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 : 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
Last Answer : C. Both (a) and (b)
Description : The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the ... then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity
Last Answer : B. Bailment
Description : A Unit Price (UP) contract provides: 1. a reimbursement of allowable costs plus a fixed fee which is paid proportionately as the contract progresses 2. a reimbursement of allowable cost of services ... unit rates and the final price is dependent on the quantities needed to carry out the work.
Last Answer : 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the final price is dependent on the quantities needed to carry out the work
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 : Which tools of the promotional mix is defined as any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor? A. advertising B. public relations C. direct marketing D. sales promotion
Last Answer : A. advertising
Description : Which tool of the promotional mix is defined as any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor? A. Advertising B. Public relations C. Direct marketing D. Sales promotion
Last Answer : A. Advertising
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 : 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 : An engagement to apply agreed-upon procedure engagement may be accepted, provided a. The CPA has audited the financial statements of the client. b. The CPA is independent with respect to the client. ... involved. d. The adequacy of the procedures to be performed will be determined by the CPA.
Last Answer : The distribution of the report will be limited only to specified parties involved.
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 : 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 Bailment of goods as security for payment of a debt or performance of a promise is called: A. Pledge B. Bailment C. Contingent contract D. Agreement
Last Answer : A. Pledge
Description : Future goods mean goods to be manufactured or produced or acquired by the seller A. In future prescribed time B. After making of contract C. Before making of contract D. None of above
Last Answer : B. After making of contract
Description : In Indian Contract Act, the term consensus ad idem means A. Parties under a mistake B. Parties under the free consent C. Parties agreeing upon the same thing in same sense D. None of these
Last Answer : C. Parties agreeing upon the same thing in same sense
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 : 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 : 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 : 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
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 : Section 2, sub-section______, of the Sale of Goods Act, 1930 defines "Goods" A. 5 B. 7 C. 6 D. None of above
Last Answer : D. None of above
Description : The seller is required to supply the goods which shall be fit for buyer's purpose where the A. Seller is the sole distributor of goods sold. B. Seller knows the particular purpose of buyer. ... and relies upon seller's skill and judgement. D. Buyer is uneducated and the person of rural background.
Last Answer : B. Seller knows the particular purpose of buyer.
Description : Water pollution can be identified by testing its A. PH level B. Biological Oxygen Demand (BOD) C. Both (a) and (b) D. None of these.
Description : ater pollution can be identified by testing its A. PH level B. Biological Oxygen Demand (BOD) C. Both (a) and (b) D. None of these.
Description : Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment. Which of the following would NOT be among Porter’s five forces? A. Industry competitors B. Technological partners C. Substitutes D. Buyers E. Potential entrants
Last Answer : B. Technological partners
Description : Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of ... period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3
Last Answer : D. 1, 2 and 3
Description : Sonia contracts with Anshul to buy a necklace, believing it is made of pearls whereas in fact it is made of imitation pearls of no value. Anshul knows that Sonia is mistaken and takes no steps ... the contract C. Sonia can cancel the contract alleging undue influence D. Sonia can claim damages
Last Answer : B. Sonia cannot cancel the contract
Description : Express contract means a contract made by A. words either spoken or written. B. documents. C. both words and documents. D. all of the above.
Last Answer : D. all of the above.
Description : A contract is made where: A. X agrees with Y to discover a treasure by magic. B. X bids at a public auction C. A takes a sea D. A sit in a public Omni bus.
Last Answer : D. A sit in a public Omni bus.
Description : Economic planning is in? A. Union list B. State list C. Concurrent list D. Not any specified list E. None of these
Last Answer : C. Concurrent list
Description : The king dies and two men, the true heir and an impostor, both claim to be his long-lost son. Both fit the description of the rightful heir: about the right age, height, coloring and general ... the one who re-fused is correctly identified as the rightful heir. Can you figure out why? -Riddles
Last Answer : The test was a blood test. The elder remembered that the true prince was a hemophiliac.
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 : In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)
Last Answer : a) specific
Description : Alteration of objects clause of MOA of a company requires A. Special resolution B. Approval of CLB C. Ordinary resolution D. Approval of ROC
Last Answer : A. Special resolution
Description : A company can change its name at its own discretion by passing _________ A. Ordinary resolution B. Special resolution C. Boards resolution D. None of the above
Last Answer : C. Boards resolution
Description : Arrange the following Acts in the order in which they came into force. (i) The Monopolies Restrictive Trade Practices Act (ii) Indian Contract Act (iii) The Sale of Goods Act (iv) The Foreign Exchange Management Act A. (il), (iii), (i ... (ii) C. (i), (ii), (iii), (iv) D. (iv), (iii), (ii), (i)
Last Answer : B. (iii), (i), (iv) and (ii)
Description : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful
Last Answer : c) unpaid seller lien does not revive
Description : which of the following modes of delivery of goods is considered effective for a valid contract of sale? a) constructive delivery b)symbolic delivery c) actual delivery d)all of this
Last Answer : c) actual delivery
Description : The merchantable in sec 14(2)defined in a) Indian contract act b) sale of goods act c) English sale of goods act d) none if this
Last Answer : c) English sale of goods act
Description : A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable
Last Answer : a) agreement to sell
Description : A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell
Last Answer : d)agreement to sell
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 : Where a contract has to be inferred from the conduct of parties, it is called A. Express contract. B. Implied contract. C. Tacit contract. D. Unlawful contract
Last Answer : B. Implied contract.
Description : A contract to perform a promise or discharge the liability of a third party is called— A. Contract of indemnity B. Contract of agency C. Contract of guarantee D. Contract of warranty
Last Answer : C. Contract of guarantee
Description : The consumers have an implied_____________ with the corporations A. Quasi Contract B. Social Contract C. Legal Contract D. None of the above
Last Answer : B. Social Contract
Description : The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.
Last Answer : B. The classical model.