Question # 1

A shopkeeper who buys goods in a less quantity and sells it to consumer is called

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Wholesaler

Retailer

Producer

Agent

Due to advertisement:

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Number of customer increases

Number of customer reduces

Number of customer remains the same

The old customers leave

When goods are received in home country after purchasing them from other countries is called

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Import trade

Export trade

Both a and b

None of these

The persons who mange the affairs of company are called:

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The shareholders

The debentureholders

The promotors

The directors

The characteristics of a good salesman

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Sells goods on very high prices

Introduces goods in very good manners

Sells goods on very low prices

Tells lie with customer about the qualities product

What type of security does life insurance offer ?

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Individual

Collective

Both (a) & (b)

None of (a) & (b)

If the court declares the bankruptcy of any partner in partnership then

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The partnership continues

The partnership becomes weak

The partnership becomes cancels

A new partner is admitted

In sole tradership, the responsibility of loss is on:

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The manger

Many people

A single person

The employees

An agent who is responsible for the receipt of money besides selling goods

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Broker agent

Delcredere agent

Commission agent

Special agent

Another name for quotation letter:

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Catalogue

Order

None of these

The quantity of advertisements in a departmental store is

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More

Less

Reasonable

None

Economic activities mean:

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Business

Business and profession

Business, profession and employment

None of the above

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

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