P.O.

C 2014 private
MCQ`s
1. Complete business secrecy is possible only in: (2014 P)
a) Partnership
c) Joint stock company
b) Sole proprietorship
d) Co. operative
2. This partner is not eligible to take part in the management of partnership from of
business; (2014 P)
a) Sleeping partner
c) Nominal partner
b) Minor partner
d) Secret partner
3. The rules and regulation of CO. are described in the: (2014 P)
a) Prospectus
c) Memorandum of association
b) Article of association
d) Resolution
4. The owners of a partnership firm are the: (2014 P)
a) Shareholder
c) Managers
b) Partners
d) Auditors
5. It runs on no profit no loss basis: (2014 P)
a) Partnership
c) Joint stoke company
b) Sole proprietorship
d) Co. operative
6. These risk are un-insurable (2014 P)
a) Fire
c) Theft
b) Price
d) Marine
7. Purchasing order of goods from the importer in the exporter is called: (2014 P)
a) Dock warrant
c) Shipping order
b) Indent
d) Delivery order
8. A summary of the academic qualification and other personal information of a
candidate for a job is called: (2014 P)
a) Job application
c) Resume
b) Sales latter
d) Circular letter
9. The aim of foreign trade is to increase: (2014 P)
a) Production and income
c) Employment
b) Industries
d) Foreign exchange
10.
This refers to the moving of goods from the point of production to the point of
production to the point of consumption: (2014 P)
a) Storage
c) Information
b) Transportation
d) Production
11.
Bonded warehouses are used by the: (2014 P)
a) Importer
c) Wholesaler
b) Retailer
d) Exporter
12.
The burden of expenditure for administrative is ultimately shifted to the: (2014

P)

a) Consumers
c) Producer
b) Retailer
d) Wholesaler
13.
Fidelity insurance covers: (2014 P)
a) Health
c) Credit transaction
b) Theft
d) None of these
14.
Clearance sale is a selling device in: (2014 P)
a) Retailing
c) warehousing
b) Wholesaling
d) none of these

15.

the chamber of commerce provides its service

a) bankers
c)
b) doctors
d)
16.
a company, formed under a company law is a:
a) chartered company
c)
b) statutory company
d)

e) P.O.C 2014 private

f) SECTION B

g) 2. (i)
business
trade
profession
h)
(ii)
i)
(iii)
common
j)
(iv)
k)
(v)
l)
OR
m)
(vii)
n)
OR
o)
(ix)
p)
(x)

to: (2014 P)
politicians
businessmen

(2014 P)
registered company
private company

Define the following terms: (2014 P)

write the basic considetions for starting a new business (2014 P)

why is sole-proprietorship form of business organization most
in Pakistan? (2014)
what is partnership deed? List its contents. (2014 P)
How does a public company differ from a private Co. (2014 P)
Differentiate between shares and debentures. (2014)
mention the steps required for importing goods. (2014 P)
list the document used in exporting goods. (2014 P)
what are the sources of short term finance? (2014 P)
what are the various common means of transportation in Pakistan?

(2014 P)

q) P.O.C 2014 private

r) SECTION C
s) 3. Define marketing and explain its function. (2014 P)
t) OR define company. Describe the procedure of incorruption of a joint stock
company(2014 P)
u) 4. what is meant by business finance? Describe its kinds and sources(2014

P)

v) 5. Draft an order letter for the purchases of electrical goods. Assume

necessary details and particulars (2014)
w) OR describe the different parts of commercial letter and explain these with the
help of a sketch (2014 P)
x)
y)
z)
aa)

ab) P.O.C 2012 regular

ac) MCQ`s
1. chain stores and super market are example of: (2012 R)
a) wholesaling
c) Importing
b) Retailing
d) Exporting
2. Banks help in foreign trade by issuing: (2012 R)
a) Shipping order
b) Letter of credit

c) Bill of exchange
d) None of these
3. Wholesalers creates link between: (2012 R)
a) Retailer and consumer
c) Producers an consumers
b) Producer and retailers
d) None of these
4. It is a formal letter and does not show any personal relationship: (2012 R)
a) Demi-official letter
c) Official letter
b) Business letter
d) None of these
5. Paid occupation, especially one that requires advanced education and training is
knows as: (2012 R)
a) Marketing
c) Industry
b) Profession
d) Publicity
6. The life of sole proprietorship is: (2012 R)
a) Long
c) Definite
b) Uncertain
d) None of these
7. This partner invests capital but does not take active part in management: (2012 R)
a) Nominal partner
c) Sleeping partner
b) Active partner
d) None of these
8. Those, who form the company, are known as: (2012 R)
a) Partners
c) Experts
b) Promoters
d) Directors
9. Transportation creates: (2012 R)
a) Time utility
c) Possession utility
b) Place utility
d) Marginal utility
10.
Middleman who sell directly to consumer in small quantities are: (2012 R)
a) Wholesalers
c) Retailers
b) Producers
d) Exporters
11.
Public warehouses, licensed to aspect storage of imported goods before
payments of custom duties, are called(2012 R)
a) Private warehouses
c) Bonded warehouses
b) Public warehouses
d) None of these
12.
The minimum number of members, to form a private company is: (2012 R)
a) Seven
c) Two
b) Twenty
d) Fifty
13. The exporters gets the certificate of origin from the: (2012 R)
a) Chamber of commerce
c) Importing bank
b) Custom officials
d) Exporting bank
e) 14. net operating loss, competition and natural calamities are(2012 R)
f)
a)
insurable risks
h)
c)
inventory risk
g)
b)
un-insurable risk
i)
d)
credit risk
j) 15. capital, loans, bonds and retained earnings are the sources of: (2012 R)
a) Short term finance
c) Long term finance
b) Intermediate credit
d) None of thes
16. These letters are written to prospective customers introducing the company`s
goods and services: (2012 R)
a) Job letters
c) Sales letters
b) Order letters
d) Compliant letters

e) P.O.C 2012 regular

f) SECTION B

g) 2. (i)
h)
(ii)
i)
(iii)

R)
j)
k)
l)
m)
n)
o)
p)

(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)

define commerce and state scope(2012 R)

state the various types of partners (2012 R)
list the advantages and disadvantages of joint stock company(2012
differentiate between Advertising and Publicity (2012 R)
explain the various kinds of warehouses(2012 R)
state the services of retailer of consumers(2012 R)
define short term finance and list its sources? (2012 R)
what are circular letters? Why are they written? (2012 R)
what are the contents of Articles of association (2012 R)
define salesmanship and write the qualities of a good salesman.

(2012 R)

q) SECTION C
r) 3. describe the step by step procedure of importing goods from a foreign
country. List the documents used in this procedures. (2012 R)
s) 4. define middleman. How can they be classified in different kinds? (2012 R)
t) 5. write an application for the job of a sales Executive assume all necessary
particulars and detail. (2012 R)
u) ORdescribe the various parts of a business letter with the help of a sketch.

(2012 R)

v)P.O.C 2013 regular

w) MCQ`s
1. Trade account, hire purchase and overdraft are the sources of: . (2013 R)
a) Long term finance
c) Short term finance
b) Capital
d) Advertising
2. Capital roistered with the register of the company, is called: (2013 R)
a) Called up capital
c) Issued capital
b) Paid up capital
d) Authorized capital
3. Industry is the component of: (2013 R)
a) Trade
c) Advertising
b) Business
d) Marketing
4. Board of directors in a company is formed by: (2013 R)
a) Appointment
c) Nomination
b) Selection
d) Election
5. Those who sell in greater volume with low profit per unit, are called: (2013 R)
a) Retailer
c) Consumer
b) Wholesaler
d) Government
6. Certificate of origin is necessary for: (2013 R)
a) Importer
c) Banker
b) Exporter
d) Insurance co.
7. Presenting goods and services personally is: (2013 R)
a) Advertisement
c) Salesmanship
b) Publicity
d) Warehousing
8. Warehousing facilities: (2013 R)
a) Economic stability
c) Government stability
b) Price stability
d) Balance of payment

9. Circular letters are written to give same information to: (2013 R)

a) Foreign client
c) Information seeker
b) One person
d) Large number of clients
10. In publicity, the sponsor is: (2013 R)
a) Known
c) Popular
b) Unknown
d) Stranger
11. Owners of the company are: (2013 R)
a) Debenture holder
c) Partners
b) Shareholder
d) Promoters
12. Complete business secrecy is possible only in: (2013 R)
a) Joint stock company
c) Cooperative society
b) Partnership
d) Sole proprietorship
13. Warehouse is a place where we can safely keep: (2013 R)
a) Money
c) Goods
b) Birds
d) Services
14. Chamber of commerce provides its services to: (2013 R)
a) Doctors
c) Businessmen
b) Politicians
d) Bankers
15. The function of departmental store is: (2013 R)
a) Production
c) Retiling
b) Wholesaling
d) Warehousing
16. The memorandum of association consists of: (2013 R)
a) 5 clauses
c) 4 clauses
b) 6 clauses
d) 2 clauses

e)

SECTION B

f) 2. (i) define business and industry. Write the names of various kinds of
industries(2013 R)
g) (ii)
describe the characteristics of joint stock company (2013 R)
h) (iii)
What are the sources of long term finance? (2013 R)
i) (iv)
state the services of wholesaler to the manufacturer(2013 R)
j) (v)
write about various means of transportation (2013 R)
k) (vi)
describe the various kind of warehouses(2013 R)
l) (vii)
describe different types of insurance(2013 R)
m) (viii) what are the different kinds of retailing (2013 R)
n) (ix)
describe the advantages of partnership form of business. (2013 R)

o)

SECTION C

p) 3. describe the procedure of export trade and list the documents used in this
procedure(2013 R)
q) 4. define company. Describe the procedure of incorporation of a joint stock
company(2013 R)
r) 5.
describe the various parts of a business letter and explain it by the help of
sketch(2013 R)
s)OR draft a circular letter to the prospective customer, to inform them about the
arrival of new modles of mobile phone sets. Assume necessary particulars and
details. (2013 R)
t)