Question # 1

Which business organization requires legal permission for commencement:

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Sole tradership

Partnership

Joint Sock Company

None of these

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 required

The will of the friends is required

Sole proprietor's is generally carried on:

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Small scale

Medium scale

Large scale

All the above

Due to warehousing facility

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Demand increases

There is control on supply

Supply increases

There is control on demand

An extra message is added at the end of letter called

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T.C

P.S

T.S

C.C

Different products are sent to final consumers through:

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Manufacturer

Trader

Means of transportation

Both (a) and (b)

Limited partnership is formed under limited partnership act

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1897

1907

1917

1927

Secondary industry can be divided into two parts

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Constructive, extractive

Constructive, manufacturing

Extractive, genetics

Constructive, genetics

The important source of sending a voice message is:

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Television

Radio

Video cassette

None of these

An agent who sells goods only for a specific organization is called

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Common agent

Travelling agent

Special agent

None of these

Because of import trade, the demand for national / home products:

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Reduces

Increases

Remains normal

Both (a) and (b)

The broker agent gets for his services:

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Commission

Profit

Surplus commission

Brokerage

The minimum number of persons in a public ltd. company

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Thirty five

Fifty

Unlimited

Twenty

A shopkeeper who buys goods in a less quantity and sells it to consumer is called:

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Wholesaler

Retailer

Producer

Agent

The basic objective of business is:

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Exchange

Earning Profit

Service to the society

Earning foreign exchange for the govt.

What is excluded from a co-operative society

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Consumer

Retailer

Wholesaler

Capitalist

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

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