LAW AND ETHICS MCQ 9

Multiple Choice Question on Law and Ethics

  • An instrument of the proxy shall be deposited with the registered office of the company before  hours of the conduct of the meeting.
    • 7 hours
    • 21 hours
    • 48 hours
    • 60 hours
  • The minimum number of designated partners in an LLP shall  
    • 1
    • 2
    • 7
    • 15
  • At every  AGM, not less than  of the total number of directors shall retire by rotation.
    • One third
    • Two third
    • Three fourths
    • Half
  • The minimum number of directors for a public company is  
    • 1
    • 2
    • 3
    • 7
  • This is not one of the 7 principles of public life.
    • Integrity
    • Honesty
    • Content
    • Accountability
  • Which of the following is an invitation for offer?
    • A tender to supply goods at a certain time
    • A request for a loan
    • Bids in an auction sale
    • A catalogue of goods for sale
  • Where seller delivers to the buyer a quantity of goods less than the contracted to sell, the buyer
    • may reject them
    • should not reject them as more quantity might be supplied.
    • may resell them
    • give less price for them.
  • A person who has ultimate control over the affairs of the factory under Factories Act, 1948 is called as:
    • Occupier
    • Manager
    • Chairman
    • Managing Director
  • A bearer instrument is negotiated by
    • delivery only
    • delivery and endorsement
    • endorsement
    • stamping and attestation
  • X, Y and Z are partners in a firm. X, without the authority of Y and Z buys certain  shares in his name out of partnership money. These shares will constitute
    • Partnership liability
    • Partnership Property
    • Partnership networth
    • Partnership Capital
  • Business ethics calls for avoidance of
    • Competition
    • Publicity
    • Monopoly
    • Self-interest
  • Business ethics has a  application.
    • Universal
    • Natural
    • Practical
    • Physical
  • A contract is a combination of
    • agreement and free consent
    • agreement and consideration
    • agreement and enforceability
    • agreement and competence of parties
  • A proper  foundation of  ethics  requires a standard of  to which all goals and actions can be compared to.
    • value
    • living
    • life
    • speech
  • The provisions regarding maximum number of members in a partnership are given in
    • The Partnership Act
    • The Companies Act
    • The Societies Registration Act
    • The Co-operative Societies Act
  • X and Y agree to divide the profits of a business in equal shares but the loss if any is to be borne by X only. The partnership agreement is
    • void
    • voidable
    • lawful
    • illegal
  • First aid boxes or cupboard equipped with prescribed contents and not less than one in number must be provided and maintained in every factory so as to be accessible during all working hours for every
    • 200 workers for any time
    • 150 workers for any time
    • 500 workers for any time
    • 30 workers for any time
  • XYZ Ltd., to which the Payment of Wages Act, 1936 is applicable, fixes the wages period of 36 days. You as a Cost and Management Accountant of the Company, how would youadvice the company.
    • There is no problem in the above act of the Company
    • As per Section 4(2) of the Act, no wage period can exceed one month. So the company would be advised accordingly.
    • The wages period can be more than 30 days subject to approval of appropriate Government
    • The company should take permission of Inspector of the factory.
  • When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the
    • Preceding day
    • Next preceding business day
    • Same day of next week
    • 3rd day following the day holiday
  • In case of an employee who has not completed 15 years of age at the beginning of the Accounting year, the minimum bonus will be
    • 100 or 8.33% of salary or wages whichever is higher.
    • 60 or 8.33% of salary or wages whichever is higher.
    • 60 or 8.33% of salary or wages whichever is lower.
    • 8.33% of salary or wages.
  • Every   LLP   firm   shall   have at  least  designated partners who are individuals.
    • two
    • three
    • four
    • Five
  • K owns a residential flat in Chennai. He is entitled to quiet possession and enjoyment of his property. This is called –
    • Rights in Personam
    • Rights in Rem
    • Constitutional Right
    • There is no right at all
  • X sells the goodwill of his retail store to Y for `5 lacs and promises not to carry on the same business for ever and anywhere in India. This agreement is:
    • Valid
    • Void
    • Voidable
    • Illegal
  • In a Contract of Guarantee there is/are:
    • One contract
    • Two contracts
    • Three contracts
    • Four contracts
  • Right of Stoppage in transit can be exercised by the Unpaid Seller, where the Buyer:
    • is solvent
    • becomes insolvent
    • acts fraudulently
    • acts smartly
  • “Nemo dat quad non habet”, means:
    • no one is greater than god
    • none can give who does not himself possess
    • everyone can give everything he has
    • everyone is bound by is habit
  • According to Sec 2(n) “Occupier” of a factory means  
    • The person who has established the factory
    • The person who has highest profit share in the factory
    • The person who has ultimate control over the affairs of the factory
    • The person who has ultimate control over the employees of the factory
  • The term ‘sub-agent’ in the business of agency is defined as a person employed by, and acting under the control of the
    • Principal
    • Original agent
    • Lawyer
    • Third person
  • The first endorsement of an instrument can be made by the
    • Banker
    • Payee
    • Holder in due course
    • Agent
  • Which of the following is not the mode of dissolution of a firm under voluntary dissolution?
    • Dissolution by agreement
    • Dissolution on the happenings of certain contingencies
    • Dissolution on becoming a partner of unsound mind
    • Compulsory dissolution
  • White wash or color wash should be carried out at least once in every period of
    • 14 months
    • 24 months
    • 48 months
    • 60 months
  • The term ‘family’ as defined in ESI Act, 1948 does not include
    • a spouse
    • a minor adopted child
    • a dependent unmarried daughter
    • an independent married sister

For Blogger Post – https://pnautiyal.blogspot.com/2020/04/cma_6.html
For previous post – https://cmaindiagroup.com/law-and-ethics-mcq-2/
https://cmaindiagroup.com/law-and-ethics-mcq-5/
https://cmaindiagroup.com/law-and-ethics-mcq-3/
https://cmaindiagroup.com/law-and-ethics-mcq-4/
https://cmaindiagroup.com/law-and-ethics-mcq-7/
For Study Plan – https://cmaindiagroup.com/study-plan-law-and-ethics/

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