Question # 1

An agent who cannot get the possession of goods from principal is:

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Factor

Commission agent

Broker

None of these

Which factor plays an important role in improving the standard of living of the people and economic development

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Trade

Industry

Commerce

All the above

The person who makes arrangements for the departure of goods

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Forwarding agent

Clearing agent

Commission agent

Underwriter

Transfer of sole proprietorship:

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According to legal requirements

Not possible

Is done easily

all correct

Business can started after getting certificate of incorporation:

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Public company

Statutory company

Private company

All the above

The letters sent for personal or domestic matters are called.

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Formal letters

Routine letters

Personal letters

None of these

In order to determine the size of a business we consider

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The availability of the capital

The demand of the goods

The capacity of production

All the above

The expenses for the formation of sole tradership are:

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Less

More

Almost none

Not at all

Helps of facilitates the trade:

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Business organizations

Retailers

Trade auxiliaries

National organizations

To increase business, small packets of goods are and distributed among the people at:

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Less price

Free of cost

Original price

More profit

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 source of importing goods:

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Wholesaler (trader)

Indent firm

Foreign purchase office

All of the above

On which type of shares a company gives the profit on preferential basis:

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Ordinary shares

Preference shares

Elementary shares

On all the three

Wholesalers buy and resell merchandize to retailers and other merchants and to industrial, institutional and commercial users, and do not sell in significant amount to ultimate consumers are called

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Wholesale trade

Retail trade

Proper wholesale

None of the above

The members of chamber of commerce and industry can be

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Local persons

Foreign persons

Both

None of these

The liability of shareholders in co-operative society

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Limited

Unlimited

Both a and b

None

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

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