LAW AND ETHICS MCQ 2

Multiple Choice Question on Law and Ethics

  • The following is the disadvantage of business ethics:
    • Through increasing morale and trust business can increase their market share
    • Publicity due to well and ethical performance
    • Acceptance of products of the company by the public
    • Diversity in achievements
  • A proposal may be revoked at any time before
    • the communication of acceptance
    • the payment of consideration
    • signing the agreement
    • execution of the proposal
  • Which of the following is not to be taken care while admitting a new partner?
    • Computation of newprofit sharing ratio and sacrifice ratio
    • Accounting treatment of goodwill
    • Professional qualification of admitting partner
    • Revaluation of assets and liabilities
  • Where goods are delivered to the buyer and he refuses to accept them, the buyer is not bound to
    • retain them with him.
    • look-after the goods.
    • return them to the seller.
    • store them in his godown.
  • No child shall be allowed to work in a factory unless he has completed his
    • 12th year
    • 14th year
    • 16th year
    • 18th year
  • Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than
    • three years
    • five years
    • seven years
    • ten years
  • The Employees’ State Insurance Corporation is
    • Hindu Undivided Family
    • Local Authority
    • Charitable Institution
    • Body Corporate
  • The annual return of an OPC shall be signed by the company secretary or where there is no company secretary, by the
    • Senior executive of the company
    • Auditor of the company
    • Director of the company
    • Advocate of the company
  • If there is any mis-statement in the prospectus then it would attract the liability on
    • The printer
    • The issuer
    • The publisher
    • The proof-reader
  • Every company limited by shares shall keep and maintain the Register of Members in Form No.
    • MGT-1
    • MGT-3
    • MGT-7
    • MGT-12
  • Ethics are the set of moral principles that guide a person’s
    • Behaviour
    • Philosophy
    • Religion
    • Profession
  • Anu threaten to kidnap Binu’s daughter if she does not sell her house worth ` 90 Lakh to her for ` 20 Lakh. This Contract is void due to —
    • inadequacy of Consideration
    • absence of Free Consent
    • incompetence of Parties
    • None of the above
  • The Latin Maxim “Nemo Dat Quod non Habet” means
    • no man can pass a better title than he has
    • let the Buyer beware
    • no consideration – No contract
    • ignorance of law is no excuse
  • As per the RBI Act, which of the following negotiable Instruments can be payable to the bearer on demand?
    • Cheque
    • Hundi
    • Bank Draft
    • Promissory Note
  • When a partnership firm is continued even after the expiry of fixed term, it is called
    • Partnership at Will
    • Perpetual Partnership
    • Fixed Partnership
    • Particular Partnership
  • The amount of gratuity payable to an employee shall not exceed
    • Ten months’ pay
    • Twelve months’ pay
    • Twenty months’ pay
    • Twenty-five months’ pay
  • In case of a private company, mention the number of members personally present to form the quorum of a meeting of the company.
    • One member
    • Two members
    • Three members
    • Four members
  • Which of the following is not a valid medium of sending notice to all shareholders?
    • By registered post or speed post
    • Through public advertisement
    • Through registered email-id
    • Through courier service
  • If any default is made in filing refund of money, the company and every officer, who is in default shall be liable to a penalty maximum up to
    • 50,000
    • 75,000
    • 1,00,000
    • 1,25,000
  • Value chain as a strategic framework for analysis of competitive advantage was promoted by
    • Peter Drucker
    • F. W. Taylor
    • Michael Porter
    • Tom Peters
  • A person is said to be of sound mind for the purposes of making a contract if, at the time when he makes it, he is capable of
    • listening it
    • hearing it
    • understanding it
    • interpreting it
  • Ankit agrees to pay Bina ₹1500 if it rains today, otherwise Bina pays Ankit ` 2000. This is a
    • Gambling
    • Wagering agreement
    • Valid agreement
    • Speculation
  • Writing of a person’s name on the face or back of an instrument or on a slip of paper attached to it is known as
    • Endorsement
    • Transfer
    • Negotiation
    • Transmission
  • Anusua and Shrita formed a partnership to undertake a construction of a shopping complex in New Delhi. This partnership is called
    • Partnership at will
    • Particular partnership
    • Unlimited partnership
    • Partnership with undefined mission
  • As per the Minimum Wages Act 1948, Adolescent means a person who has completed the age of 14 years but not completed the age of
    • 15
    • 14
    • 21
    • 18
  • Every employee shall be entitled to receive bonus from his employer in
    • a financial year
    • an accounting year
    • a calendar year
    • a manufacturing year
  • The annual return of an OPC shall be signed by
    • the company secretary
    • the director
    • the chief accountant
    • the auditor
  • The minimum age limit for appointment of managing director and the wholetime director is
    • 18 years
    • 21 years
    • 25 years
    • 30 years
  • A company cannot remove a director appointed
    • at the annual general meeting
    • at the extra ordinary general meeting
    • by the promoter
    • by the tribunal
  • Moral management requires ethical
    • producer
    • leadership
    • market
    • customer


For Study Plan Law and Ethics –https://cmaindiagroup.com/study-plan-law-and-ethics/
For Blog – http://pnautiyal.blogspot.com
Soon you will find Test Paper on Law and Ethics MCQ

Leave a Comment

//zuphaims.com/afu.php?zoneid=3629851