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Showing posts with label POC - Notes XI. Show all posts
Showing posts with label POC - Notes XI. Show all posts

Sunday 29 August 2021

PRINCIPLE OF COMMERCE For Class XI (Commerce Group) Important MCQs Compiled By Sir Faizan Qaiser - SQ Collegiate

PRINCIPLE OF COMMERCE
For Class XI (Commerce Group)
Important MCQs
Compiled By Sir Faizan Qaiser - SQ Collegiate

Tick ( ✓) The correct answer:
1. This partner has limited liability:
  • Active
  • Nominal
  • Secret
  • Minor ✓

2. Tax is imposed twice on:
  • Joint stock company ✓
  • Partnership
  • Sole proprietorship
  • Cooperative society

3. Systematic economic activity refers to:
  • Economics
  • Profession
  • Industry ✓
  • Commerce

4. Good employees can be admitted to the:
  • Sole proprietorship
  • Partnership ✓
  • Company
  • none of the above

5. Wholesaler keeps goods in:
  • Shop
  • Showroom
  • Warehouse ✓
  • factory

6. The business organization is listed in stock exchange:
  • Sole Proprietorship
  • Partnership
  • Cooperative society
  • Public limited company ✓

7. Middlemen who sell directly to consumers and small quantities are:
  • Retailers ✓
  • Exporters
  • Wholesalers
  • Producers

8. Accounts are published or printed by a:
  • Private company
  • Partnership
  • Public company ✓
  • None of these

9. Public subscription is required by a:
  • Public company ✓
  • Private company
  • Statutory company
  • Partnership company

10. Ownership is transferable in a:
  • Company ✓
  • Partnership
  • Sole proprietorship
  • Cooperative societies

11. The limited liability is a one of the qualities a:
  • Sole proprietorship
  • Joint Shack Company ✓
  • Partnership
  • All of the above

12. A company Management is run by:
  • Shareholders
  • Board of direction ✓
  • Partners
  • Proprietors

13. Registration with registrar of companies is compulsory for:
  • Company ✓
  • Public Company
  • Partnership
  • Sole proprietorship

14. Partnership contract should be:
  • Written
  • Oral
  • Mutually agreed
  • Flexible ✓

15. The life of a partnership is not adversely affected by:
  • Retirement of a partner
  • Admission of partner
  • Change in partnership agreement ✓
  • Death of a Partner

16. Business survives on the basis of:
  • latest information
  • Right information ✓
  • Relevant information
  • Secondary information all of the above

17. Long term investment:
  • Buying machines ✓
  • Renting plant
  • Hiring Robot
  • Buying raw materials

18. Capital is brought in by:
  • Banks
  • Shareholders ✓
  • Bondholders
  • none of the above

19. Risk is the problem faced by:
  • A bank
  • A business ✓
  • An insurance company
  • All of the above

20. Organization problem is solved by forming:
  • Sole proprietorship
  • Partnership
  • Company
  • Any of the above

21. A paid occupation of this type of employment requires a special education and training:
  • Trade
  • Profession ✓
  • Business
  • industry

22. This kind of business finance is payable within One year:
  • Short term ✓
  • Long term
  • Intermediate
  • Average

23. This Middleman creates direct link with Wholesaler and final consumer:
  • Retailers ✓
  • Broker
  • Producers
  • Agent

24. This is distributing function of marketing:
  • Buying
  • Warehousing ✓
  • Selling
  • Financing

25. The Minimum number of members required for the formation of public limited company is:
  • 5
  • 6
  • 7 ✓
  • 10

26. Certificate of origin is must for:
  • Import ✓
  • Export
  • External Trade
  • Local Trade