BUSINESS LAW - II (MCQS) MARCH - 2014

T.Y B. COM

SEMESTER - 6

BUSINESS LAW - II

MCQS = MARCH - 2014

1) In a partnership firm, the liability of partner is .............. 

a) Several only

b) Joint and several 

c) Joint or several

d) Joint only

2) Law of partnership is an extension to the law of.............. 

a) Agency 

b) Guarantee

c) Indemnity

d) None of these

3) A partner who does not take an active part in the conduct of the business of the firm is termed as............ 

a) Actual partner 

b) Nominal partner 

c) Partner by estoppels 

d) Sleeping partner

4) The Information Technology Act came into force in the year ............

a) 2003

b) 2001

c) 2000

d) 2002

5) The person who accepts the bill of exchange is termed as  ............  

a) Payee

b) Acceptor

c) Drawer

d) None of the above

6) In promissory note there are ............  parties. 

a) Five

b) Four

c) Three

d) Two

7) Which of the following statement is true?

a) All Promissory notes are bills of exchange but all bills of exchange are not promissory notes

b) All Promissory notes are cheques but all cheques are note promissory notes

c) All cheques are bills of exchange but all bills of exchange are not are cheques.

d) All cheques are promissory notes but all promissory notes are not cheques.

8) Which of the following is/are the characteristics of Negotiable Instrument?

a) Recovery

b) Freely transferability

c) Title of holder free from all defects

d) All of the above

9) In District forum the number of members are restricted to........... 

a) Eight

b) Seven

c) Two

d) Six

10) The pecuniary jurisdiction of state Commission is ................ 

a) Rs. 1 crore to Rs. 5 crore

b) Rs. 20 lakhs to Rs. 1 crore

c) Rs. 1 crore to Rs. 10 crore

d) Rs. 10 lakhs to Rs.1 crore

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