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Online Tests
Principle of Commerce Icom Part 1 English Medium Online Test MCQs With Answers
Question # 1
The minimum number of directors in a multimembers private ltd. company:
Choose an answer
Five
Seven
Two
Not fixed
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Question # 2
The shares of a co-operative society can be transferred:
Choose an answer
At any time
After 6 months
After 1 year
All are wrong
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Question # 3
An agent means a person who
Choose an answer
Buys goods from manufacturer
Buys and sells goods
Renders services to other organizations
Produces goods himself
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Question # 4
Typewriter was invented in
Choose an answer
1870
1873
1973
None of these
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Question # 5
In order to determine the size of a business we consider
Choose an answer
The availability of the capital
The demand of the goods
The capacity of production
All the above
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Question # 6
What is written first in an official letter:
Choose an answer
Reference no.
Heading
Subject line
None of these
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Question # 7
State the procedure or steps of exporting goods are
Choose an answer
Obtaining and acceptance of indent
Registration
Obtaining license
All of these
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Question # 8
Who does transfer the goods from manufacturer to consumer:
Choose an answer
Retailer
Wholesaler
MIddleman
None of these
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Question # 9
What are the advantages of means of transportation ?
Choose an answer
Industrial development
Stability in prices
Expansion of market
All the above
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Question # 10
The expenses for the formation of sole tradership are
Choose an answer
Less
More
Almost none
Not at all
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Question # 11
The document issued by an authorized office after counting and checking the loaded goods on ship:
Choose an answer
Shipping order
Receipt of mate
Marine insurance
bill of lading
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Question # 12
Method of preserving papers:
Choose an answer
Indexing
Filing
Storage
All are correct
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Question # 13
Due to warehousing facility
Choose an answer
Demand increases
There is control on supply
Supply increases
There is control on demand
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Question # 14
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 # 15
Objective of the advertisement is to:
Choose an answer
Recruit old customers
Retain new customers
Both (a) and (b)
None of these
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Question # 16
Filing means:
Choose an answer
Systematic preservations of records
Non-systematic preservations of records
End of business documents
To run business in profitable way
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