Commerce MCQS with Answers

Calculating machine is
Photo stat machine
Punching machine
Calculator
stapler machine

Basic objective of business is

Service to society
To earn profit
Exchange of goods

Mudaraba business is commenced with Mudaraba Ordinance

1992
1988
1984
1980

The letter written for the acquisition of information is

Circular letter
Agency letter
Quotation letter
Inquiry letter

The most important part of a letter is

Body of the letter
Letter heading
Subject

Two components of business are

Industry and trade
Profit and loss
Commerce and industry
Trade and commerce

Change in memorandum of association is possible by

Directors
Promoters
Government
Shareholders

Sole proprietorship is suitable for

Large scale business
Medium scale business
For all of these
Small scale business

The method of Card Board Filling System is

Safe
New
Old
Famous

Sole proprietorship is the

Developed form of business organization
Obsolete form of business organization
Modern form of business organization
Old form of business organization

The persons who form the joint stock company

Auditors
Shareholders
Mangers
Promoters

The liability of the shareholders of public Ltd Company is

Un limited
Limited
All wrong
No one

In partnership business decisions are made:

With the consultation of all the partners
According to the conditions of partnership deed
According to the business conditions
By only active partners

Advertising expenses are met by

Whole seller
Retailer
Owner of the goods
Consumers
The objective of advertisement is
Introduce the things
All of these
To reach the things to consumer
To save the things

Commerce relates to
Purchase and sale of goods
Earn profit
Exchange of goods

Development of National Trade solves the problems of

Unemployment
All of these
Water
Illiteracy

In sole-proprietorship the capital is

Limited
Unlimited
Depends upon sources of the owner

Maximum number of partners in partnership business is

21
20
2
10

The objective of advertisement is to

Reach the goods to consumers
Save the goods
Introduce the goods
All of these

Industry is a part of
Trade
Finance
Business
Commerce

International trade helps in

Stabilizing the price
All correct
Abolishment of monopoly
Increasing the production

Retailer sells goods to

Wholesaler
Hawkers
Industrialist
Consumers

Industry relates to
Trade
Exchange of goods
Production of good
Purchasing and selling of goods
The formation of Joint stock Company is maintained under
Company Act,1984
Company Act ,1911
Company Act,1972
Company Act,1932

The primary object of cooperative society is to

Earn profit
To make Allah Happy
Member’s welfare
Not to earn profit

The new latest machine of calculating is

Computer
Posting machine
Invoicing machine
Calculator

Literal meanings of trade are

Buying and selling
To exchange
To remove hindrance of time
Business

Which business organization can sale its shares to public:

Private Limited Company
Partnership
Public Limited Company
Sole proprietorship
The maximum strength of Public Ltd Company’s shareholders is
No limit
50
100
20

In public limited company the minimum number of shareholders are

20
10
2
7

Partnership is formed under Partnership act:

1940
1913
1932
1984

Maximum number of shareholders in private company is

20
10
100
50

It is required necessary for international trade

Agency letter
Circular letter
Letter of debit
Letter of credit

In order to obtain loan from the public company issuses

Dividend
Debentures
All of these
Shares

Wholesaler purchases
Small quantities
Suitable quantities
Bulk quantities
No buying and selling

Tell about like and dislike of

Trader
Retailer
Wholesaler
Mill owner

The persons who take part in the formation of the joint stock company are called
Debenture holders
Promoters
Directors
Shareholders

The important function of an office is

To sell the goods
To improve the efficiency of the management
To provide information
To purchase the goods

Co-operative society is formed under Act

1935
1925
1932
1984

The documents through which the public is offered to purchase the shares of the
company is called
Prospectus
Memorandum of association
Articles of association
Statement in lieu of prospectus

In partnership the age of minor partner is

22 years
Below 18 years
18 years
20 years

The persons performing services for the formation of joint stock Company are
called as
Debenture holders
Promoters
Underwriters
Shareholder
The formation and dissolution of sole proprietorship is
Easy
Very complicated
Complicated
Difficult

Calculate machine is
Punching machine
Stapler machine
Photo-state machine
Calculator

Minimum number of Directors in public Limited company?

Five
Seven
Three
All of these

The partner who performs work practically is known as

Nominal partner
Active partner
Minor partner
Passive partner

A person who takes part in economic activities to earn the profit is called
Industrialist
Banker
Businessman
Professional
Most important document of the company is
Prospectus of the company
Articles of association
Memorandum of association

Maximum number of partners in Banking business is

20
40
30
10