Top 250+ Solved Laws and Ethics MCQ Questions Answer
Q. The Employees Provident Funds Act, 1952 is applicable to every establishment mentioned in schedule 1 and employed
a. 10 persons or more
b. 100 or more persons
c. 20 or more persons
d. 50 or more persons
Q. The employer's and employee's share of contribution of ESI fund is
a. 1.75% and 4.75% of wages respectively
b. 4.75% and 1.75% of wages respectively
c. 10% and 3.75% of wages respectively
d. 11 % and 3.75% of wages respectively
Q. A Formal notarial certificate attesting the dishonour of a bill or note is called
a. Noting
b. Protest
c. Attestation of Dishonour
d. Endorsement
Q. Public notice is not required when there is
a. admission of new partner
b. retirement of any partner
c. expulsion of any partner
d. dissolution of the firm
Q. The board of directors may appoint additional directors from time to time if soauthorized by
a. Articles of Association
b. Memorandum of Association
c. A resolution passed at general meeting
d. A resolution passed at board meeting
Q. Business ethics are gaining importance because of
a. smooth functioning
b. good image
c. the growth of consumer movement
d. increasing profit
Q. Which of the following statement is correct about business ethics?
a. Social responsibility and business ethics are considered different concepts
b. Making higher profits should be the main objective of a business
c. A business may sustain only if it cares for society
d. Companies making ethical investments may not be able to compete
Q. Holders of public office should take decision solely in terms of the public interest. This principle of public life is called
a. Integrity
b. Accountability
c. Honesty
d. Selflessness
Q. To resolve the Ethical Conflict, following should not be considered.
a. Relevant facts
b. Alternative Course of action
c. Arms Length
d. Ethical issues involved
Q. Which one of the following is not a quasi contract?
a. Claim for necessaries supplied to person incapable of contracting, or on his account
b. Reimbursement of persons paying money by another, in payment of which he is interested
c. Uncertainty and futurity of the event to which it is related
d. Responsibility of finder of goods.
Q. Which one of the following is the subject matter of the contract?
a. Existing or future goods
b. Goods perishing before making contract
c. Goods perishing before sale but after agreement to sell
d. Any of the above.
Q. One of the following is not a negotiable instrument. Identify the same.
a. Share certificate
b. Bill of Exchange
c. Cheque
d. Promissory note
Q. Who can take active part in the management of the firm?
a. Sleeping partner
b. Secret partner
c. Working partner
d. Nominal partner.
Q. A new partner can be introduced as a partner into a firm-
a. At the discretion of active partner
b. At the decision of partners authorized in this behalf
c. With the consent of all existing partners
d. None of the above.
Q. Shelter rooms with suitable lunch rooms are to be provided, if more than ______ workers are employed.
a. 100
b. 150
c. 500
d. 1000