Question # 1

How many sub-classification of proper wholesaler

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4

5

6

7

Which business organization can be dissolved through a legal procedure

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Sole tradership

Partnership

Joint stock company

None of these

If a person having a property of two lakhs and insurance of fifty thousand, then in case of loss the company will pay:

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25 thousand

50 thousand

1 lakh

Nothing

Which warehouses are the private property of business centers

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Government

Private

Bonded

None of these

In Pakistan, Joint stock company is formed under:

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The Act of 1978

The Act of 1982

The Act of 1984

The Act of 1990

Main types of middleman are:

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Wholesaler and broker

Retailer and factor

Merchant middleman trader and middleman agent

Export and import trader

The source of importing goods

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Wholesaler

Indent firm

Foreign purchase office

All the above

Commerce and business

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The scope of business is wider than commerce

The scope of commerce is wider than business

Both have the same scope

Both have a wider scope than each other

Modarba company is formed under:

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Modarba companies ordinance 1980

Modarba companies ordinance 1984

Modarba companies ordinance 1960

Modarba companies ordinance 1970

If any partner is not in a position to compensate the business loss called:

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Retired partner

Active partner

Weak partner

Insolvent partner

The persons who manage the affairs of company are called

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The shareholders

The debentureholders

The promoters

The directors

If goods are bought from another country for exporting, it is called:

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Export trade

Import trade

Entrepot trade

None of these

The best form of a partnership deed is

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Verbal

Written

Written & registered

None of the above

The details of the allotted shares is mentioned in:

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Statutory report

Annual meeting report

Special meeting report

All of them

For the poor, advertisement is

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Non-effective

Reason of happiness

Cause of financial tention and despair

Wastage of time

What type of security does life insurance offer

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Individual

Collective

Both a and b

None of a and b

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

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