LAW AND ETHICS MCQ 3

Multiple Choice Question on Law and Ethics

  • According to Minimum Wages Act, 1948 wage slip shall be issued by every employer to his employees
    • One day prior to disbursement of wages
    • On the date of disbursement of wages
    • One day later to the disbursement of wages
    • Anytime during the month
  • All monies received on application shall be kept in a separate bank account in a bank.
    • Nationalised
    • Scheduled
    • Government
    • Any of the above
  • Where a company issues shares with differential right, the  should be maintained under Section 88 of Companies Act, 2013.
    • List of share-holders
    • Register of shares
    • Register of Members
    • List of shares
  • Rule 34 provides that where the Tribunal has made winding up order of a LLP, the liquidator shall submit a report containing which of the following particulars:
    • Debts due to the LLP
    • Guarantees given by the LLP
    • Existing and contingent liabilities of the LLP
    • All of the above
  • Every member of a company listed by shares and holding equity share capital shall have the right to  on every  placed before the company.
    • vote; resolution
    • Speak; agenda
    • Speak; resolution
    • Any of the above.
  • When a professional promotes a position or opinion to such extent that some objectivity may have to be compromised, this threat is known as
    • Familiarity threat
    • Objectivity threat
    • Advocacy threat
    • Intimidation threat
  • The  of the company shall contain the regulations for management of the company.
    • Articles
    • Memorandum
    • Both
    • None of the above
  • The supervisory board under the German Model is known as
    • Aufsichtsrat
    • Kiertsu
    • Vorstand
    • Kyosei
  • An audit committee has four fold relationship and therefore has to interact with management, internal auditor, public and
    • Cost auditor
    • Statutory auditor
    • Tax auditor
    • Management auditor
  • Which of the following is a method of discharge from liability?
    • By endorsement
    • By promising
    • By cancellation
    • By registration
  • A partner may contribute to the LLP
    • tangible or intangible property.
    • moveable or immoveable property.
    • money, promissory note etc.
    • Any of the above
  • Gratuity is payable to an employee after he has rendered continuous service for not less than five years on his
    • transfer
    • daughter’s marriage
    • re-employment
    • resignation
  • Who will not be considered as an employee?
    • Canteen workers
    • Casual workers
    • Partners
    • Part time employee
  • “Individual pension account” means an account of subscriber, executed by a contract setting out the terms and conditions under the
    • Provident fund scheme
    • National pension system
    • Citizen welfare system
    • Minimum wage payment scheme
  • Which of the following is not a category of company?
    • Inactive company
    • Assistant company
    • Dormant company
    • Producer company
  • Section 92 of the Companies Act, 2013 requires a company to prepare and file annual return in form no.
    • MGT-12
    • INC-23
    • MGT-7
    • SH-10
  • The main feature of e-contract is
    • Cost and acceptability
    • Purity and clarity
    • Speed, accurate and reliable
    • Perfection and attractive
  • Which of the following is not an unpaid seller’s right against the goods?
    • The right of retention
    • The right of stoppage in transit
    • The right of seeking claim for damage
    • The right of resale
  • Where the endorser does not want that the endorsee or any other holder to incur any expense on his account is called
    • Restrictive endorsement
    • Sans frais endorsement
    • Conditional endorsement
    • Unwanted endorsement
  • The liability of the partners will continue for the acts done before the dissolution, even after the dissolution, until
    • Public notice is given of the dissolution
    • Partners are getting the final payment
    • Claim is demanded by the creditors
    • The death of partners
  • Every employee shall be entitled to receive bonus from his employer in an accounting year if he has worked for not less than
    • Ten working days
    • Twenty working days
    • Thirty working days
    • Forty working days
  • Under Employee’s State Insurance Act, 1948, the term of the office of the members of Medical Benefit Council shall be
    • 2 Years
    • 4 Years
    • 5 Years
    • 10 Years
  • Which one cannot be transacted through postal ballot?
    • Appointment of auditor
    • Election of a Director
    • Buy back of shares by a company
    • Change in place of registered office outside the local limits of any city, town or village
  • The appointment of an independent director shall be approved by the
    • Board meeting
    • General meeting
    • Registrar of Companies
    • Central Government
  • The sweat equity shares shall be locked in for a period of  years from the date of allotment.
    • One
    • Two
    • Three
    • Four

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