Question # 1

In order to wind up the sole tradership:

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The acceptance of the government is sought

No legal process is required

The meeting of administration is required

The will of the friends is required

Transfer of sole proprietorship:

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According to legal requirements

Not possible

Is done easily

all correct

In which form of business organization, the element of secrecy is remained or maintained

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Partnership

Joint stock company

Sole tradership

None of the above

A sole proprietor forms his business after

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The government's acceptance

Fulfilling the legal requirements

His own will

The permission of relatives

A sole proprietor may expand his business by:

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Employing more persons

Having a new shareholder

Both (a) and (b)

Having more shareholders

In sole tradership, the responsibility of loss is on

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The manger

Many people

A single person

The employees

Sole proprietor's is generally carried on:

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Small scale

Medium scale

Large scale

All the above

A sole proprietor forms his business after:

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The government's acceptance

Fulfilling the legal requirements

His own will

The permission of relative

In sole tradership

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The government provides finance

Only the trader provides finance

Many people collectively provide finance

The relatives provide finance

The formation of sole tradership as compared of partnership is

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Easy

Difficult

Same (No difference)

All of the above

Sole proprietor's is generally carried on

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Small scale

Medium scale

Large scale

All these are wrong

In sole tradership:

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The government provides finance

Only the trader provides finance

Many people collectively provide finance

The relatives provide finance

Sole proprietorship is:

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Non-flexible

Flexible

Durable

None of these

In sole tradership, the responsibility of loss is on:

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The manger

Many people

A single person

The employees

The sole tradership is a business organization:

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Modern times

Olden times

A combination of (a) and (b)

All the above

The expenses for the formation of sole tradership are:

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Less

More

Almost none

Not at all

The formation of sole tradership as compared partnership is:

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Easy

Difficult

Same (No difference)

All of the above

The decisions of sole trade ship depend on:

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The will of friends

The will of sole-trader

The will of government

The will of relatives

Not important for sole proprietorship:

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Capital

Interest of owner

Audit

Workers

The success of tradership is dependent to

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The administration

The capability of the manger

The capability of sole trader

The cooperation of friends

Relation of the owner/principal with the workers and consumers in sole proprietorship are:

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Not developed

Direct

Indirect

Not good (worst)

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Principle of Commerce Icom Part 1 English Medium Chapter 3 Online Test MCQs With Answers

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