Umar Draz, Author at DocMCQs

What is the penalty for not keeping stock records?

A. No penalty

B. Only Rs. 10,000 fine

C. Up to 3 years jail or Rs. 1 million fine or both

D. Only warning

Correct answer is: C. Up to 3 years jail or Rs. 1 million fine or both

Failure to maintain stock records carries jail or fine.

Are companies also liable under the Act?

A. No

B. Yes, but only directors

C. Yes, including responsible officers unless due diligence proven

D. Only shareholders

Correct answer is: C. Yes, including responsible officers unless due diligence proven

Companies and responsible officers are liable.

Are trials under this Act summary in nature?

A. No, regular trials

B. Yes, summary in nature

C. Only by High Court

D. Only if both parties agree

Correct answer is: B. Yes, summary in nature

The Act requires summary trials for speed.

What is the maximum time limit for completing a summary trial under this Act?

A. 7 days

B. 15 days

C. 30 days

D. 90 days

Correct answer is: C. 30 days

Summary trials must be completed within 30 days.

Can an appeal be filed against a trial decision?

A. No appeal allowed

B. Yes, within 15 days

C. Yes, within 30 days

D. Only in High Court

Correct answer is: C. Yes, within 30 days

Appeal is allowed within 30 days.

Is there any reward for informers?

A. No

B. Yes, 5% of goods value

C. Yes, 10% of value upon conviction

D. Only government employees

Correct answer is: C. Yes, 10% of value upon conviction

Informers receive 10% reward after conviction.

Are protections for informers mentioned in the Act?

A. Yes, strong protections

B. No, no specific protections

C. Only partial

D. Confidential only

Correct answer is: B. No, no specific protections

Act does not explicitly mention protections.

Which of the following are examples of scheduled goods?

A. Toys, clothes, jewelry

B. Wheat, sugar, flour, fuel, masks, medicines, cement

C. Mobile phones, laptops, cars

D. None

Correct answer is: B. Wheat, sugar, flour, fuel, masks, medicines, cement

These are listed as scheduled essential goods.

Are fuel and medicines included in the scheduled goods?

A. No

B. Yes

C. Only fuel

D. Only medicines

Correct answer is: B. Yes

Both fuel and medicines are explicitly included.

Does the Act also cover producers and wholesalers?

A. No, only retailers

B. Yes, including producers and wholesalers

C. Only companies

D. Only importers

Correct answer is: B. Yes, including producers and wholesalers

Producers and wholesalers are covered under definition of dealer.

Author name: Umar Draz