Important Long Questions for Principles Of Commerce (I.Com. part 1)

Following are some important long questions of principles of commerce which are expected to be asked in the exams:

• Define business. Write down objectives and functions of business.
• What factors of starting a new business are to be kept in  mind?
• Define commerce. Write down the scope of commerce.
• Write down the importance of commerce.
• Write down the qualities of a good businessman.
• Define sole trader-ship. Discuss characteristics, merits and demerits of sole trader-ship.
• Give suggestions to improve the business of sole trader-ship.
• Define partnership. Discuss characteristics, merits and demerits of partnership.
• Define partnership deed. Explain the important contents of partnership deed.
• Explain registration of partnership.
• Explain features of limited partnership.
• Write a note on different kinds of partners.
• Explain the rules applicable in the absence of partnership deed.
• What is meant by dissolution of partnership? Explain modes of dissolution of partnership.
• Define joint stock company. Discuss characteristics, merits and demerits of joint stock company.Explain various kinds of company.
• How a joint stock company can be formed? Explain in detail.
• Define insurance and state its importance.
• Discuss various methods of winding up the joint stock company.
• Differentiate between memorandum of association and articles of association.
• Differentiate between private and public limited company.
• Compare commerce, trade and industry.
• Explain types of filing system. Give characteristics and merits of filing system.
• Define cooperative society. Discuss types, characteristics, merits and demerits of cooperative society.
• Discuss kinds of cooperative society.
• Explain advantages of home trade.
• What are the problems faced by home trade?
• Define wholesaler. Write features, types and functions of wholesalers.
• Define retailer. Explain the features, services and types of retailers.
• Differentiate between wholesaler and retailer.
• differentiate between home trade and foreign trade.
• Define foreign trade. Write down procedure, advantages and difficulties in foreign trade.
• Define business letter. Write a note on parts and characteristics of a good business letter.
• What is meant by an office? Write properties of a good office.
• Describe the importance of business finance.
• Describe the various types of transport.