Test CS 2006

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Subject: Business Environment and Law

Total Number of Question: 40

Time: 41 Minutes

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Name

Phone No

State

Which of the following is not a feature of the business environment?

Dynamic nature

Interdependence

Certainty

Complexity

None

Globalization means:

Integration of world markets

Export promotion only

Increasing imports

Privatization of industries

None

Which of the following is an example of a primary sector activity?

Banking

Mining

Retail trade

IT services

None

Which of the following is not included in the macro-environment?

Technological environment

Economic environment

Customer environment

Political environment

None

What does CSR stand for?

Corporate Sustainability and Responsibility

Corporate Social Responsibility

Consumer Social Responsibility

Corporate System Reform

None

Which of the following factors directly affects the micro-environment?

Political conditions

Demographics

Suppliers

Technological advancements

None

Privatization leads to:

Increase in public sector control

Reduction in government interference

Increased trade barriers

Decrease in market competition

None

The term 'FTA' in international trade refers to:

Free Trade Agreement

Foreign Trade Agreement

Fixed Tariff Agreement

Fair Trade Arrangement

None

Which of the following is not a characteristic of entrepreneurship?

Risk-taking

Innovation

Stability

Vision

None

10.

The headquarters of the World Trade Organization (WTO) is located in:

Washington, D.C.

New York

Geneva

London

None

11.

A valid contract requires:

Mutual consent

Competent parties

All of the above

Lawful object

None

12.

The Indian Contract Act, 1872, came into force on:

1st January 1872

1st July 1872

1st April 1872

1st October 1872

None

13.

Which of the following is not a quasi-contract?

Obligation of a person enjoying benefits of a non-gratuitous act

Obligation of a finder of goods

Obligation to repay money received by mistake

Obligation of free consent

None

14.

An agreement to do an impossible act is:

Void

Voidable

Valid

Illegal

None

15.

The sale of goods without the authority of the owner is governed by:

Doctrine of estoppel

Doctrine of ratification

Doctrine of caveat emptor

Doctrine of nemo dat quod non habet

None

16.

Which of the following does not constitute fraud?

Misrepresentation

Silence when duty-bound to speak

Active concealment of facts

Unintentional error

None

17.

Who cannot sue under the Consumer Protection Act, 2019?

A consumer

An unregistered association

A registered organization

The government

None

18.

The liability of a guarantor is:

Conditional upon the debtor's default

Independent of the debtor's liability

Primary in nature

Unlimited

None

19.

Which of the following is a characteristic of a negotiable instrument?

It must be in writing

It must be transferable

It must involve payment of money

All of the above

None

20.

Which act governs arbitration in India?

Arbitration and Conciliation Act, 1996

Contract Act, 1872

Companies Act, 2013

Consumer Protection Act, 2019

None

21.

In a public company, the minimum number of directors is:

None

22.

The maximum penalty for insider trading under SEBI regulations is:

₹1 crore

₹10 crore or 3 times the profit made, whichever is higher

₹5 crore or 2 times the profit made, whichever is higher

No penalty

None

23.

Under the Companies Act, an annual general meeting must be held:

Once every 6 months

Once every 9 months

Once every calendar year

Once every financial year

None

24.

Which of the following is not an unfair trade practice under the Consumer Protection Act?

False advertising

Selling goods below market price

Misrepresentation of quality

Offering spurious goods

None

25.

Who appoints the Chairperson of SEBI?

RBI Governor

Ministry of Finance

President of India

Prime Minister

None

26.

What is the primary aim of the Competition Act, 2002?

Regulate monopolies

Promote competition

Protect consumer rights

Manage foreign investment

None

27.

An offer is revoked by:

Lapse of time

Death of the offeror

Counteroffer

All of the above

None

28.

Which law governs e-commerce transactions in India?

IT Act, 2000

Companies Act, 2013

Consumer Protection Act, 2019

Contract Act, 1872

None

29.

A prospectus is issued by a company to:

Invite public to buy shares

Seek a loan

Recruit employees

Announce profits

None

30.

An unpaid seller can exercise the right of lien if:

The goods are in transit

The buyer becomes insolvent

Payment is overdue

All of the above

None

31.

Which of the following is a quasi-contract?

A contract created by mutual consent

A contract imposed by law

A contract entered into under duress

A voidable contract

None

32.

Doctrine of Ultra Vires applies to:

Partners in a partnership

Directors of a company

Public companies only

None of the above

None

33.

Which law regulates mergers and acquisitions in India?

Competition Act, 2002

SEBI Act, 1992

Companies Act, 2013

FCRA, 2010

None

34.

The primary objective of FEMA is:

Regulate foreign investments

Manage foreign exchange

Penalize unauthorized transactions

Impose trade barriers

None

35.

A prospectus must be issued by a company within how many days of its filing with the Registrar?

30 days

60 days

90 days

120 days

None

36.

Who governs the listing of securities in India?

RBI

SEBI

Ministry of Finance

Stock Exchanges

None

37.

Which of the following is an example of direct tax?

GST

Income tax

Customs duty

Excise duty

None

38.

Which document acts as a charter for a company?

Memorandum of Association

Articles of Association

Prospectus

Annual Report

None

39.

Which of the following laws regulates cybercrimes in India?

IT Act, 2000

Contract Act, 1872

Companies Act, 2013

Consumer Protection Act, 2019

None

40.

Doctrine of privity of contract means:

Only parties to the contract can sue or be sued

Third parties can enforce the contract

Contracts are confidential

Contracts require written consent

None

1 out of 4

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