1st Year Principles of Commerce Full Book Paper

Q1. Multiple choice questions (Attempt all · 15 × 1 = 15)

1. The wholesaler creates a link between:

   1. Retailer and consumer

   2. Retailer and manufacturer

   3. Consumer and manufacturer

   4. All the above

2. Warehousing is a source of ...... for govt:

   1. Income

   2. Problem

   3. Loan

   4. None

3. What are the advantages of means of transportation?

   1. Industrial development

   2. Stability in prices

   3. Expansion of market

   4. All

4. The partnership formed for any special project is called:

   1. Limited partnership

   2. Particular partnership

   3. Partnership at will

   4. All of the above

5. Commerce is the component of:

   1. Industry

   2. Trade

   3. Business

   4. Agriculture

6. If the price of goods includes the expenses till custom duty, it is called:

   1. Duty paid

   2. Custom paid

   3. Inbond

   4. None of these

7. Objective of the Number of customer is to:

   1. Retain old customers

   2. Recruit new customers

   3. Both A and B

   4. None of the above

8. The indent is also called:

   1. Marine insurance policy

   2. Inquiry letter

   3. Bill of lading

   4. None of the above

9. In Modaraba:

   1. Two persond invest money

   2. Both person invest money and labour

   3. One person invest money and the other invest labor and experience

   4. All of the above

10. The basic objective of business is:

    1. Exchange

    2. Earning Profit

    3. Service to the society

    4. Earning foreign exchange for govt

11. Who provides capital in sole proprietorship?

    1. Sole owner

    2. Bank

    3. Workers

    4. Relatives

12. What has to be bought in order to become shareholder of a company:

    1. Shares

    2. Debentures

    3. Dividend

    4. None of the above

13. The minimum number of persons in a multi members private company:

    1. Seven

    2. Four

    3. Two

    4. Three

14. Number of chamber of commerce and industry in the sub continent before independence:

    1. 55

    2. 60

    3. 65

    4. 56

15. What is written first in an official letter?

    1. Reference no.

    2. Heading

    3. Subject line

    4. None of the above