As per IT Act, 2000, those who fails to furnish documents will be penalised upto
A. Rs. 5,000
B. Rs. 25,000
C. Rs. 50,000
D. Rs. 1,50,000
Select an option to see the answer and solution.
As per the Act, the contracts made after incorporation of the company but before it is entitled to commence business are termed as:
A. Pre-incorporation contracts
B. Provisional contracts
C. Preliminary contracts
D. None of the above
Select an option to see the answer and solution.
In the event of company being wound up, the Tribunal shall prepare list of contributories into
A. List A
B. List B
C. Either A or B
D. Both A and B
Select an option to see the answer and solution.
Which statement(s) does/do not apply on bill of exchange?
A. It should be in writing
B. It should be accepted
C. It should be stamped
D. It should be registered
Select an option to see the answer and solution.
Which one of the following relates to warranty?
A. It is of vital importance for completion of contract
B. If there is breach, the aggrieved party can repudiate the contract
C. It is essential to the main purpose of the contract
D. In case of breach, the aggrieved party can claim only damages
Select an option to see the answer and solution.
Which of the following items should be part of patent ability criteria?
A. Novelty
B. Inventive step
C. Capable of Industrial application
D. All of the above
Select an option to see the answer and solution.
Which of the following statements are true in the context of contract of guarantee?
A. The person who gives the guarantee is called the 'surety'
B. The person in respect of whose default the guarantee is given is called the 'principal debtor'
C. The person to whom the guarantee is given is called the 'creditor'
D. All of the above
Select an option to see the answer and solution.
Which of the following act governs the formation and regulation of Limited Liability Partnership in India?
A. Partnership Act, 1932
B. Companies Act, 2013
C. Limited Liability Partnership Act, 2008
D. Limited Liability Partnership Act, 2010
Select an option to see the answer and solution.
Consider the following statements regarding Competition Commission of India?
1. It was established in 2003.
2. Commission has been functioning as a single member body right from its inception.
Which among the above statements is/are correct?
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
Select an option to see the answer and solution.
The statement which mentions in detail the matters to be considered in a meeting is called
A. Minutes of the meeting
B. Agenda of the meeting
C. Notice of the meeting
D. Resolution
Select an option to see the answer and solution.
Which of the following company/companies are registered by the Companies Act, 2013?
A. Government Company
B. Private Company
C. Public Company
D. All of the above
Select an option to see the answer and solution.
Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note?
1. Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act
2. Containing an unconditional undertaking
3. To pay a certain sum of money only to a specific person or the bearer
4. The seller is bound to accept the promissory note
5. A document was written and signed by the payer/maker
A. 2, 3 and 5
B. 2, 3 and 4
C. 1, 2, 3 and 4
D. All of the above
Select an option to see the answer and solution.
In India, which of the following are non-GST goods?
1. Petroleum crude
2. High-speed diesel
3. Motor spirit (commonly known as petrol)
4. Natural gas
5. Aviation turbine fuel
6. Alcoholic liquor for human consumption
A. 1, 2, 4 and 5
B. 2, 3 and 4
C. 1, 3, 4 and 5
D. All of the above
Select an option to see the answer and solution.
If any part of a single consideration for one or more objects, or any one or any part of any one of several consideration of a single object is unlawful, then:
A. only that object shall be held void but the agreement shall be valid
B. the agreement shall be void
C. the agreement shall be voidable at the option of either party to the agreement
D. the agreement is still considered valid
Select an option to see the answer and solution.
Which of the following acts was replaced with the introduction of the Competition Act 2002?
A. FERA
B. MRTP
C. POTA
D. None of these
Select an option to see the answer and solution.
The persons who sign the Memorandum of Association of a company are called:
A. Shareholders
B. Directors
C. Subscribers to Memorandum of Association
D. Promoters
Select an option to see the answer and solution.
Digital signature is created and verified using
A. HTML
B. programme
C. cryptography
D. graphical coding
Select an option to see the answer and solution.
Which of the following is not regulated by the Competition Act, 2002?
A. Anti-competitive agreements
B. Medical negligence
C. Abuse of dominant position
D. Predatory pricing
Select an option to see the answer and solution.
Which form is to be used for registration of GST?
A. Form GSTR-1A
B. Form GSTR-2
C. Form GST REG
D. Form GSTREG-01
Select an option to see the answer and solution.
In which of the following cases, right of lien can be exercised?
A. Where goods have not been sold on credit
B. Goods have been sold on credit and period of credit has expired
C. Both A and B
D. Neither A nor B
Select an option to see the answer and solution.