LAW AND ETHICS MCQ 9

Spread the love

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

At every AGM, not less than of the total number of directors shall retire by rotation.
- One third
- Two third
- Three fourths
- Half

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

Related Posts