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Online Tests
Principle of Commerce Icom Part 1 English Medium Online Test MCQs With Answers
Question # 1
If goods are bought from another country for exporting, it is called
Choose an answer
Export trade
Import trade
Entrepot trade
None of these
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Question # 2
For how much time the directors are selected in public ltd. company:
Choose an answer
2 years
3 years
7 years
10 years
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Question # 3
The receipt of public and bonded warehouses is used as
Choose an answer
Security
Business
Liability
None of these
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Question # 4
The most important document of a company is
Choose an answer
The memorandum
The articles
The prospectus
The accounts of company
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Question # 5
Whose signature is important on statutory report of the company
Choose an answer
Shareholders
Promoters
Directors
Auditors
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Question # 6
The life of tradership is:
Choose an answer
Long
Short
Defined/Fixed
Both long and short
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Question # 7
Due to advertisement, quality products are available at:
Choose an answer
Reasonable price
Low price
High price
None of the above
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Question # 8
The letters sent for personal or domestic matters are called:
Choose an answer
Formal letters
Routine letters
Personalletters
None of these
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Question # 9
In Modaraba the person who works is called
Choose an answer
Worker
Principle
Rab-ul-Mal
Modarib
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Question # 10
An official letter is a cheap means of communication as compared to other means due to its less cost
Choose an answer
Cheap means
Settlement of disputes
Written proof
None of these
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Question # 11
Choose the characteristics of a good filling system
Choose an answer
Accessibility
Safety
Time saving
All of above
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Question # 12
Which business organization requires legal permission for commencement:
Choose an answer
Sole tradership
Partnership
Joint Sock Company
None of these
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Question # 13
A person who deals in ready made items is
Choose an answer
Manufacturer
Worker
Trader
Distributor
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Question # 14
The objective of life insurance is to:
Choose an answer
Make investment
Lessen the financial burden
Get security for loan
All of above
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Question # 15
A non-active partner in a partnership
Choose an answer
Neither invests nor takes part in the business
Doesn't invest but takes part in the business
Invests but doesn't take part in the business
None of the above
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Question # 16
The number of parts in a business letter
Choose an answer
Seven
Five
Three
None of these
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