Question:

Which one of the following is the subject matter of the contract?

A.

Existing or future goods

B.

Goods perishing before making contract

C.

Goods perishing before sale but after agreement to sell

D.

Any of the above.

Answer» d. Any of the above.

Question:

A person is said to be of sound mind for the purposes of making a contract if, at thetime when he makes it, he is capable of

A.

listening it

B.

hearing it

C.

understanding it

D.

interpreting it

Answer» c. understanding it

Question:

Where goods are delivered to the buyer and he refuses to accept them, the buyer isnot bound to

A.

retain them with him.

B.

look-after the goods.

C.

return them to the seller.

D.

store them in his godown.

Answer» c. return them to the seller.

Question:

Section 92 of the Companies Act, 2013 requires a company to prepare and fileannual return in form no.

A.

MGT-12

B.

INC-23

C.

MGT-7

D.

SH-10

Answer» c. MGT-7

Question:

Board of Directors of every listed Company shall constitute an Audit Committee whichshall consists of a minimum of

A.

2 Directors

B.

3 Directors

C.

4 Directors

D.

5 Directors

Answer» b. 3 Directors

Question:

The appropriate government may fix minimum rate of wages for-

A.

Time work

B.

Piece work

C.

Guarantee time rate

D.

All the above.

Answer» d. All the above.

Question:

Business ethics is based on well accepted

A.

Moral and Social Values

B.

Social Values only

C.

Moral Values only

D.

None of the above

Answer» a. Moral and Social Values

Question:

Section 7(4) of Companies Act, 2013 provides that the company shall maintain and preserve copies of all documents and information as originally filed with the registrar till it’s ______________ under this Act.

A.

Incorporation

B.

Commencement

C.

Dissolution

D.

None of the above

Answer» c. Dissolution

Question:

A person who is not a partner of a Partnership Firm, but he may liable for firm’s debt asif 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

Question:

In case of contractual obligations where the promisor dies before performance:

A.

The legal representatives of the promisor must perform the promise

B.

The legal representatives of the promisor must perform the promise provided it is not one dependent on the personal qualifications of the promisor

C.

The legal representatives may not perform the promise

D.

The legal representatives are not liable to pay damages for nonperformance of the promise.

Answer» d. The legal representatives are not liable to pay damages for nonperformance of the promise.