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. 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. 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