Central College Multan

Test No 7

Name: _________ Test: Principal of Commerce Total Marks: 25

Roll No: ______ Class: I. Com Part I Date: ________

Q1: Multiple choice question.

I. The audit of a public limited company is:

a) Not necessary b) Necessary on yearly basis c) after every three years
d) After every six month
II. The owner of a company are:
a) The employees of company b) the shareholders c) the creditor d) the
debenture holders
III. Which organization can be listed at stock exchange:
A) Partnership b) joint stock company c) Sole proprietorship d) All the above
IV. The maximum number of persons in a public ltd company:
a) Thirty five b) Fifty c)Twenty d)Unlimited
V. Liability of shareholders in a joint stock company is:
a) Limited b) Unlimited c) None d) none of the above

Q2: Short answer the question.

1) Define Joint Stock Company.

2) State the number of shareholder in a joint stock company
3) Explain the organizational structure of a joint stock company.
4) State any five advantages of a joint stock company.
5) What is meant by the common seal of a joint stock company?

Q3: discuss the kinds of company according to ownership and according to incorporation.