CA Foundation Paper 2

Indian Regulatory Framework MCQ

Chapter 1 • 9 Questions from ICAI Study Material

Questions

9

Est. Time

7 min

Source

ICAI Book

Sample Questions: Indian Regulatory Framework

Preview 8 of 9 MCQs from Chapter 1

1. A Chartered Accountant should be aware of law because

A) He has to be an expert in law
B) He has to argue in High court and Supreme court
C) He has to advice management and clients on legal matters at a basic or threshold level ✓
D) None of the above

2. Which of the following is not a MAIN source of law in India?

A) Legal text books ✓
B) The Parliament
C) State Assemblies
D) The Constitution

3. In India we follow the federal system of Government. This means that

A) All the power is with the President of India
B) Powers are distributed between Centre and States ✓
C) All the power is with the Centre
D) There are no restrictions on the power of States

4. The Constitution of India was adopted in

A) 1947
B) 1949
C) 1950 ✓
D) 1951

5. The law concerned with violation of the rule of law and punishment of the same is called

A) Family law
B) Criminal law ✓
C) Civil law
D) Property law

6. Which of the following is NOT an example of Civil law?

A) Breach of contract
B) Non-delivery of goods
C) Traffic offenses ✓
D) Non-payment of dues

7. When a law is proposed in Parliament it is called

A) Act
B) Statute
C) Bill ✓
D) Notification

8. Which of the following is NOT a department of the Ministry of Finance?

A) Department of Economic Affairs
B) Department of Expenditure
C) Department of States ✓
D) Department of Revenue