Question:

The amount of gratuity payable to an employee shall not exceed

A.

Ten months’ pay

B.

Twelve months’ pay

C.

Twenty months’ pay

D.

Twenty-five months’ pay

Answer» c. Twenty months’ pay

Question:

Which of the following is not a category of company?

A.

Inactive company

B.

Assistant company

C.

Dormant company

D.

Producer company

Answer» b. Assistant company

Question:

Review of minimum wages is to be done at such interval not exceeding-

A.

3 years

B.

5 years

C.

7 years

D.

10 years

Answer» b. 5 years

Question:

The minimum age limit for appointment of managing director and the wholetimedirector is

A.

18 years

B.

21 years

C.

25 years

D.

30 years

Answer» b. 21 years

Question:

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.

Question:

An audit committee has four fold relationship and therefore has to interact with management, internal auditor, public and

A.

Cost auditor

B.

Statutory auditor

C.

Tax auditor

D.

Management auditor

Answer» b. Statutory auditor

Question:

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.