Commerce Related Quiz Questions And Answers

20 Questions | By Hamadahmed | Updated: Aug 22, 2022 | Attempts: 8191

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Are you ready to attempt these commerce-related quiz questions and answers? Let us give you a brief introduction to commerce; it is the exchange of goods as well as services, especially it's considered on a large scale. This commerce-related quiz has all the questions that will improve your commerce skills, and you will learn more. We wish you all the best, and we hope you will enjoy this quiz. Let's go for it!

Questions and Answers

1.

The simple interest on a $ 100 loan at 10% simple interest for 5 years is
- A.
  
  50
- B.
  
  80
- C.
  
  100
- D.
  
  None
2.

The compound interest on a $ 5,000 loan at 8% compounded semi-annually for 10 years is
- A.
  
  500
- B.
  
  800
- C.
  
  1000
- D.
  
  None
3.

Which bank was formed under the royal order?
- A.
  
  Bank of Venice
- B.
  
  State Bank of Pakistan
- C.
  
  Bank of Barcelona
- D.
  
  Chartered Bank of England
4.

The fundamental economic problem faced by all societies is
- A.
  
  Unemployment
- B.
  
  Inequality
- C.
  
  Poverty
- D.
  
  Scarcity
5.

Money creative bank is:
- A.
  
  Central Bank
- B.
  
  Commercial Bank
- C.
  
  Consumer Bank
- D.
  
  Both A & B
6.

The word “Bank” has been derived from the word________________.
- A.
  
  Back
- B.
  
  Bancus
- C.
  
  Banco
- D.
  
  None of the above
7.

The commercial bank creates the following money:
- A.
  
  Metallic
- B.
  
  Paper
- C.
  
  Credit
- D.
  
  All the above
8.

The part of deposits kept with the central bank is called:
- A.
  
  Cash reserve
- B.
  
  Margin
- C.
  
  Interest rate
- D.
  
  All the above
9.

Capitalism" refers to:
- A.
  
  the use of markets
- B.
  
  Government ownership of capital goods
- C.
  
  private ownership of capital goods
- D.
  
  private ownership of homes & cars
10.

If the Mean is 48, the Median is 47. Mode will be
- A.
  
  44
- B.
  
  50
- C.
  
  45
- D.
  
  49
11.

State Bank of Pakistan was formed by _____________
- A.
  
  Royal Charter
- B.
  
  Special Ordinance
- C.
  
  Joint Stock Companies Act
- D.
  
  Banking Companies Ordinance Act
12.

The best form of a partnership deed is
- A.
  
  oral
- B.
  
  Written
- C.
  
  Written & registered
- D.
  
  . registered
13.

The shareholders of J.S.C are
- A.
  
  debtors
- B.
  
  creditors
- C.
  
  owners
- D.
  
  Outsiders
14.

There are three fundamental questions every society must answer. Which of the following is/are one of these questions?
- A.
  
  What goods and services are to be produced?
- B.
  
  How are the goods and services produced?
- C.
  
  Who will get the goods and services that are produced?
- D.
  
  All of the above
15.

A cooperative society is registered under the cooperative society act:
- A.
  
  1984
- B.
  
  1925
- C.
  
  1980
- D.
  
  1870
16.

In a week, the prices of a bag of rice were 350, 280, 340, 290, 320, 310, and 300. The range is
- A.
  
  70
- B.
  
  80
- C.
  
  100
- D.
  
  None
17.

Advertisement means
- A.
  
  Attracting the customers towards the product
- B.
  
  To sell goods on credit.
- C.
  
  to attract the wholesaler
- D.
  
  To attract the retailer
18.

The conditional letter of credit is also known as
- A.
  
  Open l/C
- B.
  
  revocable L/C
- C.
  
  irrevocable L/C
- D.
  
  Documentary L/C
19.

The arrears of shares that are payable and considered a liability of the company are called_________ shares.
- A.
  
  Ordinary
- B.
  
  Cumulative preference
- C.
  
  Deferrer
- D.
  
  Noncumulative
20.

Which of the following documents is necessary for a private company to start its business?
- A.
  
  Certificate of incorporation
- B.
  
  Certificate of commencement business
- C.
  
  Both A & B
- D.
  
  None of these