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. The sale of goods act applies to which type of contracts? Contract for sale of immovable property Contract for sale of services Contract for sale of movable property Contract for hire of goods None 2. Which of the following is an essential characteristic of a negotiable instrument? It can be transferred by delivery It must be signed by both parties It can be sold or transferred by the holder It must have a fixed term None 3. Which of the following is not a valid reason for the cancellation of a contract? Performance of the contract Impossibility of performance Mutual agreement between the parties Agreement made under duress None 4. In a contract of sale, the risk in goods passes from the seller to the buyer when: The buyer receives the goods The goods are delivered to the carrier The goods are identified and agreed upon by both parties The goods are paid for None 5. Which of the following statements about the Indian Partnership Act is correct? The partnership is a separate legal entity The liability of a partner is limited The minimum number of partners in a partnership is two A minor can be a full partner in a partnership firm None 6. Which of the following is not an implied condition under the Sale of Goods Act, 1930? The goods are of merchantable quality The seller has title to the goods The buyer is entitled to inspect the goods before purchasing The goods must be fit for the buyer’s purpose None 7. Under the Sale of Goods Act, when does the ownership of the goods pass to the buyer? When the goods are delivered to the buyer When the seller agrees to sell the goods When the contract is signed When the price is paid in full None 8. Which of the following is an example of a condition that is not implied under the Indian Contract Act? Condition of reasonable skill and care Condition for a specific time frame for performance Condition that the contract is lawful Condition that the contract is written None 9. The Consumer Protection Act, 2019 applies to which of the following? Only goods-related consumer disputes Services and goods Only services None of the above None 10. Which of the following is an example of an illegal contract? Contract for the sale of a car Contract for a legal service Contract to sell stolen goods Contract for a house rental None 11. Which of the following is an example of non-verbal communication? Email Voice tone Written report Telephone conversation None 12. Which of these is a disadvantage of written communication? It provides a permanent record It requires clear and precise language It cannot be misunderstood It lacks personal interaction None 13. Which of the following is the most effective medium for formal communication? Telephone Email Casual chat Grapevine None 14. Which of the following is not a component of effective communication? A clear message A receptive listener Noise or distractions A feedback mechanism None 15. In the communication process, "noise" refers to: The message being transmitted Barriers or disruptions in communication The feedback received The medium of communication used None 16. Which of these is an example of upward communication? Employee sending a report to a supervisor Supervisor sending an instruction to an employee Peer-to-peer discussion Manager sending instructions to subordinates None 17. Which of the following is the main purpose of effective feedback in communication? To evaluate the message To confirm receipt and understanding of the message To send the message To create misunderstandings None 18. Which of the following is true about "active listening"? It involves hearing the message only It requires the listener to give feedback and show understanding It involves ignoring the speaker It is less important than the message content None 19. Which of these is a common barrier to effective communication? Clear and simple message Use of appropriate feedback Prejudice or bias No distractions None 20. Which of the following is an example of horizontal communication? Subordinate to manager Manager to subordinate Peer to peer communication External communication None 21. A contract made by a person of unsound mind is: Voidable Void Valid Enforceable None 22. Which of the following is true about "Agency by estoppel"? Agency created by written agreement Agency created by conduct, without any express agreement Agency formed through necessity Agency by necessity None 23. A contract of guarantee is between: The principal debtor and the creditor The surety and the creditor The principal debtor, the surety, and the creditor The principal debtor and the guarantor None 24. Which of the following is not a negotiable instrument? Bill of exchange Promissory note Cheque Share certificate None 25. Which of the following is not an essential feature of a negotiable instrument? It must be signed It must be in writing It must specify the amount in words and figures It must be payable on demand None 26. Which of the following is true about "agency by ratification"? Agency created without any agreement Agency created by consent of the principal Agency created by a contract between the agent and the principal Agency created by the act of a third party None 27. The right of lien in a contract of bailment means: Right to sell the goods Right to keep the goods until payment is made Right to transfer ownership Right to return the goods None 28. In a contract of sale, which of the following is not a condition? Goods must be delivered in good condition Goods must be of merchantable quality Goods must be insured Goods must be fit for the buyer's purpose None 29. Which of the following contracts can be enforced by law? A void contract A voidable contract An illegal contract An unenforceable contract None 30. Which of the following is a feature of a contract of sale under the Sale of Goods Act, 1930? Transfer of possession without title Transfer of title without possession Transfer of ownership and possession Transfer of ownership only None 31. Which of the following is not considered a "contract of sale" under the Sale of Goods Act, 1930? Agreement to sell goods Contract for work and materials Contract for hire-purchase Contract for the sale of goods None 32. Which of the following is not a valid contract under Indian Contract Act, 1872? A contract with a minor A contract made with mutual consent A contract made with an insane person A contract made for a lawful object None 33. A contract in restraint of trade is: Valid Void Voidable Enforceable None 34. A contract is enforceable when it is: Made by a minor Made with free consent Made under duress Made with mutual mistake None 35. In a contract of sale of goods, the price is: The consideration for the sale of goods Not essential Paid after the sale is completed To be fixed by the seller None 36. In a contract of sale, if the goods are sold by description, the goods must: Be the same as the description Be inspected by the buyer Be of merchantable quality Be delivered within a specified time frame None 37. Which of the following is a condition of a valid contract under the Indian Contract Act, 1872? Written agreement Legal object Consideration for a third party Unilateral offer None 38. Which of the following is not an example of a void contract? A contract with a minor A contract for an illegal purpose A contract made by a person of sound mind A contract made under coercion None 39. The Indian Contract Act, 1872 governs which type of contracts? Contracts of sale and lease only Only contracts for the sale of goods All contracts except contracts of real property Only contracts related to property transfer None 40. In a contract of partnership, the liability of each partner is: Limited to their capital investment Unlimited Limited to a fixed amount Dependent on the agreement terms 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. 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