Top 250+ Solved Laws and Ethics MCQ Questions Answer
Q. This is not one of the 7 principles of public life.
a. Integrity
b. Honesty
c. Content
d. Accountability
Q. Which of the following is an invitation for offer?
a. A tender to supply goods at a certain time
b. A request for a loan
c. Bids in an auction sale
d. A catalogue of goods for sale
Q. Where seller delivers to the buyer a quantity of goods less than the contracted to sell,the buyer
a. may reject them
b. should not reject them as more quantity might be supplied.
c. may resell them
d. give less price for them.
Q. 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
Q. A bearer instrument is negotiated by
a. delivery only
b. delivery and endorsement
c. endorsement
d. stamping and attestation
Q. X, Y and Z are partners in a firm. X, without the authority of Y and Z buys certainshares in his name out of partnership money. These shares will constitute
a. Partnership liability
b. Partnership Property
c. Partnership networth
d. Partnership Capital
Q. A contract is a combination of
a. agreement and free consent
b. agreement and consideration
c. agreement and enforceability
d. agreement and competence of parties
Q. A proper foundation of ethics requires a standard of _______ to which all goals andactions can be compared to.
a. value
b. living
c. life
d. speech
Q. 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
Q. X and Y agree to divide the profits of a business in equal shares but the loss if any is tobe borne by X only. The partnership agreement is
a. void
b. voidable
c. lawful
d. illegal
Q. First aid boxes or cupboard equipped with prescribed contents and not less than one in number must be provided and maintained in every factory so as to be accessible during all working hours for every
a. 200 workers for any time
b. 150 workers for any time
c. 500 workers for any time
d. 30 workers for any time
Q. XYZ Ltd., to which the Payment of Wages Act, 1936 is applicable, fixes the wages period of 36 days. You as a Cost and Management Accountant of the Company, how would youadvice the company.
a. There is no problem in the above act of the Company
b. As per Section 4(2) of the Act, no wage period can exceed one month. So the company would be advised accordingly.
c. The wages period can be more than 30 days subject to approval of appropriate Government
d. The company should take permission of Inspector of the factory.