Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Fundamentals of Business Laws and Business CommunicationsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. What is the minimum number of persons required to form a public company? 3 2 5 7 None 2. The Indian Contract Act was enacted in the year: 1857 1872 1900 1912 None 3. Which of the following agreements is void? Agreements with consideration Agreements made with minors Agreements with lawful object Agreements in writing None 4. In case of a contract of sale, the seller transfers: Ownership of goods Possession of goods Both ownership and possession None of the above None 5. A cheque is a: Promissory note Negotiable instrument Bill of exchange All of the above None 6. Which of the following is an implied condition under the Sale of Goods Act, 1930? Delivery of goods Payment of price Merchantable quality of goods Return of goods None 7. Which of these is not a valid contract? Contract with an unlawful object Contract made by free consent Contract with consideration Written contract None 8. An offer can be revoked: Any time after acceptance Before acceptance After performance None of the above None 9. The term “quasi-contract” means: A contract made by performance An agreement enforceable by law A contract imposed by law None of the above None 10. In which year was the Sale of Goods Act enacted? 1930 1947 1962 1970 None 11. Communication is derived from the Latin word "communicare," which means: To write To convey To share To understand None 12. The process of converting ideas into messages is known as: Decoding Encoding Feedback Filtering None 13. Which of the following is not a barrier to communication? Language barrier Noise Active listening Prejudice None 14. Formal communication flows: In any direction Only upward In a prescribed direction None of the above None 15. Which of the following is an example of non-verbal communication? Letters Emails Facial expressions Reports None 16. The grapevine is an example of: Vertical communication Formal communication Informal communication Written communication None 17. Which of these is not an essential component of communication? Sender Receiver Message Law None 18. The main purpose of business communication is to: Impress customers Share information Provide entertainment Increase the workload None 19. Feedback is essential in communication because: It confirms receipt of the message It ensures understanding All of the above None 20. Effective communication requires: A clear and concise message Sophisticated language Expensive tools A lengthy explanation None 21. Horizontal communication refers to communication: From manager to subordinate Between peers From subordinate to manager With the external environment None 22. Which of the following is not a medium of written communication? Emails Reports Meetings Memos None 23. Communication in a business context is: Transactional Informal Non-essential Personal None 24. Body language includes: Gestures and posture Written words None of the above Oral speech None 25. Which of these is a formal type of communication? Office meeting Grapevine communication Social media chats Gossip None 26. Listening is different from hearing because it involves: Understanding and interpreting Just receiving sound Passive reception Ignoring the message None 27. What is the primary objective of downward communication in an organization? Sharing feedback Providing instructions Expressing complaints Gaining insights None 28. Paralanguage refers to: Body language Tone and pitch of voice Written communication Physical gestures None 29. Conflict in communication often arises due to: Clarity in message Misunderstanding Active listening Mutual respect None 30. The process of receiving and interpreting a message is called: Decoding Encoding Filtering Grapevine None 31. Who can file a complaint under the Consumer Protection Act, 2019? A consumer A group of consumers Any registered consumer association All of the above None 32. The term "caveat emptor" means: Let the buyer beware Let the seller beware Beware of the contract Let the government beware None 33. Which of the following is not a type of negotiable instrument? Promissory note Bill of exchange Stock certificate Cheque None 34. In a contract of indemnity, the promisor agrees to: Transfer goods to the buyer Pay damages to a third party Compensate for losses suffered Provide credit facilities None 35. Which of these is not essential for a valid contract? Offer and acceptance Lawful object Free consent Oral communication None 36. A breach of contract occurs when: Both parties fulfill their obligations One party fails to perform their obligations The contract is terminated by mutual consent The contract is legally void None 37. A bailment is valid when: Goods are delivered to another for a specific purpose Ownership of goods is transferred Money is lent to a borrower Goods are sold in a contract None 38. A minor’s agreement is: Valid Voidable Void ab initio Illegal None 39. The period of limitation for filing a suit for breach of contract is: 1 year 2 year 3 year 5 year None 40. Who is a holder in due course under the Negotiable Instruments Act? A person who obtains an instrument by fraud A person who obtains the instrument before maturity for consideration A person who is the original maker of the instrument A person who accepts a cheque None 1 out of 4 Great job on taking the INCOC Test! 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