Question # 1

In sole tradership, the responsibility of loss is on:

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The manger

Many people

A single person

The employees

Transfer of sole proprietorship:

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According to legal requirements

Not possible

Is done easily

all correct

Who provides capital in sole proprietorship:

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Sole owner

Bank

Workers

Relatives

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)

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

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Partnership

Joint stock company

Sole tradership

None of the above

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

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

Sole proprietor's is generally carried on:

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Small scale

Medium scale

Large scale

All the above

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 participants in sole tradership are/is

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One

Two

Three

Five

The sole tradership is a business organization of

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Modern times

Old times

A combination of (a) and (b)

All the above

In sole tradership, the derisions are held

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Belatedly

Without any delay

After the meeting of administration

With the suggestions of relatives

The expenses for the formation of sole tradership are:

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Less

More

Almost none

Not at all

Not important for sole proprietorship:

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Capital

Interest of owner

Audit

Workers

In sole tradership, the responsibility of loss is on

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The manger

Many people

A single person

The employees

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 life of tradership is:

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Long

Short

Defined/Fixed

Both long and short

Sole proprietorship is:

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Non-flexible

Flexible

Durable

None of these

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

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

The decisions of sole trader ship depend on

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The will of friends

The will of sole-trader

The will of government

The will of relatives

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

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