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Guess paper of Principle of Commerce 1st year Guess paper

1st-First Year Notes | XI Class Notes


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Old 03-17-2010, 10:26 AM   #1 (permalink)
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Default Guess paper of Principle of Commerce 1st year Guess paper


Guess paper of Principle of Commerce

Friendsmania.net Notes

Q.1. Choose the correct answer for each from the given options.
1. Barter system means
  • Producing goods or services to make profit.
  • Exchanging goods or services for goods or services without the employment of money
  • Transfer of goods from the place of production to the ultimate consumers.

2. The liability of sole proprietor is unlimited. The means
  • The private property is safe and cannot be utilized in teh discharge of the debts.
  • The liability of the sol proprietor is limited up to his investment in the business.
  • Not only his business property, but also the personal property is liable to pay his business debts.
  • He can raise his funds because he has unlimited opportunity to expand has capital.

3. In order to form a partnership there must be a minimum of
  • Two persons butnot exceeding.
  • Two persons and maximum 22.
  • Two persons but exceeding 20.
  • Two persons but not exceeding space 20.

4. The number of shareholders in a public company is
  • Minimum 2 and Maximum 2.
  • Minimum 2 and Maximum 50.
  • Minimum 7 and Maximum 20.
  • Minimum 7 and not Upper Limit.
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5. Articles of Association is a document explaining rules and regulation regarding.
  • External Affairs of a Company.
  • Internal Affairs of a Company.
  • External and Internal affairs of a Company.
  • None of the Above.

6. The shareholders of a Company.
  • Cannot transfer their shares.
  • Can transfer their shares.
  • Cannot transfer their shares due to certain restrictions.
  • None of the Above.

7. The man purpose of cooperative societies is
  • To earn the maximum profit.
  • The welfare to their members. The society does not work for profit motive.
  • To earn the maximum profit with low cost of production.
  • To do business with abnormal profit for its members only.

8. The retailers are the middlemen who sell the goods in
  • Small Quantities
  • Large Quantities
  • In Bulk
  • All of the Above

9. When two countries buy and sell goods and services the activity is called
  • Foreign Trade
  • External Trade
  • International Trade
  • All of the Above

10. The import and export of merchandise of tangible goods is known as
  • Visible Trade
  • Invisible Trade
  • Visible and Invisible Trade
  • All of the Above

11. The Marketing mix is based on the following
  • Production, People, Price, Product
  • Maximum Profit with Maximum Cost
  • Production, Consumption, Distribution and exchange of goods.
  • Product, Price, Place, Promotion

12. Which form is free of cost for promoting goods and services?
  • Advertising
  • Personal Selling
  • Publicity
  • None of the Above

13. When the exchange of goods and services takes place between the citizens of the same country, it is called
  • Foreign Trade
  • External Trade
  • Domestic Trade
  • International Trade

14. When property is owned jointly without any intention of carrying on the business, it is called
  • Sole Proprietorship
  • Partnership
  • Co-ownership
  • Joint Stock Corporation

15. In the absence of partnership agreement
  • Profits are retained by the business
  • Profits must be shared equally among all the partners
  • Profits are distributed on the death of a partners.
  • Profits are deposited in a commercial bank

16. The word LIMITED at the end of a firm's name means
  • It only produces one commodity.
  • Shareholders cannot lose the money they have paid for the shares
  • The shareholders are not liable to pay the debts of the company
  • The Capital is limited.


Section "B" (Short Questions Answer)

Q.1 (a). Define Business and Commerce.
Q.1 (b). Discuss the problems faced in starting a new business.

Q.2 (a). Define Partnership.
Q.2 (b). Describe the advantages and disadvantages of partnership.
Q.2 (c). How is Partnership firm dissolved?

Q.3 (a). Define a Joint Stock Company.
Q.3 (b). State the advantages and disadvantages of a Joint Stock Company.

Q.4 (a). How is a Joint Stock Company incorporated?
Q.4 (b). Distinguish between Public Limited Company and Private Limited Company.

Q.5 (a). State the importance of an office in a big business organization?
Q.5 (b). Explain the different method of filling. Which method is more suitable for a large business organization.

Q.6 (a). Write down the procedure of importing goods from Saudia Arabia.
Q.6 (b). Name the documents used in importing good from abroad.

Q.7 (a). Write the importance of Business Finance?
Q.7 (b). Explain the sources of long term finance.

Q.8 (a). Write notes on any three of the following.
  • Types of Insurance
  • Means of Transportation
  • Warehousing and retailing
  • Co-Operative Societies
  • Function of Marketing
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Section "B" (Descriptive Questions Answer)

Q.9 (a). Describe the qualities of a good business letter.
Q.9 (b). Descriptive the different types of letter?

Q.10. Write a letter to a certain placing an order for supplying electronic items. Assume necessary particular and details.

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Old 08-14-2010, 12:15 AM   #2 (permalink)
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fantastic sharing

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Old 08-14-2010, 12:22 AM   #3 (permalink)
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