Top 150+ Solved Business Regulations MCQ Questions Answer
Q. Which of the following persons does not have a right of general lien?
a. bankers
b. wharfingers
c. finder of goods
d. factors and policy brokers
Q. X lent his car to his friend Y for two days without any charges. It is a
a. non-gratuitous bailment
b. gratuitous bailemnt
c. hypothecation
d. beneficial bailment
Q. Out of following, which is/are duty of a bailee?
a. to take care
b. to take a reasonable care
c. to sell the goods
d. to retain the goods
Q. Out of following, which is/are rights of a bailee?
a. to indemnify
b. to claim necessary expenses
c. to delivery of goods to any one of the joint bailor of the goods
d. all of the above
Q. A person appointed to contract on behalf of another person is known as a/an
a. principal
b. agent
c. independent contractor
d. servant
Q. A mercantile agent to whom the possession of the goods is given for the purpose of sellingthe same is known as a/an
a. broker
b. factor
c. commission agent
d. insurance agent
Q. Which of the following is not a right of the agent?
a. right of lien
b. right to be indemnified
c. right to remuneration
d. right to make secret profits
Q. A person appointed by the original agent to act in the business of the agency but under thecontrol of the original agent is known as a/an
a. agent
b. sub-agent
c. substituted agent
d. del credere agent
Q. Where the agent contracts for a principal, who is not competent to contract, in such a casethe agent is
a. personally liable
b. exceeding authority
c. not personally liable
d. none of these
Q. What is the name given to an agency which cannot be terminated?
a. revocable agency
b. irrevocable agency
c. agency for a single transaction
d. agency created in necessity
Q. A surety is NOT discharged from his liability:
a. if terms of contract are varied without his consent.
b. if the creditor gives time to the principal debtor without his consent.
c. if the creditor releases the other co-surety.
d. if the creditor releases the principal debtor.
Q. Cosumer Protection Act is applicable on-
a. goods
b. services
c. restrictive trade practices
d. all of these
Q. In District Forum in addition to President, minimum members are-
a. three
b. two
c. four
d. no definite number
Q. Jurisdiction of State Commission is-
a. up to 5 lacs
b. up to 20 lacs
c. up to 30lacs
d. none of these