Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Business Laws and Ethics Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email Area Pin Code 1. 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!
