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Online Tests
Principle of Commerce Icom Part 1 English Medium Online Test MCQs With Answers
Question # 1
The report send along with the notice of statutory meeting is called:
Choose an answer
Company report
Auditor'sreport
Statutoryreport
Profit and lossreport
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Question # 2
Which is the safest and effective means of transportation
Choose an answer
Land
Water
Air
All the above
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Question # 3
The source of importing goods:
Choose an answer
Wholesaler (trader)
Indent firm
Foreign purchase office
All of the above
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Question # 4
One to advertisement, the sale of goods
Choose an answer
Decreases
Increases
Remains same
Both a and b are possible
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Question # 5
Economic activity which gives:
Choose an answer
Predetermined income
Fixed income
Both (a) and (b)
None of these
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Question # 6
Active partner in a partnership business
Choose an answer
Invests but doesn't take part in the business
Neither invests nor takes part in the business
Invests and takes part in the business
None of the above
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Question # 7
The minimum number of directors in a multimembers private ltd. company:
Choose an answer
Five
Seven
Two
Not fixed
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Question # 8
In Modaraba:
Choose an answer
Two persons invest money
Both persons invest money and labour
One person invests money and the other invests labour and expenses
All of the above
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Question # 9
In horizontal filing, files are kept
Choose an answer
In flat or horizontal position
In vertical position
Fixed with ribbon on cardboard
None of these
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Question # 10
Because of foreign trade, the demand for national/ home products
Choose an answer
Reduces
Increases
Remains normal
Both a and b
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Question # 11
The persons who sell their purchased goods are called:
Choose an answer
Merchant middleman
Middlemanagents
Both (a) and (b)
Factor
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Question # 12
The quantity of goods sold to consumers in a departmental store is:
Choose an answer
Reasonable
More
Small
All of the above
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Question # 13
The businessman is:
Choose an answer
A trader
A producer
A distributor
A trader, producer and distributor
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Question # 14
A Statutory meeting is called after getting the certificate of commencement:
Choose an answer
After 3 Months
After 6 Months
After 3 months and before 6 months
Within a year
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Question # 15
What does happen after the exchange of goods
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Development of cordial relations between the countries
More chances of fight or war
Economic crises arise
Scarcity of goods
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Question # 16
An agentt means a person who:
Choose an answer
Buys goods from manufacturer
Buys and sells goods
Renders services to other organizations
Producers goods himself
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