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

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Principle of Commerce Icom Part 1 English Medium Online Test

Sr. # Questions Answers Choice
1 Liability of shareholders in a joint stock company is: Limited Unlimited None All are correct
2 Which business organization requires legal permission for commencement: Sole tradership Partnership Joint Sock Company None of these
3 Which business organization can be dissolved through a legal procedure: Sole tradership Partnership Joint Sock Company None of these
4 Which type of business organization has separate legal status apart from shareholders: A sole tradership A partnership Joint stock company None of these
5 The persons who work for the formation of company are called: The owners The employees The promoters The directors
6 The persons who mange the affairs of company are called: The shareholders The debentureholders The promotors The directors
7 The audit of a public limited company is: Not necessary Necessary on yearly basis After every three years After every six months
8 The maximum number of person in a public limited company: Thirty five Fifty Unlimited Twenty
9 The minimum number of persons in a multimembers private company: Seven Four Two Three
10 The owners of a company are: The employees of company The debentureholders The shareholders The creditors
11 The minimum number of persons in a listed public company: Seven Eleven Five Two
12 In Pakistan, Joint stock company is formed under: The Act of 1978 The Act of 1982 The Act of 1984 The Act of 1990
13 The first payment after dissolution of partnership is made to: Partners Partners for their debts External creditors None of these
14 The partnership formed for any special project is called: Limited partnership Particular partnersip Partnership at will All of these
15 The partners who participate in the business but people don't know them are: Silent partners Non active partners Nominal partners Active partner
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