Govt.

College, GRW
(Commerce Department) Roll No. ……………………………
First Semester 2018
Examination: BS.Commerce (Hons) 4 Year Program
Subject: Introduction to Business Time Allowed: 15 min.
Paper: Objective Type Max. Marks: 10

Circle the one which you think right:

1. Business include the following activity
1- Economic activity 3- non- economic activity
2- Social activity 4- none of these
2. If a person earn income through its knowledge & skills it’s called:
1- Business 3- economic activity
2- Profession 4- trade
3. The person who sold the goods without manufacturing it is called:
1- Manufacturer 3- salaried person
2- Trader 4- sale person
4. Industry include the activity:
1- Buying the goods 3- selling the goods
2- Manufacturing the goods 4- All of these
5. Commerce is a part of:
1- Industry 3- trade
2- Business 4- all of these
6. Minimum members of unlisted company:
1- 7 3- 3
2- 10 4- 50
7. Director for public listed company are:
1- Ten 3- Three
2- Seven 4- None of the above
8. Partnership act passed in:
1- 1932 3- 1934
2- 1936 4- none of these
9. In partnership of banking the maximum partners are:
1- 20 3- 10
2- 30 4- none of these
10. If the partnership is done for the particular work then it called:
1- Limited partnership 3- particular partnership
2- Unlimited partnership 4- none of these
 Govt. College, GRW
(Commerce Department) Roll No. ……………………………
First Semester 2018
Examination: BS.Commerce (Hons) 4 Year Program
Subject: Introduction to Business Time Allowed: 1:45 min.
Paper: Objective Type Max. Marks: 40

Note: Question 1 is compulsory; you can attempt any 3 from the rest.

Q-1 Following are some business terms, explain shortly according to your knowledge. (20)
 Define Business and skills of Businessman?
 Branches of Business and Describe its sub-headings?
 What is partnership and list down its merits and demerits?
 What is Memorandum of association and Article of Association?
 Define sole proprietorship and its merits and demerits?
Q- 2 What are the rights, duties & liabilities of partner in partnership? (15)

Q- 3 What is company what are merits and demerits of company and also Explain the
Difference between Private and Public Company? (15)