Find below Law and Ethics MCQ June 2021

Must Read – Financial Accounting MCQ June 2021

• Where goods are delivered to the buyer and he refuses to accept them, the buyer is not bound to
  (a) retain them with him.
  (b) look-after the goods.
  (c) return them to the seller.
  (d) store them in his godown.

• No child shall be allowed to work in a factory unless he has completed his
  (a) 12th year
  (b) 14th year
  (c) 16th year
  (d) 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
  (a) three years
  (b) five years
  (c) seven years
  (d) ten years

• The Employees’ State Insurance Corporation is
  (a) Hindu Undivided Family
  (b) Local Authority
  (c) Charitable Institution
  (d) Body Corporate

• The annual return of an OPC shall be signed by the company secretary or where there is no company secretary, by the
  (a) Senior executive of the company
  (b) Auditor of the company
  (c) Director of the company
  (d) Advocate of the company

• If there is any mis-statement in the prospectus then it would attract the liability on
  (a) The printer
  (b) The issuer
  (c) The publisher
  (d) The proof-reader

• Every company limited by shares shall keep and maintain the Register of Members in Form No.
  (a) MGT-1
  (b) MGT-3
  (c) MGT-7
  (d) MGT-12

• Ethics are the set of moral principles that guide a person’s
  (a) Behaviour
  (b) Philosophy
  (c) Religion
  (d) 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 —
  (a) inadequacy of Consideration
  (b) absence of Free Consent
  (c) incompetence of Parties
  (d) None of the above

• The Latin Maxim “Nemo Dat Quod non Habet” means
  (a) no man can pass a better title than he has
  (b) let the Buyer beware
  (c) no consideration – No contract
  (d) 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?
  (a) Cheque
  (b) Hundi
  (c) Bank Draft
  (d) Promissory Note

• When a partnership firm is continued even after the expiry of fixed term, it is called
  (a) Partnership at Will
  (b) Perpetual Partnership
  (c) Fixed Partnership
  (d) Particular Partnership

• The amount of gratuity payable to an employee shall not exceed
  (a) Ten months’ pay
  (b) Twelve months’ pay
  (c) Twenty months’ pay
  (d) Twenty-five months’ pay

Law and Ethics MCQ June 2021 Test Series – Coming Soon

• In case of a private company, mention the number of members personally present to form the quorum of a meeting of the company.
  (a) One member
  (b) Two members
  (c) Three members
  (d) Four members

• Which of the following is not a valid medium of sending notice to all shareholders?
  (a) By registered post or speed post
  (b) Through public advertisement
  (c) Through registered email-id
  (d) 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
  (a) 50,000
(b) 75,000
  (c) 1,00,000
(d) 1,25,000

• Value chain as a strategic framework for analysis of competitive advantage was promoted by
  (a) Peter Drucker
  (b) F. W. Taylor
  (c) Michael Porter
  (d) 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
  (a) listening it
  (b) hearing it
  (c) understanding it
  (d) interpreting it

• Ankit agrees to pay Bina ₹1500 if it rains today, otherwise Bina pays Ankit ` 2000. This is a
  (a) Gambling
  (b) Wagering agreement
  (c) Valid agreement
  (d) 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
  (a) Endorsement
  (b) Transfer
  (c) Negotiation
  (d) Transmission

• Anusua and Shrita formed a partnership to undertake a construction of a shopping complex in New Delhi. This partnership is called
  (a) Partnership at will
  (b) Particular partnership
  (c) Unlimited partnership
  (d) 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
  (a) 15
  (b) 14
  (c) 21
  (d) 18

• Every employee shall be entitled to receive bonus from his employer in
  (a) a financial year
  (b) an accounting year
  (c) a calendar year
  (d) a manufacturing year

• The annual return of an OPC shall be signed by
  (a) the company secretary
  (b) the director
  (c) the chief accountant
  (d) the auditor

• The minimum age limit for appointment of managing director and the wholetime director is
  (a) 18 years
  (b) 21 years
  (c) 25 years
  (d) 30 years

• A company cannot remove a director appointed
  (a) at the annual general meeting
  (b) at the extra ordinary general meeting
  (c) by the promoter
  (d) by the tribunal

• Moral management requires ethical
  (a) producer
  (b) leadership
  (c) market
  (d) customer

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