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Online Tests
Principle of Commerce Icom Part 1 English Medium Online Test MCQs With Answers
Question # 1
Creates link between the manufacturer and consumer:
Choose an answer
Retailers
Wholesalers
Agents
Middlemen
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Question # 2
The person who invests in a Modaraba company is called:
Choose an answer
Modarib
Capitalist
Rab-ul-mal
All are correct
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Question # 3
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
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Question # 4
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
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Question # 5
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
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Question # 6
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
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Question # 7
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
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Question # 8
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
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Question # 9
Who has the authority of nominating members in the committee of chamber of commerce & industry
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Government
Public
Businessmen
Workers
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Question # 10
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
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Question # 11
The expenses for the formation of sole tradership are
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Less
More
Almost none
Not at all
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Question # 12
The machine of opening letters in business centers is called:
Choose an answer
Mail opener
Foldingmachine
Punchingmachine
All are correct
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Question # 13
The sole tradership is a business organization of
Choose an answer
Modern times
Old times
A combination of (a) and (b)
All the above
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Question # 14
Who provides the capital for co-operative society
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Government
Members
Banks
None of these
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Question # 15
In Pakistan, a co-operative society is established under the following act
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1920
1925
1930
1935
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Question # 16
A charter party is
Choose an answer
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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