Question # 1

Private warehouses are owned by:

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Business units

Private individuals

Corporation units

None of these

Typewriter was invented in

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1870

1873

1973

None of these

What are the advantages of mean of transportation

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Industrial development

Stability in price

Expansion of market

All the above

Economic activities mean

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Business

Business and profession

Business, profession end employment

None of the above

Maximum number of shareholders in a multi-members private company

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Ten

Fifty

No limited

Twenty

What is prepared after sending the goods

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Bill of lading

Invoice

Receipt of mate

All of these

The producer puts the burden of advertisement expense on

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Himself

Consumers

Wholesaler and retailer

Both a and b

The letter of credit is opened on the request of

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Importer

Exporter

Government

None of these

An official letter is a cheap means of communication as compared to other means due to its less cost

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Cheap means

Settlement of disputes

Written proof

None of these

While selling the goods, anagent is:

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Bound to follow principal's instructions

Not bound to follow principal's instructions

Master of his own will

None of these

In horizontal filing, files are kept:

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In flat or horizontal position

In vertical position

Fixed with ribbon on cardboard

None of these

A retailer buys and sells goods in:

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Reasonable quantity

Abundant quantity

Less quantity

All the above

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

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1920

1925

1930

1935

The expenses for the formation of sole tradership are

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Less

More

Almost none

Not at all

What is necessary for the formation of chamber of commerce and industry

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Constitution of chamber of commerce and industry

Rules and regulation of chamber of commerce and industry

Both a and b

None of these

If any person gets income on the basis of knowledge and skill then it is

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Business

Economic activity

Profession

Trade

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

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