1. Amit tells Bharat in the presence of Chetan that Amit is agent of Chetan. Chetan maintain silence instead of denying it. Later, if Amit sells Chetan's goods to Bharat, Chetan cannot dispute Bharat's title to the goods. This is example of
Correct : C. Sale by estoppel
2. If a minor draws, endorses, delivers or negotiates an instrument, such instrument binds
Correct : C. all parties to the instrument except the minor
3. In a partnership firm, the decision can be made by rule of majority when decisions
relate to
Correct : B. ordinary routine matters
4. Power to exempt any LLP or class of LLP for audits of accounts is with
Correct : B. Central Government
5. Every inspector appointed under the Factories Act or Payment of Wages Act is
deemed to be a
Correct : D. A Public Servant
6. No fine can be imposed on any employed person who is under the age of
Correct : C. 15
7. In case of employee covered under the ESI, the accident report shall be sent in _______ to local office of the ESI to which the company is attached.
Correct : D. Form No. 16
8. The first case 'doctrine of frustration' as decided by the Supreme Court of India is
Correct : D. Satyabrata Ghosh Vs. Mugneeram
9. Application for Director Identification Number (DIN) is to be made to Central Govt. in
Form
Correct : A. DIN-1
10. Business ethics is based on well accepted
Correct : A. Moral and Social Values
11. Out of seven principles of public life, the principle of objectivity means
Correct : B. in carrying out public business including making public appointments, holders of public office should make choices on merit.
12. Who is responsible for ethical behavior?
Correct : B. The Psychologist
13. The three C’s of business ethics are
Correct : B. Compliance, Contribution and Consequences
14. Cash is withdrawn by a customer of a bank from the automatic teller machine is an example of
Correct : C. Tacit Contract
15. Which of the following is not implied condition under The Sale of Goods Act, 1930?
Correct : B. Sale by discount price
16. Occupier of every factory shall provide and maintain suitable room or rooms for the use of the children under the age of six years of women workers where the number of such women workers exceed
Correct : C. 30
17. Examine as to which of the following payments form part of "salary" under the provisions of the Payment of Bonus Act, 1965.
Correct : C. Dearness allowance
18. Under Payment of wages Act, 1963, in any factory, in which 1200 persons are employed, wages must be paid
Correct : B. before the expiry of 10th day of the following month
19. The Employees Provident Funds Act, 1952 is applicable to every establishment mentioned in schedule 1 and employed
Correct : C. 20 or more persons
20. The employer's and employee's share of contribution of ESI fund is
Correct : B. 4.75% and 1.75% of wages respectively
21. A Formal notarial certificate attesting the dishonour of a bill or note is called
Correct : B. Protest
22. Public notice is not required when there is
Correct : A. admission of new partner
23. The board of directors may appoint additional directors from time to time if so
authorized by
Correct : A. Articles of Association
24. Business ethics are gaining importance because of
Correct : C. the growth of consumer movement
25. Which of the following statement is correct about business ethics?
Correct : C. A business may sustain only if it cares for society
26. Holders of public office should take decision solely in terms of the public interest. This principle of public life is called
Correct : D. Selflessness
27. To resolve the Ethical Conflict, following should not be considered.
Correct : C. Arms Length
28. Which one of the following is not a quasi contract?
Correct : C. Uncertainty and futurity of the event to which it is related
29. Which one of the following is the subject matter of the contract?
Correct : D. Any of the above.
30. One of the following is not a negotiable instrument. Identify the same.
Correct : A. Share certificate
31. Who can take active part in the management of the firm?
Correct : C. Working partner
32. A new partner can be introduced as a partner into a firm-
Correct : C. With the consent of all existing partners
33. Shelter rooms with suitable lunch rooms are to be provided, if more than ______ workers are employed.
Correct : B. 150
34. Gratuity is payable to an employee ______________.
Correct : D. In all the above cases.
35. Contribution of the employer to employees’ pension scheme is-
Correct : A. 8.33%
36. Who, among the following, is not the Principal Employer?
Correct : D. Legal representative of the contractor.
37. The time limit for making bonus payment is-
Correct : D. Within a period of eight months from the close of the accounting year.
38. Review of minimum wages is to be done at such interval not exceeding-
Correct : B. 5 years
39. The wages of employed persons in an establishment where less than 1000 persons are employed, shall be paid before-
Correct : A. 7th day
40. In case of unlisted company the duplicate share certificate shall be issued within a
period of-
Correct : B. 3 months
41. Which one of the following is not a contract?
Correct : B. A promises, for no consideration, to give `10,000/-
42. Holder in due course means any person-
Correct : B. Who for consideration became the possession of a promissory note
43. Intimation of the reconstitution of change in a registered partnership is to be given to
the Registrar of firms-
Correct : A. No time limit
44. A firm shall not contain any name-
Correct : D. All of the above
45. The fee payable for registration of LLP whose contribution exceeds `10 lakhs is
Correct : D. ` 5000/-
46. The gratuity is payable to an employee shall not exceed-
Correct : C. 20 months pay
47. Withdrawal from PF may be allowed for –
Correct : C. For the purchase of a dwelling place
48. ESI Corporation is a-
Correct : C. Body Corporate
49. Who is not eligible to get bonus?
Correct : B. A dismissed employee
50. The appropriate government may fix minimum rate of wages for-
Correct : D. All the above.
51. The payment of wages Act applies to wages payable to an employed person in respect of wage period if such wages for that wage period do not exceed _____ per month.
Correct : C. ` 18,000/-
52. The quorum for a public company having the number of members more than 5000 is-
Correct : D. 30
53. In the case of an adjourned meeting the company shall give not less than _____
notice to the members.
Correct : B. 3 days
54. Ethics is a set of _________ of human conduct that govern the behavior of individuals
or organizations.
Correct : C. Principles or standards
55. The society for Business Ethics was started in
Correct : D. 1980
56. The Payment of Bonus Act 1965 extends to:
Correct : A. The whole of India
57. The minimum ceiling on gratuity as per the Payment of Gratuity Act, 1972 is:
Correct : B. ` 10 lakhs
58. The ESI Act, 1948 provides certain benefits to the employees in case of ________
Correct : D. All the three
59. A monthly return of contribution in the prescribed form 6 is required to be filed with the Commissioner within ……… days of the close of the month as per Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.
Correct : C. 25
60. ____________ is not a negotiable instrument as per customs and usage.
Correct : C. Cheque
61. The minimum paid-up capital for a Public company is:
Correct : D. None of the above
62. If the agreement is made by obtaining consent by doing an act forbidden by the Indian Penal Code, the agreement would be caused by:
Correct : A. Coercion
63. Hundi’s are Indigenous instrument written in ____________ language
Correct : A. Vernacular
64. "If you contract to sell peas, you cannot oblige a party to have beans" - This
statement applies to:
Correct : A. an implied condition as to be description of goods
65. Who is an Adolescent as per Factories Act, 1948?
Correct : C. Who has completed 15 years but less than 18 years
66. Which of these is not a negotiable instrument as per the Negotiable Instrument Act,
1881?
Correct : D. Share Certificate
67. A person may not become an agent if ______________
Correct : D. None of the above
68. In absence of a contract to the contrary, an agent is entitled to retain __________________ of the principal until amount due for commission is not received by him.
Correct : D. All of the above
69. Section 122 of Companies Act, 2013 provides that which of the following provisions
are not applicable to an OPC
Correct : D. All of the above
70. A company in which either of the Government has no paid-up share capital is called
as a _________________ company
Correct : A. Non-Government
71. Section 7(4) of Companies Act, 2013 provides that the company shall maintain and preserve copies of all documents and information as originally filed with the registrar till it’s ______________ under this Act.
Correct : C. Dissolution
72. ______________ are the principles of Business Ethics.
Correct : D. All of the above
73. In case of contractual obligations where the promisor dies before performance:
Correct : D. The legal representatives are not liable to pay damages for nonperformance of the promise.
74. An anticipatory repudiation has the effect of:
Correct : B. Putting an end to the contract only on acceptance of the repudiation by the other party
75. In pretended bidding, sale is _______________.
Correct : B. Sale is voidable at the option of the buyer
76. According to Minimum Wages Act, 1948 wage slip shall be issued by every employer
to his employees
Correct : A. One day prior to disbursement of wages
77. All monies received on application shall be kept in a separate bank account in a ______ bank.
Correct : B. Scheduled
78. Where a company issues shares with differential right, the _____ should be maintained
under Section 88 of Companies Act, 2013.
Correct : C. Register of Members
79. Rule 34 provides that where the Tribunal has made winding up order of a LLP, the liquidator shall submit a report containing which of the following particulars:
Correct : D. All of the above
80. Every member of a company listed by shares and holding equity share capital shall have the right to _____________ on every _____________ placed before the company.
Correct : A. vote; resolution
81. When a professional promotes a position or opinion to such extent that some
objectivity may have to be compromised, this threat is known as
Correct : C. Advocacy threat
82. The ________ of the company shall contain the regulations for management of the company.
Correct : A. Articles
83. The supervisory board under the German Model is known as
Correct : A. Aufsichtsrat
84. An audit committee has four fold relationship and therefore has to interact with management, internal auditor, public and
Correct : B. Statutory auditor
85. Which of the following is a method of discharge from liability?
Correct : C. By cancellation
86. Gratuity is payable to an employee after he has rendered continuous service for not less than five years on his
Correct : D. resignation
87. Who will not be considered as an employee?
Correct : C. Partners
88. "Individual pension account" means an account of subscriber, executed by a
contract setting out the terms and conditions under the
Correct : B. National pension system
89. Which of the following is not a category of company?
Correct : B. Assistant company
90. Section 92 of the Companies Act, 2013 requires a company to prepare and file
annual return in form no.
Correct : C. MGT-7
91. The main feature of e-contract is
Correct : C. Speed, accurate and reliable
92. Which of the following is not an unpaid seller's right against the goods?
Correct : C. The right of seeking claim for damage
93. Where the endorser does not want that the endorsee or any other holder to incur any
expense on his account is called
Correct : B. Sans frais endorsement
94. The liability of the partners will continue for the acts done before the dissolution, even after the dissolution, until
Correct : A. Public notice is given of the dissolution
95. Every employee shall be entitled to receive bonus from his employer in an
accounting year if he has worked for not less than
Correct : C. Thirty working days
96. Under Employee's State Insurance Act, 1948, the term of the office of the members of
Medical Benefit Council shall be
Correct : B. 4 Years
97. Which one cannot be transacted through postal ballot?
Correct : A. Appointment of auditor
98. The appointment of an independent director shall be approved by the
Correct : B. General meeting
99. The sweat equity shares shall be locked in for a period of __________ years from the
date of allotment.
Correct : C. Three
100. The following is the disadvantage of business ethics: