Business Law Online Test Questions Part 4

16. _________ bank is the bank with which a person holds an account.

a. Negotiating
b. Credit
c. Debit
d. Collecting

Answer: d. Collecting

17. Every company must have

a. Easy name
b. A specific name
c. A name similar to existing name
d. Common name

Answer: b. A specific name

18. Match the Following

1] Documents required for opening an accounti] PAN Card, Address proof, Photographs
2] Reason for dishonour ii] Failure to present the cheque in bank within validity period of the cheque
3] Notice sent by registered post, not claimediii] Deemed to be proper service
4] Dishonour of chequeiv] Section 138
v] Section 168
vi] No delivery
a. 1-iii, 2-vi, 3-iv, 4-ii
b. 1-i, 2-ii, 3-iii, 4-iv
c. 1-v, 2-vi , 3-iv, 4-iii
d. 1-ii, 2-vi, 3-iv, 4-iii

Answer: b. 1-i, 2-ii, 3-iii, 4-iv

19. Whom is a cheque drawn on?

a. Banker
b. Endorsee
c. Drawer
d. Payee

Answer: c. Drawer

20. An agreement is lawful unless it __________

i] Is forbidden by law
ii] Involves money
iii] Is with an insane person
iv] Intends an injury to someone

a. Only i and ii  
b. Only i and iv
c. All i, iii, iv
d. All the above

Answer: c. All i, iii, iv