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org

Sikkim Manipal University LEGAL ASPECTS OF BUSINESS (MBA-3) MB0035

1. _________ Is a rule of action evolved to regulate social life & to avoid conflicts of interests. a. Contract b. Agreement c. Law d. None of the above 2. The Indian Contract act was formulated in a. 1987 b. 1937 c. 1872 d. 1873 3. ________ Is an agreement enforceable by law. a. Contract b. Law c. Void contract d. None of the above 4. ________ Is defined as every promise & every set of promises forming consideration for each other. a. Contract b. Agreement c. Law d. Void contract 5. True of False1. All contracts are agreements but all agreement need not to be contracts. 2. There must be consideration supporting every contract. a. 1-True, 2-False b. 1-True, 2-True c. 1-False, 2-False d. 1-False, 2-False

6. The different classes of contracts are1. Valid contract 2. Void contract 3. Void able contract

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4. Illegal contract 5. Unenforceable contract a. 1, 2, 3, 4 b. 1, 2, 3, 4, 5 c. 1, 2, 4, 5 d. 1, 2, 4, 5, 6 7. An agreement not enforceable by Law is said to be ___________. a. Voidable b. Invalid c. Void d. Illegal 8. _________ Contract is one, which is valid, but for certain technical reasons such as want of proof, expiry of period etc. becomes unenforceable. a. Void contract b. Void able c. Enforceable d. All of the above 9. The person mailing the proposal is called _________ & the person accepting it is called ________. a. Promisee, Promiser b. Promiser, Promisee c. Proposer, Proposee d. Proposee, Proposer 10. Essentials of a valid offer are1. Offer may be general or specific 2. Offer should be made with the intention of creating legal obligation 3. An offer should not be communicated to offer. 4. The terms & conditions should not be communicated. 5. Two identical offers do not make a contract. a. 1, 2, 5 b. 1, 2, 3, 4, 5 c. 2, 4, 5 d. 1, 4, 5

11. When a person to whom the proposal is made signifies his willingness there to the proposal is said to be _______. a. Acquired b. Offered c. Accepted d. None of the above

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12. Under _______ Law, the proposer is legally bound, by the acceptance effected through Postal medium when the Later is prepared, addressed, stamped and mailed even though it is delayed or lost in Transit. a. Indian law b. English Law c. Both A & B d. None of the above 13. If a minor obtains property or goods by misrepresentating his age, he can be compelled to restore it but only so long as the same is traceable in his possession. This doctrine is known as ________. a. Doctrine of rectification b. Doctrine of restitution c. Doctrine of beneficial contracts d. Doctrine of ratification 14. Sec ________ of contract act defines consent as Two or more person are said to consent where they agree upon the thing in the same sense. a. 12 b. 13 c. 10 d. 11 15. According to Sec. 14 consent is said to be free when it is not caused by ________. a. Coercion b. Undue influence c. Both A & B d. None of the above 16. ________ is the committing or threatening to commit any act forbidden by Indian Penal Code. a. Undue Influence b. Coercion c. Both A & B d. None of the above

17. Presumptions of coercion are a. Parent & child b. Religious advisor & disciple c. Doctor & Patient d. None of the above 18. In case of _______ contract is obtained by committing or threatening to commit an act punishable under Indian Penal Code and In case of __________ the consent is obtained by dominating the will of other. a. Undue influence, coercion b. Coercion, Undue influence

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19. A false statement made knowingly or without belief in its truth or recklessly careless whether it be true or false is called ________. a. Misrepresentation b. Mistake c. Fraud d. None of the above 20. In _____ the person making the false statement honestly believes it b true & in _________ the false statement is made by person who knows that it is false. a. Misrepresentation, fraud b. Fraud, Misrepresentation c. Mistake, Fraud d. Fraud, Mistake 21. ________ Mistake may be regarding the subject matter. a. Unilatered b. Bilaterd c. Common d. None of the above 22. _______ Defines consideration as the recompense given by the party contracting to the other. a. Pollack b. Blackstone c. William whiting d. Collins 23. True or False 1. Agreement made on account of natural love & affection can be without consideration. 2. For creating an agency no consideration is necessary.

a. 1-True, 2-False b. 1-True, 2-True c. 1-False, 2-False d. 1-False, 2-False 24. Mistake of one of the parties to a contract as to a matter of fact is known as _______ mistake. a. Bilateral mistake b. Unilateral mistake c. Both A and B d. None of the above 25. Match the following. 1. Mistake 2. Misrepresentation (i) Out of base promise no action arises. (ii) Misunderstanding or wrong thinking.

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3. Fraud 4. Consideration a. 1-ii, 2-iii, 3-iv, 4-i b. 1-iii, 2-I, 3-ii, 4-iv c. 1-i, 2-ii, 3-iii, 4-iv d. 1-iv, 2-iii, 3-ii, 4-I 26. When the rights & responsibility arising out of contract are extinguished, the contract is said to be _____. a. Discharged b. Terminated c. Both A & B d. None of the above 27. A contract is said to be discharged by _______ when it is performed by both the parties. a. By Mutual consent b. By performance c. By supervening d. By illegality 28. When the promiser offers to perform his obligation under the contract, but is unable to do so because the promisee does not accept the performance, it is called ________. a. Actual performance b. Attempted performance c. Valid performance d. None of the above (iii) The person making false statement honesty believes that it is true. (iv) Statement made knowingly or without belief in its truth.

29. ________ occurs when a new contract is substituted for an existing contract, either between the same parties or between different parties. a. Alteration b. Rescission c. Novation d. Remission 30. An agreement that releases the parties from their obligations arising out of the contract. a. Novation b. Alteration c. Rescission d. Remission 31. The methods of discharging a contract by mutual agreement are1. Novation 2. Alteration 3. Rescission

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4. Cancellation 5. Remission 6. Waiver a. 1, 2, 3, 4, 5, 6 b. 1, 2, 3, 4 c. 1, 2, 3, 5, 6 d. 2, 3, 4, 5, 6 32. ________ means the deliberate abandonment or giving up of a right which a party is entitled to under a contract. a. Rescission b. Novation c. Waiver d. None of the above 33. When the contract is discharged by subsequent impossibility, which of the following conditions must be fulfilled. 1. The act should have become impossible. 2. Possibility should not be self-imposed. 3. The act should not have become impossible

34. The cases, which are covered by supervening impossibility are1. Difficulty of performance 2. Commercial impossibility 3. Strikes & Lock-outs 4. Change of Law a. 1, 2, 3, 4 b. 2, 3, 4 c. 4 d. 3, 4 35. A contract may be discharged by1. By performance 2. By mutual consent 3. By subsequent impossibility 4. By lapse o time 5. By operation of Law 6. By one of the parties consent a. 1, 2, 3, 4, 5, 6 b. 2, 3, 4, 5, 6 c. 1, 2, 3, 4, 5 d. 1, 4, 5 36. Breach of contract may be two kinds-

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a. Anticipating breach b. Actual breach c. Mutual breach d. Approval breach a. 1, 2 b. 3, 4 c. 1, 4 d. 1, 3 37. _______ occurs when a party fails to perform his obligations upon the date fixed for performance of contract. a. Anticipatory Breach b. Mutual Breach c. Actual Breach d. None of the above

38. The different kinds of Damages are1. Ordinary or General 2. Special 3. Exemplary 4. Nominal 5. Actual 6. Anticipating a. 1, 2, 3, 4 b. 1, 2, 3, 4, 5, 6 c. 2, 3, 4, 5 d. 1, 3, 4, 6 39. _________ are such damages which are awarded with a view to punish the guilty party for the breach & not by way of compensation for the loss suffered by aggrieved party. a. Special damages b. Exemplary damages c. Nominal damages d. Anticipating damages 40. ________ are the damages which are awarded only for the name sake. a. Nominal damages b. Actual damages c. Both A & B d. None of the above 41. _______ means a sum fixed up in advance, which is a fair& genuine Pre-estimate of the probable loss that is likely to result from Breach of contract.

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a. Exemplary damages b. Liquidates damages c. Mitigate damage d. All of the above 42. _______ means as much as is earned. a. Caveat Emptor b. Quantum merit 43. _______ is an order of court restraining a person from doing a particular act. a. Suit for specific performance b. Suit for an injunction c. Suit upon quantum merit d. None of the above 44. ______ is a special type of contract where in one person promises the loss of other person. a. Contract of Guarantee b. Contract of Indemnity c. Contract of security d. All of the above 45. Section ________, ________ & _________ of Indian contract act deal with contract of indemnity. a. 123, 124, 125 b. 130, 131, 132 c. 124, 125, 127 d. 127, 128, 129 46. True or False1. There must be two parties in contract of indemnity. 2. A contract of Indemnity may be implied only. a. 1-True, 2-True b. 1-True, 2-False c. 1-False, 2-True d. 1-False, 2-False 47. ________ is a contract to perform the promise or discharge the liability of third person in case of his default. a. Contract of Indemnity b. Contract of Guarantee c. Contract of security d. None of the above 48. The person in respect of whose default the guarantee is given is called ________ & the person to whom guarantee is meant is called ________. a. Principal debtor, creditor

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b. Creditor, Principal debtor 49. Every contract of guarantee involves _________ parties agreement. a. 2 b. 3 c. 4 d. 5

50. Match the following1. Indemnity 2. Guarantee 3. Retrospective 4. Prospective a. 1-ii, 2-iii, 3-i, 4-iv b. 1-ii, 2-i, 3-iv, 4-iii c. 1-iv, 2-iii, 3-ii, 4-I d. 1-i, 2-ii, 3-iii, iv-4 51. A guarantee, which extends to a series of transactions is called ________ guarantee. a. Retrospective b. Prospective c. Containing d. Dis-continuing 52. True or False1. Guarantee may be for a part of a whole debt or for the whole debt subject to limit. 2. In a guarantee the liability of the surety is Co-extensive with that of the principal debtor. a. 1-True, 2-True b. 1-False, 2-False c. 1-False, 2-True d. 1-True, 2-False 53. The Rights of surety are1. Rights against the creditor 2. Rights against the principal debtor 3. Rights against co-sureties a. 1, 2 b. 1, 2, 3 c. 1, 3 d. None of the above 54. Rights of surety against the creditor includes(i) Three contracts (ii) Only one contract (iii) For future debt (iv) For existing debt

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1. Right to securities 2. Right to subrogation 3. Right to claim set off 4. Right to indemnity

a. 1, 2, 3, 4 b. 2, 3, 4 c. 1, 3 d. 1, 2, 3 55. Discharge of surety can be done througha. From the side of principal b. From the side of creditor c. Both A & B d. None of the above 56. Every contract of guarantee involves following agreements1. Agreement between creditor & principal debtor 2. Agreement between surety & creditor 3. Agreement between surety & principal a. 1, 2 b. 1, 2, 3 c. 1, 3 d. Only one 57. ________ are basically written promises or orders to pay money and may be transferred from person to person. a. Contracts b. Negotiable instruments c. Continuation guarantee d. None of the above 58. Negotiable instruments act deals with ______. 1. Promissory notes 2. Bills of exchange 3. Cheques 4. Draft a. 1, 2, 3, 4 b. 1, 2, 4 c. 1, 2, 3 d. 1, 4 59. Negotiable Instrument act was formulated in ________. a. 1942

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b. 1883 c. 1881 d. 1884 60. The word negotiable means ________. a. Written document b. Transferable by delivery c. Both a and B d. None of the above 61. Payable to ________ means payable to any person whom so ever bears it. a. Bearer b. Order c. Both A & b d. None of the above 62. Which of the following are negotiable instruments. 1. Postal orders 2. Fixed deposit receipts 3. Bills of exchange 4. Promissory notes a. 3, 4 b. 1, 2, 3, 4 c. 1, 3, 4 d. 1, 4 63. _________ is an instrument in writing containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to or to the order of certain person or to the bearer of instrument. a. Bill of exchange b. Promissory note c. Cheque d. None of the above 64. Parties to a bill of exchange are1. Drawer 2. Drawee 3. Payer 4. Payee a. 1, 2, 3 b. 1, 2 c. 1, 2, 4 d. Only 4 65. The person who makes the bill is called ________, the person who is directed to pay is called ______ and the person to whom the payment is made is called _________.

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a. Payer, Payee, Drawer b. Drawer, Drawee, payee c. Drawer, Payer, Payee d. Drawer, Payee, Drawee 66. Which of the following are essentials of bill of exchange. 1. It must be in writing. 2. It must be oral or writing 3. It must contain an order to pay. 4. The sum payable must not be certain. a. 1, 2, 3, 4 b. 1, 3 c. 1, 3, 4 d. Only 3 67. ________ is an order issued by one bank on another bank or on its own branch instructing the latter to pay a specified sum of money to a specified person or his order. a. Cheque b. Bank Draft c. Promissory notes d. All of the above 68. ________ are negotiable instruments written in Hindustani language. a. Promissory notes b. Hindus c. Bank Draft d. Cheque 69. ________ means any person who for consideration became the possessor of a negotiable instrument if payable to bearer, or payer or indorsee there of if payable to order. a. Holder b. Holder in due course c. Payer d. Payee 70. The process of transferring the title or ownership of negotiable instruments is called __________. a. Transfer b. Promise c. Negotiation d. None of the above 71. Which of the following are ways of transferring a negotiable instruments. 1. Negotiation by mere delivery 2. Negotiation by promise

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3. Negotiation by indorsement and delivery a. 1, 2 b. 1, 2, 3 c. 1, 3 d. Only 2 72. Different kinds of endorsements are 1. Blank or general indorsement 2. Special indorsement 3. Partial indorsement 4. Restrictive indorsement 5. Impartial indorsement a. 1, 2, 3, 4, 5 b. 1, 2, 3, 4 c. 2, 3, 4, 5 d. 1, 3, 4, 5 73. ________ is an indorsement which, by express words, prohibits the indorsee from further negotiating the instrument. a. General indorsement b. Partial indorsement c. Restrictive indorsement d. None of the above 74. If the endorser signs his name only & does not specify the name of the indorsee, the indorsement is said to be _________. a. Special b. Blank or General c. Restriction d. Conditional indorsement 75. A negotiable instrument may be dishonored by ________. a. Non-payment b. Non-acceptance c. Both A and B d. None of the above

76. ________ implies an association of a number of persons for some common objective. a. Company b. Corporation

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c. Both a & b d. None of the above 77. Which one of the following is characteristic of a company. 1. Artificial persons 2. Independent corporate existence 3. Peripheral existence 4. Unlimited liability a. 1, 2, 3 b. 2, 3 c. 1, 2, 3, 4 d. 1, 2, 4 78. ________ companies are created & regulated by the king or queen in exercise of an ancient prerogative vested in crown. a. Statutory Company b. Royal or chartered companies c. Registered companies d. None of the above 79. _______ company is one which is formed and registered under the companies Act, 1956 or under any earlier companies Act is force in India. a. Registered companies b. Private companies c. Statutory company d. Royal companies 80. When the liability of the members of a company is limited up to the unpaid value of their shares, it is called a _____. a. Company limited by guarantee b. Company limited by shares c. Both a & b d. None of the above 81. A company which contracts another company is known as ________ and the company so controlled is termed as a _______. a. Subsidiary company, holding b. Holding company, subsidiary company c. Foreign company, holding company d. Unlimited company, holding company 82. The process of formulation of company can be divided into ______. 1. Promotion 2. Incorporation or Registration 3. Capital subscription 4. Commencement of business

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a. 1, 2, 3 b. 1, 2, 3, 4 c. 1, 3, 4 d. 1, 2, 4 83. _________ of a company is comprehensive term denoting that process by which a company is incorporated & floated or established financially as a joint concern by the issue a prospectus. a. Incorporation b. Promotion c. Both a & b d. None of the above 84. _______ is a character of the company. a. Memorandum of association b. Articles of associates c. Copy of proposed d. None of the above 85. ________ contains the rules & regulations relating to the internal management of the company. a. Promotion b. Incorporation c. Articles of association d. Registration 86. True or False: 1. The memorandum contains the fundamental conditions upon which alone the company is allowed to be incorporated. 2. The memorandum is the foundation on which the whole super structure of company is built-up. a. 1-false, 2-false b. 1-true, 2-true c. 1-false, 2-true d. 1-true, 2-false 87. Which one of the following are contents of memorandum. a. Name clause b. The situation clause c. The object clause d. Consent of the director e. Article of association a. 1, 2, 3, 4, 5 b. 1, 2, 3 c. 1, 4, 5 d. 1, 3, 5 88. Which one of the following are contents by articles of association.

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1. Share capital & variation of rights 2. The companys lien on the shares 3. Calls on shares 4. Liability clause 5. Association & subscription clause a. 1, 2, 3, 4, 5 b. 1, 2, 3, 5 c. 1, 2, 3 d. 1, 4, 3 89. A document containing detailed information about the company and an invitation to the public for subscribing to the share capital & debentures issued is called ________. a. Prospectus b. Authorized capital c. Shares d. Debentures 90. ________ is the capital which is stated in companys memorandum of association with which the company intends to be registered. a. Called up capital b. Authorized capital c. Issued capital d. None of the above 91. _________ is that part of issued capital which has been actually subscribed by public. a. Called up capital b. Subscribed capital c. Both a & b d. None of the above 92. ________ is part of the uncalled capital which cannot be called by the company except in the event of its winding up. a. Authorized capital b. Reserve capital c. Paid-up capital d. Called-up capital 93. ________ is a share in the share capital of a company & includes stock except where a distinction between stock and shares is expressed or implied. a. Paid-up capital b. Share c. Reserve capital d. None of the above 94. Which one of the follow8ing are types of shares-

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1. Preference shares 2. Equity shares 3. Deferred a. 1, 2 b. 1, 2, 3 c. Only one d. 1, 3 95. ______ are those shares which carry a right to be paid a fixed amount of dividends or the amount of dividend calculated at a fixed rate. a. Equity shares b. Preference shares c. Deferred shares d. All of the following 96. Which one of the following are the types of preference shares1. Cumulative preference shares 2. Non-Cumulative preference shares 3. Participating preference shares 4. Redeem ask preference shares a. 1, 2, 3, 4 b. 1, 2, 3 c. 1, 2 d. 1, 4 97. ______ shares are entitled to dividend at a fixed rate whether there are profits or not. a. Cumulative preference shares b. Non-cumulative preference shares c. Redeem ask preference shares d. Convertible preference shares 98. The holders of ________ shares have a right to convert these shares into equity shares within a certain period. a. Convertible b. Redeemable c. Non-participating d. Cumulative 99. The persons who are in charge of the management of the affairs of a company are called ________. a. Manager b. Director c. Secretary d. None of the above 100. According to section ________, manager means an individual who has the management of the whole or virtually the whole of the affairs of a company under his control.

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a. Section 2 (24) b. Section 2 (25) c. Section 2 (26) d. Section 2 (27) 101. _________ means an individual who has the management of the whole or virtually the whole of the affairs of a company under his control. a. Director b. Manager c. Secretary d. None of the above 102. _______ may be generally defined as a gathering or assembling or getting together of a number of persons for transacting any lawful business. a. Gathering b. Meetings c. Union d. None of the above

103. _________ meetings are known as general meeting of the members within are held to exercise their collective rights. a. Statutory meeting b. Shareholders meeting c. Meeting of Di9rectors d. Annual general meeting 104. ________ meeting is required to be held by every company, public or private, annually for the purpose of transacting the companys ordinary business. a. Statutory meeting b. Annual general meeting c. Extra-ordinary general meeting d. Subsequent annual general meeting 105. ________ is an artificial person invisible, intangible and existing only in the eyes of law. a. Company b. Joint stock company c. Organization d. None of the above 106. The affairs of a company are managed by ________. a. Managers b. Board of directors c. Secretary

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d. All of the above 107. _______ laws have been passed to give effect to the UN resolutions and to promote efficient delivery of government services by means of reliable electronic records. a. Companies act 1956 b. Consumers act 1930 c. Information tech. Act d. Negotiable instrument act 108. ________ means authentication of any electronic record by subscriber by means of an electronic method or procedure in accordance with the provisions of section 3. a. Digital signature b. Cyber law c. Legal signature d. None of the above 109. ________ is the term used to describe the legal issues related to use of communication technology. Particularly cyberspace. a. Digital signature b. Cyber law c. Cyber crime d. All of the above 110. ________ refers to all the activities done with criminal intent in cyberspace or using the medium of internet. a. Cyber law b. Cyber crime c. Digital signature d. None of the above 111. Which one of the following is the category of Cyber Crime? a. Cyber crimes against persons b. Cyber crime against property c. Cyber crimes against government d. All of the above 112. Tampering with computer source document is a crime under section ________. a. 62 b. 63 c. 65 d. 67 113. Any subscriber may authenticate an electronic record by affixing _________. a. Digital signature b. Cyber law c. Both a and b

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d. None of the above 114. The purpose of ________ is to provide quick redressed to commercial disputes by private arbitration. a. Conciliation act b. Arbitration act c. Dispute act d. Dispute resolution act 115. ADR stands fora. Alternate dispute resolution b. Almost dispute resolution c. Alternative dispute restitution d. None of the above 116. Which one of the following are not referred to arbitration. 1. Taxation 2. Suit for divorce of admitted liability 3. Non payment of admitted liability 4. Criminal matters a. 1, 2, 3, 4 b. 1, 2, 3 c. 1, 2 d. Only one 117. Which of the following are essentials of arbitration agreements. 1. It must be in writing 2. It must have all essential element of valid contract 3. It must be oral or in writing 4. The agreement must be to refer a dispute, present or future, between the parties to arbitration a. 1, 2, 3, 4 b. 1, 2 c. 1, 2, 4 d. 1, 3 118. Which of the following are modes of arbitration. 1. Arbitration without the intervention of the court. 2. Arbitration with the intervention of the court when there is no suit pending 3. Arbitration with the intervention of the court where a suit is pending a. 1, 2 b. 1, 2, 3 c. 1, 3 d. Only 1 119. Which of the following can be referred to arbitration.

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1. Disputes concerning movable property 2. Disputes arising out of beaches of contract 3. A claim of custody of wife 4. Lunacy proceedings a. 1, 2 b. 1, 2, 3, 4 c. 1, 2, 3 d. 1, 2, 4 120. _________ is a person selected by mutual consent of the parties to settle the matters in controversy between them. a. Conciliator b. Adjudicator c. Arbitrator d. None of the above 121. _______ Section provides that parties are free to agree on the place of arbitration. a. 20 (2) b. 20 (1) c. 21 d. 23 122. ________ means a final decision or judgment of the arbitral tribunal on all matters referred to it. a. Award b. Recognition c. Appraisal d. None of the above 123. Which of the following are essentials of arbitral award. 1. An arbitration agreement is required to be in writing 2. The award is to be signed by the members of the arbitral 3. Arbitrator must give reasons for the award a. 1, 2 b. Only 1 c. 1, 2, 3 d. 1, 3 124. In ________ proceedings, there is no agreement for arbitration. a. Arbitration b. Conciliation c. Mediation d. Negotiation 125. ________ is a dispute resolution process in which the parties freely choose to participate and any agreement reached to settle disputes is done solely by the parties without interference.

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a. Mediation b. Negotiation c. Conciliation d. Arbitration 126. Costs of the arbitration are disposed of in the ________. a. Arbitrator is award b. Arbitration agreement c. Both a and b d. None of the above 127. ________ means any person who buys any goods for consideration which has been paid or promised. a. Manager b. Consumer c. Agent d. All of the above 128. Which one of the following are not consumers. 1. A person who purchased goods for resale. 2. A person who purchased goods for commercial purposes. a. 1, 2 b. Only one c. Only 2 129. A product is said to have _______ defect when it is not build according to specification and is consequently unsafe. a. Design Defect b. Manufacturing Defect c. Instruction Defect d. None of the above 130. A Consumer Disputes Redressal Forum is also known as ________. a. Redressal Forum b. National Forum c. District Forum d. State Forum 131. Three types of defects are 1. Manufacturing Defect 2. Design Defect 3. Instruction Defect 4. Operation Defect 5. Technical Defect a. 1, 2, 3

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b. 2, 3, 4 c. 1, 3, 5 d. 1, 2, 5 132. _________ means any trade practice which requires a consumer to buy, hire or avail of any goods or as the case may be, services as a condition precedent for buying, hiring or availing of other goods or services. a. Unfair trade practices b. Restrictive trade practices c. Both a & b d. None of the above 133. _________ means a consumer Dispute Redressal Forum, established under section 9(2) of the consumer protection act, 1986. a. National consumer Dispute Redressal Commission b. Consumer Disputes Commission c. District Forum d. State Forum 134. The central council consists __________ members. a. 120 b. 150 c. 130 d. 140 135. The three consumer disputes redressal agencies are 1. Consumer disputes redressal forum 2. Consumer disputes redressal commission 3. National consumer disputes redressal commission 4. Central council 5. National commission a. 1, 2, 3 b. 1, 3, 4 c. 1, 2, 4 d. 1, 2, 5 136. _________ means a person wholly or partially employed for hire, wages including salary, reward or commission & in connection with any establishment & includes apprentice but does not include of the employer family. a. Child b. Young person c. Consumer d. Employee 137. A ________ means an association of a right by one party & repudiation there by another. a. Dispute b. Mediation

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c. Redressal d. None of the above 138. In _______, the facilitators role is to keep the parties talking & bargaining. a. Mediation b. Negotiation c. Arbitration d. All of the above 139. _________ is an informal process in which the conciliator tries to bring the disputants to agreement. a. Arbitration b. Conciliation c. Negotiation d. All of the above 140. _________ receive dividends out of profits after ________ have been paid their fixed dividend. a. Equity shareholders b. Preference shareholders c. Preference shareholders, Equity shareholder d. Deferred shareholders, Equity shareholders

ANSWERS
1. c 8. c 15. c 22. b 29. c 36. a 43. b 50. b 57. b 64. c 71. c 2. c 9. b 16. 23. b 30. c 37. c 44. b 51. b 58. c 65. b 72. b 3. a 10. a 17. d 24. b 31. c 38. a 45. c 52. a 59. c 66. b 73. c 4. b 11. c 18. 25. a 32. c 39. b 46. b 53. b 60. b 67. b 74. b 5. a 12. b 19. c 26. c 33. a 40. a 47. b 54. c 61. a 68. b 75. c 6. b 13.b 20. a 27. b 34. c 41. b 48. b 55. c 62. a 69. b 7. c 14. b 21. b 28. b 35. c 42. b 49. b 56. b 63. b 70. c

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76. a 84. a 92. b 100. a 108. b 116. a 124. c 132. b 140. a 77. a 85. c 93. b 101. b 109. b 117. c 125. a 133. c 78. d 86. b 94. b 102. b 110. d 118. b 126. b 134. b 79. a 87. b 95. b 103. b 111. d 119. a 127. b 135.a 80. b 88. c 96. a 104. b 112. c 120. c 128. a 136. d 81. b 89. a 97. a 105. b 113. a 121. b 129. b 137. a 82. b 90. b 98. a 106. b 114. b 122. a 130. b 138. b 83.b 91.b 99. b 107. c 115. a 123. c 131. a 139. b