1st Year Principles of Commerce 2nd Quarter Book Paper

Q1. Multiple choice questions (Attempt all · 12 × 1 = 12)

1. 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

2. The small retailer sell their goods:

   1. On credit

   2. On cash

   3. On cash to rich and on credit to poor

   4. All of the above

3. Whole seller purchases goods in:

   1. Reasonable quantity

   2. Large quantity

   3. Small quantity

   4. All

4. The wholesaler creates a link between:

   1. Retailer and consumer

   2. Retailer and manufacturer

   3. Consumer and manufacturer

   4. All the above

5. Co operative society started in:

   1. 1840

   2. 1844

   3. 1845

   4. 1850

6. Due to foreign trade, the less developed countries:

   1. Becomes political slaves

   2. Do not progress

   3. Do not live alone

   4. None of the above

7. The indent is also called:

   1. Marine insurance policy

   2. Inquiry letter

   3. Bill of lading

   4. None of the above

8. The source of importing goods:

   1. Trader

   2. Indent firm

   3. Foreign purchase office

   4. All the above

9. Mobile retailer is an ancient kind of:

   1. Wholesaling

   2. Retailing

   3. Agency

   4. All of the above

10. The document through which goods are offered for sale:

    1. Quotation

    2. Agreement to sale

    3. Formal invoice

    4. Invoice

11. The wholesaler informs the public about his products through:

    1. Letters

    2. Telephone

    3. Advertisements

    4. All the above

12. The basic aim of a co operative society is:

    1. To store goods

    2. To earn profit

    3. To serve members

    4.  All of them