Question # 1

To whom does the directors of a company submit the copy of profit and loss account:

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Company's registrar

Company's auditor

Company's creditor

None of these

What does a business organization mean:

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Sole tradeship

Partnership

Joint stock company

All the above

What is written first in an official letter:

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Reference no.

Heading

Subject line

None of these

Sole proprietor's is generally carried on

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Small scale

Medium scale

Large scale

All these are wrong

The wholesaler gives order to manufactures

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In advance

On spot

According to need

None of the above

A person who deals in ready made item is:

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Manufacturer

Worker

Trader

Distributor

Musharika is based on islamic:

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Concept of interest

Concept of non-interest

Both include

None of both

The best form of a partnership deed is

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Verbal

Written

Written & registered

None of the above

Success of a business office depends on

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Bribery

Workers

Machines

None of these

Exact copy of letter or document can be taken from:

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Photo state machine

Automatic typemachine

Electric typemachine

Type writer

Due to export trade:

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Increase in employment opportunities

Increase in foreign exchange

Relations with other countries establish

All of the above

The exporter gets the certificate of origin from:

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Chamber of commerce

Custom officials

Importing bank

Exporting banks

The owner of a company are

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The employees of company

The debentureholders

The shareholders

The creditors

Relation of the owner/principal with the workers and consumers in sole proprietorship are:

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Not developed

Direct

Indirect

Not good (worst)

How many sources of business finance

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2

3

4

5

A retailer sells goods to

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Consumer

Wholesaler

Manufacturer

All the above

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

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