Question # 1

A charter party is

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A contract to reserve a ship for carrying goods

Application for opening the letter of credit

Letter of indemnity

All the three

Which is the modern and developed means of transportation of goods and passengers

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Water

Air

Land

All the above

The style of an official letter is:

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Personal / private

Individual

Non-individual

All of these

The most important document of a company is

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The memorandum

The articles

The prospectus

The accounts of company

The maximum number of partners in banking business are:

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Ten

Twenty

Thirty

Fifty

Economic activity which gives:

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Predetermined income

Fixed income

Both (a) and (b)

None of these

The first chamber of commerce in Britain was established in:

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1773

1768

1789

1772

Economic activities mean:

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Business

Business and profession

Business, profession and employment

None of the above

Different products are sent to final consumers through:

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Manufacturer

Trader

Means of transportation

Both (a) and (b)

The time recording machine is used in:

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Industrial concerns

Colleges

Hospitals

All are correct

What does a business organization mean:

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Sole tradeship

Partnership

Joint stock company

All the above

A co-operative society is established by:

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Government institutions

Capitalists

Financially weak consumer

All the people

The profit given to shareholder on their investment by a company is called

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Debenture

Share

Dividend

Bonus

A retailer buys and sells goods in:

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Reasonable quantity

Abundant quantity

Less quantity

All the above

If any person gets income on the basis of knowledge and skill then it is:

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Business

Economic activity

Profession

Trade

A Statutory meeting is called after getting the certificate of commencement:

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After 3 Months

After 6 Months

After 3 months and before 6 months

Within a year

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

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