Question # 1

If the price and quality of goods alongwith other factors are decided before the execution of order then it is called

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Close indent

Open indent

Both a and b

None of these

The decisions of sole trade ship depend on:

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The will of friends

The will of sole-trader

The will of government

The will of relatives

A sole proprietor may expand his business by

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Employing more persons

Having a new shareholder

Both a and b

Having more shareholders

joint stock company is that business organization which is

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Durable

Not ended

Not durable

None of these

If any business organization is considered as a body, then office is its:

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Capital

Heart

Brain

None of these

The literal meaning of trade of:

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Exchange

Buying and selling

Removal of human obstacles

Business

The wholesaler gives order to manufacturer:

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In advance

On spot

According to need

None of the above

The following has faster speed than hand typewriter

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Electric type machine

Automatic type machine

Photo state machine

None of these

An agent who is helpful in the sale and purchase of shares:

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Clearing agent

Underwriter

Forwarding agent

Auctioneer

The person who gets himself insured is called:

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Insured

Proposer

Insurance policy

Both (a) and (b)

There is an increase in following production because of home trade

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Foreign

National

Regional

Domestic

Due to warehousing facility

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Demand increases

There is control on supply

Supply increases

There is control on demand

Helps or facilitates to trade

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Business organizations

Retailers

Trade auxiliaries

National organizations

The methods of selling goods in foreign countries:

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Personal visit

Travelling agnets

All of the above

The style of an official letter is:

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Personal / private

Individual

Non-individual

All of these

The maximum number of partners in banking business are:

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Ten

Twenty

Thirty

Fifty

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

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