Top 250+ Solved Laws and Ethics MCQ Questions Answer
Q. In the absence of Partnership agreement, the Partner has
a. right to avail interest on advances paid to partnership firm.
b. right to avail interest on advances paid to partnership firm provided there is profit.
c. no right to avail interest on advances.
d. right to avail interest on advances even after dissolution of the firm.
Q. A person who is employed by the seller to raise the price by fictitious bids. Suchperson is known as
a. Puffer
b. By bidder
c. Decoy Ducks
d. All of the above
Q. In case of banker's refusal to honour the cheque inspite of sufficient funds incustomer's account, the banker is
a. liable to compensate the drawer.
b. not liable to compensate the drawer .
c. criminally liable under section 138.
d. liable to be deliste
Q. Dependants benefit is paid at the rate of
a. 60% of wages in the form of monthly payment.
b. 75% of wages in the form of monthly payment.
c. 80% of wages in the form of monthly payment.
d. 90% of wages in the form of monthly payment.
Q. Board of Directors of every listed Company shall constitute an Audit Committee whichshall consists of a minimum of
a. 2 Directors
b. 3 Directors
c. 4 Directors
d. 5 Directors
Q. Business Ethics also called as Corporate Ethics is a form of
a. Positive Ethics
b. Applied Ethics
c. Physical Ethics
d. Practical Ethics
Q. An agreement which is enforceable at the option of one or more parties thereto butnot at the option of other or others is called
a. Void contract.
b. Voidable contract.
c. Void agreement.
d. Unenforceable contract.
Q. Which of the following agency is irrevocable under The Indian Contract Act, 1872?
a. Agency for fixed period
b. Agency for single transaction
c. Agency coupled with interest
d. Continuing agency
Q. A sort of tacit understanding/agreement among the intending bidders to stifle competition by not bidding against each other in an auction sale is called as
a. Damping
b. Knock-out agreement
c. Puffers
d. By-bidders
Q. When an instrument is drawn conditionally or for a special purpose as a collateral security and not for the purpose of transferring property therein, it is called
a. Ambiguous
b. Inchoate
c. Escrow
d. Inland
Q. Which Committee is constituted by the occupier to promote cooperation betweenthe workers and management in maintaining proper safety and health at workplace?
a. Safety Committee
b. Health Committee
c. Management Workers Consultative Committee
d. Maintenance Committee
Q. Under Payment of Bonus Act, 1965, in disputed cases, bonus must be paid
a. Within 8 months from the close of the accounting year.
b. Within 1 month from the date on which the award becomes enforceable.
c. Within 2 months from the date on which the award becomes enforceable.
d. Within 6 months from the date of closing of the accounting year.
Q. Businessmen or industrialists take initiative to form new companies. Their mainfunction is to manage the company after its promotion, they are known as
a. Particular Promoters
b. Occasional Promoters
c. Professional Promoters
d. General Promoters
Q. The study of ethics can be divided into four operational areas namely meta ethics,normative ethics, descriptive ethics and
a. Positive ethics
b. Physical ethics
c. Applied ethics
d. Natural ethics