Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Business Laws and Ethics Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email Area Pin Code 1. Under the Indian Contract Act, 1872, which of the following statements is TRUE? Past consideration is valid in India An agreement without consideration is always valid An offer can be revoked after acceptance Acceptance must always be in writing None 2. Which section of the Companies Act, 2013 deals with the Articles of Association? Section 2(5) Section (5) Section 10 Section 15 None 3. What is the maximum number of directors allowed in a private company? 5 10 15 No limit None 4. A quasi-contract is: A contract created by express agreement An implied contract A contract enforceable by equity A contract with no consideration None 5. Which section of the Companies Act, 2013 deals with the incorporation of a company? Section 3 Section 7 Section 10 Section 12 None 6. Which of the following is NOT a type of crossing on a cheque? General crossing Special crossing Account crossing Restrictive crossing None 7. Which of the following agreements is void as per the Indian Contract Act, 1872? Agreement in restraint of trade Agreement with consideration Agreement with lawful object Agreement to sell goods None 8. Under the Companies Act, 2013, the Registered Office of a company must be established within: 15 days of incorporation 30 days of incorporation 45 days of incorporation 60 days of incorporation None 9. Which section of the Indian Partnership Act, 1932 deals with the liability of a partner? Section 18 Section 25 Section 32 Section 45 None 10. The doctrine of “Indoor Management” protects: Outsiders dealing with the company in good faith The directors of the company The employees of the company The creditors of the company None 11. Which of the following is a key characteristic of ethical decision-making? Avoiding stakeholder interests Ignoring legal requirements Balancing profit and fairness Focusing only on profitability None 12. The term “Transparency” in ethics means: Open communication and disclosure Keeping information confidential Avoiding conflicts of interest Ignoring stakeholders None 13. Which of the following is NOT an ethical issue in advertising? False claims Misleading visuals Fair pricing Unethical targeting of vulnerable groups None 14. What does "Ethical Leadership" emphasize? Profit maximization only Leading by example Avoiding employee concerns Ignoring social responsibility None 15. Which ethical principle is violated when a company misuses customer data? Integrity Confidentiality Justice Transparency None 16. Which ethical theory promotes actions that ensure the greatest happiness for the greatest number? Utilitarianism Deontology Virtue Ethics Ethical Egoism None 17. An organization engages in ethical behavior when it: Exploits its employees for higher productivity Prioritizes fairness over profits Encourages child labor to reduce costs Withholds critical information from stakeholders None 18. Which of the following is NOT a benefit of ethical practices in business? Increased customer loyalty Improved employee satisfaction Increased regulatory fines Enhanced reputation None 19. CSR primarily focuses on: Profit maximization Responsibility towards society and the environment Avoiding competition Reducing stakeholder involvement None 20. What is the role of a “Code of Conduct” in a company? Outline legal procedures Promote ethical behavior and accountability Set financial targets Define management hierarchy None 21. Under the Companies Act, 2013, a listed company must hold its first AGM within: 6 months from the end of the financial year 9 months from the end of the financial year 3 months from incorporation 12 months from incorporation None 22. What does “Doctrine of Ultra Vires” mean? Acts beyond the company’s powers are void Directors have unlimited authority Shareholders are liable for company losses Employees can override company decisions None 23. A contract becomes voidable when consent is obtained through: Coercion Undue influence Fraud All of the above None 24. Which type of resolution is required for altering the Articles of Association? Ordinary resolution Special resolution Unanimous resolution None of the above None 25. Under the Negotiable Instruments Act, 1881, who can cross a cheque? Drawer Holder Banker All of the above None 26. What is the primary objective of business ethics? Maximizing profits Encouraging responsible behavior and decision-making Eliminating competition Avoiding taxes None 27. Under the Consumer Protection Act, 2019, complaints can be filed by: A consumer A legal heir of the consumer A consumer association All of the above None 28. What does “Quantum Meruit” mean under the Indian Contract Act? As much as is earned The quantum of damages The termination of an agreement The assignment of a contract None 29. The primary ethical issue in e-commerce is related to: Fast delivery Data privacy and security Low pricing Increasing profits None 30. Which of the following is NOT a negotiable instrument under the Negotiable Instruments Act, 1881? Cheque Bill of Exchange Promissory Note Fixed Deposit Receipt None 31. Which section of the Companies Act, 2013 specifies provisions for CSR? Section 132 Section 135 Section 140 Section 150 None 32. What is the quorum for a board meeting in a public company? 2 directors or 1/3rd of total strength, whichever is higher 3 directors Majority of the directors All directors must be present None 33. Which type of crossing makes a cheque non-negotiable? General crossing Special crossing Restrictive crossing None of the above None 34. Which of the following is an ethical issue in workplace diversity? Gender equality Discrimination based on race or religion Providing equal opportunities Respect for cultural differences None 35. What does the principle of “Equity” in ethics mean? Treating everyone equally Treating individuals fairly based on their needs Ensuring maximum profits Ignoring employee concerns None 36. A minor can enter into a contract for: Buying luxury goods Necessities of life Business purposes Personal services None 37. Which of the following is NOT an element of fraud under the Indian Contract Act, 1872? Active concealment of facts Promise made without intention to perform Honest misrepresentation of facts Deceiving another party None 38. Who is responsible for issuing the Certificate of Incorporation to a company? Board of Directors Registrar of Companies Ministry of Corporate Affairs Shareholders None 39. Which of the following is NOT an essential of a valid contract? Competent parties Lawful consideration Written form Free consent None 40. Which Act governs the principles of corporate governance in India? Indian Contract Act, 1872 Companies Act, 2013 Consumer Protection Act, 2019 Negotiable Instruments Act, 1881 None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test. Look out for results and future opportunities. Stay Connected !! Your quiz time is about to finish. Few seconds left. Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
