McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
| 1. |
The Indian Contract Act came into force on: |
| A. | 15th September, 1872 |
| B. | 1st September, 1872 |
| C. | 1st October, 1872 |
| D. | 15th October, 1872. |
| Answer» B. 1st September, 1872 | |
| 2. |
The Indian Contract Act, applies to the: |
| A. | Whole of India excluding Jammu & Kashmir |
| B. | Whole of India including Jammu & Kashmir |
| C. | States notified by the Central Government from time to time |
| D. | None of the above. |
| Answer» B. Whole of India including Jammu & Kashmir | |
| 3. |
An agreement consists of reciprocal promises between at least |
| A. | four parties. |
| B. | six parties. |
| C. | three parties. |
| D. | two parties. |
| Answer» D. two parties. | |
| 4. |
Every promise and every set of promise forming the consideration for each other is a/an |
| A. | contract. |
| B. | agreement. |
| C. | offer. |
| D. | acceptance. |
| Answer» C. offer. | |
| 5. |
Contract is defined as an agreement enforceable by law, vide Section … of the Indian Contract Act. |
| A. | Section 2(e) |
| B. | Section 2(f) |
| C. | Section 2(h) |
| D. | Section 2(i) |
| Answer» C. Section 2(h) | |
| 6. |
Valid contracts |
| A. | are made by free consent. |
| B. | are made by competent parties. |
| C. | have lawful consideration and lawful object. |
| D. | all of the above. |
| Answer» D. all of the above. | |
| 7. |
A contract creates |
| A. | rights and obligations of the parties to it. |
| B. | obligations of the parties to it. |
| C. | mutual understanding between the parties to it. |
| D. | mutual lawful rights and obligations of the parties to it. |
| Answer» B. obligations of the parties to it. | |
| 8. |
In agreements of a purely domestic nature, the intention of the parties to create legal relationship is |
| A. | to be proved to the satisfaction of the court. |
| B. | presumed to exist. |
| C. | required to the extent of consideration. |
| D. | not relevant at all. |
| Answer» A. to be proved to the satisfaction of the court. | |
| 9. |
………………. is forbidden by law. |
| A. | Valid contract |
| B. | Illegal agreement |
| C. | Voidable contract |
| D. | Unenforceable contract |
| Answer» B. Illegal agreement | |
| 10. |
A makes a contract with B to beat his business competitor. This is an example of |
| A. | valid contract. |
| B. | illegal agreement. |
| C. | voidable contract. |
| D. | unenforceable contract. |
| Answer» B. illegal agreement. | |
| 11. |
Which of the following legal statement is incorrect? |
| A. | An agreement enforceable by law is a contract [Section 2] |
| B. | All agreements are contracts [Section 10] |
| C. | A proposal when accepted becomes a promise [Section 2] |
| D. | Every promise and every set of promise forming the consideration for each other is an agreement [Section 2(e)] |
| Answer» B. All agreements are contracts [Section 10] | |
| 12. |
……………… is made by words written. |
| A. | Express contract |
| B. | Implied contract |
| C. | Tacit contract |
| D. | Unlawful contract |
| Answer» A. Express contract | |
| 13. |
Agreement the meaning of which is uncertain is |
| A. | Void |
| B. | Valid |
| C. | Voidable |
| D. | Illegal |
| Answer» A. Void | |
| 14. |
Which of the following relationship raise presumption of positive influence? |
| A. | Parent and Child |
| B. | Religious/ Spiritual Guru and disciple |
| C. | Guardian and Ward |
| D. | All of the above |
| Answer» D. All of the above | |
| 15. |
Which of the following is false with respect to minor entering a contract? |
| A. | An agreement with or by a minor is void ab initio |
| B. | A minor can be a beneficiary of a contract |
| C. | The contracts involving a minor as a beneficiary may be enforced at the option of the third party |
| D. | A minor cannot ratify a contract on attaining majority |
| Answer» C. The contracts involving a minor as a beneficiary may be enforced at the option of the third party | |
| 16. |
Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are example of |
| A. | express contract. |
| B. | implied contract. |
| C. | tacit contract. |
| D. | unlawful contract. |
| Answer» B. implied contract. | |
| 17. |
…………….. is a one-sided contract in which only one party has to perform his promise or obligation. |
| A. | Void contract |
| B. | Illegal agreement |
| C. | Unilateral contract |
| D. | Bilateral contract |
| Answer» C. Unilateral contract | |
| 18. |
All Contract is a/an …………….. |
| A. | Offer |
| B. | Agreement |
| C. | Acceptance |
| D. | Tr |
| Answer» A. Offer | |
| 19. |
A/an …………… is every Promise and every set of promises, forming consideration for each other |
| A. | Offer |
| B. | Agreement |
| C. | Acceptance |
| D. | Tr |
| Answer» A. Offer | |
| 20. |
Every agreement and promise enforceable by law is ……………. |
| A. | Offer |
| B. | Contract |
| C. | Acceptance |
| D. | Consideration |
| Answer» B. Contract | |
| 21. |
“A Contract is an agreement creating and defining obligations between the parties” the definition was put forwarded by |
| A. | Dr. Ambedkar |
| B. | Pollock |
| C. | Salmonds |
| D. | N.D.Kapoor |
| Answer» C. Salmonds | |
| 22. |
The Law of Contract is nothing but ............... |
| A. | A Child of Commercial dealing |
| B. | A Child of Religion |
| C. | A Child of day to day Politics |
| D. | A Child of Economics. |
| Answer» A. A Child of Commercial dealing | |
| 23. |
To form a valid contract, there should be atleast ............. |
| A. | Two parties |
| B. | Three parties |
| C. | Four parties |
| D. | Five parties. |
| Answer» A. Two parties | |
| 24. |
Contractual rights and duties are created by ............... |
| A. | State |
| B. | Statute |
| C. | Parties |
| D. | Custom or Usage. |
| Answer» C. Parties | |
| 25. |
Agreement is defined by the section ............... of the Indian Contract Act, 1872. |
| A. | Section 2(c) |
| B. | Section 2(e) |
| C. | Section 2(g) |
| D. | Section 2(i) |
| Answer» B. Section 2(e) | |
| 26. |
Which of the following labour legislations is implemented only by the Central Implementation Machinery? |
| A. | Trade Unions Act |
| B. | Maternity Benefit Act |
| C. | Industrial Disputes Act |
| D. | Employees’ State Insurance Act |
| Answer» D. Employees’ State Insurance Act | |
| 27. |
Under Section 2(12) the Act is applicable to non-seasonal factories employing---------- persons |
| A. | 10 or more |
| B. | 25 or more |
| C. | 20 or more |
| D. | 5 or more |
| Answer» A. 10 or more | |
| 28. |
Employees’ Deposit Linked Insurance Scheme was introduced in the year |
| A. | 1976 |
| B. | 1961 |
| C. | 1923 |
| D. | 1948 |
| Answer» A. 1976 | |
| 29. |
The Payment of Gratuity Act was introduced in the year |
| A. | 1961 |
| B. | 1923 |
| C. | 1972 |
| D. | 1976 |
| Answer» C. 1972 | |
| 30. |
The Maternity Benefit Act was introduced in the year |
| A. | 1961 |
| B. | 1923 |
| C. | 1976 |
| D. | 1948 |
| Answer» A. 1961 | |
| 31. |
Which of the following benefits is covered under social security schemes? |
| A. | Medical facilities |
| B. | Retirement benefits |
| C. | Compensation facilities |
| D. | All of the above |
| Answer» D. All of the above | |
| 32. |
Making peace with employees by fulfilling all their needs without any resistance is the essence of the |
| A. | Appeasement theory |
| B. | Policing theory |
| C. | Benevolence theory |
| D. | Religious theory |
| Answer» A. Appeasement theory | |
| 33. |
The age of dependent for obtaining dependent’s benefit under the Employees State Insurance Act has now been enhanced from 18 years to |
| A. | 22 years |
| B. | 24 years |
| C. | 20 years |
| D. | 25 years |
| Answer» D. 25 years | |
| 34. |
Employees who are getting a daily average wages up to ________ are exempted from contributing employees’ share of ESI contribution. |
| A. | Rs 70 |
| B. | Rs 384.60 |
| C. | Rs 100 |
| D. | Rs 50 |
| Answer» C. Rs 100 | |
| 35. |
The employer’s share of contribution under the ESI Act is |
| A. | 8.33 % |
| B. | 1.75 % |
| C. | 12 % |
| D. | 4.75% |
| Answer» D. 4.75% | |
| 36. |
As per the latest amendment under the ESI Act, 1948 medical treatment is now available to persons under voluntary retirement scheme also. |
| A. | True |
| B. | False |
| C. | Partly True |
| D. | The Act is silent |
| Answer» A. True | |
| 37. |
Which of the following legislations in India is governed by a tripartite organisation consisting of representatives of labour, management and Government? |
| A. | Payment of Bonus Act |
| B. | Industrial Disputes Act |
| C. | ESI Act |
| D. | Maternity Benefit Act |
| Answer» C. ESI Act | |
| 38. |
What is the wage limit for employees to be covered under the Employee State Insurance Act as per the latest amendment? |
| A. | Rs. 25,000 per month |
| B. | Rs. 18,000 per month |
| C. | Rs. 15,000 per month |
| D. | Rs. 20,000 per month |
| Answer» C. Rs. 15,000 per month | |
| 39. |
Employees’ share of contribution under the ESI Act is |
| A. | 1.75 % |
| B. | 4.75% |
| C. | 12% |
| D. | 8.33% |
| Answer» A. 1.75 % | |
| 40. |
Which of the following legislations extends some sort of benefit to retired employees also? |
| A. | Employees’ State Insurance Act |
| B. | Payment of Bonus Act |
| C. | Maternity Benefit Act |
| D. | Employees’ Compensation Act |
| Answer» A. Employees’ State Insurance Act | |
| 41. |
PF act is applicable to an establishment engaged in any industry specified in ……... |
| A. | Schedule II |
| B. | Hazardous Industries List |
| C. | Schedule IX |
| D. | Schedule I |
| Answer» D. Schedule I | |
| 42. |
Minimum ……….. Persons must be employed in as establishment for the applicability of the PF act. |
| A. | 15 |
| B. | 20 |
| C. | 35 |
| D. | 50 |
| Answer» B. 20 | |
| 43. |
The term “Appropriate Government” is defined in which section of the PF Act? |
| A. | Section 2(a) |
| B. | Section 2 (b) |
| C. | Section 2 (d) |
| D. | Section 2 (e) |
| Answer» A. Section 2(a) | |
| 44. |
According to Section 2(a) which is the appropriate Government for a mine in a given state? |
| A. | State Government |
| B. | Central Government |
| C. | Both (A) and (B) |
| D. | None of these |
| Answer» B. Central Government | |
| 45. |
Section 2(aa) of the PF act defines the term …………… |
| A. | Basic Wages |
| B. | Authorised Officer |
| C. | Government |
| D. | None of these |
| Answer» B. Authorised Officer | |
| 46. |
Deputy Provident Fund Commissioner is an authorised officer. |
| A. | True |
| B. | False |
| C. | None |
| D. | all of the above |
| Answer» A. True | |
| 47. |
The term “Basic Wages” is defined in which section of the Provident Fund Act? |
| A. | Section 2(g) |
| B. | Section 2(d) |
| C. | Section 2(b) |
| D. | None of these |
| Answer» C. Section 2(b) | |
| 48. |
Bonus is part of Basic Wages as defined in the respective section in the PF Act. |
| A. | True |
| B. | False |
| C. | None |
| D. | all of the above |
| Answer» B. False | |
| 49. |
Section 2(d) of the Provident Fund Act defines ……… |
| A. | Hazardous Process |
| B. | Employee |
| C. | Employment |
| D. | Controlled Industry |
| Answer» D. Controlled Industry | |
| 50. |
The chairman and members of Central Board constituted under Employees Provident Fund are appointed by |
| A. | Supreme Court |
| B. | State Government |
| C. | Central Government |
| D. | None of the above |
| Answer» C. Central Government | |
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