College for Advanced Studies

(An Intermediate project by Happy Palace Group of Schools)

Northeastern Chapter, St-1,Block-19, Federal “B” Area, Karachi, Phone: 02136361231, 02136361232

Paper: Principle of Commerce Maximum Marks: 75

Class: XI (Commerce) Time Allowed: 3 Hours
Date: 07 – Jan -2022
MID TERM EXAMINATION – 2022

Section-A Multiple Choice Questions (16 Marks)

Q No: 1. Attempt any all multiple choice questions.

1) Mineral oil industry is of this type:

a) Synthetic b) Extracting c) Fabricating d) Analytical
2) The essential part of Direct Channel is:
a) Businessman b) Trader c) Consumer d) Agriculture sector
3) This is not a function of Marketing:
a) Accounting b) Buying c) Selling d) Transportation
4) Rate of return is fixed on :
a) Bonds b) Shares c) Debentures d) None of these
5) The letter of credit is a:
a) Stock b) Demand c) Request d) None of these
6) Certificate of origin is necessary for :
a)Contractor b) Importer c) Exporter d) Retailer
7) This Risk is Uninsurable :
a) Fire b) Price c) Theft d) None of above
8) The burden of advertisement expenditure is shifted to:
a)Consumer b) Importer c) Exporter d) Retailer
9) This business organization is listed in Stock Exchange:
a)Sole proprietor b) Partnership c) Cooperative Society d) Public Limited Company
10) Partnership business is formed under the act of:
a) 1931 b) 1932 c) 1933 d) None of these
11) Finance is arranged in sole proprietorship by:
a)Partners b) Employees c) Single Person d) Shareholders
12) Letterhead contains the name of :
a) Bank b) Sender c) Receiver d) Demander
13) Letter of credit is issued by banker in favor of:
a)Importer b) Exporter c) receiving co d) None of these
14) Free of cost promotion of the product is called :
a)Advertisement b)Publicity c)Salesmanship d)none of above
15) Ownership is transferrable in :
a) Societies b) Partnership c) Company d) None of these
16) The ultimate objective of Business activity is:
a) Trade b) Partnership c) Profit d) None of these
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___ ________________________________________________________________________
Northeastern Chapter, St-1, Federal “B” Area, Block-19 Phone:021-36361231, 021-36361232
 College for Advanced Studies
(An Intermediate project by Happy Palace Group of Schools)
Northeastern Chapter, St-1,Block-19, Federal “B” Area, Karachi, Phone: 02136361231, 02136361232

SECTION “B” (Short-Answer Questions) 35 Marks

Note: Answer any SEVEN questions from this section. All questions carry equal marks.

Q no#2:
i) List the factors for establishing a new business. Describe any one.
ii) Write any five advantages of partnership firm.
iii) Write any five difference between a private limited company and a Public Limited
Company.
iv) What are kinds of Partners
v) Define the term of business, Industry and Profession.
vi) Define Partnership Agreement. Enlist any eight of its sources.
vii) Describe the conditions of dissolution of Partnership.
viii) Describe direct channels of distribution.
ix) Describe the Memorandum of Association.
x) Why is sole Proprietorship form of business organization most common in Pakistan.

SECTION “C” (Detailed-Answer Questions) 24 Marks

Note: Answer any TWO question from this section. All questions carry equal marks.

Q no#3:

i) Describe the qualities of a good business Businessman.

ii) Which factors should be considered in the selection of the type of a Business Ownership?
iii) Define Marketing and functions of marketing.
iv) Define Company. Describe the procedure of incorporation of a joint stock company.

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___ ________________________________________________________________________
Northeastern Chapter, St-1, Federal “B” Area, Block-19 Phone:021-36361231, 021-36361232