SS2

Certainly! Here are 20 multiple-choice questions on the specified topics in commerce:

**Public Enterprise:**

1. What distinguishes a public enterprise from a private enterprise?

a) Limited government control

b) Government or public ownership

c) Focus on profitability

d) Exclusive access to capital

2. Who typically controls the decision-making process in a public enterprise?

a) Private investors

b) Board of Directors

c) Government or public authorities

d) Shareholders

**Private Enterprise:**

3. What is a key characteristic of a private enterprise?

a) Government ownership

b) Open to public investment

c) Operated for public benefit

d) Limited access to capital

4. In a private enterprise, who holds the ultimate ownership and control?

a) Shareholders

b) Board of Directors

c) Government authorities

d) Employees

**Memorandum of Association:**

5. What is the primary purpose of a Memorandum of Association?

a) Describing the internal rules of a company

b) Outlining the company's objectives and powers

c) Specifying the profit distribution plan

d) Identifying the company's employees

6. Which document is submitted during the company registration process to define its scope of
activities?

a) Articles of Association

b) Balance Sheet

c) Memorandum of Association

d) Certificate of Incorporation

**Articles of Association:**

7. What does the Articles of Association typically include?

a) Company's financial statements

b) Internal rules for management

 c) Names of shareholders

d) External audit reports

8. In a company, who has the authority to alter the Articles of Association?

a) Shareholders in a general meeting

b) Board of Directors

c) Regulatory authorities

d) Chief Executive Officer (CEO)

**Limited Liability Companies:**

9. What is a significant advantage of a Limited Liability Company (LLC)?

a) Unlimited liability for members

b) No legal distinction between owners and the company

c) Limited access to capital

d) Perpetual existence

10. In an LLC, how is the liability of the members usually limited?

a) Limited to their initial investment

b) Unlimited liability for all members

c) Limited to the company's profits

d) Determined by the government

**Terms of Trade:**
11. What do "FOB" and "CIF" stand for in terms of international trade?

a) Free On Board, Cost, Insurance, Freight

b) Freight On Board, Cash In Full

c) Firm Order Basis, Currency Inflow

d) Financial Order Book, Customs Inspection Fee

12. In terms of trade, what does the term "ex-works" (EXW) indicate?

a) The buyer pays all transportation costs

b) The seller covers all export duties

c) Both parties share shipping expenses

d) The goods are delivered at the buyer's doorstep

**Documents for Buying and Selling of Goods:**

13. Which document serves as evidence of the contract of carriage and receipt of goods by the carrier?

a) Invoice

b) Bill of Lading

c) Packing List

d) Certificate of Origin

14. What document outlines the terms and conditions of the sale, including the quantity and price of
goods?

a) Bill of Exchange

b) Proforma Invoice

c) Letter of Credit

d) Certificate of Inspection
**Trade Abbreviation:**

15. In international trade, what does "FTA" stand for?

a) Free Trade Agreement

b) Freight Transportation Allowance

c) Foreign Trade Association

d) Full Terms Accepted

16. What does the abbreviation "INCOTERMS" refer to in trade?

a) International Consortium of Trade Merchants

b) International Commercial Terms

c) Incorporated Trade Standards

d) Intercontinental Trade Management

**General:**

17. What is the primary purpose of a public enterprise?

a) Maximize shareholder wealth

b) Generate revenue for the government

c) Provide exclusive services to private individuals

d) Facilitate international trade

18. In a private enterprise, how are profits typically distributed?

a) Equally among employees

 b) Reinvested for business growth

c) Distributed to government agencies

d) Distributed to shareholders

19. What term is used to describe a company's legal responsibility for its debts, limited to the amount
invested by its shareholders?

a) Unlimited liability

b) Joint liability

c) Limited liability

d) Corporate liability

20. In the context of trade, what does the abbreviation "C&F" stand for?

a) Cost and Freight

b) Cash and Finance

c) Credit and Fulfillment

d) Customs and Formalities

Feel free to use or modify these questions for your purposes!