Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Corporate and Other LawsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. Companies are required to constitute a CSR committee if their net profit exceeds: ₹5 crore ₹10 crore ₹500 crore ₹1 crore None 2. The CSR spending requirement under Section 135 of the Companies Act, 2013 is at least: 2% of the average net profit for the preceding 3 years 5% of the average net profit for the preceding 3 years 2% of total revenue No specific amount is mandated None 3. CSR provisions are applicable to: All private companies Only public companies Companies meeting specified thresholds of net worth, turnover, or net profit Companies engaged in manufacturing only None 4. A company can be wound up by the Tribunal under which of the following circumstances? Non-filing of financial statements for 5 years Inability to pay its debts Reduction in share capital Both (a) and (b) None 5. Which of the following authorities has the power to investigate the affairs of a company? National Company Law Tribunal Registrar of Companies Securities and Exchange Board of India All of the above None 6. Who can file a petition for winding up a company? Creditors only Contributories only Creditors, members, or the company itself ROC only None 7. The Serious Fraud Investigation Office (SFIO) is empowered under which section of the Companies Act, 2013? Section 210 Section 211 Section 212 Section 213 None 8. A partner who has not invested capital but actively participates in business is called a: Nominal partner Active partner Sleeping partner Sub-partner None 9. Partnership can be formed for: Any illegal purpose Charitable purpose Profitable business Any purpose, legal or illegal None 10. The dissolution of a firm does not terminate: The partnership agreement Rights of third parties against the firm Liability for unregistered agreements Tax liabilities of the firm None 11. Performance of a contract must be done by: The promisor only A third party only The promisor or his agent Any person without the consent of the promisee None 12. A contract is discharged by: Breach Performance Novation All of the above None 13. When the performance of a contract becomes impossible due to a supervening event, the contract is: Valid Voidable Void Enforceable None 14. Under the Consumer Protection Act, 2019, a complaint can be filed by: Any consumer A group of consumers having a common interest The central or state government All of the above None 15. The term “Consumer” under the Act includes: A person who buys goods for resale A person who avails services for commercial purposes A person who buys goods for personal use Both (a) and (b) None 16. Which of the following is a Consumer Dispute Redressal Forum? District Commission State Commission National Commission All of the above None 17. The minimum working age under the Factories Act, 1948 is: 14 years 16 years 18 years No age limit None 18. Which of the following is a welfare provision under the Factories Act? Working hours Safety of workers Canteens and restrooms Minimum wages None 19. The maximum daily working hours in a factory are: 8 hours 9 hours 10 hours 12 hours None 20. First aid appliances are required to be provided under the Factories Act for: Every worker Every department Every shift Every 150 workers None 21. The minimum number of directors required for a public company is: 1 2 3 7 None 22. The maximum tenure of an independent director under the Companies Act, 2013 is: 3 years 5 years 10 years No limit None 23. Directors must attend at least __ board meetings in a year: 1 2 3 4 None 24. A director can be removed by: Shareholders by ordinary resolution Board of directors by majority vote Registrar of Companies National Company Law Tribunal None 25. The maximum term of an individual as an auditor of a listed company is: 3 years 5 years 10 years No limit None 26. Which of the following is NOT included in the powers of an auditor under the Companies Act, 2013? Access to books of accounts Demand for financial information from directors Examine secretarial records Approve the remuneration of key managerial personnel None 27. The first auditor of a company is appointed by: Board of Directors Shareholders in the AGM Registrar of Companies Ministry of Corporate Affairs None 28. The minimum percentage of shareholding required to file a complaint about oppression and mismanagement is: 5% 10% 25% 50% None 29. The Tribunal may order the winding up of a company if it is found guilty of: Fraudulent conduct Oppression of minority shareholders Mismanagement leading to a loss of public confidence All of the above None 30. An agent is personally liable if: The principal is disclosed The agent acts within the scope of authority The principal is undisclosed The agent acts gratuitously None 31. An agent must not delegate his authority unless: Delegation is customary The principal permits delegation The work is purely mechanical All of the above None 32. An unpaid seller has a right to: Resell the goods Lien on the goods Stop the goods in transit All of the above None 33. The right of lien can be exercised by an unpaid seller: Only when the buyer becomes insolvent Only when the goods are in transit When the goods are in the possession of the seller In all cases None 34. A negotiable instrument is transferred by: Mere delivery Registration with the government A contract of sale Written consent of the drawer None 35. If a promissory note is not dated, it is considered: Invalid Voidable Valid but unenforceable Valid None 36. The time limit to file a complaint under the Consumer Protection Act is: 1 year 2 years 3 years No time limit None 37. A complaint under the Consumer Protection Act can be filed for: Deficiency in goods or services Unfair trade practices Both (a) and (b) None of the above None 38. Which of the following is required for incorporation of an LLP? Minimum 2 partners Digital signature of one partner LLP agreement All of the above None 39. The liability of an LLP partner is: Unlimited for personal debts Limited to the extent of their contribution Equal to that of the LLP itself Determined by mutual agreement None 40. Annual returns for an LLP must be filed with the Registrar within: 30 days of the end of the financial year 60 days of the end of the financial year 120 days of the end of the financial year 90 days of the end of the financial year 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!
