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WorksheetsFinal Quiz
Total questions: 50
Worksheet time: 38mins
What is the minimum number of partners required for an LLP?
4
1
2
3
Which of the following is a likely beneficiary of an LLP?
Government agencies
Start-ups
Large corporations
Non-profit organizations
What is the main difference between an LLP and a general partnership?
Number of partners
Liability of partners
Taxation status
Formation process
Why would someone register an LLP instead of incorporating a company?
To issue shares
To have more compliance requirements
To have limited liability status
To avoid taxation
A Company has been formed to undertake the business of making designer shoes. This objective of the company would be found in which of the following documents ?
Certificate of incorporation
MOA
Directors certificate of commencement of business
AOA
Which of the following is/are important content(s)/clauses(s) in the MOA of a company ?
Name of the company
Place of business of the company
Objects of the company
Share capital of the company
All ofthe above
The minimum number of members required for a meeting is called as
BOD
Proxy
Quorum
DIN stands for
Director identification number
Directive identification Nil
Decisive information number
Director information numerical
What is the minimum number of persons required to form an OPC?
3
2
1
7
To start the working for a Private Companies , they need :
certificate of commencement of business
certificate of incorporation
Both of the above.
Which essential of valid offer is missing in the example- A says to B "I will sell you a car"?
Offer may be express
The terms of an offer must be clear
The offer must be communicated to offeree
An offer must be made with an intention to create legal obligations
Which one of the following is correct:
Past consideration is no consideration
Consideration can be past, present or future
Consideration can only be present
Consideration ca be present and future
Below are the elements to form a valid contract EXCEPT:-
Capacity
Consideration
Invitation to Treat
Offer
_________takes place when a new contract is substituted for an existing one between the same parties
Novation
Recession
Undue influence
none
Which of the following is a remedy available for breach of contract
Rescission and damages
Specific performance and injunction
Quantum meruit
All of the above
X bought from Y foreign refined rapeseed oil which was warranted to be equal to the sample. The oil supplied was equal to the sample. The sample was actually a mixture of rapeseed oil and hemp oil.
X was entitled to reject the goods because it did not correspond to the sample
X was entitled to reject the goods because it did not correspond to the description
X was entitled to reject the goods because it did not correspond to the sample and the description.
None of the above
X agrees to sell Y all the crops to be grown at his farm in Haryana during the year 2020 season for a sum of Rs 10,00,000. Identify the status
Agreement to sell
Agreement to sell future goods
Agreement to sell contingent goods
Contract for sale
Don’t purchase in haste’, this is an important ____________ of the consumer.
Responsibility
Right
Act
All the above
A producer of Surajmukhi claimed in an advertisement in a national newspaper that his product has large amount of vitamins, Minerals and Proteins. However, tests indicated that it was a false claim. Whose example is this?
Exploitation of consumer
Welfare of consumer
Information for consumer
None of these
Which product is represented by this symbol?
Food product
Electronic product
Woolen product
Which of the following Right a consumer have against use of hazardous life threatening products?
Right to be heard
Right to Safety
Right to seek redressal
Right to be informed
Which of the following mark should be seen in a mixer grinder?
When the value of goods and services, along with compensation claimed is more than ₹ 1 crore but less than₹ 10 crore, then the complaint can be filed in __________.
Bajaj Auto Ltd. purchased a machinery for Rs. 5 crore from Priya Ltd. and found it defective. Despite many complaints the defect was not rectified. Suggest Bajaj Auto Ltd. the appropriate forum to file their complaint in the three-tier machinery under the Consumer Protection Act.
DISTRICT FORUM
STATE COMMISSION
NATIONAL COMMISSION
SUPREME COURT
You buy a juicing machine in the sale, but when you get home it doesn’t work. Should you:
Take the juicing machine to the recycling centre
Take the juicing machine back to the shop and demand a full refund of the price you paid
Take the juicing machine back to the shop and demand a full refund of the price you paid or a replacement
What does a trademark protect?
an invention
a work of art
logos, names and brands
a secret formula
What protects the intellectual property created by artists?
Patents
Copyrights
Trademarks
Trade Secrets
If you write an original story, what type of IP gives you the right to decide who can make and sell copies of your work?
Patents
Copyrights
Trademarks
Registered Designs
If a company develops a new technology that improves its product,what type of IP they use to stop others from copying?
Patents
Copyrights
Trademarks
Trade Secrets
How long does the term of copyright for an author lasts?
Life of the Author plus 70 years
20 years from the date of filing
Life of the Author
50 years
Which of the following is not a type of patent?
Utility patents
Copyright
Design patents
Plant Patents
Basically Intellectual Property Rights protect the use of information and ideas that are of
Social Value
Moral Value
Commercial Value
Ethical Value
The worldwide computer network that links thousands of smaller networks
Software
Application
Internet
Modem
What is/are component of IT Act 2000 ?
Legal Recognition to Digital Signatures
Regulation of Certification Authorities.
Digital Certificates
All the above
Which of the following is not a Cyber Crime?
Data Theft
Forgery
Installing antivirus software
Damage to Data and systems
__________ means a person who has been granted a license to issue a Digital Signature Certificate.
Controller
Certifying Authority
Certified issuer
Licensed authority
What is the punishment for identity theft in IT Act?
Two year imprisonment or 1 lakh rupees penalty or both
Three year imprisonment or 1 lakh rupees penalty or both
Three year imprisonment or 2 lakh rupees penalty or both
None of the above
Which one is not a Method of ADR
Conciliation
Negotiation
Simplification
Village Panchayat
An Arbitrator does not have any power to terminate the ongoing procedure or proceedings of a dispute.
True
False
Parties come to their own agreements
Arbitration
Mediation
Negotation
Mediation is a formal method of Dispute Resolution.
The impartial 3rd party ....
Makes a final decision
Offers suggestions
Allows the parties to come to their own agreement
Decision is binding
Correct order of Dispute Resolution
1
Discuss issue with management
2
Negotiating
3
Mediation
4
Arbitration
1
Discuss issue with management
2
Mediation
3
Negotiating
4
Arbitration
1
Negotiating
2
Discuss issue with management
3
Mediation
4
Arbitration
1
Discuss issue with management
2
Negotiating
3
Arbitration
4
Mediation
