Legal aspects of business

Important Practice MCQs

Q.1- Which of the following is not an implied condition in a contract of sale?

1. Condition as to quality or fitness

2. Condition as to merchantable quality
3. Condition as to wholesomeness
4. Condition as to free from encumbrances

Q.2- Which of the following does not come under the definition of "Information" under the RTI Act,
2005?

1. Log Books
2. Circulars
3. File Notings in the process
4. Data material held in any electronic form

Q.3- Under which section of the Information Technology Act of 2000, updated in 2008, stealing
any digital asset or information is considered a cybercrime?

1. 65
2. 65-D
3. 67
4. 70

Q.4- Out of the following, which are not the features of GST 2017 in India.

(A) GST applies to the supply of Goods and Services.

(B) GST is based on the principle of origin-based taxation rather than the principle of destination-
based consumption.

(C) Import of Goods is treated as Inter-State supplies and would be subject to IGST in addition to
applicable Custom Duties.

(D) It is a dual taxation with the Centre and State simultaneously levying it on a common base.

By – Dr. Vikas Abhishek & Jyoti Tandon

(E) GST applies to all Goods and Services without any exemptions.

Choose the correct answer from the options given below :

1. (A), (B), (E) only

2. (B), (C), (E) only
3. (B), (E) only
4. (C), (D), (E) only

Q.5- Which one is False as per the relevant provisions of the Indian Contract Act, of 1872?

1. A void agreement is not enforceable by law

2. Assignment is the obvious mode of discharge of a contract
3. Where a party waives its rights under the contract, the other party is released of its
obligations under the contract
4. Where the subject matter of a contract is destroyed for no fault of the promisor, the contract
does not become void by the impossibility of performance

Q.6- Which one is the correct sequence implied in the Indian Contract Act 1872?

(A) Offer of proposal

(B) Contract

(C) Promise

(D) Agreement

(E) Acceptance

Choose the correct answer from the options given below :

1. (C), (E), (A), (D), (B)

2. (D), (B), (C), (A), (E)
3. (B), (D), (C), (E), (A)
4. (A), (E), (C), (D), (B)

Q.7- Match List I with List II

By – Dr. Vikas Abhishek & Jyoti Tandon

 List I List II

(A) Limited Liability (I) It can be formed with a minimum of

Partnership two

individuals or body corporate through

their nominees.

(B) Particular (II) It is formed for a specific venture or

Partnership for a particular period.

(C) Partnership (III) It is an association of two more

individuals.

(D) Mutual Agency (IV) A partner is both an agent and a

principal in a partnership firm.

Choose the correct answer from the options given below :

1. (A)-(I), (B)-(II), (C)-(III), (D)-(IV)

2. (A)-(II), (B)-(III), (C)-(I), (D)-(IV)
3. (A)-(II), (B)-(I), (C)-(III), (D)-(IV)
4. (A)-(IV), (B)-(II), (C)-(I), (D)-(III)

Q.8- Out of the following statements, which are not correct about the RTI Act. 2005?

(A) The RTI Act came into force on October 13, 2005.

(B) Any citizen may request information from a Public Authority (Both Govt. and Private).

(C) Reply for information asked can be given within 30 days.

(D) There is a nominal application fee that are need to pay to get information under the RTI
application.

By – Dr. Vikas Abhishek & Jyoti Tandon

(E) To get information, the applicant has to pay Rs. 10/- per page of information for Central Govt.
Departments.

Choose the correct answer from the options given below :

1. (A), (B), (E) only

2. (B), (E) only
3. (C), (E) only
4. (B), (C), (D), (E) only

Q.9- Given below are two statements: One is labeled as Assertion (A) and the other is labeled as
Reason (R).

Assertion (A): Trade mark registration gives exclusive proprietary rights to the trademark owner.

Reason (R): A trademark is a recognizable sign, design or expression that identifies products or
services of a particular source from those of others, and is used to claim exclusive proprietary
rights of products or services.

In the light of the above statements, choose the cube answer from the options given below:

1. Both (A) and (R) are true and (R) is the correct explanation of (A)
2. Both (A) and (R) are true but (R) is NOT the correct explanation of (A)
3. (A) is true but (R) is false
4. (A) is false but (R) is true

Q.10- Which of the following are true of the Goods and Services Tax (GST) introduced in India in
recent times?

(A) It is a destination tax

(B) It benefits producing states more

(C) It benefits consuming states more

(D) It is a progressive taxation

(E) It is an umbrella tax to improve the ease of doing business

Choose the most appropriate answer from the options given below:

1. B, D and E only
2. A, C and D only

By – Dr. Vikas Abhishek & Jyoti Tandon

 3. A, D and E only
4. A, C and E only

Q.11- Intellectual Property Rights (IPRs) protect the use of information and ideas that are of

1. Social value
2. Moral value
3. Commercial value
4. Ethical value

Q.12- What is the correct sequence of distribution of the amount realized under section 154 of
CGST rules?

(A) Appropriated against the administrative cost of the recovery process.

(B) Appropriated against any other amount due from the defaulter under the Act or IGST Act,
2017.

(C) Appropriated against the amount due to be recovered from the defaulter.

(D) Balance amount, if any shall be refunded to the defaulter

1. A, B, D, C
2. A, C, B, D
3. C, A, B, D
4. C, B, A, D

Q.13- Match the items of List I with the items of List Il and choose the correct code of combination:

List I List Il

A. Indian Contract Act I. 2002

B. Right to Information II. 1872

Act

By – Dr. Vikas Abhishek & Jyoti Tandon

 C. Information III. 2005
Technology Act

D. Competition Act IV. 2000

1. A-I, B-II, C-III, D-IV

2. A-II, B-IV, C-I, D-III
3. A-IlI, B-IV, C-II, D-I
4. A-II, B-III, C-IV, D-I

Q.14- The meaning of unpaid seller is

1. The person who has not paid the price

2. The person who has sold the goods and received the price
3. The person who has sold the goods and has not yet received the price
4. The person who has not sold the goods

Q.15- Statement I: Contracts whose objects or considerations are unlawful are void.

Statement Il: Contracts in restraint of legal proceedings are void.

Code :

1. Both Statements are correct

2. Both Statements are incorrect
3. Statement I is correct but Il is incorrect
4. Statement I is incorrect but Il is correct

Q.16- Arrange the following stages of formation of companies in a proper sequence :

(A) Promotion stage

(B) Raising of share capital stage

(C) Incorporation stage

(D) Commencement stage

By – Dr. Vikas Abhishek & Jyoti Tandon

(E) Selection of name

Choose the correct answer from the options given below:

1. (C), (A), (E), (D), (B)

2. (B), (E), (A), (C), (D)
3. (A), (E), (C), (B), D)
4. (D), (A), (B), (C), (E)

Q.17- Which of the following statements is false? Indicate the correct code.

(A) No company has to file any prescribed declaration before the commencement of business.

(B) A company can ratify the contract entered into by the promoters with third parties on behalf of
the company before its formation.

(C) The date mentioned in the certificate for commencement of business is taken as the date of
birth of a public company

(D) A private company has to file a "Settlement instead of prospectus" with the registrar.

Choose the correct answer from the options given below :

1. A, B and D only
2. A and B only
3. B, C and D only
4. C and D only

Q.18- Match List I with List II :

List I List II

(A) Ordinary damages (I) Never granted by way of

compensation for the loss

By – Dr. Vikas Abhishek & Jyoti Tandon

 (B) Special damages (Il) They are quite heavy in
amount and are awarded by
way of punishment only

(C) Exemplary damages (III) Arise in the ordinary

course of events from the
breach of contract

(D) Nominal damages (IV) The constitute indirect

loss suffered by the
aggrieved party on account
of breach of contract.

Choose the correct answer from the options given below:

1. (A) - (III), (B) - (IV), (C) - (II), (D) - (I)

2. (A) - (IV), (B) - (IIl), (C) - (II), (D) - (I)
3. (A) - (I), (B) - (II), (C) - (IV), (D) - (III)
4. (A) - (II), (B) - (I), (C) - (III), (D) - (IV)

Q.19- A claim for 'quantum meruit cannot succeed:

1. When a divisible contract is partly performed.

2. When an indivisible contract for a lump sum is partly performed.
3. When a contract is discovered to be unenforceable due to some technical defect.
4. In the case of breach of contract, the aggrieved party can claim reasonable compensation
for what he has done under the contract.

Q.20- Which one of the following statements is a promissory note?

1. I promise to pay Q Rs.7,000, 7 days after my marriage.

2. On-demand, I promise to pay B or bearer Rs. 5.000
3. I promise to pay Rs. 5,000 on C's death provided C leaves with me enough money to pay
that sum.
4. I acknowledge to be indebted to you for Rs. 10,000 to be paid on demand for value
received.

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.21- Which of the following are not the objectives of the Competition Act, of 2002?

(A) Ensure freedom of trade for other participants in incidental and connected markets.

(B) Provide a reasonable level of reliability and connect operation.

(C) Adhere to generally accepted security procedures.

(D) Protect the interests of consumers.

Choose the correct answer from the options given below :

1. A, C, D only
2. B, C, D only
3. A, C only
4. B, C only

Q.22- Arrange the following procedure for the grant of patent in a proper sequence :

(A) The true and first owner shall apply in Form I and the legal representative of the true owner
shall apply in Form II

(B) A complete specification shall be filed with a fee of Rs. 50/- within 12 months from the date of
filing of the application

(C) The first inventor of the work who claims to be true and the first owner or his legal
representative

(D) For each invention separate application for a patent shall be made

Choose the correct answer from the options given below:

1. (A), (D), (C), (B)

2. (C), (D), (A), (B)
3. (B), (A), (D), (C)
4. (B), (D), (C), (A)

Q.23- Match List I with List II :

By – Dr. Vikas Abhishek & Jyoti Tandon

 List I List II

(A) Actual Delivery (I) Delivery of means of

obtaining possession of goods
by the seller to the buyer

(B) Constructive Delivery (II) Physical handing over of the

possession of the goods by the
seller to the buyer

(C) Symbolic Delivery (III) Voluntary transfer of

possession of goods from seller
to buyer

(D) Delivery (IV) Acknowledgement by a

third person in possession of
goods to hold them on behalf of
and at the disposal of the
buyers.

Choose the correct answer from the options given below:

1. (A) - (IV), (B) - (I), (C) - (III), (D) - (Il)

2. (A) - (II), (B) (IV), (C) - (I), (D) - (III)
3. (A) - (I), (B) - (III), (C) - (IV), (D) - (II)
4. (A) - (III), (B) - (II), (C) - (IV), (D) - (I)

Q.24- The amount of penalty for making a false statement to the "Competition Commission" by a
person who is a party to a combination shall be between

1. 20 lakhs to 50 lakhs
2. 50 lakhs to 1 crore
3. 8 lakhs to 10 lakhs
4. 70 lakhs to 1 crore

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.25- Which among the following essences of the information technology act is not a correct
statement?

1. Legal Recognition of Electronic Documents

2. Any contract for the sale or conveyance of immovable property or any Interest in such
3. Legal Recognition of Digital signatures
4. Justice Dispensation system for cyber crimes

Q.26- Which of the following are included in person under section 17(1)?

(A) A Hindu Undivided Family (HUF)

(B) A company

(C) A firm

(D) An individual

(E) A local authority

(F) An association of persons

Choose the most appropriate answer from the options given below:

1. (A), (C), (D), (F) only

2. (C), (D), (E), (F) only
3. (B), (D), (E), (F) only
4. (A), (B), (C), (D), (E) and (F)

Q.27- Which of the following taxes have been replaced by the GST? Indicate the correct code :

(A) Central Excise duty

(B) Service tax

(C) Taxes on advertisements

(D) Duties of Excise-Medicinal and toilet preparations

Choose the correct answer from the options given below:

1. (A), (B), (D) only

2. (A), (B) only
3. (B), (C), (D) only

By – Dr. Vikas Abhishek & Jyoti Tandon

 4. All of the above

Q.28- 'A' Minor takes a loan of Rs.4,000/- from 'B' during his minority, on attaining majority, he
applies to 'B' for a further loan of Rs. 3,000/- B' gives this loan and obtains from 'A' a combined
promissory note of Rs. 7,000/- for the two loans. This is considered as:

1. Void Contract
2. Valid Contract
3. Illegal Contract
4. Unilateral Contract

Q.29- Which of the following statements are true regarding the objectives of the Right to
Information Act? Indicate the correct code :

(A) To operationalise the fundamental right to information

(B) To set up systems and mechanisms that facilitate people's easy access to information

(C) To promote transparency and accountability in governance

(D) To minimize corruption and inefficiency in public offices and ensure people's participation in
governance and decision-making

Choose the correct answer from the options given below:

1. (B), (C) and (D) only

2. (A), (B), (C) and (D) all
3. (A), (B), and (C) only
4. (A), (B) and (D) only

Q.30- Which one of the following State Taxes has NOT been replaced by GST?

1. Luxury Tax
2. Purchase Tax
3. Special additional duty of customs
4. Taxes on lotteries, betting, and gambling

Q.31- In which of the following cases, the Doctrine of Supervening impossibility will apply?

By – Dr. Vikas Abhishek & Jyoti Tandon

 1. Commercial Impossibility
2. Difficulty in performance
3. Impossibility known to the parties at the time of making the contract
4. Strikes, Locks-outs, and civil disturbances

Q.32- Match List I with List II relating to The Sale of Goods Act

List I List II

A. Actionable claim 1. Goods to be manufactured

after the making of the contract

B. Appropriation of goods II. Goods owned by the seller at

the time of the making of the
contract of sale

C. Existing goods III. Separating the goods sold

from other goods so as to
determine and identify the actual
goods to be delivered

D. Future goods IV. Recovered only by means of

a suit or an action in a court of
law

Choose the correct answer from the options given below:

1. A - I, B - II, C - III, D - IV
2. A - II, B - IV, C - I, D - III
3. A - III, B - I, C - IV, D- II
4. A - IV, B - III, C - II, D - I

Q.33- Arrange the sequence, of steps in the procedure for calling a statutory meeting of the
company

By – Dr. Vikas Abhishek & Jyoti Tandon

A. Contents of the statutory report

B. A list of members must be produced at the commencement

C. Twenty-one days' notice

D. Certification of the statutory report by not less than two directors, one of whom must be the
managing director

E. A certified copy of the statutory report must be delivered to the Registrar

Choose the correct answer from the options given below:

1. A, D, E, B, C,
2. B, E, C, A, D
3. C, A, D, E, B
4. D, C, B, A, E

Q.34- Which of the following are the objectives of the Competition Act, of 2002?

A. To prevent practices from hurting competition

B. To impede and torment competition in the market

C. To protect the interests of sellers

D. To ensure freedom of trade carried on by other participants in markets

Choose the correct answer from the options given below:

1. A and D only
2. A, B and C only
3. A, B and D only
4. B, C and D only

Q.35- Given below are two statements:

Statement I: patents are defined as monopoly rights which one granted by the government, for
full disclosure of invention for a limited period, that is 20 years

Statement II: The purpose of granting patents is to encourage inventions by promoting their
protection and utilisation to contribute to the development of Industries

By – Dr. Vikas Abhishek & Jyoti Tandon

In light of the above statements, choose the most appropriate answer from the options given
below:

1. Both Statement I and Statement ll are correct

2. Statement I and Statement Il are incorrect
3. Statement I is incorrect but Statement Il is correct
4. Statement I is correct but Statement Il is incorrect

Q.36- Which one of the following is NOT true regarding input tax credit to avoid cascading effect?

1. Input Tax credit of CGST can be utilized for payment of CGST first and balance for
payment of IGST on outward supply
2. Input Tax credit of SGST/UTGST can be utilized for payment of CGST
3. Input Tax credit of UTGST can be utilized for payment of UTGST first and balance for
payment of IGST on outward supply
4. Input Tax credits of SGST can be utilized for payment of SGST first and balance for
payment of IGST on outward supply

Q.37- Which of the following statements are TRUE in a contractual capacity?

A. Law presumes that every person is competent to contract unless otherwise proved

B. That a minor can make a contract for necessities of life

C. That a person of unsound mind can enter into the family contracts

D. A convict cannot enter into a valid contract nor can sue

E. That a wife can always make valid business contracts and bind her husband

Choose the correct answer from the options given below:

1. A and E only
2. A, C and E only
3. B and D only
4. B, D and E only

Q.38- Which one of the following conditions does not constitute a valid agency by necessity?

1. There should have been actual and definite commercial necessity for the agent to act
promptly.

By – Dr. Vikas Abhishek & Jyoti Tandon

 2. The agent should have acted bonafide and for the benefit of the principal.
3. The agent should have adopted the most reasonable and practicable course under the
circumstances.
4. Destruction of the subject matter of the contract of agency.

Q.39- The first offense for infringement of copyright can be for a maximum of imprisonment for a
term of

1. 6 months and a fine of Rs. 20,000

2. 3 years and a fine of Rs. 50,000
3. 3 years and a fine of Rs. 2,00,000
4. 1 year and a fine of Rs. 3,00,000

Q.40- Given below are two statements: One is labeled as Assertion A and the other is labeled as
Reason R.

Assertion A: A, the owner of a ship by fraudulently representing her to be seaworthy induces B,

on underwriter to insure the ship.

Reason R: B can obtain cancellation of the policy. as it is a fraud on account of fraudulent

misrepresentation under the contract act.

In the light of the above statements, choose the correct answer from the options given below:

1. Both A and R are true and R is the correct explanation of A

2. Both A and R are true and R is NOT the correct explanation of A
3. A is true but R is false
4. A is false but R is true

Q.41- A contract is said to be discharged by rescission:

A. When terms of a contract are altered

B. When a party makes novation of a contract

C. When an aggrieved party exercises his option to avoid the contract

D. When a party to a contract waives his rights under the contract

E. Where none of the parties has performed its part for a long time and no other party has objected
against it

By – Dr. Vikas Abhishek & Jyoti Tandon

Choose the correct answer from the options given below:

1. A, D and E only
2. B and D only
3. B, C and E only
4. C and E only

Q.42- On which of the following grounds, the Tribunal may order for the winding-up- of a company
or a petition submitted to it? Indicate the correct code

(A) Passing of special resolution for the winding up

(B) Conducting affairs in a fraudulent manner

(C) Reduction in membership

(D) Inability to pay debts

Choose the correct answer from the options given below:

1. (A), (B) and (C) only

2. (A), (B) and D) only
3. (A), (B), (C) and (D) only
4. (B), (C) and (D) only

Q.43- Which one of the following is not included in the term "Work" under the Copyright Act 1957?

1. A Cinematographic film
2. Layout designs of integrated circuits
3. A sound recording
4. A dramatic work

Q.44- A contract is discharged by supervening impossibility under which of the following

situations?

(A) Destruction of subject matter

(B) Death or disablement of parties

(C) Rescission

By – Dr. Vikas Abhishek & Jyoti Tandon

(D) Remission

(E) Accord and satisfaction

Choose the most appropriate answer from the options given below :

1. (A), (C) and (D) only

2. (A) and (B) only
3. (A), (B) and (E) only
4. (C) and (D) only

Q.45- Sequence the following in the copyright ecosystem for literary creation under the Indian
Copyright Act, of 1957:

(A) Public communication

(B) Copyright assignment

(C) Content development

(D) Relinquish copyright

(E) Copyright transmission

Choose the correct answer from the options given below :

1. (A) → (E) → (B) → (D) → (C)

2. (C) → (A) → (B) → (E) → (D)

3. (E) → (C) → (B) → (D) → (A)

4. (B) → (C) → (E) → (A) → (D)

Q.46- Who is not eligible to get information under the RTI Act from the following?

(A) Corporations

(B) Associations

(C) Companies

(D) Citizens

(E) Legal entities

By – Dr. Vikas Abhishek & Jyoti Tandon

Choose the correct answer from the options given below.

1. A, B, D and E only
2. A, B, C and E only
3. B and D only
4. A, D and E only

Q.47- Out of the following statements, which are not true in respect of a Limited Liability
Partnership?

A. There must be at least one Designated member at all times.

B. Designated members do not have the same rights and duties as any other member.

C. There is no specific requirement to have any non-designated members.

D. A Limited Liability Partnership may be established such that all members are considered to be
designated members

Choose the correct answer from the options given below:

1. A, C and D only
2. A and B only
3. B and D only
4. B, C and D only

Q.48- Arrange the following process of making a contract in the chronological sequence from the
first to the last.

A. Agreement

B. Promise

C. Offer or proposal

D. Contract

E. Acceptance

Choose the correct answer from the options given below

1. C, E, B, A, D
2. A, D, E, C, B

By – Dr. Vikas Abhishek & Jyoti Tandon

 3. B, D, C, A, E
4. E, B, A, C, D

Q.49- Which one of the following duties is not a general duty of directors of a company?

1. Duty of good faith to promote the object of the company.

2. Duty of due and reasonable care, skill and diligence and shall exercise independent
judgment.
3. Duty to attend Board Meetings
4. Duty not to delegate or assign his office assignment.

Q.50- Which of the following companies cannot be a 'Small Company'?

A. A holding company or a subsidiary company

B. A company registered under Section 8

C. A company or body corporate governed by any Special Act

D. One Person Company (OPC)

Choose the correct answer from the options given below:

1. B and C only
2. A, B and C only
3. B, C and D only
4. A and D only

Q.51- In case of a warranty, the buyer can:

1. Repudiate the contract

2. Claim damages only
3. Return the goods
4. Refuse to pay the price

Q.52- Given below are two statements:

Statement I: Display of goods by a shopkeeper with prices marked on them. Is not an offer but an
invitation to the public to make an offer to buy the goods.

By – Dr. Vikas Abhishek & Jyoti Tandon

Statement II: Price quotations, catalogues and advertisements in newspapers for sale of an article
do constitute a valid offer.

In the light of the above statements, choose the most appropriate answer from the options given
below:

1. Both Statement I and Statement Il are correct

2. Both Statement I and Statement II are incorrect
3. Statement I is correct but Statement II is incorrect
4. Statement I is incorrect but Statement II is correct

Q.53- Who among the following are identified as the Key managerial personnel in the Indian
Companies Act, 2013:

(A) Chief Executive Officer

(B) Whole Time Director

(C) Company Secretary

(D) Chief Risk Officer

(E) Manager

Choose the most appropriate answer from the options given below:

1. (A) (B) and D) only

2. (A) and (B) only
3. (A), (B), (C) and (D) only
4. (A), (B), (C) and (E) only

Q.54- Match List I with List II :

List I - Legal Latin List II - Description

Phrase

(A) Consensus ad (I) Something in return

idem

By – Dr. Vikas Abhishek & Jyoti Tandon

 (B) Quid pro quo (II) As much as earned

(C) Quantum meruit (III) Buyer beware

(D) Caveat emptor (IV) Meeting of minds

Choose the correct answer from the options given below:

1. (A)-(I), (B)-(III), (C)-(IV), (D)-(II)

2. (A)-(IV), (B)-(I), (C)-(II), (D)-(III)
3. (A)-(II), (B)-(I), (C)-(III), (D)-(IV)
4. (A)-(I), (B)-(IV), (C)-(II), (D)-(III)

Q.55- If the information sought has been supplied by a third party or is treated as confidential by
that third party. The third-party must give a representation before the PIO in reply to the notice
issued to it within how many days from the date of receipt of such notice?

1. 5 days
2. 15 days
3. 10 days
4. 7 days

Q.56- Which one of the following is not valid as per the Limited Liability Partnership Act, 2008?

1. LLP shall maintain its books of accounts on a double entry system and cash or accrual
basis.
2. L.L.P. shall prepare a Statement of Account and Solvency for each financial year.
3. Every LLP shall file an annual return with the Registrar of Companies
4. Every LLP is a separate legal entity independent of its partners

Q.57- Which of the following are essentially anti-competitive agreements as per the Competition
Act? 2002 in India?

(A) Exclusive distribution agreement

By – Dr. Vikas Abhishek & Jyoti Tandon

(B) Resale price maintenance

(C) Exclusive supply agreement

(D) Non-compete agreement

(E) Tie-in agreement

Choose the correct answer from the options given below :

1. (A), (B) and (C) only

2. (C), (D) and (E) only
3. (A), (B), (C) and (D) only
4. (A), (B), (C) and (E) only

Q.58- Which one of the following statements is correct regarding the Negotiable Instruments Act
in India?

1. A cheque is always drawn on a banker

2. A cheque requires acceptance by the drawee
3. A bill of exchange can be drawn payable to the bearer on demand
4. A promissory note containing a conditional promise to pay is a valid promissory note

Q.59- Which one among the following is not a privilege or right of a holder-in-due course under
the Negotiable Instruments Act?

1. Estoppel against denying signature or capacity of prior party

2. Estoppel against denying the original validity of the instruments
3. Estoppel against denying the capacity of the payee to endorse
4. Estoppel against denying the genuineness or validity of the payee's endorsement

Q.60- Match List I with List II

List I (Mode/delivery) List II (Explanation)

By – Dr. Vikas Abhishek & Jyoti Tandon

 (A) Actual delivery (I) Seller hands over to the
buyer the key of the godown
where the goods are stored

(B) Constructive (II ) Physical handing over of

delivery the possession of goods by
the seller to the buyer

(C) Symbolic delivery (IIl) Voluntary transfer of

possession of goods from
seller to buyer

(D) Delivery (IV) Acknowledgement by

third person on behalf of and
at the disposal of the buyer

Choose the correct answer from the options given below:

1. (A)-(IV), (B)-(II), (C)-(III), (D)-(I)

2. (A)-(II), (B)-(IV), (C)-(I), (D)-(III)
3. (A)-(III), (B)-(I), (C)-(II), (D)-(IV)
4. (A)-(I), (B)-(II), (C)-(IV), (D)-(III)

Q.61- Which of the following are the tax categories under the GST?

(A) 5%

(B) 10%

(C) 12%

(D) 20%

(E) 28%

Choose the correct answer from the options given below:

1. (A), (D), (E) Only

By – Dr. Vikas Abhishek & Jyoti Tandon

 2. (B), (C), (D) Only
3. (A), (C), (E) Only
4. (B), (D), (E) Only

Q.62- Arrange the following in the winding up process of a company by the tribunal in
chronological sequence from the first to the last.

(A) Settlement of list of contributories and application of assets

(B) Submission of report by company liquidator

(C) Petition for winding up

(D) Direction of Tribunal on report of company liquidator

(E) Appointment of company liquidator

Choose the correct answer from the options given below:

1. (E), (B), (A), (C), (D)

2. (A), (E), (B), (C), (D)
3. (C), (E), (B), (D), (A)
4. (B), (D), (C), (A), (E)

Q.63- Limited liability partnership may be wound up by one of the following

1. Voluntarily
2. By the Registrar, if the firm fails to file an annual return in the prescribed form with the
Registrar of Companies within 60 days of closer of the financial year
3. By the Tribunal established under the Companies Act, 2013
4. Either voluntarily or by the tribunal established under the Companies Act, 2013

Q.64- Given below are two statements: One is labeled as Assertion A and the other is labeled as
Reason R.

Assertion (A): Lien is the right to retain possession of goods and refuse to deliver them to the
buyer until the price due in respect of them is paid or tendered.

Reasons (R): An unpaid seller in possession of goods sold is entitled to exercise his lien on the
goods where the goods have been sold without any stipulation as to credit.

By – Dr. Vikas Abhishek & Jyoti Tandon

In the light of the above statements, choose the most appropriate answer from the options given
below:

1. Both (A) and (R) are correct and (R) is the correct explanation of (A)
2. Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
3. (A) is correct but (R) is not correct (A)
4. (A) is not correct but (R) is correct (A)

Q.65- Which of the following issues are addressed by the Information Technology Act, of 2000?

(A) Legal recognition of electronic documents

(B) Redressal of grievances

(C) Offences and contraventions

(D) Dispute settlements

(E) Justice dispensation system for cyber crimes

Choose the correct answer from the options given below:

1. (A), (C), (D) Only

2. (C), (D), (E) Only
3. (B), (D), (E) Only
4. (A), (C), (E) Only

Q.66- Which one of the following does not fall in the ambit of the objectives of the Competitions
Act, 2002 in India?

1. Encourage competition
2. Prevent abuse of dominant position
3. Prevent monopolistic rights arising out of intellectual property
4. Regulate mergers and acquisitions

Read the following paragraph and answer the five questions that follow:

Section 455 of the Indian Companies Act. 2013 talks about a New Provision Called "DORMANT
COMPANY". This concept was not there in the Companies Act, of 1956.

By – Dr. Vikas Abhishek & Jyoti Tandon

A Dormant Company offers an excellent advantage to promoters who want to hold an asset or
intellectual property under the corporate shield for its usage at a later stage. For instance: if a
promoter wants to buy land now for a future project at a comparatively lesser price, he may do
the same through the dormant company so that he can use the land for its future project.

Thus, dormant company status is a new phenomenon in the Companies Act 2013 and is an
excellent tool for keeping assets in the company for future usage. A dormant company may be
either a public company a private company or a one-person company.

Certain companies, due to the nature of their business, may not be able to start any business.
For a long time from the date of incorporation for instance any business for the creation of
intellectual property or a future project and has no significant accounting transaction. Such a
company may be an "Inactive company". Construction Companies/Real Estate,
Companies/Incorporate New Companies to hold land/properties for future projects.

This concept is beneficial for them. By this concept, they can Incorporate a Company and
purchase property/land in that company and get the status of a Dormant Company. If a company
gets the status of a dormant company, there is less compliance in the dormant company in
comparison to the active company. It will help to save the cost of compliance for inactive
companies.

Q.67- Given below are two statements: One is labeled as Assertion A and the other is labeled as
Reason R.

Assertion (A): Provision is made to obtain the status of a dormant company for a

inactive company that doesn't trade.

Reasons (R): The dormant company doesn't trade but has significant accounting transactions.

In the light of the above statements, choose the most appropriate answer from the options given
below:

1. Both (A) and (R) are correct and (R) is the correct explanation of (A)
2. Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
3. (A) is correct but (R) is not correct
4. (A) is not correct but (R) is correct

Q.68- Given below are two statements: One is labeled as Assertion A and the other is labeled as
Reason R.

Assertion (A): If a company gets the status of a dormant company, then it is subject to less
compliance in comparison to an active company.

By – Dr. Vikas Abhishek & Jyoti Tandon

Reasons (R): It will help to save compliance for Inactive companies when they become dormant
companies under section 455 of the Companies Act, 2013 as compared to the Companies Act.
1956.

In the light of the above statements, choose the most appropriate answer from the options given
below:

1. Both (A) and (R) are correct and (R) is the correct explanation of (A)
2. Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
3. (A) is correct but (R) is not correct
4. (A) is not correct but (R) is correct (4)

Q.69- Which one of the following nature of business is suitable to a Dormant company?

1. Shipping business
2. Manufacturing business
3. Real estate business
4. Pharmaceutical business

Q.70- Which of the following companies do not fall under the purview of a Dormant company?

(A) Private Company

(B) One-person company

(C) Limited and unlimited liability companies

(D) Public Company

(E) Government company

Choose the most appropriate answer from the options given below:

1. (B), (D), (E) only

2. (A), (C), (D) only
3. (A), (B), (D) Only
4. (B) (C), (E) Only

Q.71- The dormant company offers an excellent advantage to which one of the following?

By – Dr. Vikas Abhishek & Jyoti Tandon

 1. Bankers
2. Creditors
3. Shareholders
4. Promoters

Q.72- If anyone fraudulently or dishonestly makes use of the electronic signature, password or
any other unique identification feature of any other person then under which section of IT Act
2000, punishment shall be given?

1. Section 63
2. Section 66B
3. Section 66C
4. Section 67B

Q.73- From Dec. 1, 2022, which body handles all complaints related to Profiteering under Goods
and Services Tax (GST)?

1. National Anti-Profiteering Authority (NAA)

2. Niti-Aayog
3. The Competition Commission of India (CCI)
4. GST council

Q.74- Which of the following factors hinder the formation and sustainability of Cartels?

A. Less number of firms in the industry

B. Presence of differentiated products

C. Different cost structures

D. Low-frequency sales coupled with huge amounts of output.

E. Absence of monopolies and restrictive trade practices.

Choose the most appropriate answer from the options given below:

1. B, C and D only
2. A, D and E only
3. C, D and E only
4. B, C and E only

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.75- As per the RTI Act, 2005, which of the following are exempted from disclosure [U/S 8(1)]?

A. Information, the disclosure of which causes a breach of privilege of Parliament or the State
Legislature.

B. The monthly remuneration received by the employee

C. Information received in confidence from a foreign government

D. Information that relates to personal information the disclosure of which has no relationship to
any public activity or interest

E. A statement of the categories of documents that are held by a public authority or under its
control.

Choose the correct answer from the options given below:

1. A, B and E only
2. A, C and D only
3. C, D and E only
4. B, C and D only

Q.76- An instrument is to be called 'Negotiable' as per the Negotiable Instruments Act, 1881 if it
possesses which of the following characteristics?

A. Can be transferred infinitum

B. Having a minimum lock-in period

C. Freely transferable

D. The holder cannot sue in his name

E. Holder's title free from defects.

Choose the correct answer from the options given below:

1. A, C and E only
2. A, B and E only
3. B, D and E only
4. A, B, C and E only

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.77- Intellectual Capital of an enterprise includes its :

A. Processes

B. Designs

C. Relationships developed with its customers and suppliers

D. Internet domain names

E. Copyrights

Choose the correct answer from the options given below:

1. A, B, C and D only
2. B, C and E only
3. C, D and E only
4. A, B, C, D and E

Q.78- Match List I with List II

LIST I LIST II

(The sale of Goods Act, (Section)

1930) (Condition)

A. Sale by Auction I. 15

B. Breach of Warranty II. 27

C. Sale by Description III. 13

D. Transfer of Title IV. 64

Choose the correct answer from the options given below:

By – Dr. Vikas Abhishek & Jyoti Tandon

 1. A-IV, B-III, C-I, D-II
2. A-IV, B-I, C-III, D-II
3. A-III, B-IV, C-II, D-I
4. A-III, B-I, C-II, D-IV

Q.79- Arrange the Intellectual Capital Management Process Flow Stages in a proper sequential
order :

A. Index

B. Capture

C. Replicate

D. Identify

E. Store

Choose the correct answer from the options given below:

1. B, D, A, E, C
2. B, D, A, C, E
3. D, B, A, E, C
4. D, A, B, E, C

Q.80- The right to 'stoppage in transit' exercised by an unpaid seller is to

1. recover price
2. retain possession
3. regain possession
4. recover damages

Q.81- Which one among the following is the duty of the Central Assistant Public Information
Officer or a State Assistant Public Information Officer?

1. To receive the applications for information or appeals under the RTI Act for forwarding the
same forthwith to the CPIO/SPIO
2. To receive the fee for the RTI applications
3. To assist the CPIO/SPIO in furnishing the reply to the applicant
4. To ensure that RTI applications are replied to within the prescribed period

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.82- The relationship between a bank and its customers is that of:

1. Debtor and Creditor

2. Trustee and Beneficiary
3. Principal and Agent
4. Drawer and Payee

Q.83- Which of the following relationships raise presumptions of undue influence?

A. Parent and child

B. Doctor and patient

C. Husband and wife

D. Fiancé and fiancee

E. Creditor and debtor

Choose the correct answer from the options given below.

1. A, B and C only
2. A, B and D only
3. A, B and E only
4. B, C and D only

Q.84- The Information Technology Act, of 2000 in India provides legal recognition to which of the
following?

A. Electronic books of accounts in banks

B. Electronic commerce

C. Electronic negotiable instrument

D. Electronic signature

E. Electronic sale and conveyance of immovable property

Choose the correct answer from the options given below:

1. A, B and C only

By – Dr. Vikas Abhishek & Jyoti Tandon

 2. C, D and E only
3. B, D and E only
4. A, B and D only

Q.85- In which of the following methods, a contract is said to be discharged by mutual consent?

A. Novation

B. Recession

C. Remission

D. Alteration

E. Accord and Satisfaction

Choose the correct answer from the options given below:

1. A, B and E only
2. B, C and D only
3. A, B, C and D only
4. A, B, C, D and E

Q.86- Duties of the bailor include

A. Take care of goods

B. Bear extraordinary expenses

C. Return accretion to the goods

D. Indemnify the bailee

E. Disclose known faults

Choose the correct answer from the options given below:

1. A, B and E only
2. A, C and D only
3. B, C and D only
4. B, D and E only

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.87- Some bottles of soft drinks were supplied by X to Y. Y got injured due to the busting of one
of the bottles. Y claimed damages from X due to?

1. Condition as to fitness as quality

2. Condition as to who wholesomeness
3. Condition as to merchantability
4. Condition in a sale by description

Q.88- Which of the following is not an essential characteristic of a negotiable instrument?

1. Sells little to a bona fide transferor for value.

2. Flexibility in transfer
3. Easy negotiability
4. The transferor can sue in their name without giving notice to the debtor.

Q.89- In which of the following cases, is the agreement void ab initio

A. Mistake is caused by fraud or misreperatation

B. Mistake as to the identity of the person contracted with

C. Mistake as to the nature and character of a written document

D. Bilateral mistake

E. Unilateral mistake

Choose the most appropriate answer from the options given below:

1. C, D, E only
2. A, C, E only
3. B, A, C only
4. D, E, B only

Q.90- Match List I with List II

LIST I LIST II

By – Dr. Vikas Abhishek & Jyoti Tandon

 Schedules of the Deals with
Companies Act, 2013

A. Schedule III I. Code for independent

directors

B. Schedule IV II. Corporate social

responsibility activities

C. Schedule V II. Preparation of Balance

sheet and statement of profit
and loss

D. Schedule VII IV. Appointment and

remuneration to managerial
personnels

Choose the correct answer from the options given below:

1. A-II, B-IV, C-III, D-I

2. A-III, B-I, C-IV, D-II
3. A-I, B-II, C-III, D-IV
4. A-IV, B-III, C-I, D-II

Q.91- Four schedules have been added at the end of the Limited Liability Partnership (LLP) Act,
the second schedule entertains which one of the following?

1. Provisions to conversion from private company into limited liability partnership

2. Provisions regarding matters to mutual rights and duties of partners and limited liability
partnerships and their partners applicable in the absence of any agreement on such
matters
3. Provisions relating to the conversion of a firm into a limited liability partnership
4. Provisions for conversion from unlisted public company into limited liability partnership

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.92- Arrange the procedure to make payment using an electronic cash ledger.

A. Generation of challan Identification number (CIM) and Amount credited to electronic cash
ledger

B. Form GST PMT-07 and correction in electronic cash ledger

C. Challan of CIN (challan identification number) and mandate form payment through NEFT or
RTGS mode

D. Generate the challan in form GST PMT-6 from the portal and enter the details

E. Amount as per payment rule can be deposited by using internet banking, debit credit card etc.

Choose the correct answer from the options given below:

1. A, D, B, C, E
2. A, B, C, D, E
3. D, E, C, A, B
4. B, C, D, E, A

Q. 93- One or more parties to a negotiable instrument are/ are discharged from liability in one of
the following ways:

A. By giving the notice of dishonor by the holder

B. By deliberately canceling the name of the party/parties

C. By taking qualified acceptance

D. By allowing the drawee 24 hours to accept

E. By material alteration

Choose the most appropriate answer from the options given below:

1. B, C, D only
2. D, A, C only
3. E, C, B only
4. A, B, C only

Q.94. Given below are two statements: one is labeled as Assertion A and the other is labeled as
Reason R

By – Dr. Vikas Abhishek & Jyoti Tandon

Assertion A: "Promise is an agreement"

Reason R: "An agreement is the total of offer and acceptance".

In the light of the above statements, choose the most appropriate answer from the options given
below:

1. Both A and R are correct and R is the correct explanation of A

2. Both A and R are correct but R is NOT the correct explanation of A
3. A is correct but R is not correct
4. A is not correct but R is correct

Q.95- Arrange the following steps in a logical sequence in recourse to dishonoring a negotiable
instrument:

A. Noting

B. Compensation

C. Protesting

D. Notice of dishonor

E. Penalties

Choose the correct answer from the options given below:

1. D, A, C, B, E
2. C, D, A, B, E
3. C, D, E, B, A
4. A, C, D, B, E

Q.96- Match List I with List II

LISTI LIST Il

(Schedules under the (Underlying themes)

companies

Act, 2013)

By – Dr. Vikas Abhishek & Jyoti Tandon

 A. Schedule I I. Computation of Depreciation

B. Schedule II II. Code for Independent directors

C. Schedule III III. Memorandum of Association

D. Schedule IV IV. Preparation of Balance sheet and

statement of profit and loss

Choose the correct answer from the options given below:

1. A-II, B-I, C-IV, D-III

2. A-III, B-I, C-IV, D-II
3. A-III, B-IV, C-I, D-II
4. A-I, B-III, C-II, D-IV

Q.97- An agent is personally liable to third parties in which of the following situations?

A. If an agent acts for an undisclosed Principal

B. Trade usage and customs make the agent personally liable

C. If an agent signs a contract in the principal’s name

D. If an agent works for the named Principals

E. If an agent works for a foreign Principal.

Choose the correct answer from the options given below:

1. A, B and C only
2. A, B and E only
3. C, D and E only
4. B, C and D only

Q.98- Given below are two statements:

By – Dr. Vikas Abhishek & Jyoti Tandon

Statement I: Certificate of incorporation is conclusive evidence that all the requirements of the
Companies Act have been complied with in respect of registration.

Statement II: After incorporation, if the company makes a fresh contract in terms of the pre-
incorporation contract, the liability of the promoters shall come to an end.

In the light of the above statements, choose the correct answer from the options given below:

1. Both Statement I and Statement Il are true

2. Both Statement I and Statement are false
3. Statement I is true but Statement II is false
4. Statement I is false but Statement II is true

Q.99- 'A' sells a mobile phone to 'B', a minor who pays for it by his cheque. 'A' endorses the
cheque to 'C' who takes it in good faith and for value. The cheque is dishonored on presentation.
Can 'C' enforce payment of the cheque?

1. C can enforce the payment of the cheque only against ‘A’

2. C can enforce the payment of the cheque either against A or B
3. C can enforce the payment of cheque both against ‘A’ and ‘B’
4. C can enforce the payment of the cheque only against ‘B’

Q.100- The doctrine of 'Caveat emptor' applies in which of the following situations?

1. When goods are sold by description

2. When goods are sold by sample
3. When goods are sold under implied conditions and warranties
4. When the buyer does not intimate the purpose to the seller and depends upon his skill
and judgment.

Q.101- If the application for information is rejected under the Right to Information Act 2005, the
CPIO/SPIO is obligated which of the following to fürnish the person seeking the information?

A. Power and functions of the Information Commission

B. Reasons for such rejection

C. Obligation of public authorities

D. The particulars of the appellant authority

By – Dr. Vikas Abhishek & Jyoti Tandon

E. The period within which an appeal against such rejection may be preferred

Choose the correct answer from the options given below:

1. A, B and C only
2. B, C and D only
3. A, C and E only
4. B, D and E only

Q.102- A letter of acceptance sufficiently stamped and duly addressed is put into the course of
transmission. There is a

1. Contract voidable at the option of acceptor

2. Contract voidable at the option of the offeror
3. No contract at all
4. Valid contract

Q.103- On attaining the age of majority, a minor's agreement

1. Can be ratified by him

2. Cannot be ratified by him
3. becomes void
4. becomes valid

Q.104- The Competition (Amendment) Act, 2023 revamped the Competition Act in which of the
following perspectives :

A. The CCI needs to be intimated if the value of the merger and acquisition deal exceeds Rs.
2000 crores

B. The overall timeline for the assessment of the combination has been reduced to 150 days from
210 days

C. "Exclusive selling agreements" has been replaced with "exclusive dealing agreements"

D. Entities who are not engaged in identical or similar trade shall also be part of an Anti-
competitive Agreement under Section 3(3) of the Act

E. Anti-competitive conduct like “tie-up arrangements” resale price maintenance” and “exclusive
distribution agreement” have been redefined.

By – Dr. Vikas Abhishek & Jyoti Tandon

Choose the correct answer from the options given below:

1. A, B and C only
2. C and E only
3. A, B, C and D only
4. A, B, C, D and E only

Q.105- Which of the following can become a member of an LLP?

A. Resident Indians

B. Limited Liability Partnership

C. Corporation Sole

D. Co-operative society

E. Companies (including foreign companies)

Choose the most appropriate answer from the option given below:

1. A, B and C Only
2. A, C and D Only
3. A, B and D Only
4. A, E and B Only

Q.106- Which are the states where every supplier of goods and/or services is required to obtain
registration if his aggregate turnover exceeds the threshold limit of Rs.20 lakh for the supply of
goods and/or services?

A. Arunachal Pradesh

B. Meghalaya

C. Manipur

D. Mizoram

E. Sikkim

Choose the most appropriate answer from the option given below:

1. B, C and A Only
2. C, D and E Only

By – Dr. Vikas Abhishek & Jyoti Tandon

 3. E, B and A Only
4. A, B and D only

Q.107- The trademarks can be broadly classified into which of the following categories?

A. Descriptive

B. Normative

C. Generic

D. Explanatory

E. Invented

Choose the most appropriate answer from the option given below:

1. A, B and D Only
2. D, E and C Only
3. B, C and E Only
4. C, A and E Only

Q.108- Arrange the following steps in the investigation process of combinations by the
Competition Commission of India in the correct order

A. Call for a report from the Director General

B. Invite a person. affected parties to file written objections

C. Direct the parties of the combination to publish details of the combination

D. Call for additional information from the parties of the combination

E. Issue a notice for show cause to the parties of the combination

Choose the correct answer from the option given below:

1. A, B, C, D, E

2 E, A, C, B, D

3. B, A, C, D, E

4. C, A, D, E, B

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.109- Which of the following are relevant to technological innovations?

A. Most innovations are incremental

B. Most innovations involve the commercial utilization of ideas

C. Innovations cannot be explained with isoquants

D. Introduction of innovations is not stimulated by strong domestic rivalry and geographic

concentrations

E. The risk in introducing innovations is usually high

Choose the correct answer from the options given below:

1. B, D and E only
2. A, C and E only
3. A, B and E only
4. A, B and C only

Q.110- Which one of the following is invalid for the relationship among the agent, the sub-agent
and the principal?

1. Sub-agent works under the control and on the directions of the agent
2. Sub-agent is responsible to the agent only
3. Privity of contract exists between the principal and the sub-agent
4. The agent is responsible to the principal for the acts of the sub-agent

Q.111- Match List I with List II

List I (Features) List II (Remedies for breach of

contract)

A. Breach of promise to I. Suit for injunction

marry

By – Dr. Vikas Abhishek & Jyoti Tandon

 B. Part performance (as ll. Rescission of contract
much as earned)

C. Absolvation from all Ill. Sue for quantum meruit

obligations

D. Mode of securing the IV. Vindictive damage

specific performance of
negative terms of contract

Chose the correct answer from the option given below:

1. A- IV, B- III, C- II, D- I

2. A- I, B- II, C- III, D- IV
3. A- III, B- IV, C- I, D- II
4. A- II, B- I, C- IV, D- III

Q.112- Given below are two statements: one is labeled as Assertion A and the other is labeled
as Reason R

Assertion A: A promoter, invariably is the one who has been associated with the formation of the
company

Assertion R: A promoter is the one who undertakes to form a company concerning a given object
and who takes the necessary steps to accomplish that purpose

In the light of the above statements, choose the most appropriate answer from the options given
below:

1. Both A and R are correct and R is the correct explanation of A

2. Both A and R are correct and R is not the correct explanation of A
3. A is correct but R is not correct.
4. A is not correct but R is correct

Q.113- In case of anti-competitive activities by a firm, the Competition Commission of India can
impose a penalty which shall be not more than

By – Dr. Vikas Abhishek & Jyoti Tandon

 1. Five per cent of the average turnover/income of the firm of the three preceding financial
years
2. Ten per cent of the average turnover/income of the firm of the three preceding financial
years
3. Fifteen per cent of the average turnover/income of the firm of the three preceding financial
years
4. Five per cent of the average turnover/income of the firm of the five preceding financial
years

Q.114- A charitable trust (registered under section 12 AB of the Income Tax Act) is registered
under GST in New Delhi. It provided yoga training to middle-aged people, coaching for Basket-
ball to teenagers and skill development services to persons over the age of 65 years residing in
New Delhi in July. This trust is liable to pay GST on

1. Yoga training
2. Skill-development services
3. Coaching for basketball
4. Coaching for basketball and Yoga training

Q.115- Which one of the following is an exception to the doctrine of Constructive Notice?

1. Doctrine of Subrogation
2. The doctrine of Ultra Vires
3. Corporate Veil
4. Turquand Rule

Q.116- "An agreement which is enforceable by law at the option of one or more of the parties but
not at the option of the other or others" is called :

1. Void contract
2. Valid contract
3. Voidable contract
4. Illegal contract

Q.117- Arrange the provisions section-wise under the Companies Act, 2013 in ascending order.

A. Prospectus

By – Dr. Vikas Abhishek & Jyoti Tandon

B. Incorporation of company

C. Articles

D. Formation of company

E. Service of Documents

Choose the correct answer from the options given below :

1. A, B, C, D, E
2. B, A, C, D, E
3. D, C, B, E, A
4. E, C, B, D, A

Q.118- "The bailment of goods as security for payment of a debt or performance of a promise" is
called :

1. Bailment
2. Pledge
3. Pledgee
4. Pawnee

Q.119- Match List - I with List - II.

List- I List - Il

Contents/Provisions under Discussion/Provision in

the Central Goods & chapters
Services Tax Act, 2017

A. Levy and collection of Tax I. Chapter - VI

B. Registration II. Chapter-III

By – Dr. Vikas Abhishek & Jyoti Tandon

 C. Input Tax credit III. Chapter -X

D. Payment of Tax IV. Chapter - V

Choose the correct answer from the options given below :

1. A-III, B-I, C-II, D-IV

2. A-II, B-I, C-IV, D-III
3. A-III, B-II, C-IV, D-I
4. A-IV, B-II, C-III, D-I

Q.120- Which of the following is/are correct for the formation of a company under section 3 of the
Companies Act, 2013?

A. Seven or more persons, where the company formed is to be a public company.

B. Two or more persons, where the company is to be formed to be a private company,

C. One person, where the company to be formed is to be one person company,

D. Five or more persons, where the company formed is to be a public company.

Choose the correct answer from the options given below:

1. A, B only
2. B, C only
3. A, B, C only
4. B, C, D only

Q.121- Under which sections of the Central Goods and Services Tax Ad, 2017, the provisions of
Input Tax Credit has been provided?

1. Section 12 to Section 15
2. Section 16 to Section 21
3. Section 22 to Section 30
4. Section 31 to Section 34

By – Dr. Vikas Abhishek & Jyoti Tandon

Q.122- Match List - I with List - II.

List – I List- II

Provision under the Relevant Sections

Indian contract Act,
1872

A. Contingent contract I. Section 31

B. Bailment II. Section 15

C. Fraud III. Section 17

D. Coercion IV. Section 148

Choose the correct answer from the options given below :

1. A-I, B-IV, C-III, D-II

2. A-I, B-III, C-II, D-IV
3. A-II, B-III, C-IV, D-I
4. A-IV, B-III, C-I, D-II

Q.123- Which of the following is/ are correct about free consent when it is not caused by?

A. Coercion

B. Undue Influence

C. Fraud

D. Misrepresentation

E. Bailment

By – Dr. Vikas Abhishek & Jyoti Tandon

Choose the correct answer from the options given below:

1. A, B, C only
2. B, C, D only
3. A, B, C, D only
4. B, C, D, E only

By – Dr. Vikas Abhishek & Jyoti Tandon