MCQOPTIONS
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MCQOPTIONS
This section includes 17 Mcqs, each offering curated multiple-choice questions to sharpen your Cost Accounting knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
In Indian Law consideration must have been done at the desire of the promisor, if it is done at the instance of a third party or without the desire of the promisor, it is: |
| A. | Consideration |
| B. | Not Consideration |
| C. | Offer |
| D. | Promise |
| Answer» C. Offer | |
| 2. |
A threatened to commit suicide if his wife did not execute a sale deed in favour of his brother. The wife executed the sale deed. This transaction is |
| A. | voidable due to undue influence. |
| B. | voidable due to coercion. |
| C. | void being immoral |
| D. | void being forbidden by law. |
| Answer» C. void being immoral | |
| 3. |
Where the parties to a contract have agreed that a certain sum of money would be paid in case of breach of contract, the court will ensure that |
| A. | the exact amount mentioned in the contract is paid to the injured party. |
| B. | an amount not exceeding the stipulated amount is awarded. |
| C. | reasonable compensation not exceeding the amount stipulated is award |
| Answer» D. | |
| 4. |
A promises B to pay 100 if it rains on Monday and B promises A to pay 100 if it does not rain on Monday. This agreement is |
| A. | a valid agreement |
| B. | a voidable agreement |
| C. | a wagering agreement |
| D. | an illegal agreement |
| Answer» D. an illegal agreement | |
| 5. |
If the performance of contract becomes impossible because the subject matter of contract has ceased to exist then |
| A. | both the parties are liable |
| B. | neither party is liable |
| C. | only offeror is liable |
| D. | only acceptor is liable |
| Answer» C. only offeror is liable | |
| 6. |
The term Negotiable Instrument is defined in the Negotiable Instruments Act, 1881, under Section. |
| A. | 12 |
| B. | 13 |
| C. | 13A |
| D. | 2(d) |
| Answer» C. 13A | |
| 7. |
A and B agree that A shall pay 1000 for which B shall afterwards deliver to either rice or smuggled opium. In this case |
| A. | the first agreement is void and the second voidable. |
| B. | the first is voidable and the second is void. |
| C. | the first is valid and the second is vo |
| Answer» D. | |
| 8. |
________________ is a form of comb ination of buyers to prevent competition among themselves at an auction sale. |
| A. | Knock-out agreement |
| B. | Monopoly agreement |
| C. | Oligopoly agreement |
| D. | Puffing agreement |
| Answer» B. Monopoly agreement | |
| 9. |
In a Book depot a catalogue of book enlisting the price of each book and specifying the place where the particular book is available is |
| A. | an invitation to offer. |
| B. | an offer. |
| C. | an invitation to visit the book shop. |
| D. | None of the above |
| Answer» D. None of the above | |
| 10. |
What can a catalogue of books, listing price of each book and specifying the place where the listed books are available be termed as? |
| A. | An offer |
| B. | An obligation to sell book |
| C. | An invitation to offer |
| D. | A promise to make available the books at the listed |
| Answer» D. A promise to make available the books at the listed | |
| 11. |
A gives a recognizance binding him in a penalty of 500 to appear in the court on a certain day. He forfeits his recognizance. He is |
| A. | liable to pay the whole penalty. |
| B. | not liable to pay the penalty |
| C. | liable to pay partially |
| D. | none of the above |
| Answer» B. not liable to pay the penalty | |
| 12. |
Contracts contingent upon the non-happening of the future uncertain event becomes void when such event: |
| A. | Happen |
| B. | Does not happen |
| C. | The event becomes impossible |
| D. | None of the above |
| Answer» B. Does not happen | |
| 13. |
A agrees to sell to B a hundred tons of oil . There is nothing whatever to show what kind of oil was intended. The agreement is |
| A. | valid |
| B. | void for uncertainty |
| C. | voidable |
| D. | illegal |
| Answer» C. voidable | |
| 14. |
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 an |
| A. | Escrow Instrument |
| B. | Inchoate Instrument |
| C. | Ambigous Instrument |
| D. | None of the above |
| Answer» B. Inchoate Instrument | |
| 15. |
Which of the following is not a Negotiable Instrument as per the Negotiable Instrument Act, 1881? |
| A. | Bill of exchange |
| B. | Delivery note |
| C. | Cheque |
| D. | Share certificate |
| Answer» E. | |
| 16. |
Threatening to commit certain acts forbidden by Indi an Penal Code is asso ciated with which one of the following? |
| A. | Misrepresentation |
| B. | Fraud |
| C. | Coercion |
| D. | Unenforceable |
| Answer» D. Unenforceable | |
| 17. |
A makes a contract with B to buy his house for 50,000 if he is able to secure to bank loan for that amount. The contract is |
| A. | void for vagueness. |
| B. | wagering contract. |
| C. | contingent contract. |
| D. | voidable contract. |
| Answer» D. voidable contract. | |