Question # 1

Creates link between the manufacturer and consumer:

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Retailers

Wholesalers

Agents

Middlemen

The person who invests in a Modaraba company is called:

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Modarib

Capitalist

Rab-ul-mal

All are correct

The objective of non-economic activities is to:

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Serve the society

Earn profit

Serve the society beside spiritual satisfaction

Earning the fame

The memorandum and articles of company are:

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Two names of the same document

Two different documents

They are not documents

Both have the same objective

In order to wind up the sole tradership

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The acceptance of the government is sought

No legal process is required

The meeting of administration is

The will of the friends is required

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

Choose the correct full form of F.O.B

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Free On Board

Forward Operating Base

Fall Out Boy

Freight On Board

The bill of lading reveals the

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Legal ownership of goods

Price of goods

Government ownership of goods

None of the above

Who has the authority of nominating members in the committee of chamber of commerce & industry

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Government

Public

Businessmen

Workers

If goods are bought from another country for exporting, it is called:

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Export trade

Import trade

Entrepot trade

None of these

The expenses for the formation of sole tradership are

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Less

More

Almost none

Not at all

The machine of opening letters in business centers is called:

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Mail opener

Foldingmachine

Punchingmachine

All are correct

The sole tradership is a business organization of

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Modern times

Old times

A combination of (a) and (b)

All the above

Who provides the capital for co-operative society

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Government

Members

Banks

None of these

In Pakistan, a co-operative society is established under the following act

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1920

1925

1930

1935

A charter party is

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A contract to reserve a ship for carrying goods

Application for opening the letter of credit

Letter of indemnity

All the three

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

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