First Board of Directors is appointed by:
A. Shareholders
B. Central Government
C. Registrar of Companies
D. Promoters
Select an option to see the answer and solution.
What does a trademark protect?
A. An invention
B. A work of art
C. Logos, names and brands
D. The look, shape, and feel of a product
Select an option to see the answer and solution.
Which of the following are the functions of a promoter?
A. Decides name of a company
B. Nomination of directors
C. Settles the details of memorandum and articles
D. All of these
Select an option to see the answer and solution.
Match the following.
List-I (Form)
List-II (Explanation)
a. Form 1
1. Clarification about incorporation document
b. Form 3
2. Application for reservation of name
c. Form 3
3. LLP agreement
A. a-1, b-3, c-2
B. a-2, b-3, c-1
C. a-2, b-1, c-3
D. a-1, b-2, c-3
Select an option to see the answer and solution.
Under GST law SAC refers to:
A. Systematic Accounting Code
B. Service Accounting Code
C. System Administration Code
D. Scientific Accounting Code
Select an option to see the answer and solution.
According to Sale of Goods Act which two of the following are defined as 'goods'?
1. Moveable property
2. Growing crops
3. Actionable claims
4. Book debt
Choose the correct answer from the following options:
A. 1 and 4
B. 2 and 3
C. 1 and 2
D. 2 and 4
Select an option to see the answer and solution.
Under which section of IT Act, 2000, the following punishment is mentioned?
'3 years of imprisonment and/or 5 lakh rupees penalty for first conviction and 5 years of imprisonment and/or 10 lakh rupees penalty for second conviction'
A. Section 67
B. Section 65
C. Section 66
D. Section 64
Select an option to see the answer and solution.
In which of the following cases, a contract is discharged on the ground of frustration or subsequent impossibility?
A. Outbreak of war
B. Change of law or government policy
C. Both A and B
D. None of the above
Select an option to see the answer and solution.
A season article marked "price Rs. 50" in Neha's shop, Sonal offers Neha Rs. 50 for the article. Neha refuses to sell saying the article is not for sale. Advice Sonal.
A. Sonal cannot force Neha to sell the article at Rs. 50
B. Sonal can force Neha to sell the article at Rs. 50
C. Sonal can claim damages
D. Sonal can sue Neha in the court
Select an option to see the answer and solution.
Which of the following statements is not true:
A. The first auditors of a company must be appointed within one month after the registration of the company
B. If no auditor is appointed at the Annual General Meeting of the company, the Central Government must be so informed within 15 days
C. A corporate body cannot be appointed an auditor of the company
D. The auditor is an agent of shareholders
Select an option to see the answer and solution.
Which one of the following statement is not correct?
A. A private company is not required to prepare a Statutory Report
B. Sharing of profit is a prima facie, but not conclusive, evidence of partnership
C. The maximum number of members in a private company can be 50
D. The minimum number of members in a private company should not be less than 7
Select an option to see the answer and solution.
In most countries, how long does copyright last for:
A. 10 years after the creation of the work
B. 50 years after the creation of the work
C. 10 years after the death of the person who created that work
D. 50 years after the death of the person who created that work
Select an option to see the answer and solution.
A first appeal against the decision of a PIO can be preferred by
A. an applicant
B. a person from within the public authority
C. a person outside the public authority to whom the information pertains
D. All of the above
Select an option to see the answer and solution.
Arrange the steps of incorporation of an LLP in sequence:
1. Application for DPIN
2. Filing of LLP agreement
3. Application for DSC
4. Incorporation of LLP
A. 1, 3, 2, 4
B. 3, 1, 4, 2
C. 2, 1, 3, 4
D. 1, 2, 3, 4
Select an option to see the answer and solution.
Which of the following section of Negotiable Instrument Act defines cheque?
A. Section 4
B. Section 5
C. Section 6
D. Section 7
Select an option to see the answer and solution.
When buyer pays some part of the price of goods to the seller, the seller is called
A. unpaid seller
B. partly paid-up seller
C. short paid seller
D. None of these
Select an option to see the answer and solution.
What is the duration of a trademark registration as defined by Trademarks Act, 1999?
A. 2 years
B. 5 years
C. 10 years
D. Depends on the commercial value of infringement
Select an option to see the answer and solution.
Which combination of the following represents the assumptions of the Walter's dividend model?
I. The company has a very long or perpetual life.
II. All earnings are either reinvested internally or distributed as dividend.
III. There is no floatation cost for the company.
IV. Cost of capital of the company is constant.
A. I, II, III
B. II, III, IV
C. I, II, IV
D. I, III, IV
Select an option to see the answer and solution.
Where in a contract of sale the seller purports to effect the present sale of the future goods, the contract operates as:
A. a contract of sale
B. an agreement to sell the goods
C. a contact of sale or agreement to sell
D. it is not a valid contract
Select an option to see the answer and solution.
After introduction of GST, supplies to SEZ are:
A. Subject to IGST
B. Subject to CGST plus SGST
C. Zero rated
D. SGST plus CGST plus IGST
Select an option to see the answer and solution.