Description : The term condition is defined in which of the following Section of the Sale of Goods Act. 1930? A. Section 12 (1) B. Section 12 (2) C. Section 12 (3) D. Section 12 (4)
Last Answer : B. Section 12 (2)
Description : Section 4, of the Sale of Goods Act 1930, deals with A. Sale B. Agreement to sell C. Both (a) and (b) D. None of above
Last Answer : C. Both (a) and (b)
Description : Which of the following types of conditions and warranties are covered by the Sale of Goods Act, 1930? A. Express B. Implied C. Both (a) and (b) D. Only (b)
Description : As per section 2(12), of the Sale of Goods Act, quality of goods includes A. State of goods B. Conditions of goods C. Both (a) and (b) D. None of above
Description : As per section 2, sub section 7 every kind of moveable property other than actionable Claim and money is called A. Goods B. Future goods C. Both (a) and (b) D. None of above
Last Answer : A. Goods
Description : The sale of goods act 1930 deals with the a) movable goods only b)period of contract c) immovable goods d)none of the above
Last Answer : a) movable goods only
Description : As per section 2(1)(j) of Consumer Protection Act 1986, 'manufacturer' means a person who (i) makes or manufactures any goods or part thereof (ii) does not make or manufacture any goods but assembles parts thereof made or manufactured by ... B. (i) & (iii) C. (ii) & (ii) D. (i), (ii) & (iii)
Last Answer : D. (i), (ii) & (iii)
Description : As per section 2(8), of the Sales of Goods Act, insolvent means a person A. Who has ceased to pay his debts in the ordinary course of business B. Or cannot pay his debts as they become due C. Both (a) and (b) D. None of above
Description : In case of ‘sale or return’ the buyer is deemed to have accepted the goods when: A. He does not intimate to the seller that he has rejected them B. He retains without intimating the seller that he has rejected them C. He rejects the goods but does not intimate the seller D. He pledges the goods
Last Answer : A. He does not intimate to the seller that he has rejected them
Description : Where an unpaid seller has made part delivery of the goods he may exercise his Right of _______ A. Return of remaining goods B. Lien on the remaining goods C. Sale to any other person D. None of above
Last Answer : B. Lien on the remaining goods
Description : A stipulation in contract of sale with reference to goods which are the subject there of may be A. A condition B. A warranty C. Both (a) and (b) D. None of above
Description : The agent having in customary course of business as such agent authority either to sell goods or to consign goods for the purpose of sale or to buy goods or to raise money on the security of goods is called A. Agent B. Mercantile agent C. Partner D. None of above
Last Answer : B. Mercantile agent
Description : Where the transfer of the property in the goods is to take place at a future time or subject to some condition, then such contract is called: A. An agreement to sell B. A contract to Sale C. Future Contract D. Conditional contract
Last Answer : A. An agreement to sell
Description : The goods identified and agreed upon at the time a contract of sale is made are called A. Ordinary goods B. Specified goods C. Scheduled goods D. None of above
Last Answer : B. Specified goods
Description : According section 5(2) subject to provision of any law for the time being in force a contract of sale may be A. Made in writing B. By words of mouth C. Partly in writing or partly in words of mouth D. All above ways
Last Answer : A. Made in writing
Description : As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the A. Merchantability. B. Wholesomeness. C. Quality or fitness for buyer's purpose. D. None of these.
Last Answer : C. Quality or fitness for buyer's purpose.
Description : The power to declare an area as a sanctuary or national park of central Government is Wildlife (Protection) Act is under: A. Section 38 B. Section 39 C. Section 18 D. Section 27
Last Answer : A. Section 38
Description : The Air Act have A. 56 Section B. 54 Section C. 58 Section D. 62 Section
Last Answer : B. 54 Section
Description : In case of death of a consumer who can prefer compliant under Section 2(1)(b) of Consumer Protection Act 1986 A. his legal heir or representative B. State Government C. consumer association registered under the Companies Act, 1956 D. No one can prefer complaint
Last Answer : A. his legal heir or representative
Description : As per section 2(1)(b) of Consumer Protection Act 1986, "complainant" means A. a consumer B. any consumer association registered under the Companies Act, 1956 C. the Central Government or any State Government, D. All the above
Last Answer : D. All the above
Description : For the purpose of attracting the provisions of section 138 of the Negotiable Instruments Act, 1881, a cheque has to be presented to the bank A. Within a period of six months B. Within a period of six ... . Within a period of 15 days from the date on which it is drawn D. None of the above.
Last Answer : B. Within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier
Description : Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section ... the indorsement in blank to an indorsement in full (Section 49) D. None of the above.
Last Answer : C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49)
Description : 'At sight' under section 21 of the Negotiable Instrument Act, 1881, means A. On presentation B. On demand C. On coming into vision D. None of the above.
Last Answer : A. On presentation
Description : Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means A. Where the indorser does not write anything on the instrument B. Where the indorser signs his name only on ... the indorser writes the name of the person who is directed to pay D. None of the above.
Last Answer : A. Where the indorser does not write anything on the instrument
Description : The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the ... the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above
Last Answer : A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof
Description : When, at the desire of the promisor, the promisee or any other person has done or abstained from doing or, does or abstain from doing or promises to do or to abstain from doing something, such ... called A. Reciprocal promise B. Consideration for the promise C. Counter offer D. Acceptance.
Last Answer : B. Consideration for the promise
Description : What does Section 17 of the Indian Contract Act, define? A. Coercion B. Undue influence C. Fraud D. Mistake
Last Answer : C. Fraud
Description : The Wildlife (Protection) Act contains: A. 7 Chapters B. 6 Chapters C. 5 Chapters D. 8 Chapters
Last Answer : A. 7 Chapters
Description : The Air Act contains: A. 5 Chapters B. 6 Chapters C. 7 Chapters D. 8 Chapters
Last Answer : C. 7 Chapters
Description : The Wildlife (Protection) Act contains: A. 66 Sections B. 6 Sections C. 7 Sections D. 46 Sections
Last Answer : A. 66 Sections
Description : The term ‘Dumping’ refers to (1) The sale of a sub-standard commodity (2) Sale in a foreign market of a commodity at a price below marginal cost (3) Sale in a foreign market of a commodity just at marginal cost with too much of profit (4) Smuggling of goods without paying any customs duty
Last Answer : Sale in a foreign market of a commodity at a price below marginal cost
Description : The Water Act contains: A. 4 Chapters B. 5 Chapters C. 7 Chapters D. 8 Chapters
Last Answer : B. 5 Chapters
Description : The sub-variance of material usage variance, known as Material mix variance is measured as A. Total standard cost - Total actual cost B. Standard cost of revised standard mix - Standard cost of ... unit price) * Actual quantity used D. (Standard quantity - Actual quantity) * Unit standard price
Last Answer : B. Standard cost of revised standard mix - Standard cost of actual mix
Description : National Income ignores: A. Sales of a firm B. Salary of Employees C. Exports of the IT Sector D. Sale of land
Last Answer : D. Sale of land
Description : Which of the following is not a cash inflow? A. Decrease in debtors B. Issue of shares C. Decrease in creditors D. Sale of fixed assets
Last Answer : C. Decrease in creditors
Description : The promotion technique for consumers according to which demonstrations and displays of products made at place of sale is called A. point of purchase promotion B. cents off deals C. sales premium D. advertising specialties
Last Answer : A. point of purchase promotion
Description : Which tool of the promotional mix consists of short-term incentives to encourage the purchase or sale of a product or service? A. Advertising B. Public relations C. Direct marketing D. Sales promotion
Last Answer : D. Sales promotion
Description : Pricing cues such as sale signs and prices that end in 9 become more influential when ________. A. Consumer price knowledge is poor B. Items are purchased frequently C. Items have been on the market a long time D. Prices are consistent year-round E. They are employed frequently
Last Answer : A. Consumer price knowledge is poor
Description : A warranty is a stipulation which is A. Essential to the main purpose of contract of sale. B. Essential for buyer's specific purpose. C. Collateral to the main purpose of contract of sale. D. None of these
Last Answer : C. Collateral to the main purpose of contract of sale.
Description : Practically, what is the most significant organ of the WTO? A. The Committee on Trade and Development B. The Council for Trade in Goods C. The General Council D. The Ministerial Conference
Last Answer : C. The General Council
Description : Theoretically, what is the most significant organ of the WTO? A. The Committee on Trade and Development B. The Council for Trade in Goods C. The General Council D. The Ministerial Conference
Last Answer : D. The Ministerial Conference
Description : Under a floating exchange rate system, an increase in U.S. imports of Japanese goods will cause the demand schedule for Japanese yen to: A. Increase, inducing a depreciation in the yen B. ... C. Increase, inducing an appreciation in the yen D. Decrease, inducing an appreciation in the yen
Last Answer : C. Increase, inducing an appreciation in the yen
Description : . If the actual rate of unemployment exceeds to natural rate of unemployment then: A. Actual output of the economy will fall below its potential B. Production will increase more than potential C. Consumption of goods decreases D. Both (a) and (c) above.
Last Answer : D. Both
Description : Full employment is the level at which there is A. Zero unemployment B. Normal rate of unemployment C. Less supply of labor D. Demand for goods is less than supply.
Last Answer : C. Less supply of labor
Description : GDP is the money value of final goods and serviced produced in the………….of a country during an accounting year A. Domestic territory B. Political territory C. Specific area D. FTZ area
Last Answer : A. Domestic territory
Description : National income is the ……………. Of all the goods and services produced by a country during a period of year A. Physical quantity B. Money value C. Value D. All the three
Last Answer : B. Money value
Description : Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.
Last Answer : C. The total value of goods and services measured at current prices
Description : What is Gross National Product: A. The total output of goods and services produced by the country’s economy B. The total domestic and foreign output claimed by residents of the country C. The sum of gross domestic product and investment
Last Answer : B. The total domestic and foreign output claimed by residents of the country