Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Business Management, Ethics & Entrepreneurship 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 a feature of management? Goal-oriented process Universal applicability One-time activity Continuous process None 2. Which of the following best describes the term ‘span of control’? The number of subordinates a manager can efficiently handle The authority given to a manager The overall structure of an organization The length of a project None 3. Which leadership style is most effective in crisis situations? Autocratic Democratic Laissez-Faire Transformational None 4. The process of defining organizational goals and determining the best way to achieve them is called: Controlling Directing Planning Organizing None 5. What is the key focus of Total Quality Management (TQM)? Profit maximization Reducing employee workload Continuous improvement and customer satisfaction Reducing the number of employees None 6. Which managerial function is concerned with grouping activities and resources logically? Planning Organizing Leading Controlling None 7. Which of the following is NOT a barrier to effective communication? Noise Feedback Language differences Cultural differences None 8. Which motivational theory focuses on hygiene factors and motivators? Maslow’s Hierarchy of Needs Herzberg’s Two-Factor Theory Expectancy Theory Theory X and Theory Y None 9. What is the main objective of financial management in a business? Maximizing profits Managing cash flows Ensuring business growth Maximizing shareholder wealth None 10. A company that follows a functional structure organizes employees based on: Products Departments and job functions Customer types Geographical locations None 11. Which of the following is an ethical issue in HR management? Fair wages and employee rights Product quality Corporate social responsibility Financial reporting None 12. A company’s commitment to ethical business practices is known as: Financial planning Corporate governance Business expansion Cost-cutting strategy None 13. What is the term for a situation where a person must choose between conflicting ethical principles? Ethical dilemma Business opportunity Strategic decision-making Marketing strategy None 14. Which law in India regulates corporate social responsibility (CSR) for companies? Companies Act, 2013 Income Tax Act, 1961 Competition Act, 2002 Factories Act, 1948 None 15. Which of the following is a benefit of ethical business practices? Increased employee retention Reduced brand loyalty Lower customer satisfaction Increased regulatory issues None 16. Which of the following is an example of corporate social responsibility (CSR)? Increasing product prices Engaging in environmental sustainability initiatives Cutting employee benefits Reducing customer service staff None 17. Which document states a company's ethical principles and expected behaviors? Corporate strategy Code of conduct Annual report Business plan None 18. What is greenwashing in business ethics? A strategy to hide financial losses Misleading consumers about environmental benefits A method of reducing production costs A fair-trade business practice None 19. Which of the following organizations promotes corporate ethics in India? SEBI RBI NITI Aayog IRDAI None 20. Ethical consumerism involves: Making purchases based on ethical concerns Buying only expensive products Avoiding all advertisements Purchasing based on brand popularity None 21. A business that is owned and operated by one individual is called Corporation Sole proprietorshi Partnership Cooperative None 22. Which type of entrepreneur repeatedly starts new businesses? Serial entrepreneur Corporate entrepreneur Social entrepreneur Lifestyle entrepreneur None 23. The term ‘bootstrapping’ in entrepreneurship refers to: Using personal resources to start a business Raising funds from venture capitalists Selling equity to investors Acquiring a loan from banks None 24. Which of the following is a disadvantage of entrepreneurship? High job security Fixed working hours Financial risk Limited decision-making power None 25. Which funding source is considered informal for startups? Bank loan Angel investors Venture capital Stock market None 26. Which of the following best describes an intrapreneur? An employee who innovates within an organization A self-employed entrepreneur A government official A stock market analyst None 27. Which of the following is NOT a function of an entrepreneur? Risk-taking Innovation Wealth creation Job-seeking None 28. The term ‘Unicorn Startup’ refers to a startup valued at: $1 million $10 million $100 million $1 billion None 29. Which of the following is an example of a government scheme supporting entrepreneurship in India? Startup India FDI Policy GST Act SEBI Regulation None 30. Which document outlines a business’s goals, strategies, and financial projections? Business plan Annual report Shareholder agreement Code of ethics None 31. Which of the following is a characteristic of a good decision-making process? Based on intuition alone Lack of alternative options Rational and systematic approach Avoiding stakeholder involvement None 32. Which type of planning focuses on long-term objectives and strategies? Tactical planning Strategic planning Operational planning Contingency planning None 33. What is the main focus of human resource management (HRM)? Managing machines and materials Managing financial investments Managing people and workplace culture Managing production schedules None 34. Which financial statement shows a company's financial position at a specific point in time? Income Statement Cash Flow Statement Balance Sheet Statement of Retained Earnings None 35. Which of the following is an example of unethical business conduct? Providing fair wages Following corporate governance principles Engaging in insider trading Maintaining product quality standards None 36. Whistleblowing refers to: Exposing unethical practices within an organization Supporting corporate expansion Reducing company costs Promoting financial reporting None 37. The primary purpose of business ethics is to: Increase short-term profits Ensure fair and responsible business practices Maximize production efficiency Reduce employee engagement None 38. Which of the following is NOT a characteristic of an entrepreneur? Risk-taking Innovation Fear of failure Visionary mindset None 39. A business plan should include: Only marketing strategies Only financial projections A combination of objectives, strategies, and financials No competitive analysis None 40. Which term refers to the ability of a business to quickly adapt to market changes? Scalability Rigidity Monopoly Traditionalism 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 Management, Ethics & Entrepreneurship 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 a function of management? Planning Organizing Investing Controlling None 2. The principle of ‘Unity of Command’ states that: Each employee should report to only one superior Work should be divided into specialized tasks Authority and responsibility should be balanced Managers should focus on employee motivation None 3. Who is considered the father of Scientific Management? Henry Fayol Frederick Taylor Elton Mayo Peter Drucker None 4. Which leadership style allows employees to make decisions with minimal supervision? Autocratic Democratic Laissez-Faire Bureaucratic None 5. In Maslow’s hierarchy of needs, the highest level is: Safety Needs Esteem Needs Social Needs Self-Actualization Needs None 6. Which of the following is NOT a characteristic of a good control system? Flexibility Timeliness Complexity Accuracy None 7. SWOT analysis is a tool used in which managerial function? Planning Organizing Leading Controlling None 8. A company that follows a ‘Decentralized’ structure: Gives decision-making power to lower levels Centralizes all decisions at the top Has a tall hierarchical structure Eliminates the need for leadership None 9. Which of the following is NOT a step in the decision-making process? Identifying the problem Developing alternatives Ignoring feedback Implementing the decision None 10. Which managerial function involves selecting the best candidate for a job role? Organizing Staffing Leading Planning None 11. Business ethics primarily deals with: Maximizing profits Morality and ethical decision-making in business Reducing business costs Implementing government policies None 12. Which of the following is an example of unethical business behavior? Fair pricing Customer satisfaction False advertising Employee training None 13. Corporate Social Responsibility (CSR) is related to: Employee management Environmental and social concerns Financial planning Inventory control None 14. Whistleblowing refers to: Reporting unethical behavior in an organization Promoting a business through advertising Creating competitive business strategies Increasing customer loyalty None 15. The ‘Triple Bottom Line’ concept includes: Profits, People, Planet Revenue, Costs, Taxes Employees, Suppliers, Customers Quality, Price, Brand None 16. Ethical leadership requires a manager to: Focus only on profitability Follow legal and moral standards Ignore employee concerns Use aggressive marketing strategies None 17. Insider trading is considered unethical because: It benefits all shareholders equally It gives unfair advantage to some individuals It follows government regulations It is a legal practice None 18. Ethics in business improves: Employee morale and productivity Profitability only Only customer satisfaction None of the above None 19. Which of the following is a key component of ethical decision-making? Transparency Deception Profit maximization only Ignoring competitors None 20. A business following ethical principles will: Exploit labor for cost reduction Maintain fair trade practices Ignore corporate governance Avoid paying taxes None 21. An entrepreneur is best described as: An employee A risk-taker who starts a business A government officer A financial analyst None 22. Which of the following is NOT a characteristic of an entrepreneur? Innovation Risk-taking Procrastination Leadership None 23. The process of starting a new business is called: Innovation Entrepreneurship Leadership Delegation None 24. Which of the following is an example of a startup business? A new IT company A government bank A multinational company A public sector unit None 25. A business plan includes : Financial projections Market analysis Business objectives All of the above None 26. The primary goal of an entrepreneur is to: Increase employment Take risks and generate profits Follow government rules only Work under a manager None 27. Which type of entrepreneur brings social change? Corporate Entrepreneur Social Entrepreneur Serial Entrepreneur Lifestyle Entrepreneur None 28. A franchise is a New business idea Business model based on licensing Form of business competition Legal contract between employees None 29. The term ‘Angel Investor’ refers to A wealthy individual investing in startups A government bank offering loans A stock market expert A business consultant None 30. Which of the following is NOT a source of startup funding? Venture Capital Bank Loans Fixed Deposits Crowdfunding None 31. Which function of management ensures that actual performance matches the planned performance? Planning Organizing Controlling Directing None 32. Which leadership style involves strict rules and close supervision Autocratic Democratic Transformational Charismatic None 33. In a matrix organizational structure, employees report to: One manager only Multiple managers No manager The CEO directly None 34. The first step in strategic management is Evaluating strategies Implementing policies Setting objectives Environmental scanning None 35. Which of the following is an ethical issue in marketing? False advertising Consumer rights protection Product innovation Customer satisfaction None 36. The ethical approach that focuses on the ‘greatest good for the greatest number’ is called: Deontological ethics Utilitarianism Virtue ethics Categorical imperative None 37. What is the main objective of corporate governance? Maximizing short-term profits Protecting stakeholders' interests Avoiding legal requirements Eliminating competition None 38. . Which of the following is NOT a type of entrepreneur? Social Entrepreneur Business Entrepreneur Dependent Entrepreneur Serial Entrepreneur None 39. Which government initiative supports startups in India? Make in India Start-Up India Digital India Atmanirbhar Bharat None 40. Which of the following is an advantage of being an entrepreneur Fixed salary Unlimited job security Independence and decision-making freedom Limited working hours 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. 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Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Business Management, Ethics & Entrepreneurship 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 type of planning focuses on short-term objectives and day-to-day operations? Strategic Planning Tactical Planning Operational Planning Contingency Planning None 2. Which of the following is a key step in the decision-making process? Ignoring alternative solutions Defining the problem Following intuition alone Avoiding data collection None 3. What is the primary purpose of contingency planning? Handling unexpected situations Expanding business operations Increasing profitability Reducing employee workload None 4. Which of the following best describes a Vision Statement? Defines future goals and aspirations Focuses only on daily operations Describes detailed financial reports Sets short-term objectives None 5. Porter’s Five Forces model is used for: Marketing strategy formulation Competitive analysis Human resource planning Financial budgeting None 6. Which organizational structure is characterized by a dual reporting system? Functional Structure Matrix Structure Hierarchical Structure Divisional Structure None 7. What type of leader makes decisions independently without employee input? Autocratic Democratic Laissez-Faire Transformational None 8. Transactional leadership focuses on: Inspiring long-term vision Rewards and punishments based on performance Empowering employees with creativity Disregarding formal management practices None 9. Which leadership style encourages innovation and change? Autocratic Transformational Bureaucratic Laissez-Faire None 10. Delegation in management refers to: Assigning authority to subordinates Reducing employee workload Centralizing decision-making Increasing bureaucracy None 11. Which of the following is a monetary motivation factor? Recognition Job security Salary increase Positive work environment None 12. Which of the following is a barrier to effective communication? Active listening Cultural differences Clear message delivery Open feedback None 13. Grapevine communication is: Official and formal Unofficial and informal Always inaccurate Only used in small businesses None 14. In Herzberg’s Two-Factor Theory, which of the following is a hygiene factor? Recognition Career growth Salary Job responsibility None 15. Which of the following is NOT an element of communication? Sender Receiver Feedback Profits None 16. Which of the following is an unethical practice? Bribery Transparency Fair competition Customer satisfaction None 17. Corporate governance ensures: Ethical business practices Monopoly in the market Reduction in business taxes Ignoring shareholder interests None 18. Which of the following is NOT part of Corporate Social Responsibility (CSR)? Environmental protection Community development Employee mistreatment Ethical labor practices None 19. Which law prevents insider trading in India? SEBI Act, 1992 Companies Act, 2013 Income Tax Act, 1961 Foreign Exchange Management Act, 1999 None 20. Which of the following is an example of ethical advertising? False claims about a product Transparent and honest marketing Manipulating customer emotions Misrepresenting facts None 21. Which of the following is NOT a characteristic of an entrepreneur? Risk-taking Innovation Fear of failure Visionary mindset None 22. Which of the following is an example of social entrepreneurship? Establishing a non-profit organization Investing in cryptocurrency Manufacturing luxury goods Stock market trading None 23. Which factor is most important for startup success? Government subsidies Strong business model High initial investment Competition avoidance None 24. Which of the following is a government initiative to support startups in India? Digital India Make in India Startup India All of the above None 25. Angel investors provide funding in: Growth stage Initial stage Decline stage Post-profitability phase None 26. Which financial statement shows the profit or loss of a business? Balance Sheet Cash Flow Statement Income Statement Budget Report None 27. Which business structure has unlimited liability? Private Limited Company Public Limited Company Sole Proprietorship Limited Liability Partnership None 28. Which entrepreneur founded Microsoft? Steve Jobs Bill Gates Jeff Bezos Elon Musk None 29. The term ‘scalability’ in a startup refers to: Increasing operational costs Expanding the business efficiently Reducing the customer base Limiting innovation None 30. Which of the following is NOT a source of startup funding? Venture capital Angel investment Personal savings Employee salaries None 31. Which of the following is the first step in the management process? Organizing Controlling Planning Staffing None 32. Which of the following is NOT a function of management? Planning Controlling Marketing Directing None 33. Which financial ratio measures a company's profitability? Current Ratio Debt-to-Equity Ratio Return on Investment (ROI) Inventory Turnover Ratio None 34. What does the term ‘span of control’ refer to in management? Number of managers in an organization Number of employees directly supervised by a manager Time taken for decision-making Company’s financial control over assets None 35. Which ethical principle emphasizes fairness and justice in decision-making? Utilitarianism Deontology Rights Theory Virtue Ethics None 36. Whistleblowing in business ethics refers to: Reporting unethical or illegal activities within an organization Promoting business transparency Supporting managerial decisions Encouraging workplace gossip None 37. A startup’s "break-even point" is the level where: Total revenue equals total cost The company begins making profits The company has zero expenses There is a loss in business operations None 38. Which of the following is NOT a characteristic of a successful entrepreneur? Risk-taking ability Adaptability Resistance to change Decision-making skills None 39. What is the main objective of business incubators? Providing financial investment only Offering mentorship and business support to startups Controlling the business operations of startups Limiting market competition None 40. Which of the following best defines bootstrapping in entrepreneurship? Relying on personal savings and revenue to fund a startup Securing venture capital investment early Applying for multiple bank loans Using crowdfunding to generate capital 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 Management, Ethics & Entrepreneurship 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 the first step in the strategic management process? Implementing strategies Evaluating performance Environmental scanning Monitoring competitors None 2. Which of the following is NOT a feature of effective planning? Goal-oriented Reduces uncertainty Eliminates all risks Facilitates decision-making None 3. Which type of decision-making is based on rules and standard procedures? Non-programmed decision Programmed decision Strategic decision Creative decision None 4. The BCG Matrix helps in: Business expansion Portfolio analysis Supply chain management Employee motivation None 5. Which of the following is an example of a SMART goal? Increase sales by 10% in six months Become the best company in the world Improve customer service someday Hire more employees None 6. Which type of organization structure is most suitable for large, diversified businesses? Functional Divisional Matrix Hierarchical None 7. Which leadership theory suggests that leaders are made, not born? Trait Theory Behavioral Theory Great Man Theory Situational Theory None 8. Which of the following is NOT a function of leadership? Influencing people Directing activities Increasing conflicts Motivating employees None 9. Transformational leaders focus on: Maintaining stability Transaction-based incentives Inspiring change and innovation Enforcing strict discipline None 10. In Maslow’s hierarchy of needs, self-actualization refers to: Basic survival needs Job security Personal growth and fulfillment Social belonging None 11. Which motivational theory focuses on fair treatment in the workplace? Expectancy Theory Equity Theory Two-Factor Theory Need Theory None 12. In communication, which component ensures that the message is understood? Sender Receiver Feedback Medium None 13. Which of the following is a downward communication channel? Employee to manager Manager to employee Peer-to-peer discussion Informal communication None 14. Which barrier to communication occurs due to misinterpretation of words? Semantic barrier Psychological barrier Physical barrier Technical barrier None 15. Which of the following is an example of non-verbal communication? Email Phone call Body language Written report None 16. Which of the following is NOT an ethical principle in business? Transparency Accountability Profit maximization at any cost Fair treatment of employees None 17. Which law in India prevents monopolistic trade practices? Companies Act, 2013 Competition Act, 2002 FEMA Act, 1999 SEBI Act, 1992 None 18. Which of the following best describes whistleblowing? Leaking confidential information for profit Reporting unethical practices within an organization Ignoring corruption in business Following company orders blindly None 19. Which of the following is an example of ethical consumerism? Buying fair trade products Supporting companies involved in environmental pollution Promoting fast fashion Avoiding locally produced goods None 20. Which of the following practices is considered corporate social responsibility (CSR)? Tax evasion Environmental conservation initiatives Hiding financial losses Unethical advertising None 21. Which type of entrepreneur is highly risk-averse? Innovative Entrepreneur Imitative Entrepreneur Drone Entrepreneur Fabian Entrepreneur None 22. Which of the following is NOT a source of business finance? Venture capital Angel investors Employee salaries Bank loans None 23. Which government initiative supports small businesses in India? Atmanirbhar Bharat Make in India Startup India All of the above None 24. Which document outlines a startup’s goals, market analysis, and financial projections? Tax report Business plan Memorandum of Understanding (MoU) Performance appraisal None 25. Which entrepreneur is known for revolutionizing e-commerce? Jeff Bezos Warren Buffett Ratan Tata Mukesh Ambani None 26. The term “bootstrapping” in entrepreneurship means: Raising funds from angel investors Self-funding a business without external investment Government funding Crowdfunding None 27. Which of the following is an advantage of franchising? High risk Established brand name No need for investment Lack of business support None 28. Which of the following is NOT an entrepreneurial trait? Risk-taking Creativity Fear of failure Visionary thinking None 29. Which funding option is suitable for startups without collateral? Bank loans Venture capital Fixed deposits Provident funds None 30. Which of the following is a key factor for entrepreneurial success? Ignoring customer needs Strong market research Lack of adaptability Avoiding risk-taking None 31. Which function of management involves coordinating activities and resources to achieve goals? Planning Organizing Leading Controlling None 32. What does SWOT analysis help a business identify? Sales strategies Strengths, Weaknesses, Opportunities, and Threats Financial risks Customer preferences None 33. Which of the following is an example of a "tall" organizational structure Few levels of hierarchy Flat communication structure Multiple layers of management Decentralized decision-making None 34. The "triple bottom line" approach focuses on: Profit, People, and Planet Cost-cutting, Marketing, and Growth Ethics, Leadership, and Technology Supply chain, Manufacturing, and Distribution None 35. Which of the following is an example of ethical behavior in business? Insider trading Fair treatment of employees Tax evasion Misleading advertising None 36. What is the primary purpose of an elevator pitch? To secure office space To quickly communicate a business idea to potential investors To hire employees To apply for bank loans None 37. Which entrepreneur is best known for the concept of microfinance? Elon Musk Muhammad Yunus Steve Jobs Bill Gates None 38. Which of the following is a key feature of an innovative entrepreneur? Prefers traditional business methods Introduces new products or services Avoids taking risks Relies solely on government support None 39. Which term refers to a company’s ability to bring new ideas, products, or methods to the market? Bureaucracy Innovation Market saturation Risk aversion None 40. A business incubator primarily helps startups by providing: Legal assistance Financial audits Mentorship and resources Customer feedback surveys 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 Management, Ethics & Entrepreneurship 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 the first step in the planning process? Setting objectives Analyzing alternatives Identifying resources Establishing policies None 2. A long-term business plan covering 3-5 years is called a: Strategic plan Tactical plan Operational plan Contingency plan None 3. Which decision-making technique helps in analyzing strengths, weaknesses, opportunities, and threats? PERT SWOT Analysis CPM Six Sigma None 4. Which type of planning is concerned with day-to-day operations? Strategic planning Tactical planning Operational planning Development planning None 5. Which management tool is used for scheduling and controlling large projects? Gantt Chart Just-in-Time (JIT) ISO 9001 Balanced Scorecard None 6. Delegation of authority is essential for: Centralization Decentralization Reducing employees Increasing costs None 7. Which type of organization structure is most flexible? Functional Hierarchical Matrix Bureaucratic None 8. Which of the following is NOT a leadership style? Autocratic Democratic Laissez-faire Bureaucratic None 9. McGregor’s Theory X and Theory Y is related to: Leadership styles Decision making Employee motivation Business ethics None 10. Which leadership style involves making decisions without consulting employees? Autocratic Democratic Laissez-faire Participative None 11. Herzberg’s Two-Factor Theory consists of: Needs and Desires Hygiene and Motivational Factors Rewards and Punishments Internal and External Factors None 12. Which is NOT a barrier to effective communication? Noise Feedback Language differences Organizational hierarchy None 13. Which communication method is the most formal? Verbal Non-verbal Written Visual None 14. Grapevine communication is a form of: Formal communication Informal communication Verbal communication Non-verbal communication None 15. Which motivational theory is based on Expectancy, Instrumentality, and Valence? Maslow’s Theory Herzberg’s Two-Factor Theory Vroom’s Expectancy Theory McGregor’s Theory X and Theory Y None 16. Which of the following is not a fundamental principle of business ethics? Accountability Transparency Fairness Secrecy None 17. Which law in India deals with consumer protection? Companies Act, 2013 Consumer Protection Act, 2019 Contract Act, 1872 Income Tax Act, 1961 None 18. The principle of "Whistleblowing" means: Reporting unethical behavior in an organization Encouraging unethical behavior Hiding fraud in an organization Avoiding workplace conflicts None 19. Which act in India regulates competition in business? Companies Act, 2013 Competition Act, 2002 SEBI Act, 1992 GST Act, 2017 None 20. Which is an example of unethical business practice? Insider trading Corporate social responsibility Fair trade policies Transparency in reporting None 21. Who is known as the "Father of Modern Entrepreneurship"? Peter Drucker Joseph Schumpeter Henry Ford Elon Musk None 22. Which of the following is NOT a type of entrepreneur? Intrapreneur Social entrepreneur Traditional entrepreneur Technopreneur None 23. Bootstrapping in entrepreneurship refers to: Using personal savings and resources to start a business Raising funds from venture capitalists Government grants for startups None of the above None 24. Angel investors provide funding to startups in exchange for: Equity Fixed interest Loan repayment Business closure None 25. Which of the following is a key feature of entrepreneurship? Risk-taking Routine job Government employment Fixed salary None 26. The primary goal of an entrepreneur is to: Generate profit Increase competition Work for an MNC Avoid risk None 27. Which government body promotes MSMEs in India? RBI SEBI SIDBI IRDAI None 28. Which funding option is available for startups in India? Mudra Loans Venture Capital Angel Investment All of the above None 29. Which initiative promotes women entrepreneurs in India? Stand-Up India Digital India Skill India Make in India None 30. Which government body promotes MSMEs in India? RBI SEBI SIDBI IRDAI None 31. Which function of management involves comparing actual performance with planned performance? Planning Organizing Controlling Directing None 32. Which of the following is a major component of Total Quality Management (TQM)? Cost-cutting Employee empowerment Bureaucratic structure Centralized decision-making None 33. Which of the following is a key component of a mission statement? Organizational objectives Employee salaries Competitor analysis Product pricing None 34. Ethical dilemmas arise when: Laws are unclear Moral values conflict with business goals There is perfect information available Employees strictly follow rules None 35. Which concept ensures businesses act in the best interest of stakeholders? Profit Maximization Business Ethics Corporate Social Responsibility (CSR) Market Expansion None 36. Which of the following is NOT considered an unethical business practice? Insider trading Tax evasion Fair competition False advertising None 37. Which of the following is an example of a "Green Business"? A fast-food restaurant A coal mining company A solar energy startup A traditional retail store None 38. Which funding source is commonly used for startups in the early stages? IPO Angel Investors Bank Loan Corporate Bonds None 39. Which government scheme supports startup businesses in India? Pradhan Mantri Jan Dhan Yojana Start-Up India National Rural Employment Guarantee Act Sarva Shiksha Abhiyan None 40. Which of the following is a characteristic of a successful entrepreneur? Risk-taking ability Avoiding decision-making Preferring routine work Fear of failure 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 Management, Ethics & Entrepreneurship 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 a function of management? Planning Controlling Marketing Directing None 2. Who is known as the father of scientific management? Henry Fayol F.W. Taylor Max Weber Elton Mayo None 3. Which of the following principles is given by Henry Fayol? Division of work Scientific selection Motion study Time study None 4. Which type of plan outlines how objectives are to be achieved? Strategic Plan Tactical Plan Operational Plan None of the above None 5. Which leadership style gives complete freedom to subordinates? Autocratic Democratic Laissez-faire Transformational None 6. What does SWOT stand for? Strengths, Weaknesses, Opportunities, Threats Sales, Work, Opportunities, Training Systems, Workflow, Operations, Trends None of the above None 7. Which of the following is not a function of staffing? Recruitment Selection Motivation Controlling None 8. Which function of management involves setting objectives and deciding how to achieve them? Organizing Controlling Planning Directing None 9. Maslow’s Hierarchy of Needs consists of how many levels? 3 4 5 6 None 10. Which technique is used to improve productivity by analyzing work movements? SWOT analysis Motion study Quality circle Benchmarking None 11. Business ethics deals with __________. Laws and regulations Morality in business decisions Profit maximization Customer preferences None 12. Which of the following is a principle of business ethics? Deception Fairness Exploitation Dishonesty None 13. Which approach to ethics focuses on the consequences of actions? Utilitarian approach Rights approach Fairness approach Virtue ethics None 14. Ethical dilemmas occur when there is a conflict between __________. Business growth and profit Individual values and organizational goals Short-term and long-term objectives All of the above None 15. Which act in India deals with corporate social responsibility (CSR)? Companies Act, 1956 Companies Act, 2013 Indian Contract Act, 1872 Consumer Protection Act, 2019 None 16. Ethics in business is essential for __________. Building reputation Increasing profits Reducing competition Eliminating government control None 17. Which of the following is an unethical business practice? Transparency Bribery Corporate social responsibility Fair wages None 18. Which term refers to the responsibility of businesses towards society? Corporate Governance Business Ethics Corporate Social Responsibility Consumer Rights None 19. What does ESG stand for in ethical business practices? Environment, Social, and Governance Employee, Strategy, and Growth Equity, Safety, and Guidance None of the above None 20. Which principle of business ethics focuses on honesty and truthfulness? Accountability Transparency Responsibility Fairness None 21. Who is an entrepreneur? A risk-taker in business A government employee A passive investor A wage worker None 22. Which type of entrepreneur focuses on innovation? Imitative Fabian Innovative Drone None 23. Which of the following is NOT a characteristic of an entrepreneur? Risk-taking Innovation Dependency Visionary thinking None 24. The process of starting a new business is called __________. Business Administration Entrepreneurship Partnership None of the above None 25. Which of the following is a government initiative to promote entrepreneurship in India? Stand-Up India Start-Up India Make in India All of the above None 26. What does MSME stand for? Micro, Small, and Medium Enterprises Market, Strategy, and Management Excellence Money, Sales, and Market Expansion None of the above None 27. Which financial institution supports entrepreneurs in India? RBI SIDBI SEBI NITI Aayog None 28. Which document is essential for starting a new business? Business Plan Balance Sheet Annual Report Profit and Loss Account None 29. A business incubator helps startups by providing __________. Office space Mentorship Funding opportunities All of the above None 30. Angel investors provide funding to startups in exchange for __________. Equity Fixed interest Salaries Tax benefits None 31. Which type of organizational structure is best for a rapidly changing environment? Hierarchical Matrix Functional Bureaucratic None 32. Which leadership theory suggests that leaders are born, not made? Trait Theory Behavioral Theory Transformational Theory Situational Theory None 33. Which of the following is an external factor affecting business decisions? Company policies Organizational culture Economic conditions Employee motivation None 34. In decision-making, what does the acronym PERT stand for? Program Evaluation and Review Technique Performance Evaluation and Resource Training Planning, Execution, Reporting, and Testing None of the above None 35. Which ethical concept refers to the duty of organizations to be accountable for their impact on society? Corporate Social Responsibility (CSR) Shareholder Value Maximization Market Expansion Consumer Sovereignty None 36. Which unethical practice involves inflating financial statements to mislead investors? Insider Trading Window Dressing Predatory Pricing Cartel Formation None 37. A company’s "Code of Ethics" primarily serves to: Improve profitability Set guidelines for ethical decision-making Reduce government regulations Increase employee salaries None 38. A startup’s "Break-even Point" refers to the level where: Total revenue equals total costs Losses start increasing Profits reach their maximum Business expansion is mandatory None 39. Which type of entrepreneur prefers to adopt existing business ideas rather than innovating new ones? Imitative Entrepreneur Fabian Entrepreneur Drone Entrepreneur Serial Entrepreneur None 40. Which government scheme provides collateral-free loans to micro and small enterprises in India? Mudra Yojana Start-Up India Digital India Make in India 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. 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Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Business Environment and Law 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. Liberalization in India began in the year: 1985 1991 2000 1975 None 2. Which of the following contracts is enforceable by law Social agreements Agreements without consideration Contracts entered into by a minor. Business agreements None 3. In a partnership, the liability of partners is usually: Unlimited Limited Proportional to their capital Equal for all partners None 4. Which economic system is based on the principle of free-market forces? Capitalism Socialism Mixed economy Command economy None 5. In contract law, ‘breach of contract’ leads to: Penal actions Damages Quasi-contracts Termination only None 6. A contract entered into by fraud is: Valid Void Voidable Illegal None 7. What is the term for a contract where both parties promise to perform? Executory contract . Executed contract Voidable contract Quasi-contract None 8. Which act governs the issue of shares by companies in India? SEBI Act, 1992 Companies Act, 2013 Contract Act, 1872 FEMA, 1999 None 9. Under the Negotiable Instruments Act, 1881, a cheque becomes stale after: 1 month 2 months 3 months 6 months None 10. Which of the following is not a negotiable instrument? Cheque Promissory note Fixed deposit receipt Bill of exchange None 11. What is the role of the WTO? Promote world peace Regulate international trade Offer development aid Set exchange rates None 12. The Indian Penal Code (IPC) was enacted in the year: 1857 1860 1872 1905 None 13. Which ministry is responsible for FDI policies in India? Ministry of Finance Ministry of Commerce and Industry Ministry of External Affairs Ministry of Home Affairs None 14. Which act regulates consumer rights in India? Consumer Rights Act, 2018 . Consumer Protection Act, 2019 Competition Act, 2002 Companies Act, 2013 None 15. Which of the following is not an essential element of a valid contract? Lawful consideration Competency of parties Reasonable terms Free consent None 16. GDP stands for? Gross Development Product Gross Domestic Product General Domestic Product Gross Domestic Profit None 17. What is the primary focus of the 'Startup India' initiative? Promote large-scale industries Support new entrepreneurs Boost agricultural development Encourage imports None 18. Under the Indian Contract Act, an agreement without consideration is void unless it is: In writing Made on a promissory note Out of love and affection Signed by a witness None 19. Which sector contributes the most to India's GDP? Agriculture Industry Services Manufacturing None 20. Which of the following is not a function of RBI? Monetary policy formulation Issuance of currency Tax collection Regulation of banks None 21. A minor can become a partner in a firm: Without any restrictions With the consent of the other partners Only for profits Cannot become a partner None 22. A partnership firm is dissolved by: Death of a partner Insolvency of a partner Mutual agreement All of the above None 23. The maximum number of members in a private company is: 50 250 200 NO LIMIT None 24. The doctrine of 'Caveat Emptor' means: Let the buyer beware Let the seller beware The seller is always right The buyer is always right None 25. The term 'public company' is defined under: Section 2(20) of the Companies Act, 2013 Section 2(70) of the Companies Act, 2013 Section 2(10) of the Companies Act, 2013 Section 2(40) of the Companies Act, 2013 None 26. A condition essential to the main purpose of a contract is called a: Warranty Guarantee Condition Assurance None 27. Which of the following is not an external environment factor for business? Political conditions Economic conditions Competitors Employee morale None 28. Which is not a type of negotiable instrument? Letter of credit Promissory note Cheque Bill of exchange None 29. Which law is concerned with environmental protection? Wildlife Protection Act, 1972 Air (Prevention and Control of Pollution) Act, 1981 Environment Protection Act, 1986 All of the above None 30. Which of the following is an agreement not enforceable by law? Void agreement Voidable contract Quasi-contract Enforceable contract None 31. Under FEMA, who regulates foreign exchange in India? RBI SEBI Ministry of Finance WTO None 32. Which principle governs the law of agency? Caveat emptor Vicarious liability Doctrine of estoppel Principal-agent relationship None 33. The right of lien can be exercised by a: Seller Buyer Agent Partner None 34. Who is known as the father of modern economics? Adam Smith John Keynes David Ricardo Alfred Marshall None 35. Which law deals with insider trading? Companies Act, 2013 SEBI Act, 1992 Contract Act, 1872 Competition Act, 2002 None 36. Which of the following organizations publishes the 'Ease of Doing Business' report? IMF World Bank WTO UNDP None 37. What does 'arbitration' aim to resolve? Civil disputes Criminal cases Tax disputes Family disputes None 38. The balance of trade refers to: The difference between exports and imports of goods The difference between revenue and expenditure Total trade volume Trade restrictions imposed by a country None 39. Which of the following acts governs corporate social responsibility (CSR)? Consumer Protection Act Companies Act, 2013 Contract Act, 1872 Environment Protection Act None 40. The main objective of the SEZ policy in India is to: Encourage exports Regulate trade Attract foreign investors Boost domestic employment 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. 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Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Business Environment and Law 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 does 'globalization' mean in the context of business? Isolation of economies Free flow of goods, services, andcapital across borders Nationalization of industries Restricting foreign trade None 2. Who can initiate insolvency proceedings under the Insolvency and Bankruptcy Code, 2016? Financial creditor Operational creditor Corporate debtor Operational creditor None 3. A 'fiduciary relationship' refers to: A relationship of trust A contractual relationship A commercial relationship A hostile relationship None 4. Which of the following is not a characteristic of a mixed economy? Coexistence of public and private sectors Dominance of the private sector Economic planning by the government Income inequality None 5. In which year was the GST (Goods and Services Tax) implemented in India? 2016 2017 2018 2019 None 6. Which authority oversees banking regulation in India? SEBI RBI IRDAI NITI Aayog None 7. What is the quorum for a meeting of the Board of Directors in a company? 1/3 of total directors or 2, whichever is higher 2 directors 50% of total directors None of the above None 8. What is 'consideration' in a contract? Mutual understanding Something of value exchanged between parties Negotiation terms Performance obligation None 9. A person who is authorized to act on behalf of another in business dealings is called: Manager Principal Agent Trustee None 10. Which of the following is not a part of the economic environment? Taxation policy Interest rates Social values Inflation rate None 11. What does 'FDI' stand for? Financial Domestic Investment Foreign Direct Investment Fixed Deposit Interest Foreign Domestic Industry None 12. The term 'business cycle' refers to: Fluctuations in business activities over time A company’s growth strategy Product lifecycle stages Consumer buying behavior None 13. Which organization is associated with international trade disputes? IMF WTO World Bank UNCTAD None 14. Which of the following is a regulatory body for the securities market in India? SEBI IRDAI RBI SIDBI None 15. Which act governs electronic contracts in India? IT Act, 2000 Contract Act, 1872 Companies Act, 2013 Consumer Protection Act, 2019 None 16. Which of the following is not a negotiable instrument under the Negotiable Instruments Act, 1881? Bill of exchange Promissory note Cheque Bank guarantee None 17. A partnership firm can have a maximum of how many partners? 10 20 50 60 None 18. The term 'inclusive growth' refers to: Development focusing on only urban areas Economic growth that benefits all sections of society Privatization of industries Growth of specific sectors None 19. What does the term 'bailment' mean? Transfer of goods ownership Delivery of goods for a specific purpose Sale of goods Lease of property None 20. Which of the following is an example of a monopolistic market structure? Railways Smartphones Vegetables Textbooks None 21. A minor’s agreement is: Valid Voidable Void ab initio Illegal None 22. What is the punishment for insider trading under the SEBI Act, 1992? Fine Imprisonment Both fine and imprisonment Suspension of trading license None 23. Which act governs the registration of trademarks in India? Copyright Act, 1957 Patent Act, 1970 Trade Marks Act, 1999 Companies Act, 2013 None 24. Which act governs environmental protection in India? Environmental Protection Act, 1986 Forest Conservation Act, 1980 Water (Prevention and Control of Pollution) Act, 1974 Air (Prevention and Control of Pollution) Act,1981 None 25. Who is referred to as a 'promoter' under the Companies Act, 2013? Shareholder Person who initiates the company formation Director Partner None 26. The main objective of the Competition Act, 2002 is to: Promote monopolies Prevent anti-competitive practices Regulate foreign trade Impose higher taxes None 27. Which of the following is not a feature of a public company? Free transferability of shares Minimum 7 members Restriction on inviting public deposits Unlimited liability None 28. Which of the following constitutes 'free consent'? Consent obtained under coercion Consent given without any mistake Consent obtained under undue influence Consent obtained under fraud None 29. Under the Companies Act, 2013, a private company must have a minimum of how many members? 1 2 7 10 None 30. An agreement not enforceable by law is called: Contract Voidable agreement Void agreement Unlawful agreement None 31. What is the limitation period for filing a case under the Consumer Protection Act, 2019? 6 months 1 year 2 year 3 year None 32. 'Rescission' of a contract means: Formation of a contract Cancellation of a contract Renewal of a contract None of the above None 33. Doctrine of 'Caveat Emptor' means: Buyer beware Seller beware Let the buyer rely on seller Seller guarantees quality None 34. Which of the following is an unfair trade practice under the Consumer Protection Act? Misleading advertisements Selling defective goods Charging unfair prices All of the above None 35. Which type of company is formed for charitable purposes? Public company Private company Section 8 company Holding company None 36. In case of partnership, partners share profits: Equally unless agreed otherwise According to contribution Based on seniority Randomly None 37. What is the minimum paid-up capital required for a private company? ₹1 lakh ₹5 lakh ₹10 lakh No minimum requirement None 38. Which is not an intellectual property right? Patent Trademark Copyright Mortgage None 39. A contract of guarantee involves how many parties? 3 2 4 5 None 40. Which of the following is not a mode of discharge of contract? Performance Breach Novation Coercion 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 Environment and Law 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 an economic policy? Fiscal policy Monetary policy Population policy Trade policy None 2. Which of the following is a characteristic of a developing economy? High per capita income Low level of industrialization Strong social welfare system Low unemployment rate None 3. What does 'Make in India' aim to promote? Import substitution Domestic manufacturing Export restrictions Rural employment None 4. What is the main objective of fiscal policy? Control inflation Manage public debt Regulate the money supply Achieve economic stability None 5. Which of the following is not a type of environment in business? Micro environment Macro environment Political environment Functional environment None 6. In which year was the Foreign Exchange Management Act (FEMA) enacted? 1999 2001 1991 1997 None 7. Which sector is not part of the primary sector? Agriculture Mining Manufacturing Fishing None 8. The main aim of privatization is to: Increase government control Reduce government expenditure Improve efficiency and profitability Strengthen public sector enterprises None 9. Which of the following is not a feature of globalization? Cultural exchange Reduced trade barriers Restricted movement of capital Worldwide communication None 10. Which index measures industrial growth in India? Consumer Price Index (CPI) Index of Industrial Production (IIP) Wholesale Price Index (WPI) Sensex None 11. The Indian Contract Act, 1872, governs: Criminal liabilities Civil liabilities Contracts and agreements Corporate management None 12. An offer that can be accepted only by performing the stipulated act is called a: Bilateral offer Unilateral offer Cross offer Counteroffer None 13. Which of the following contracts is void? Contracts with a minor Contracts with lawful consideration Contracts formed by mutual consent Contracts with free consent None 14. Under the Sale of Goods Act, 1930, the term 'goods' does not include: Existing goods Stocks and shares Growing crops Unascertained goods None 15. The term 'quasi-contract' refers to: Void contracts Agreements that resemble contracts Contracts enforceable by law Contracts with minors None 16. The right to information is guaranteed under which act? Right to Information Act, 2005 Consumer Protection Act, 2019 Companies Act, 2013 Negotiable Instruments Act, 1881 None 17. Which of the following does not amount to a breach of contract? Performance Anticipatory breach Actual breach Repudiation None 18. What does 'goods in deliverable state' mean? Goods that need additional processing Goods ready for delivery Goods in possession of the seller Goods in possession of the buyer None 19. The limitation period to file a case under a simple contract is: 1 year 2 year 3 year 6 year None 20. Which of the following is not a type of partnership? General partnership Limited partnership Joint partnership Partnership at will None 21. The Consumer Protection Act, 2019, is applicable to: Goods only Services only Both goods and services Government services only None 22. Who cannot become a partner in a firm? An adult A minor A solvent individual A corporate entity None 23. Which of the following is an exception to the rule of 'no consideration, no contract'? Contracts under coercion Natural love and affection Fraudulent contracts Illegal agreements None 24. Which one of the following is a coercion? Threat to commit suicide Persuasion to enter into a contract Threat to file a lawsuit Request for specific performance None 25. What is the age of majority under the Indian Majority Act, 1875? 16 years 18 years 21 years 25 years None 26. Under the Companies Act, 2013, the minimum number of directors in a public company is: 2 3 5 7 None 27. What is 'novation' in a contract? Renewal of an old contract Substitution of a new contract in place of the old one Termination of a contract Breach of contract None 28. A cheque is valid for how many months from the date of issue? 3 months 6 months 9 months 12 months None 29. Which of the following is not a mode of termination of agency? By agreement By performance By incapacity of the agent By fraud None 30. What is the minimum paid-up capital required for a public company? ₹1 lakh ₹5 lakh ₹10 lakh No minimum limit None 31. Under the Competition Act, 2002, which authority ensures fair competition? Competition Commission of India (CCI) Reserve Bank of India (RBI) Securities and Exchange Board of India (SEBI) Ministry of Corporate Affairs None 32. Who is called the 'principal' in a contract of agency? The person who appoints the agent The person who performs the act The person who signs the contract The person who breaches the contract None 33. What does 'misrepresentation' mean? False representation made innocently Deliberate misstatement of facts Threats to gain consent Mistake of fact None 34. Incorporation of a company means: Formation of the company Winding up of the company Partnership registration Conversion into a firm None 35. The primary objective of the Environment Protection Act, 1986, is to: Promote industrialization Protect and improve the environment Encourage mining activities Boost agricultural production None 36. Which of the following is not a valid consideration? Past consideration Future consideration Illegal consideration Present consideration None 37. A minor is incompetent to contract because: He is illiterate He lacks maturity He is not of legal age He is dependent on others None 38. Which of the following is a public document of a company? Articles of Association Books of account Internal audit report Employee records None 39. What does 'contingent contract' mean? Contract dependent on mutual consent Contract dependent on the occurrence of an event Void contract Illegal contract None 40. Which law governs cybercrimes in India? IT Act, 2000 Contract Act, 1872 Companies Act, 2013 Competition Act, 2002 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 Environment and Law 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 a feature of the business environment? Dynamic in nature Interrelated elements Predictable Multi-faceted None 2. Which sector contributes the most to India's GDP? Agriculture Industry Services Manufacturing None 3. What does the term 'liberalization' imply? Relaxing government restrictions Increasing tariffs Nationalization of industries Promoting monopoly None 4. Which organization is responsible for collecting and publishing economic data in India? NITI Aayog Reserve Bank of India Ministry of Statistics and Programme Implementation Ministry of Finance None 5. What is the main focus of a socio-cultural environment? Taxes and tariffs Consumer preferences and values Economic policies Technology trends None 6. The term 'disinvestment' is closely associated with: Selling public sector enterprises to private companies Increasing foreign investments Lowering domestic investments Closing down industries None 7. Which of the following is an example of a macroeconomic factor? Price of a product Inflation rate Competitor's marketing strategy Customer feedback None 8. India became a member of the World Trade Organization (WTO) in: 1995 2001 1985 1991 None 9. The term 'Make in India' focuses on: Increasing imports Boosting domestic manufacturing Liberalizing foreign investments Privatizing public companies None 10. Which policy aims to promote foreign trade in India? Foreign Trade Policy (FTP) Industrial Policy Fiscal Policy Monetary Policy None 11. What is a contract? A promise to perform a duty An agreement enforceable by law A moral obligation A court directive None 12. Which of the following is not an essential element of a valid contract? Free consent Lawful consideration Written form Competent parties None 13. Which section of the Indian Contract Act defines a contract? Section 2(h) Section 10 Section 5 Section 11 None 14. An agreement without consideration is valid when: Made on a stamp paper Expressed in writing Out of natural love and affection Registered in court None 15. What is the term for revocation of an offer? Counteroffer Acceptance Revocation Termination None 16. What is the limitation period for filing a suit for breach of contract? 1 year 2 years 3 years 5 years None 17. Who can sue for breach of contract? Any person A party to the contract A third party None of the above None 18. Which act regulates negotiable instruments in India? Negotiable Instruments Act, 1881 Companies Act, 2013 Partnership Act, 1932 Contract Act, 1872 None 19. A bill of exchange must be accepted within: 24 hours 48 hours A reasonable time No specific period None 20. What does 'quasi-contract' mean? Contract implied by law Illegal agreement Unwritten contract Invalid agreement None 21. Who is the regulatory authority for the insurance sector in India? RBI IRDAI SEBI Ministry of Finance None 22. Which of the following is not a negotiable instrument? Bill of Exchange Cheque Fixed Deposit Receipt Promissory Note None 23. The principle of 'Uberrima Fides' means: Buyer beware Utmost good faith Let the seller beware Mutual benefit None 24. What is the primary objective of the Consumer Protection Act, 2019? To promote trade To protect consumer rights To regulate businesses To increase competition None 25. Which section of the Companies Act deals with Corporate Social Responsibility (CSR)? Section 135 Section 101 Section 25 Section 77 None 26. The term 'winding up' refers to: Formation of a company Termination of a company Amalgamation of a company Auditing a company None 27. Which type of company does not require a minimum paid-up capital? Private company Public company One Person Company All of the above None 28. Which of the following is not an intellectual property right? Patent Copyright Mortgage Trademark None 29. What is the penalty for dishonor of a cheque under Section 138 of the Negotiable Instruments Act? Fine Imprisonment Both fine and imprisonment Suspension of account None 30. What is a 'voidable contract'? Cannot be enforced by law Valid until voided by one party Not a contract at all Invalid from the beginning None 31. Which of the following is not part of the external business environment? Competitors Suppliers Employees Technology None 32. What is the maximum tenure of a managing director under the Companies Act, 2013? 2 years 3 years 5 years 10 years None 33. Who is responsible for appointing the members of NCLT? President of India Chief Justice of India Central Government SEBI None 34. Which law governs cybercrimes in India? IT Act, 2000 Contract Act, 1872 Consumer Protection Act, 1986 Companies Act, 2013 None 35. The term 'fiscal policy' refers to: Government's spending and taxation policies Money supply regulation Trade policy formulation Bank interest rates None 36. Which article of the Indian Constitution provides for the right to constitutional remedies? Article 14 Article 19 Article 32 Article 21 None 37. In corporate law, the term 'bonus shares' refers to: Shares issued at a premium Shares issued for free to existing shareholders Shares purchased at a discount Convertible shares None 38. What is the meaning of 'Doctrine of Indoor Management'? Outsiders are presumed to have read internal company Internal decisions are binding on shareholders Outsiders can assume compliance with internal formalities Directors manage indoor meetings None 39. Who can file a case in consumer courts? Any consumer Only individuals Only organizations Only legal heirs None 40. The concept of 'Minimum Alternate Tax' (MAT) applies to: Individuals Companies Partnership firms Sole proprietorships 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!
