1. Which of the following is not the mode of dissolution of a firm under voluntary dissolution?
-
a :
Dissolution by agreement
-
b :
Dissolution on the happenings of certain contingencies
-
c :
Dissolution on becoming a partner of unsound mind
-
d :
Compulsory dissolution
Correct Answer: c [Dissolution on becoming a partner of unsound mind]
2. The term 'family' as defined in ESI Act, 1948 does not include
-
a :
a spouse
-
b :
a minor adopted child
-
c :
a dependent unmarried daughter
-
d :
an independent married sister
Correct Answer: d [an independent married sister]
3. In case of e-voting, notice shall be sent as attachment in
-
a :
PDF file
-
b :
Word file
-
c :
Excel file
-
d :
Access file
Correct Answer: a [PDF file]
4. The breach of contract may be
-
a :
Actual
-
b :
Anticipatory
-
c :
Either of (a) and (b)
-
d :
None of the above
Correct Answer: c [Either of (a) and (b)]
5. Who may negotiate?
-
a :
Drawer
-
b :
Payee
-
c :
All of the joint makers
-
d :
Any of (a) to (c)
Correct Answer: d [Any of (a) to (c)]
6. Which one of the following is not the discharge by operation of law?
-
a :
By insolvency;
-
b :
By merger;
-
c :
By breach of contract;
-
d :
By the unauthorized alteration of items of a written document.
Correct Answer: c [By breach of contract;]
7. Theminimum number of designated partners in an LLP shall ____________________
Correct Answer: b [2]
8. Which of the following is an invitation for offer?
-
a :
A request for a loan
-
b :
A tender to supply goods at a certain time
-
c :
Bids in an auction sale
-
d :
A catalogue of goods for sale
Correct Answer: d [A catalogue of goods for sale]
9. A person who has ultimate control over the affairs of the factory under Factories Act, 1948 is called as:
-
a :
Occupier
-
b :
Manager
-
c :
Chairman
-
d :
Managing Director
Correct Answer: a [Occupier]
10. A bearer instrument is negotiated by
-
a :
delivery only
-
b :
delivery and endorsement
-
c :
endorsement
-
d :
stamping and attestation
Correct Answer: a [delivery only]
11. Business ethics calls for avoidance of
-
a :
Competition
-
b :
Publicity
-
c :
Monopoly
-
d :
Self-interest
Correct Answer: c [Monopoly]
12. Business ethics has a ____ application.
-
a :
Universal
-
b :
Natural
-
c :
Practical
-
d :
Physical
Correct Answer: a [Universal]
13. The provisions regarding maximum number of members in a partnership are given in
-
a :
The Partnership Act
-
b :
The Companies Act
-
c :
The Societies Registration Act
-
d :
The Co-operative Societies Act
Correct Answer: b [The Companies Act]
14. X and Y agree to divide the profits of a business in equal shares but the loss if any is to be borne by X only. The partnership agreement is
-
a :
void
-
b :
voidable
-
c :
lawful
-
d :
illegal
Correct Answer: c [lawful]
15. When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the
-
a :
Preceding day
-
b :
Next preceding business day
-
c :
Same day of next week
-
d :
3rd day following the day holiday
Correct Answer: b [Next preceding business day]
16. K owns a residential flat in Chennai. He is entitled to quiet possession and enjoyment of his property. This is called –
-
a :
Rights in Personam
-
b :
Rights in Rem
-
c :
Constitutional Right
-
d :
There is no right at all
Correct Answer: b [Rights in Rem]
17. In a Contract of Guarantee there is/are:
-
a :
One contract
-
b :
Two contracts
-
c :
Three contracts
-
d :
Four contracts
Correct Answer: c [Three contracts]
18. Right of Stoppage in transit can be exercised by the Unpaid Seller, where the Buyer:
-
a :
is solvent
-
b :
becomes insolvent
-
c :
acts fraudulently
-
d :
acts smartly
Correct Answer: b [becomes insolvent]
19. "Nemo dat quad non habet", means:
-
a :
no one is greater than god
-
b :
none can give who does not himself possess
-
c :
everyone can give everything he has
-
d :
everyone is bound by is habit
Correct Answer: b [none can give who does not himself possess]
20. Permanent disablement benefit is paid at the rate of ______________ of wages
-
a :
120%
-
b :
100%
-
c :
79%
-
d :
90%
Correct Answer: d [90%]
21. Appropriate Government reviews the rates of minimum wages within:
-
a :
2 years
-
b :
4 years
-
c :
5 years
-
d :
6 years
Correct Answer: c [5 years]
22. Under Sale of Goods Act, which of the delivery of goods is called as delivery by attornment?
-
a :
Actual
-
b :
Symbolic
-
c :
Constructive
-
d :
Physical
Correct Answer: c [Constructive]
23. When a partnership firm is continued even after the expiry of fixed term is called
-
a :
Perpetual partnership
-
b :
Fixed partnership
-
c :
Contract partnership
-
d :
Partnership at will
Correct Answer: d [Partnership at will]
24. A person who is not a partner of a Partnership Firm, but he may liable for firm’s debt as if he was a Partner. Such a person is called
-
a :
Nominal Partner
-
b :
Sleeping Partner
-
c :
Partner by estoppels
-
d :
Partner for profit only
Correct Answer: c [Partner by estoppels]
25. Under Employee‘s State Insurance Act, in order to qualify for sickness benefit, the insured worker is required to contribute for
-
a :
70 days in a contribution period of 6 months.
-
b :
78 days in a contribution period of 3 months.
-
c :
91 days in a contribution period of 3 months
-
d :
78 days in a contribution period of 6 months.
Correct Answer: b [78 days in a contribution period of 3 months.]
