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Legal Aspects of Business MCQs with Answers

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Question 1

Share Premium money can be used for :

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Question 2

How are the following items arranged in the Equity and Liabilities part of the Balance Sheet of a Company as per Division I of Schedule III to the Companies Act, 2013 ?

(i) Current Liabilities

(ii) Share Application Money Pending Allotment

(iii) Share Capital

(iv) Non-current Liabilities

(v) Reserve and Surplus

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Question 3

Statements :

(i) Dividends can be paid only when there are profits (current or accumulated).

(ii) Dividends can be paid out of capital when there are losses.

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Question 4

Consumers have the right :

(i) to be protected against goods and services that are hazardous to life and property.

(ii) to assured , wherever possible, access to a variety of goods and services at notional prices.

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Question 5

If the value of the goods or services paid as consideration is Rs. 89 lakh, a complaint under the Consumer Protection Act, 2019 shall be filed with

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Question 6

The MRTP Act, 1969 was abolished in

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Question 7

By which Act, the government checks restrictive trade practices ?

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Question 8

(A) Assertion : Premium received on issue of shares is credited to share premium account but not to Profit and Loss account.

(R) Reasoning : Since share premium is not a trading profit, it is not distributed to shareholders.

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Question 9

Match the items of List – I with items of List – II :

List – IList – II
1. Measures towards globalizationI. Globalisation
2. Off-shoringII. FEMA
3. FERAIII. Liberalise the inflow of FDI
4. Mr. Aruthur DunkelIV. Uruguay Round
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Question 10

Receipts and Payments Account is prepared by

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