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 State 1. Which of the following is a primary objective of business ethics? Profit maximization Fair and responsible practices Avoiding competition Increasing market share None 2. Which ethical principle is violated by insider trading? Justice Integrity Fidelity Non-maleficence None 3. What does “Conflict of Interest” in ethics refer to? A conflict between two companies A situation where personal interests clash with professional responsibilities A disagreement between employees An ethical dispute in decision-making None 4. What is the primary focus of Corporate Social Responsibility (CSR)? Maximizing shareholder value Contributing to social and environmental well-being Avoiding regulatory compliance Reducing competition None 5. An ethical workplace ensures: Equal opportunities for all employees Discrimination in promotions Longer working hours without compensation Withholding benefits None 6. What does the term “Whistleblowing” mean in ethics? Reporting unethical practices within an organization Ignoring workplace misconduct Favoring unethical behavior Avoiding responsibility None 7. Which of the following is NOT an ethical issue in marketing? Price fixing False advertising Targeting vulnerable groups Providing detailed product information None 8. Which of the following ethical principles emphasizes “doing good”? Non-maleficence Fidelity Beneficence Justice None 9. An organization practicing sustainability will: Use resources responsibly for future generations Exploit natural resources for short-term profits Focus only on economic goals Ignore environmental responsibilities None 10. Which of the following is an unethical practice in HR management? Providing competitive compensation Offering equal opportunities Promoting diversity Discrimination in hiring None 11. What is the minimum number of members required to incorporate a public company under the Companies Act, 2013? 2 5 7 10 None 12. Which section of the Companies Act, 2013 deals with Corporate Social Responsibility (CSR)? Section 128 Section 135 Section 150 Section 129 None 13. Which of the following contracts is void under the Indian Contract Act, 1872? Contract with free consent Contract with lawful consideration Contract with a minor Contract with competent parties None 14. What is the penalty for not holding an Annual General Meeting (AGM) under the Companies Act, 2013? ₹50,000 ₹1,00,000 ₹5,00,000 ₹10,00,000 None 15. Under the Indian Partnership Act, 1932, which of the following dissolves a partnership firm? Retirement of a partner Admission of a new partner Death of a partner Change in business location None 16. Which section of the Indian Contract Act, 1872 deals with “Misrepresentation”? Section 16 Section 17 Section 18 Section 19 None 17. Under the Consumer Protection Act, 2019, a complaint can be filed with a District Commission if the value of goods is: Up to ₹20 lakh Up to ₹50 lakh Up to ₹1 crore Above ₹1 crore None 18. Which of the following is a breach of ethical responsibility towards customers? Providing quality products False advertising Clear labeling Ensuring product safety None 19. What does the principle of “Justice” in ethics emphasize? Equal treatment for all Maximizing profits Ignoring employee grievances Avoiding fairness in policies None 20. Under the Companies Act, 2013, the Board of Directors must meet at least how many times in a year? Once Twice Four times Six times None 21. Which of the following contracts is voidable at the option of the victim under the Indian Contract Act, 1872? Agreement with a minor Contract made under undue influence Contract made with mutual consent Contract with a lawfully competent party None 22. Which section of the Indian Companies Act, 2013 deals with the registration of a company? Section 3 Section 4 Section 5 Section 6 None 23. Under the Indian Partnership Act, 1932, what is the maximum number of partners allowed in a banking partnership? 10 20 50 None 24. Which section of the Indian Contract Act, 1872 deals with “Misrepresentation”? Section 16 Section 17 Section 18 Section 19 None 25. Under the Consumer Protection Act, 2019, a complaint can be filed with a District Commission if the value of goods is: Up to ₹20 lakh Up to ₹50 lakh Up to ₹1 crore Above ₹1 crore None 26. Which of the following is a breach of ethical responsibility towards customers? Providing quality products False advertising Clear labeling Ensuring product safety None 27. What does the principle of “Justice” in ethics emphasize? Equal treatment for all Maximizing profits Ignoring employee grievances Avoiding fairness in policies None 28. Under the Companies Act, 2013, the Board of Directors must meet at least how many times in a year? Once Twice Four times Six times None 29. Which of the following contracts is voidable at the option of the victim under the Indian Contract Act, 1872? Agreement with a minor Contract made under undue influence Contract made with mutual consent Contract with a lawfully competent party None 30. Which section of the Indian Companies Act, 2013 deals with the registration of a company? Section 3 Section 4 Section 6 Section 8 None 31. Under the Indian Partnership Act, 1932, what is the maximum number of partners allowed in a banking partnership? 10 20 50 100 None 32. What is the penalty for violating the provisions of CSR (Corporate Social Responsibility) under Section 135 of the Companies Act, 2013? Fine of ₹50,000 to ₹25,00,000 Imprisonment for up to 6 months Fine of ₹1 lakh to ₹10 lakh Suspension of operations None 33. Which of the following is a feature of a private limited company? It must have at least 7 members It can raise funds from the public It is not allowed to issue shares to the public It must have a minimum paid-up capital of ₹10 lakhs None 34. A person who is entitled to receive payment under a promissory note is called the: Holder Drawer Payee Endorser None 35. Which section of the Indian Contract Act, 1872 deals with a contract entered into by mistake? Section 19 Section 20 Section 21 Section 22 None 36. Under the Companies Act, 2013, a director must hold a minimum number of shares in the company. What is the minimum? 1 share 2 share 5 share 10 share None 37. Which section of the Companies Act, 2013 governs the powers of the board of directors? Section 173 Section 173A Section 128 Section 186 None 38. Under the Negotiable Instruments Act, 1881, who is responsible for dishonor of a cheque? Payee Drawer Bank Payor None 39. Which ethical theory focuses on the outcomes or consequences of actions? Virtue ethics Deontological ethics Teleological ethics Ethical relativism None 40. Which of the following is NOT a characteristic of ethical leadership? Transparency Accountability Deception for personal gain Leading by example 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!
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 State 1. What is the primary purpose of the Indian Contract Act, 1872? To govern criminal activities To regulate trade practices To enforce agreements and obligations To define tax laws None 2. Which of the following is NOT an essential element of a partnership? Mutual agency Sharing of profits Unlimited liability Separate legal entity None 3. A contract is void if: It is made with free consent It involves unlawful consideration It is made by competent parties It is enforceable by law None 4. Under the Companies Act, 2013, what is the minimum paid-up capital for a private company? ₹1 lakh ₹5 lakh ₹10 lakh No minimum limit None 5. Which section of the Companies Act, 2013 deals with the Director Identification Number (DIN)? Section 152 Section 153 Section 162 Section 169 None 6. Under the Negotiable Instruments Act, 1881, which of the following is NOT a negotiable instrument? Cheque Promissory note Fixed deposit receipt Bill of exchange None 7. Which of the following is NOT required for a valid consideration under the Indian Contract Act? It must be lawful It must have monetary value It can be past, present, or future It must move at the desire of the promisor None 8. The term “novation” under the Indian Contract Act refers to: Substitution of a new contract in place of an old one Termination of a contract Revocation of an offer Breach of contract None 9. Which section of the Companies Act, 2013 deals with the removal of a director? Section 169 Section 149 Section 152 Section 159 None 10. The minimum number of members required to incorporate a Limited Liability Partnership (LLP) is: 1 2 3 7 None 11. Which ethical principle is violated when misleading advertisements are published? Justice Integrity Transparency Beneficence None 12. Which of the following is an example of ethical behavior in business? Creating a competitive, inclusive workplace Price manipulation in the market Ignoring environmental policies Bribing suppliers for better rates None 13. Which of the following ethical issues involves the treatment of employees in an organization? Offering fair wages and good working conditions Discrimination based on gender Offering regular promotions Treating employees with respect None 14. What is the primary focus of corporate governance? Maximizing profits at any cost Protecting shareholder interests while ensuring ethical management Avoiding taxes Ignoring customer satisfaction None 15. Which section of the Companies Act, 2013 governs the powers of the board of directors? Section 173 Section 173A Section 128 Section 186 None 16. Which of the following ethical principles ensures fairness in the workplace? Autonomy Justice Beneficence Fidelity None 17. Which of the following practices is considered unethical in business? Fair competition Transparency in pricing Price gouging during emergencies Employee welfare programs None 18. Which principle of business ethics is violated when a business deceives customers about the safety of its product? Integrity Accountability Transparency Non-maleficence None 19. Which of the following is a significant issue in corporate ethics regarding employee treatment? Providing employee benefits Equal pay for equal work Child labor Fair promotions None 20. What does the term "Corporate Social Responsibility (CSR)" refer to? Social obligations fulfilled only when profits are high Voluntary commitment by companies to contribute to society A mandatory legal obligation for all companies A process for filing tax returns None 21. Which of the following is an unethical workplace practice? Encouraging diversity Providing a safe working environment Discrimination based on race Offering competitive salaries None 22. Which ethical principle emphasizes "doing no harm"? Autonomy Non-maleficence Justice Fidelity None 23. What is the primary focus of ethics in business? Profit maximization Ensuring fair and responsible practices Reducing competition Avoiding legal obligations None 24. Which of the following is an ethical issue in e-commerce? Transparent billing Data privacy breaches Faster delivery Competitive pricing None 25. Which of the following is an ethical responsibility of a company towards its employees? Ignoring employee grievances Offering fair wages and working conditions Maximizing profits without regard for employees Enforcing strict unpaid overtime policies None 26. What is an ethical dilemma? A situation where there is a conflict between ethical principles A situation with only one right answer A situation where ethics can be ignored A situation with no wrong answers None 27. Which of the following is NOT an ethical principle in business? Integrity Respect Greed Accountability None 28. Ethics training programs in organizations are aimed at: Increasing profits Promoting ethical decision-making and behavior Eliminating competition Reducing employee training costs None 29. Which section of the Companies Act, 2013 requires a company to maintain proper books of accounts? Section 128 Section 129 Section 130 Section 131 None 30. What is the primary role of the Registrar of Companies (RoC)? Approving company budgets Supervising board meetings Registering and regulating companies Managing shareholder disputes None 31. Under the Indian Contract Act, 1872, when does an offer become a promise? On revocation of the offer On rejection of the offer On acceptance of the offer On breach of contract None 32. Which of the following is NOT a feature of a valid contract? Free consent Lawful consideration Written form only Competent parties None 33. What does the term “Doctrine of Constructive Notice” mean? Assumption that public documents of a company are known to outsiders A company is liable for all acts of its directors Shareholders are exempt from liability Only directors are aware of company rules None 34. Under the Consumer Protection Act, 2019, a complaint can be filed by: A consumer A registered consumer association A legal heir of a consumer All of the above None 35. What is the limitation period for filing a consumer complaint under the Consumer Protection Act, 2019? 1 year 2 years 3 years 5 years None 36. Which of the following does NOT constitute a breach of contract? Non-performance of an agreed act Actual breach Anticipatory breach Performance of an agreed act None 37. Which section of the Companies Act, 2013 deals with financial statements? Section 129 Section 128 Section 133 Section 134 None 38. What is the minimum subscription under the Companies Act, 2013? 50% of the shares offered 75% of the shares offered 90% of the shares offered 100% of the shares offered None 39. Which section of the Indian Contract Act, 1872 defines “consideration”? Section 2(a) Section 2(d) Section 3 Section 5 None 40. Which type of contract is formed when a person finds and returns a lost item? Express contract Implied contract Quasi-contract Contingent contract 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!
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 State 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!
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 State 1. Under the Companies Act, 2013, which section defines a “Small Company”? Section 2(85) Section 2(68) Section 2(20) Section 2(72) None 2. Which of the following is a feature of a "Crossed Cheque"? It can be cashed directly It can only be deposited into a bank account It is valid only for a day It has no transferability None 3. Which of the following is NOT a feature of a contract of indemnity? Involves two parties Promise to save another from loss Covers only past losses Governed by the Indian Contract Act, 1872 None 4. The purpose of the Consumer Protection Act, 2019 is to: Promote consumer awareness Eliminate all disputes Reduce competition Promote sales None 5. Who appoints the first auditor of a company other than a government company? Board of Directors Shareholders Registrar of Companies Central Government None 6. The minimum subscription under the Companies Act, 2013 must be received within: 30 days from the issue of the prospectus 60 days from the issue of the prospectus 90 days from the issue of the prospectus 120 days from the issue of the prospectus None 7. The "Rule of Law" in ethics means: Every individual is subject to the same laws Businesses can bypass laws for profit Special rules apply to influential individuals Laws do not apply to businesses None 8. The Doctrine of Ultra Vires applies to: Acts outside the authority of the company Acts within the authority of the company All legal agreements Acts done in bad faith None 9. The "Golden Rule" in ethics is: Treat others as you want to be treated Always seek personal gains Avoid legal obligations Profit above all None 10. Which section of the Indian Partnership Act, 1932 deals with the dissolution of a firm? Section 35 Section 39 Section 45 Section 50 None 11. Which section of the Companies Act, 2013 deals with Annual General Meetings? Section 92 Section 96 Section 101 Section 110 None 12. Which type of meeting is mandatory for listed companies under the Companies Act, 2013? Board Meeting Annual General Meeting Class Meeting Statutory Meeting None 13. What is the purpose of a prospectus issued by a company? To invite subscriptions for shares To outline the duties of directors To define the objectives of the company To prepare annual reports None 14. The term “Fraud” under the Indian Contract Act, 1872 includes: Concealment of facts Promise made without intention to perform Active concealment of facts by one party All of the above None 15. A "holder in due course" under the Negotiable Instruments Act, 1881 means: Any holder of a negotiable instrument A person who receives the instrument for consideration and in good faith A person who holds the instrument after its maturity A person who receives the instrument as a gift None 16. Which section of the Companies Act, 2013 deals with the issue of bonus shares? Section 63 Section 65 Section 69 Section 1 None 17. What is the penalty for dishonor of a cheque under Section 138 of the Negotiable Instruments Act, 1881? Fine up to double the amount of the cheque or imprisonment up to 2 years Fine up to 50% of the cheque amount or imprisonment up to 1 year Fine up to ₹1 lakh or imprisonment up to 6 months Fine up to double the amount of the cheque or imprisonment up to 5 years None 18. Which section of the Indian Contract Act, 1872 deals with "Contingent Contracts"? Section 28 Section 31 Section 40 Section 50 None 19. Under the Companies Act, 2013, which resolution is required for altering the Memorandum of Association? Ordinary Resolution Special Resolution Unanimous Resolution None of the above None 20. What is the penalty for failure to repay deposits under the Companies Act, 2013? Fine up to ₹1 crore or imprisonment up to 3 years Fine up to ₹50 lakh or imprisonment up to 2 years Fine up to ₹10 lakh or imprisonment up to 5 years Fine up to ₹25 lakh or imprisonment up to 1 year None 21. Which of the following is a core principle of business ethics? Profitability above all Respect for stakeholders Ignoring social responsibilities Tax evasion None 22. Which ethical theory focuses on virtues and moral character? Utilitarianism Virtue Ethics Deontology Egoism None 23. What is the primary objective of whistleblowing? To expose unethical or illegal activities To create internal conflicts To harm the company’s reputation To gain monetary benefits None 24. An ethical organization prioritizes: Stakeholder interests over profitability Profitability over stakeholders Avoiding legal compliance Exploiting resources None 25. What is the ethical dilemma faced when employees are overworked but the company benefits financially? Transparency vs. Privacy Short-term gain vs. Long-term sustainability Fair treatment vs. Financial goals Respect vs. Harassment None 26. Which ethical principle emphasizes confidentiality of sensitive information? Integrity Justice Fidelity Transparency None 27. The term "Sustainability" in business ethics refers to: Increasing profits indefinitely Managing resources responsibly for future generations Avoiding competition Reducing operational costs None 28. Which of the following is a violation of workplace ethics? Equal pay for equal work Discrimination based on gender Providing a safe working environment Transparency in job appraisals None 29. Which of the following is an ethical issue in global business operations? Exchange rate fluctuations Exploitation of cheap labor in developing countries Currency devaluation Compliance with international trade laws None 30. The ethical concept of "Non-Maleficence" emphasizes: Avoiding harm to others Doing good for others Maximizing profits Respecting authority None 31. Which section of the Companies Act, 2013 deals with Directors’ Duties? Section 166 Section 150 Section 132 Section 125 None 32. What is "Doctrine of Constructive Notice"? All parties are deemed to have knowledge of the public documents of a company Only shareholders are required to inspect company documents Directors are exempt from disclosing company details Companies are not obligated to share public documents None 33. Which of the following statements is true about Limited Liability Partnerships (LLPs)? They cannot raise funds from the public They have unlimited liability They do not require registration Partners’ liability is not limited None 34. Under the Indian Contract Act, 1872, a contract can be discharged by: Performance Agreement Impossibility of performance All of the above None 35. Which section of the Consumer Protection Act, 2019 allows complaints to be filed online? Section 24 Section 35 Section 39 Section 47 None 36. Which of the following is NOT a feature of CSR under Section 135 of the Companies Act, 2013? Applicable to companies with a net profit of ₹5 crore or more Mandatory for all private companies Requires allocation of 2% of average net profits Requires a CSR committee in qualifying companies None 37. The "Doctrine of Lifted Corporate Veil" is applied to: Protect directors from personal liability Make individuals behind the company liable for fraudulent acts Ensure the company complies with CSR requirements Prevent competition between companies None 38. Which of the following is NOT a mode of dissolution of a partnership firm? Mutual agreement Compulsory dissolution by law Death of a partner Conversion into a company None 39. A "Special Resolution" requires approval by: At least 50% of the members present At least 75% of the members present and voting At least 90% of the total members Unanimous approval by all members None 40. Which of the following contracts is void under the Indian Contract Act, 1872? Contract made without free consent Contract with a minor Contract with lawful consideration Contract for sale of goods 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!
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 State 1. Which ethical principle focuses on avoiding harm? Justice Non-Maleficence Beneficence Autonomy None 2. Which of the following is a feature of ethical behavior? Following personal biases Respecting others’ rights Ignoring fairness Promoting discrimination None 3. What is "Insider Trading"? Buying shares in bulk Trading on confidential information for personal gain Selling shares to foreign investors Trading with multiple brokers None 4. Which of the following is NOT a benefit of Corporate Social Responsibility (CSR)? Enhanced public image Increased stakeholder trust Reduced compliance requirements Improved employee satisfaction None 5. Ethical leadership is primarily based on: Dictatorship Personal integrity Financial gains Political influence None 6. Which of the following best defines "Business Ethics"? The principles and standards guiding business behavior Maximizing profits Avoiding taxes Fulfilling all legal requirements None 7. Which of the following is an unethical practice in HR management? Discrimination in hiring Offering fair compensation Providing equal opportunities Respecting employee privacy None 8. Ethical issues in environmental responsibility include: Overpricing products Pollution control Ignoring customer feedback Selling non-essential goods None 9. Which ethical principle requires truthfulness and honesty? Integrity Fidelity Justice Non-Maleficence None 10. An ethical decision-making process should include: Ignoring legal requirements Evaluating the impact on stakeholders Maximizing personal benefits Avoiding consultation with experts None 11. What is the meaning of "Novation" under the Indian Contract Act, 1872? Creation of a new contract Termination of a contract Assignment of a contract Breach of a contract None 12. Under the Companies Act, 2013, what is the quorum for a meeting of a public company with more than 5,000 members? 5 members 10 members 30 members 50 members None 13. Which type of resolution is required to alter the Articles of Association? Ordinary resolution Special resolution Unanimous resolution Mandatory resolution None 14. What is "Doctrine of Privity of Contract"? Only parties to a contract can sue or be sued A contract is valid even without consideration A contract can be enforced by third parties A contract must be in writing None 15. Which section of the Companies Act, 2013 mandates annual return filing? Section 92 Section 134 Section 110 Section 173 None 16. What is the meaning of "Free Consent" under the Indian Contract Act, 1872? Consent not influenced by fraud or coercion Consent given under duress Consent obtained through threats Consent without legal consequences None 17. A minor can become a partner in a firm under the Indian Partnership Act, 1932: With equal rights as other partners For profits only For losses only As a dormant partner None 18. Which of the following is NOT a valid mode of discharge of a contract? Performance Impossibility Breach Duress None 19. Under the Negotiable Instruments Act, 1881, a cheque is valid for: 3 months 6 months 1 year No expiry None 20. Which of the following does NOT lead to the termination of a partnership? Death of a partner Expiry of the term of partnership Bankruptcy of a partner Admission of a new partner None 21. Under the Indian Contract Act, 1872, which of the following is NOT a valid contract? A contract with free consent A contract with lawful consideration A contract made for an illegal purpose A contract between competent parties None 22. Which section of the Companies Act, 2013 defines "One Person Company"? Section 2(62) Section 2(20) Section 3(1) Section 12 None 23. Which of the following is NOT a feature of the Memorandum of Association? It is a public document It defines the scope of activities of the company It can be altered without any formalities It is prepared during incorporation None 24. What is the maximum validity period of a proxy in a company meeting? 24 hours 48 hours 1 month 3 months None 25. Under the Negotiable Instruments Act, 1881, which of the following is a Promissory Note? A document promising a service An acknowledgment of debt payable on demand or after a fixed period A guarantee for a loan A letter of credit None 26. Which of the following is NOT an exception to the rule "No consideration, no contract"? Natural love and affection Compensation for voluntary services Promise to pay a time-barred debt Fraudulent misrepresentation None 27. Which section of the Companies Act, 2013 specifies the filing of financial statements with the Registrar? Section 129 Section 130 Section 134 Section 137 None 28. Under the Indian Contract Act, 1872, contracts for personal services are: Always valid Voidable at the option of the employee Specifically unenforceable Enforceable by law None 29. Which type of company is required to appoint a company secretary mandatorily? Private company Small company Listed company Sole proprietorship None 30. What is the limitation period for filing a suit for breach of contract? 1 year 2 year 3 year 5 year None 31. Which of the following is NOT an example of professional ethics? Transparency Confidentiality Discrimination Integrity None 32. Which ethical theory focuses on the "rights of individuals"? Utilitarianism Deontology Virtue Ethics Egoism None 33. An ethical audit in an organization is conducted to: Reduce taxes Improve ethical practices Identify competitors Create profit strategies None 34. Which of the following is an ethical issue related to marketing? False claims in advertisements Sustainable packaging Transparency in pricing Conducting surveys None 35. Which principle of ethics deals with “doing good”? Justice Beneficence Non-Maleficence Autonomy None 36. Which of the following is an example of ethical behavior in leadership? Leading by example Focusing solely on profits Ignoring employee welfare Withholding critical information None 37. What is the first step in ethical decision-making? Evaluate alternatives Identify the problem Implement the decision Consult stakeholders None 38. A business engaging in child labor violates which ethical principle? Autonomy Justice Non-Maleficence Transparency None 39. Ethical training in organizations is designed to: Promote legal compliance Improve moral reasoning and decision-making Increase sales Build competitive strategies None 40. Which of the following is an example of a conflict of interest? An employee discloses confidential company data A manager awarding a contract to a relative’s company A supplier delivering defective goods A business violating consumer rights 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!
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 State 1. Which of the following is not essential for a valid contract? Offer and acceptance Lawful consideration Lawful object Verbal agreement None 2. Which of the following agreements is void? Agreements with a minor Agreements to sell property Agreements involving lawful consideration Agreements with legal obligations None 3. Consideration in a contract must be: Past only Future only Past, present, or future None of the above None 4. When the consent of a party is obtained by coercion, the contract is: Valid Void Voidable Illegal None 5. The doctrine of 'Privity of Contract' means: Only parties to the contract are bound by it Third parties are bound by the contract Contracts must be in writing Contracts must be enforceable in court None 6. In a sale, the ownership of goods is: Retained by the seller Transferred to the buyer Shared between seller and buyer None of the above None 7. Which of the following is not a condition? Goods should match the description Goods should be of merchantable quality Warranty on minor defects Goods should fit the purpose None 8. The term 'Caveat Emptor' means: Let the seller beware Let the buyer beware Beware of fraud Beware of liability None 9. Which of the following is not an implied warranty? Quiet possession Merchantable quality Freedom from encumbrance Suitability for a particular purpose None 10. Unpaid seller can exercise the right of lien only when: Ownership is transferred Ownership is retained Goods are not delivered None of the above None 11. A cheque is valid for: 3 months from the date of issue 6 months from the date of issue 12 months from the date of issue No specific time limit None 12. Which of the following is not a negotiable instrument? Promissory note Bill of exchange Fixed deposit receipt Cheque None 13. Endorsement means: Writing of a signature Transfer of ownership Payment of an instrument All of the above None 14. Holder in due course means: A person holding a negotiable instrument A person who acquires a negotiable instrument for consideration A person entitled to enforce payment None of the above None 15. The minimum number of directors for a public company is: 1 2 3 5 None 16. The act of crossing a cheque ensures: It is non-transferable It can be encashed by the payee only through a bank It is invalid None of the above None 17. A private company can have a maximum of: 200 members 50 members 100 members Unlimited members None 18. A company is considered a legal person because it: Can sue and be sued Has a separate legal entity Can own property All of the above None 19. The term 'prospectus' refers to: An advertisement issued by a company A document inviting public subscriptions to shares A memorandum of association None of the above None 20. The liability of members in a company limited by shares is: Unlimited Limited to the amount unpaid on shares Limited to the company’s total debt None of the above None 21. Ethics are: Legally binding rules Guidelines for acceptable behavior Only applicable in personal life Irrelevant in business None 22. Corporate Social Responsibility (CSR) means: Maximizing profits Following ethical practices and contributing to society Reducing costs None of the above None 23. An ethical business practice includes: False advertising Transparent operations Exploiting workers All of the above None 24. The purpose of a code of ethics is to: Impose legal requirements Provide guidelines for ethical behavior Replace company policies None of the above None 25. Whistleblowing refers to: Reporting unethical practices within an organization Violating company policies Engaging in illegal activities Disclosing trade secrets None 26. A partnership firm must have at least: 2 partners 3 partners 5 partners 7 partners None 27. The liability of partners in a partnership firm is: Limited Unlimited Based on the partnership deed Equal for all partners None 28. Which of the following dissolves a partnership firm? Death of a partner Retirement of a partner Agreement among partners All of the above None 29. A partner who only contributes capital is called a: Active partner Sleeping partner Nominal partner Minor partner None 30. Which of the following is not true about partnership? It is created by agreement It has a separate legal entity Profits are shared among partners Liability is unlimited None 31. The liability of partners in an LLP is: Unlimited Limited to the extent of their contribution Limited to 50% of the debt Determined by the government None 32. In an LLP, a designated partner must: Be a minor Be an individual Be a company Be an HUF None 33. An LLP must have at least: 2 partners 3 partners 7 partners 10 partners None 34. The governing body for LLPs in India is: SEBI MCA (Ministry of Corporate Affairs) RBI NCLT None 35. LLP is a hybrid of: Partnership and sole proprietorship Partnership and company Company and trust Trust and HUF None 36. The Consumer Protection Act provides rights to: Sellers Consumers Both sellers and consumers None of the above None 37. Which of the following is a consumer's right under the Act? Right to safety Right to choose Right to be heard All of the above None 38. Who is not considered a consumer under the Consumer Protection Act? A person buying goods for personal use A person availing services for consideration A person buying goods for resale None of the above None 39. The three-tier redressal system includes: District Commission, State Commission, and National Commission District Court, High Court, and Supreme Court Police Station, Consumer Forum, and High Court None of the above None 40. A complaint can be filed under the Consumer Protection Act for: Unfair trade practices Deficiency in services Defective goods All of the above 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!
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 State 1. Which section of the Indian Contract Act, 1872, defines “void agreement”? Section 2(g) Section 10 Section 20 Section 25 None 2. In which of the following cases is a contract discharged by operation of law? Breach of contract Lapse of time Merger of rights Performance of contract None 3. Which section of the Companies Act, 2013 specifies the procedure for the removal of a director? Section 149 Section 169 Section 173 Section 186 None 4. What is the limitation period for dishonor of a cheque under the Negotiable Instruments Act, 1881? 3 months 6 months 1 year 2 years None 5. Under the Indian Partnership Act, 1932, the property of the firm is: Owned by individual partners Jointly owned by partners for business purposes Owned by the senior partner only Owned by creditors None 6. Which section of the Companies Act, 2013 deals with the appointment of an independent director? Section 135 Section 149 Section 152 Section 161 None 7. What is the minimum notice period required for a general meeting of a company? 7 days 14 days 21 days 30 days None 8. Which of the following does NOT constitute a breach of contract? Anticipatory breach Actual breach Performance of contract Non-performance of contract None 9. What is the maximum number of partners allowed for a banking business under the Indian Partnership Act, 1932? 10 20 50 Unlimited None 10. Under the Companies Act, 2013, which meeting is mandatory for a public company within six months of its incorporation? Annual General Meeting Extraordinary General Meeting Statutory Meeting Board Meeting None 11. Which of the following is NOT a principle of professional ethics? Integrity Objectivity Advocacy Confidentiality None 12. What is the ethical responsibility of businesses towards customers? Maximize profits at any cost Provide safe and quality products Ignore consumer rights Focus only on market competition None 13. Which ethical theory emphasizes that actions are right if they benefit the majority? Deontology Utilitarianism Virtue Ethics Social Contract Theory None 14. Which of the following is an example of ethical behavior in accounting? Inflating profits Accurate financial reporting Manipulating records Tax evasion None 15. What does "Social Responsibility" in ethics primarily refer to? Legal compliance Voluntary efforts to contribute to society Employee performance Profit-making strategies None 16. Which of the following is NOT an ethical issue in marketing? False advertising Price fixing Sustainable packaging Misleading labels None 17. What does the principle of "Justice" in ethics imply? Equal treatment for all Maximizing profits Favoritism in decision-making Ignoring employee welfare None 18. What is "Ethical Dilemma"? A situation with no ethical issues A choice between two ethical options A situation where ethical and unethical options conflict None of the above None 19. What is the primary purpose of a "Code of Ethics"? To reduce competition To provide a framework for ethical decision-making To increase profits To avoid legal consequences None 20. Which of the following is a benefit of ethical business practices? Increased legal disputes Improved stakeholder trust Reduced employee retention Decreased market reputation None 21. Under the Companies Act, 2013, "Memorandum of Association" is a document that: Defines the company’s internal regulations Specifies the company’s objectives and scope Outlines the responsibilities of directors Lists the company’s financial details None 22. Which of the following is NOT a valid discharge of a contract? Performance Breach Novation Coercion None 23. The term "Natural Person" in law refers to: A company A partnership firm An individual human being A corporate entity None 24. What is the ethical responsibility of a business towards its employees? Exploiting their labor Providing a safe working environment Ignoring employee welfare Increasing working hours arbitrarily None 25. Which of the following contracts cannot be specifically enforced? Contracts to build a house Contracts to deliver rare goods Contracts to perform personal services Contracts to sell immovable property None 26. Under the Companies Act, 2013, which document is required to register a company? Memorandum of Association Prospectus Certificate of Deposit Tax Invoice None 27. What is the primary feature of a negotiable instrument? It must be registered with a bank It is freely transferable It is issued by the government It cannot be endorsed None 28. Under the Indian Contract Act, "Quantum Meruit" means: A promise made without intention to fulfill As much as is earned A fraudulent transaction A gratuitous promise None 29. Which section of the Indian Contract Act, 1872 defines “Consent”? Section 10 Section 13 Section 14 Section 15 None 30. Which of the following is NOT an objective of business ethics? Ensuring profitability Promoting fairness Building trust Encouraging transparency None 31. Under the Indian Contract Act, 1872, an agreement made without consideration is: Voidable Valid Void Illegal None 32. Which of the following is NOT a type of resolution under the Companies Act, 2013? Ordinary resolution Special resolution Mandatory resolution Unanimous resolution None 33. Under the Negotiable Instruments Act, 1881, dishonor by non-acceptance applies to: Promissory Notes Cheques Bills of Exchange None of the above None 34. Which section of the Companies Act, 2013 deals with the Doctrine of Indoor Management? Section 187 Section 290 Section 122 Not specified under the Act None 35. What is the time limit for acceptance of a bill under the Negotiable Instruments Act, 1881? 24 hours 48 hours 3 days 7 days None 36. Which of the following is NOT an essential element of a partnership? Sharing of profits A lawful business Mutual agency Separate legal entity None 37. The doctrine of “Caveat Emptor” means: Buyer Beware Seller Beware Mutual Agreement Let the Seller Decide None 38. The object clause of the Memorandum of Association states: The internal rules of the company The scope of the company’s activities The duties of directors The share capital structure None 39. Which of the following contracts is NOT voidable under the Indian Contract Act? Coercion Fraud Misrepresentation Mistake of fact by both parties None 40. The penalty for contravention of CSR provisions under Section 135 of the Companies Act, 2013 is: ₹10,000 ₹50,000 to ₹25,00,000 ₹1,00,000 to ₹10,00,000 ₹50,000 to ₹10,00,000 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!
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 State 1. What is the primary objective of a code of ethics? To increase profits To provide guidelines for ethical behavior To eliminate competition To promote corruption-free practices None 2. Which of the following is a benefit of ethical behavior in business? Increased employee retention Lower customer satisfaction Reduced market reputation Increased legal disputes None 3. Which ethical concept focuses on long-term sustainability and reducing harm to future generations? Transparency Corporate Social Responsibility (CSR) Profit Maximization Employee Motivation None 4. What is the key feature of ethical leadership? Centralized decision-making Focus on personal gains Leading by example Avoiding responsibility None 5. What is the principle of "Equity" in ethics? Treating everyone equally regardless of circumstances Providing opportunities based on needs and abilities Ensuring profits at all costs Avoiding social responsibilities None 6. Which of the following is a major ethical issue in e-commerce? Ensuring low prices Data privacy and protection Offering discounts Customer satisfaction None 7. Which ethical principle emphasizes the importance of fulfilling one’s promises? Justice Fidelity Autonomy Non-maleficence None 8. Which of the following is an unethical marketing practice? Transparent pricing False advertising Offering refunds Customer surveys None 9. What is the main reason businesses adopt ethical practices? To reduce costs To attract ethical investors and consumers To avoid competition To eliminate legal requirements None 10. Which of the following is an example of ethical corporate behavior? Tax evasion Environmental conservation initiatives Discrimination in hiring practices Exploitation of workers None 11. What is the minimum number of shareholders required to incorporate a public company? 2 3 7 10 None 12. Which of the following contracts is specifically enforceable under the Specific Relief Act, 1963? A contract to marry A contract to sell immovable property A contract to perform a musical show A contract to paint a portrait None 13. Which of the following is NOT considered a negotiable instrument? Cheque Promissory Note Share Certificate Bill of Exchange None 14. Under the Indian Partnership Act, 1932, which of the following is NOT an essential feature of a partnership? Agreement Sharing of profits Common seal Business None 15. Which of the following is NOT a characteristic of a company? Perpetual succession Separate legal entity Unlimited liability Transferability of shares None 16. Under the Consumer Protection Act, 2019, which court has jurisdiction for claims above ₹1 crore but up to ₹10 crore? District Commission State Commission National Commission Supreme Court None 17. What is the maximum time allowed for filing a complaint under the Consumer Protection Act, 2019? 1 year 2 years 3 years 6 months None 18. Which section of the Companies Act, 2013 deals with “Reduction of Share Capital”? Section 66 Section 96 Section 110 Section 42 None 19. Under the Indian Contract Act, 1872, a contract is discharged when: It is declared void Performance is completed Both parties refuse to perform Consent is given to continue None 20. What is the punishment for issuing a prospectus with untrue statements under the Companies Act, 2013? Fine of up to ₹5 lakh Fine of up to ₹10 lakh or imprisonment up to 3 years or both Fine of up to ₹25 lakh or imprisonment up to 2 years or both No penalty None 21. Which of the following is a key feature of corporate ethics? Profit Maximization Transparency Ignoring regulations Disregarding stakeholders None 22. Which principle in business ethics focuses on honesty and openness in all dealings? Integrity Justice Fairness Autonomy None 23. What does "CSR" stand for? Customer Satisfaction Responsibility Corporate Social Responsibility Consumer Service Regulation Compliance with Social Rules None 24. What is the primary ethical responsibility of a business? Maximizing profits at any cost Ensuring customer satisfaction Ignoring employee welfare Avoiding legal obligations None 25. Which of the following is NOT an example of ethical business behavior? Paying fair wages to employees False advertising Ensuring product safety Recycling waste None 26. Which ethical theory focuses on duty and obligations? Utilitarianism Deontology Virtue Ethics Egoism None 27. Which of the following is NOT a benefit of ethical practices in business? Improved customer loyalty Lower employee turnover Increased regulatory scrutiny Enhanced reputation None 28. What is the purpose of a company’s "Code of Conduct"? To dictate personal behavior To provide guidelines for ethical behavior To maximize profits To ensure monopoly in the market None 29. The term "Stakeholder" in ethics includes: Only employees Only shareholders All parties affected by business decisions Only government authorities None 30. Which of the following is an ethical issue related to technology? Offering discounts Data privacy and cybersecurity Launching new products Increasing market share None 31. Which section of the Companies Act, 2013 relates to the Corporate Social Responsibility (CSR) provisions? Section 135 Section 138 Section 149 Section 161 None 32. Under the Indian Contract Act, 1872, undue influence is covered under which section? Section 14 Section 15 Section 16 Section 17 None 33. Which of the following is NOT an example of consideration under the Indian Contract Act, 1872? Money Services Gift Goods None 34. The principle of "Natural Justice" is aimed at ensuring: Maximum profit Fairness in decision-making Quick results Ignoring laws None 35. Which of the following is NOT a feature of a negotiable instrument? Freely transferable Written document Requires registration Guarantees payment None 36. The term "Misrepresentation" refers to: Deliberate concealment of facts False statement of facts without intent to deceive Threat to obtain consent Legal obligation None 37. Which of the following is an essential element of a valid contract? Free consent Written document Witnesses Registration None 38. Who appoints the first auditor of a company under the Companies Act, 2013? Shareholders Board of Directors Ministry of Corporate Affairs Registrar of Companies None 39. Which ethical principle is violated when misleading advertisements are published? Integrity Transparency Fidelity Justice None 40. Under the Consumer Protection Act, 2019, a complaint can be filed by: Any individual A registered consumer organization A legal heir of the consumer All of the above 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!
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 State 1. What is the maximum number of members in a private company as per the Companies Act, 2013? 50 100 200 500 None 2. Which of the following is NOT a valid consideration under the Indian Contract Act, 1872? Past consideration Present consideration Future consideration Illegal consideration None 3. Which section of the Indian Contract Act defines a "Contract"? Section 1 Section 2(b) Section 2(h) Section 4 None 4. Which of the following is NOT an essential element of a valid contract? Free consent Lawful object Consideration Written agreement None 5. Under the Companies Act, 2013, who appoints the first directors of a company? Shareholders Promoters Board of Directors Registrar of Companies None 6. What is the limitation period for filing a suit under the Limitation Act, 1963? 1 year 2 year 3 year 5 year None 7. Which of the following agreements is void under the Indian Contract Act, 1872? Agreement with free consent Agreement in restraint of marriage Agreement with lawful consideration Agreement to sell goods None 8. What is the minimum paid-up capital required for a public company under the Companies Act, 2013? ₹1,00,000 ₹5,00,000 ₹10,00,000 No minimum limit None 9. Which section of the Companies Act, 2013 deals with "Board Meetings"? Section 96 Section 173 Section 123 Section 134 None 10. Which Act governs the issue of negotiable instruments in India? The Companies Act, 2013 The Indian Contract Act, 1872 The Negotiable Instruments Act, 1881 The Banking Regulation Act, 1949 None 11. Which of the following is NOT a principle of business ethics? Honesty Profit Maximization Fairness Respect for Others None 12. Which of the following is NOT an ethical issue in business? Environmental Responsibility Employee Relations Maximizing Revenue Consumer Protection None 13. What is the meaning of 'Whistleblowing'? Encouraging unethical behavior Reporting unethical practices within an organization Violating confidentiality agreements Disregarding company policies None 14. Which of the following is an unethical business practice? Transparency in reporting Exploiting child labor Compliance with regulations Fair wages to employees None 15. Which principle is emphasized by corporate social responsibility (CSR)? Profit above all Duty towards society and environment Exclusivity in decision-making Avoidance of competition None 16. What is the meaning of "Conflict of Interest" in ethics? Cooperation between stakeholders A situation where personal interests clash with professional duties Encouraging partnerships Avoiding personal gains None 17. Which of the following is an ethical responsibility of a business? Avoiding customer satisfaction Overpricing products Ensuring product safety Ignoring social issues None 18. What does the term "Integrity" mean in ethics? Loyalty to superiors Adhering to moral and ethical principles Seeking personal gains Following orders blindly None 19. Which of the following is a benefit of business ethics? Increased legal issues Improved brand reputation Higher employee turnover Lower customer loyalty None 20. What does "Transparency" in business ethics refer to? Hiding financial details Open and honest communication with stakeholders Avoiding responsibility Ignoring customer complaints None 21. What is the minimum number of directors required for a public company? 1 2 3 4 None 22. A contract becomes voidable when consent is obtained through: Mistake Free consent Fraud None of the above None 23. The Indian Partnership Act was enacted in: 1930 193 1956 1961 None 24. Which ethical theory emphasizes "the greatest good for the greatest number"? Utilitarianism Deontology Virtue Ethics Egoism None 25. Under which section can a company hold an Extraordinary General Meeting (EGM)? Section 96 Section 100 Section 173 Section 134 None 26. The duty of a business to act in an environmentally responsible manner is part of: Economic ethics Social ethics Environmental ethics Legal ethics None 27. Under the Indian Contract Act, "Coercion" is defined in Section: 13 15 19 22 None 28. The primary objective of corporate governance is: Profit Maximization Shareholder Wealth Maximization Ethical Conduct and Transparency Cost Reduction None 29. Which of the following is NOT a negotiable instrument? Cheque Bill of Exchange Promissory Note Fixed Deposit Receipt None 30. The concept of "Stakeholder Theory" emphasizes: Maximizing shareholder profits Addressing the interests of all stakeholders Avoiding social responsibility Ignoring ethical principles None 31. Under the Indian Contract Act, 1872, a minor’s agreement Void Voidable Valid Illegal None 32. In which case is an agreement considered void due to uncertainty? Agreement to sell all the grain in a granary Agreement to sell 100 tons of wheat at a reasonable price Agreement to sell 10 tons of wheat for ₹50,000 Agreement to sell something when both parties are uncertain about the object None 33. Which section of the Companies Act, 2013 specifies the duties of directors? Section 166 Section 173 Section 92 Section 96 None 34. What is the maximum number of partners allowed in a partnership firm, as per the Companies Act, 2013? 20 50 100 Unlimited None 35. Which of the following is NOT a type of crossing on a cheque? General crossing Special crossing Account crossing Restrictive crossing None 36. What is the time limit for filing an appeal under the Consumer Protection Act, 2019? 15 days 30 days 60 days None 37. Under which Act is "Digital Signature" recognized in India? Indian Contract Act, 1872 Information Technology Act, 2000 Companies Act, 2013 Consumer Protection Act, 2019 None 38. Who is responsible for the registration of a partnership firm under the Indian Partnership Act, 1932? District Court Registrar of Firms Registrar of Companies Ministry of Corporate Affairs None 39. Which of the following contracts is NOT specifically enforceable? Contract to sell immovable property Contract to marry Contract to perform personal services Contract to build a house None 40. What does the term “ultra vires” refer to in company law? Actions within the company's power Actions outside the company’s power Fraudulent transactions Resignation of a director 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!
Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Fundamentals of Business Economics and Management 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 State 1. Which of the following is an example of a price ceiling? Minimum wage law Rent control Taxes on production Price floors None 2. Which of the following is most likely to be a public good? National defense Bread Mobile phones Computers None 3. The term "marginal revenue" refers to: The total revenue from selling one more unit of output The total revenue from all units sold The change in total cost due to producing an additional unit The change in total revenue due to producing an additional unit None 4. What is the primary cause of market failure? Government intervention Lack of competition Externalities Free trade None 5. When demand is elastic, a decrease in price will result in: Decrease in total revenue Increase in total revenue No change in total revenue Decrease in supply None 6. The principle of comparative advantage suggests that countries should: Restrict imports Specialize in producing goods they can produce most efficiently Produce all goods domestically Import goods that are produced inefficiently None 7. Which of the following is an example of a non-price determinant of demand? Change in the price of the good Change in consumer income Change in the price of a complement Change in the price of a substitute None 8. If a good has a perfectly inelastic demand curve, the quantity demanded will: Decrease as the price increases Remain constant as the price increases Increase as the price increases Be affected by the price None 9. Which of the following is a characteristic of an oligopoly? Many sellers, no barriers to entry Many buyers, homogeneous products Few large firms, significant barriers to entry One firm dominates the market None 10. A monopoly is most likely to occur when: The good or service is highly standardized There are many firms producing the good There are high barriers to entry Consumer preferences are varied None 11. In economics, a "shift in the demand curve" refers to: A change in price A change in quantity demanded A change in the underlying factors affecting demand A movement along the curve due to income changes None 12. In a perfectly competitive market, firms earn: Supernormal profit in the long run Zero profit in the short run Normal profit in the long run Positive economic profit in the long run None 13. The "income effect" refers to: The change in quantity demanded due to a change in the price of a good The change in demand caused by a change in consumer income The change in supply caused by a change in income The change in income due to changes in prices of goods None 14. The price elasticity of demand for necessities is: Perfectly elastic Elastic Inelastic Unitary None 15. The law of diminishing marginal returns holds when: All inputs are variable One factor is held constant and others are increased All factors of production are held constant The economy is in a state of equilibrium None 16. A recession is characterized by: High inflation High economic growth Decreased levels of demand and employment Increased consumer confidence None 17. A firm is said to be operating in the short run when: All inputs are variable Some inputs are fixed All inputs are fixed The firm maximizes profits None 18. The marginal product of labor is: The total output produced by a firm The change in total output resulting from employing one more unit of labor The total wage paid to all workers The cost of hiring additional workers None 19. Which of the following is NOT a feature of a monopolistic competition market structure? Product differentiation Many buyers and sellers Barriers to entry Firms are price takers None 20. The total cost curve typically slopes: Downward as output increases Upward and then levels off Upward as output increases Vertically None 21. The primary function of organizing in management is to: Establish performance standards Create an action plan for the organization Allocate resources and assign responsibilities Measure employee performance None 22. The controlling function of management involves: Setting goals and objectives Measuring actual performance and comparing it with standards Motivating employees Designing the organizational structure None 23. Which of the following is NOT a principle of scientific management? Standardization of tools and work methods Time and motion studies Division of labor Encouraging informal communication None 24. A decentralized organization allows: More control by top management Fewer decision-making opportunities for employees More freedom and responsibility at lower levels Less responsibility at lower levels None 25. The concept of the "self-fulfilling prophecy" in management is closely related to: Theory X and Theory Y Maslow’s Hierarchy of Needs Herzberg’s Two-Factor Theory Frederick Taylor’s scientific None 26. Which of the following is a key element of transformational leadership? Setting clear expectations and rules Maintaining the status quo Motivating and inspiring employees to achieve higher goals Using rewards and punishments to motivate employees None 27. Which management function is concerned with monitoring and evaluating performance to ensure that objectives are met? Planning Controlling Organizing Directing None 28. Which of the following is an example of a strategic decision? Deciding the layout of a production floor Deciding on marketing strategies Hiring an employee for a specific position Setting goals and objectives for long-term growth None 29. According to Herzberg's Two-Factor Theory, which factor is most likely to lead to job dissatisfaction? Achievement Recognition Hygiene factors Career advancement None 30. In a matrix structure, employees typically report to: One manager only Multiple managers for different projects The project manager only The department head only None 31. The Hawthorne effect refers to: The impact of reward systems on productivity The effect of lighting on worker productivity The influence of employee attention and observation on behavior The effect of team dynamics on performance None 32. Which of the following is NOT an objective of human resource management? Recruitment and staffing Employee motivation and development Maximizing profits for the organization Ensuring a safe work environment None 33. A formal group within an organization is one that: Has no designated leader Has a clearly defined structure and goals Operates informally without any written rules Works outside the organizational framework None 34. In which of the following leadership styles does the leader make decisions independently and expects subordinates to follow orders? Autocratic Democratic Laissez-faire Transformational None 35. The term "360-degree feedback" refers to: Feedback from supervisors only Feedback from peers, subordinates, and supervisors Feedback from customers Feedback provided only by employees None 36. The process of planning, organizing, leading, and controlling is known as: Decision-making process Strategic management Management process Operations management None 37. The role of a manager as a "liaison" means that they: Make decisions related to product development Negotiate with external parties Maintain and build relationships inside and outside the organization Monitor and evaluate team performance None 38. Which of the following is an example of a tactical decision? Setting long-term goals Developing a marketing strategy Deciding the production schedule Planning company expansion None 39. Which of the following is a characteristic of a well-designed organizational structure? Clear lines of authority Lack of formal communication Flexible decision-making processes Frequent role ambiguity None 40. The primary function of directing is to: Allocate resources Supervise and motivate employees Measure performance Set organizational goals 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. 1 2 3 4 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!
