workers | |
| 93. |
Employee’s State Insurance Act, 1948 is applicable to all |
| A. | factories including factories belonging to Government and seasonal factories. |
| B. | factories excluding seasonal factories. |
| C. | factories including factories belonging to Government and seasonal but excluding Silk factory. |
| D. | factories including factories belonging to Government but excluding seasonal factories. |
| Answer» D. factories including factories belonging to Government but excluding seasonal factories. | |
| 94. |
A partner must give a public notice of his retirement from the firm in order absolve himself from the liability for the acts of the other partners done after his retirement is known as |
| A. | Dormant partner |
| B. | Ostensible partner |
| C. | Nominal partner |
| D. | Partner by estoppel |
| Answer» B. Ostensible partner | |
| 95. |
A prospectus which does not have complete particulars on the price of securities offered and the quantum of securities offered by the company is known as |
| A. | Statement in lieu of prospectus |
| B. | Red-herring prospectus |
| C. | Deemed prospectus |
| D. | Shelf prospectus |
| Answer» B. Red-herring prospectus | |
| 96. |
The crucial step in understanding business ethics is |
| A. | Establishing codes of ethics |
| B. | Learning to recognize ethical issues |
| C. | Having efficient operations |
| D. | Implementing strategic plan |
| Answer» B. Learning to recognize ethical issues | |
| 97. |
Which of the following reason is applicable for unethical business practices? |
| A. | Workplace Surveillance |
| B. | Profit making by some of the big companies |
| C. | Success of the company |
| D. | Administrative corruption |
| Answer» D. Administrative corruption | |
| 98. |
A party who does not suffer any loss in case of breach of contract is entitled to |
| A. | Statutory damages |
| B. | Liquidated damages |
| C. | Exemplary damages |
| D. | Nominal damages |
| Answer» D. Nominal damages | |
| 99. |
If part of contract is illegal, then the whole contract will be |
| A. | Voidable |
| B. | Void |
| C. | Legal |
| D. | Illegal |
| Answer» B. Void | |
| 100. |
In which of the following cases, the claim of Quantum Meruitarise |
| A. | When there is no breach of contract |
| B. | When a contract is discovered to be valid |
| C. | Where something has been done non gratuitously |
| D. | Where the contract is divisible |
| Answer» D. Where the contract is divisible | |
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