Correct : B. Whole of India including Jammu & Kashmir
3. An agreement consists of reciprocal promises between at least
Correct : D. two parties.
4. Every promise and every set of promise forming the consideration for
each other is a/an
Correct : C. offer.
5. Contract is defined as an agreement enforceable by law, vide Section … of the Indian Contract Act.
Correct : C. Section 2(h)
6. Valid contracts
Correct : D. all of the above.
7. A contract creates
Correct : B. obligations of the parties to it.
8. In agreements of a purely domestic nature, the intention of the parties to create legal relationship is
Correct : A. to be proved to the satisfaction of the court.
9. ………………. is forbidden by law.
Correct : B. Illegal agreement
10. A makes a contract with B to beat his business competitor. This is an example of
Correct : B. illegal agreement.
11. Which of the following legal statement is incorrect?
Correct : B. All agreements are contracts [Section 10]
12. ……………… is made by words written.
Correct : A. Express contract
13. Agreement the meaning of which is uncertain is
Correct : A. Void
14. Which of the following relationship raise presumption of positive
influence?
Correct : D. All of the above
15. Which of the following is false with respect to minor entering a contract?
Correct : C. The contracts involving a minor as a beneficiary may be enforced at the option of the third party
16. Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are example of
Correct : B. implied contract.
17. …………….. is a one-sided contract in which only one party has to perform his promise or obligation.
Correct : C. Unilateral contract
18. All Contract is a/an ……………..
Correct : A. Offer
19. A/an …………… is every Promise and every set of promises, forming consideration for each other
Correct : A. Offer
20. Every agreement and promise enforceable by law is …………….
Correct : B. Contract
21. “A Contract is an agreement creating and defining obligations between the parties” the definition was put forwarded by
Correct : C. Salmonds
22. The Law of Contract is nothing but ...............
Correct : A. A Child of Commercial dealing
23. To form a valid contract, there should be atleast .............
Correct : A. Two parties
24. Contractual rights and duties are created by ...............
Correct : C. Parties
25. Agreement is defined by the section ............... of the Indian Contract Act, 1872.
Correct : B. Section 2(e)
26. Which of the following labour legislations is implemented only by the Central Implementation Machinery?
Correct : D. Employees’ State Insurance Act
27. Under Section 2(12) the Act is applicable to non-seasonal factories employing---------- persons
Correct : A. 10 or more
28. Employees’ Deposit Linked Insurance Scheme was introduced in the
year
Correct : A. 1976
29. The Payment of Gratuity Act was introduced in the year
Correct : C. 1972
30. The Maternity Benefit Act was introduced in the year
Correct : A. 1961
31. Which of the following benefits is covered under social security schemes?
Correct : D. All of the above
32. Making peace with employees by fulfilling all their needs without any resistance is the essence of the
Correct : A. Appeasement theory
33. The age of dependent for obtaining dependent’s benefit under the Employees State Insurance Act has now been enhanced from 18 years to
Correct : D. 25 years
34. Employees who are getting a daily average wages up to ________ are exempted from contributing employees’ share of ESI contribution.
Correct : C. Rs 100
35. The employer’s share of contribution under the ESI Act is
Correct : D. 4.75%
36. As per the latest amendment under the ESI Act, 1948 medical treatment is now available to persons under voluntary retirement scheme also.
Correct : A. True
37. Which of the following legislations in India is governed by a tripartite organisation consisting of representatives of labour, management and Government?
Correct : C. ESI Act
38. What is the wage limit for employees to be covered under the Employee State Insurance Act as per the latest amendment?
Correct : C. Rs. 15,000 per month
39. Employees’ share of contribution under the ESI Act is
Correct : A. 1.75 %
40. Which of the following legislations extends some sort of benefit to retired employees also?
Correct : A. Employees’ State Insurance Act
41. PF act is applicable to an establishment engaged in any industry specified in ……...
Correct : D. Schedule I
42. Minimum ……….. Persons must be employed in as establishment
for the applicability of the PF act.
Correct : B. 20
43. The term “Appropriate Government” is defined in which section of the PF Act?
Correct : A. Section 2(a)
44. According to Section 2(a) which is the appropriate Government for a mine in a given state?
Correct : B. Central Government
45. Section 2(aa) of the PF act defines the term ……………
Correct : B. Authorised Officer
46. Deputy Provident Fund Commissioner is an authorised officer.
Correct : A. True
47. The term “Basic Wages” is defined in which section of the Provident Fund Act?
Correct : C. Section 2(b)
48. Bonus is part of Basic Wages as defined in the respective section in the PF Act.
Correct : B. False
49. Section 2(d) of the Provident Fund Act defines ………
Correct : D. Controlled Industry
50. The chairman and members of Central Board constituted under Employees Provident Fund are appointed by
Correct : C. Central Government
51. The contribution which shall be paid by the employer to the Fund
shall be
Correct : C. 12%
52. An employer who contravenes or makes default in complying with the provisions of section 6 of this act, shall be punishable with imprisonment for a term which may extend to _____ years
Correct : C. 3
53. This Act shall not apply to any establishment registered under the Co-operative Societies Act, 1912 (2 of 1912), employing less than ------- persons and working without the aid of power
Correct : C. 50
54. No court inferior to that of ......................class shall try any offence under this Act
Correct : B. Presidency Magistrate or a Magistrate of the first class
55. Under this act, “Insurance Fund” means ……………
Correct : C. Deposit Linked Insurance Scheme
56. The Central Government has amended the ceiling for contributions under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (EPF Act) and the Employees' Provident Fund and Miscellaneous Provisions Scheme, 1952 (EPF Scheme) from __________ to __________, with effect from 1 September 2014.
Correct : B. Rs. 6500/- to Rs.15000/-
57. GST was introduced in India with effect from
Correct : D. 1.7.2017
58. GST was introduced in Jammu and Kashmir with effect from
Correct : D. 8.7.2017
59. Constitution Amendment Act, 2016 for GST was
Correct : B. 101st
60. As a result of constitution amendment for GST a Separate List --- has been inserted in the constitution.
Correct : A. Article 246A
61. The incidence of tax on tax is called
Correct : A. Tax Cascading
62. Under GST, ‘value addition’ refers to
Correct : A. Expenses ‘plus’ profit
63. UTGST is applicable when
Correct : A. Sold from Union territory
64. Integrated Goods and Services Tax is applicable when -
Correct : D. There is interstate supply
65. SGST is applicable when
Correct : A. Goods are sold within a state
66. The tax which was not merged into GST
Correct : C. Basic Customs Duty
67. Condition is a stipulation which is
Correct : A. Essential to the main purpose of contract
68. The sale of goods Act deals only with goods which are ______________ in nature
Correct : B. Movable
69. Goods that are identified at the time of contract of sale is called _______________ goods
Correct : D. both a & b
70. _________________ is a Stipulation which is Collateral to purpose
of contract
Correct : B. Warranty
71. __________________________ is the concept of “LET THE BUYER BEWARE”.
Correct : C. Caveat Emptor
72. ___________________ and _______________ are the two parties involved in Contract of sale
Correct : A. Seller & Buyer
73. It is a standard rule that risk follows ____________________
Correct : C. property
74. The sale of Goods Act enforces in the year
Correct : B. 1930
75. The subject matter of the contract under Sale of goods Act must be
Correct : B. Goods
76. Sale under Sale of goods Act is a/an ____________________ contract
Correct : C. Executed
77. In sale the transfer of property in goods from the seller to the buyer takes place
Correct : D. Both a&b
78. In Agreement to sell the transfer of property in goods from the seller to the buyer takes place
Correct : C. In a future Date
79. Which of the following is not a subject matter in a Sale of goods Act
Correct : C. Money
80. As per Sale of goods Act Movable goods does not include
Correct : D. Money
81. The goods must be ________ goods for transferring the property in the goods
Correct : A. Ascertained
82. The subject matter of the contract must necessarily be _____________
Correct : A. Sale
83. A consideration in contract of sale must be ______________ only
Correct : C. price
84. Transfer or agree to transfer the _____________ of the goods is the
purpose of sale of goods Act