Short Answer Questions for Principle of Commerce I.Com Part 1

Short Answer Questions for Principle of Commerce I.Com Part 1

Define business
What is industry?
Describe only four points of the advantages of sole-proprietorship.
Define Joint Stock Company
What is meant by limited partnership?
Define Private Limited Company
What do you mean by debentures?
What is meant by “Issuance of shares at premium?”
What do you mean by issued capital?
Define co-operative society
Write any four features of co-operative Society
What is meant by wholesaler?
Define retailer
What is meant by commission agent?
What is meant by quotation?
Define advertisement
Define salesmanship
What is meant by letter of credit?
Define insurance and write the name of its kinds
Define import and export trade
Define filing system
Write the three advantages of computer
Write any six parts of a business letter
Define the horizontal filing system
Write the four advantages of insurance
Write the three features of business letter
What is meant by nominal partner?
Define preference shares of company
What is meant by capital reserve of company?
What is meant by partnership deed?
Define ordinary shares of company
Define international trade
Define a co-operative society
Define mudarba
Define commerce
What is meant by pro-forma invoice?
List down the channels of distribution
State the importance of an official letter
What is meant by quotation letter?
List down the four sources of medium term finance
Define posting machine
What is meant by life insurance?
Define cash register
What is meant by economic activities?
Define article of association
Define the certificate of origin
What is meant by minor partner?
Shortly explain the importance for means of transportation
Define statutory report of company
Define bill of entry
What is meant by body in a business letter?
Define Indexing
Explain the two main objectives of a cooperative society
Explain the two types of middlemen
What is meant by traveling agent?
What is meant by term F.O.B.?
Write four features of good salesman
What is meant by bill of exchange?
What is meant by profession?
Define partnership
Define debenture holders
What is meant by certificate of incorporation?
What is meant by share issued at premium?
Define modaraba
Write down four disadvantages of partnership.
What is meant by subscribed capital?
Who is broker?
What is meant by warehouse?
Write down two advantages of fire insurance
Write down kinds of letters
What is meant by official letter?
Define senior partner
Write four elements points of partnership deed
Define Whole seller
Write four functions of the retailer
Define long term finance
What is an inquiry letter?
What is meant by productive activities?
Define the reserve capital of company
Define office
Write down the merits of advertisement
Define trader
Define primary industry
What is retail trade?
What is registered company?
What is meant by special resolution?
Define short term finance
Define credit note
Define order letter
Define chamber of commerce and Industry
What is meant by circular letter?
What is meant by charter party?
What is meant by secondary industry?
Define private limited company
Define sleeping partner
Why the life of sole trader ship is limited
What is meant by prospectus?
What is meant by memorandum of association?
What is meant by directors of the company?
What is meant by a departmental store?
What is meant by chain store?
What is meant by bill of sight?
Define clearing agent
Write down any four characteristics of an official letter
Define dissolution of partnership
Define share
Define debenture holder
What is meant by the channels of distribution?
Give a brief explanation of musharakah
State the merits of water transport
What is meant by bonded warehouses?
State any four qualities of business letter
What is meant by endorsement?
What steps are involved in commencing a business?
What is meant by unlimited liability?
Define partnership at will
Define meeting and write down its types
What is ex-ship price?
Define business finance
What is meant by business correspondence?


  1. Can you send me in gmail account because I will print all questions

  2. I am going to study commerce ,i just pass my matric with science and i found commerce very confusing.

  3. ALHAMDULILAH a very best site for question n answers

  4. i still dont receive any pdf

  5. kindly send me pdf ..for printout

  6. yes

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