As per Information Technology Act 2000, if you fails to maintain books of account, then you will be penalised upto
A. Rs. 5,000 per day
B. Rs. 50,000
C. Rs. 25,000
D. Rs. 1,50,000
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What is the maximum rate prescribed under CGST?
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According to Section 14, consent is said to be free when it is not caused by:
1. Coercion
2. Undue influence
3. Fraud
4. Misrepresentation
5. Mistake
A. 1, 2 and 3
B. 2, 3 and 4
C. 1, 2, 3 and 4
D. 1, 2, 3, 4 and 5
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Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R) . Read the statements and choose the correct answer:
Assertion (A): Consumers need to be given legal protection against certain trade practices and business methods.
Reason (R): Protection as per market forces and 'Caveat Emptor' is not enough as perfectly competitive market is an economics dream and consumer sovereignty is a myth.
A. Both (A) and (R) are correct, but (R) is not the right explanation of (A)
B. (A) is correct, but (R) is incorrect
C. (A) is incorrect, but (R) is correct
D. Both (A) and (R) are correct and (R) is the right explanation of (A)
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Which of the following does not form the part of the important information to be incorporated in the Memorandum of Association as specified in the Companies Act, 2013?
A. The name of the company and the state in which it is situated
B. The objects for which the company is proposed to be incorporated
C. The rules, regulations and bye-laws for the internal management of the company
D. The liability of the members of the company, whether limited or unlimited
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If a company fails to secure the minimum subscription, then it should :
A. Issue, within 30 days, a fresh prospectus to raise the amount by which it fell short during the first attempt
B. Issue a statement in lieu of prospectus, and raise the amount through private sources within a specified period
C. Return with interest the application money to the applicants within a stipulated period
D. Seek permission from the SEBI for reentering the capital market
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It is an integral part of Sales of Goods Act. It means 'let the buyer beware'. The term expressed below has Latin origins. What is the exact term for that?
A. Res ipsa loquitur
B. Res ipsa emptor
C. Caveat emptor
D. Caveat loquitur
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Chief Information Commissioner (CIC) shall be appointed for a term of . . . . . . . . years from date on which he enters upon his office or till he attains the age . . . . . . . . of years, whichever is earlier.
A. 6 years, 66 years
B. 5 years, 70 years
C. 5 years, 65 years
D. 5 years, 60 years
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Integrated Goods and Services Tax is applicable when:
A. Sold in Union territory
B. Sold from one GST dealer to another GST dealer
C. Sold within a state
D. There is interstate supply
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Under section 16 of the Negotiable Instrument Act, 'endorsement in blank' of an instrument means:
A. Where the endorser does not write anything on the instrument
B. Where the endorser only signs without writing any name on the instrument
C. Where the endorser writes the name of the person who is directed to pay
D. None of the above
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In any undertaking, the organization is established by the
A. Board of directors
B. Middle management
C. Lower management
D. Top management
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Company secretary is the custodian of:
A. Accounting records
B. Vouchers
C. Stock book register
D. Minutes of the meeting register
E. Pay roll register
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Constitution Amendment Bill for implementation of GST was . . . . . . . .
A. 101st
B. 100th
C. 121st
D. 122nd
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Which of the following statements is true?
A. ITC of CGST is first utilized for payment of CGST and the balance is utilized for payment of SGST/UTGST
B. ITC of SGST is first utilized for payment of SGST and the balance is utilized for payment of CGST
C. ITC of CGST is first utilized for payment of CGST and the balance is utilized for payment of IGST
D. All of the above
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A documents which contains the rules and regulations regarding internal management of a company is called
A. Memorandum of association
B. Prospectus
C. Article of Association
D. Incorporation certificate
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Which of the following is the odd one out?
A. Specific goods
B. Un-ascertained goods
C. Future goods
D. Ascertained goods
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Declaration of Dividend is an important item of the agenda of
A. Statutory Meeting
B. Annual General Meeting
C. Extraordinary General Meeting
D. Joint Meeting of the Shareholders and Debentureholders
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A sub-bailee is a person to whom the actual possession of goods is transferred by someone
A. Who is not himself not an owner of goods
B. Who has a present right to possession of them as bailee of the owner
C. Both A and B
D. None of the above
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The term of copyright for an author lasts how long?
A. The life of the author
B. The life of the author plus 60 years
C. 95 years
D. 75 years
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If a Minor draw, indorse, deliver and negotiate Negotiable Instruments, it binds:
A. Minor and the drawee
B. All the parties except minor
C. All the parties including minor
D. Minor only
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