Question # 1

To whom does the directors of a company submit the copy of profit and loss account:

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Company's registrar

Company's auditor

Company's creditor

None of these

Because of an organized office, business:

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Expands / widens

Contracts

Remains unchanged

None of these

Commerce means the activities which help in:

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Buying and selling of goods

Transportation of goods

Transferring goods from factory to consumers

None of the above

The expenses for the formation of sole tradership are

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Less

More

Almost none

Not at all

Income from business is called

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Profit

Interest

Satisfaction

Utility

Name the of kinds of filing

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Central and horizontal filing

Central and departmental filing

Horizontal and vertical filing

Central and vertical filing

Who does write the delivery order:

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Exporter

Owner of goods at port

Importer's bank

Govt. agnet

What does happen after the exchange of goods:

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Development of cordial relations between the countries

More chances of fight or war

Economic crises arise

Scarcity of goods

An agent who can receive the payment from buyer

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Clearing agent

Export agent

Factor

Underwriter

Age of minor partner is:

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18 years

More than 18 years

Less than 18 years

None of these

The memorandum of company is prepared by

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Registrar

The promoters

The experts

The employees

Kinds of home trade:

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Two

Four

Three

None

The person who makes arrangements for the departure of goods:

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Forwarding agent

Clearing agnet

Commission agent

Underwritter

Important types of means of transport are

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Four

Three

Two

Five

Advertisement means:

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Production of goods

Sale of goods

Introduction of goods / products

Spoilage of goods

The partnership formed for any special project is called:

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Limited partnership

Particular partnersip

Partnership at will

All of these

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

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