LAW AND ETHICS MCQ 4

Multiple Choice Question on Law and Ethics

  • To resolve the Ethical Conflict, following should not be considered.
    • Relevant facts
    • Alternative Course of action
    • Arms Length
    • Ethical issues involved
  • Which one of the following is not a quasi contract?
    • Claim for necessaries supplied to person incapable of contracting, or on his account
    • Reimbursement of persons paying money by another, in payment of which he is interested
    • Uncertainty and futurity of the event to which it is related
    • Responsibility of finder of goods.
  • Which one of the following is the subject matter of the contract?
    • Existing or future goods
    • Goods perishing before making contract
    • Goods perishing before sale but after agreement to sell
    • Any of the above.
  • One of the following is not a negotiable instrument. Identify the same.
    • Share certificate
    • Bill of Exchange
    • Cheque
    • Promissory note
  • Which one of the following is a Bill of Exchange?
    • A banker’s draft
    • A demand draft
    • An order issued by a District Board Engineer on Government Treasury for payment to or order of a certain person
    • All the above.
  • Who can take active part in the management of the firm?
    • Sleeping partner;
    • Secret partner;
    • Working partner;
    • Nominal partner.
  • A new partner can be introduced as a partner into a firm-
    • At the discretion of active partner;
    • At the decision of partners authorized in this behalf;
    • With the consent of all existing partners;
    • None of the above.
  • Shelter  rooms  with  suitable  lunch  rooms  are  to  be  provided,  if more than……………workers are employed.
    • 100
    • 150
    • 500
    • 1000
  • Gratuity is payable to an employee  .
    • On his superannuation;
    • Retirement;
    • Retrenchment;
    • In all the above cases.
  • Contribution of the employer to employees’ pension scheme is-
    • 8.33%
    • 10%
    • 12%
    • None of the above.
  • Who, among the following, is not the Principal Employer?
    • Occupier of the factory;
    • Owner of the factory;
    • Legal representative of the owner;
    • Legal representative of the contractor.
  • The time limit for making bonus payment is-
    • Within a period of one month from the close of the accounting year;
    • Within a period of three months from the close of the accounting year;
    • Within a period of six months from the close of the accounting year;
    • Within a period of eight months from the close of the accounting year.
  • Review of minimum wages is to be done at such interval not exceeding-
    • 3 years
    • 5 years
    • 7 years
    • 10 years
  • The wages of employed persons in an establishment where less than 1000 persons are employed, shall be paid before-
    • 7th day
    • 10th day
    • 15th day
    • Second working day
  • In case of unlisted company the duplicate share certificate shall be issued within a period of-
    • 45 days
    • 3 months
    • 6 months
    • None of the above
  • Which one of the following is not a contract?
    • A find B’s purse and gives it to him. B promises to give him `1,000/-
    • A promises, for no consideration, to give `10,000/-
    • A agrees to sell a horse worth of `1,000/- for `10/-
    • A supports B’s infant son. B promises to pay A’s expenses in so doing.
  • Find out the right of the unpaid seller from the following-
    • A lien on the goods for the price while he is in possession of them;
    • A right of resale as limited by the Act;
    • In case of the insolvency of the buyer a right of stopping the goods in transit after he has parted with the possession of them.
    • All of the above.
  • Holder in due course means any person-
    • Drawing the instrument;
    • Who for consideration became the possession of a promissory note;
    • Named in the instrument to whom or to whom order the money is directed to be paid;
    • None of the above.
  • Intimation of the reconstitution of change in a registered partnership is to be given to the Registrar of firms-
    • No time limit;
    • Within 30 days;
    • Within 60 days;
    • Within 90 days.
  • A firm shall not contain any name-
    • King;
    • Queen;
    • Empire;
    • All of the above
  • The fee payable for registration of LLP whose contribution exceeds `10 lakhs is
    • 500/-
    • 2000/-
    • 4000/-
    • 5000/-
  • Identify from the following which is the power of Inspector of Factory.
    • Enter into any place of a factory;
    • Make inquiry into any accident;
    • Seize or take copies of any document;
    • All the above.
  • The gratuity is payable to an employee shall not exceed-
    • 12 months pay
    • 16 months pay;
    • 20 months pay
    • 24 months pay
  • Withdrawal from PF may be allowed for –
    • Marriage of the employer;
    • Post matriculation education of children;
    • For the purchase of a dwelling place;
    • For illness in certain cases.
  • ESI Corporation is a-
    • Partnership firm;
    • Limited Liability Partnership;
    • Body Corporate;
    • Hindu Undivided Family.
  • Who is not eligible to get bonus?
    • A temporary workman;
    • A dismissed employee;
    • A piece rated employee;
    • A retrenched employee.
  • The appropriate government may fix minimum rate of wages for-
    • Time work;
    • Piece work;
    • Guarantee time rate;
    • All the above.

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