These Guess Papers are Prepared on the Basis of Five Year Solved Papers of B.Com Part 1, These are the Most Important Questions of Introduction to Business . According to Punjab University PU Syllabus, Introduction to Business Paper Consists of Total Eight Questions , Students have to Attempt Five Questions.
According to Updated Punjab University Syllabus
Eight Selected Most Important Questions
Prepared From Analysis of Past Papers of Past Five Years including 2013 ,2014
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Easy to Pass the B.Com Part 1 Papers 2015
Introduction To Business Guess Paper Solved Question No.1
Business Activities referred to the sale and purchase of goods and services or of manufacturing, production or construction of specific items. Business is an economic activity, which involves the distribution and production of goods, the purpose is business is to earn profits
Objectives of Business may be social and economical. The economic objective is to earn maximum profits from its limited sources, social objective focuses more on the well being of the society
The importance of business includes improvement in standard of living, proper utilization of limited resources, appropriate quality and greater variety of goods.
Basically there are two kinds of industries , primary and secondary. Primary industries usually involves the extraction and genetic activities, While secondary industry includes construction and manufacturing.
Commerce is the phenomenon through which the goods are delivered to the ultimate consumer.
Trade is classified into home or internal trade and foreign or external trade., Home trade further divides into wholesale or retail trade, External trade includes Imports and exports.
Introduction To Business Guess Paper 2015 Solved Question No.2
Sole proprietorship is a business controlled and run by single owner, Despite its advantages there are some disadvantages too. Proprietorship is easy to form, eligibility of tax benefits, ability to hire own employees, independent decision making without consultation of any other person.
Demerits of sole proprietorship includes, sole liability of the owner, owner have to pay self employment taxes, Lack of continuity of business, if for some reasons , the sole owner becomes incompetent to operate the business activities.
Introduction To Business Guess Paper 2015 Solved Question No.3
When two or more persons mutually operates a business, it is known as partnership business, Main contents of partnership deed includes, name of the firm its registered address, Name and address of partners, nature of firm's business, duration of partnership, partner's capitals, interest on capital, drawing and interest thereon, the ratio in which profit is divisible.
Introduction To Business Guess Paper 2015 Solved Question No.4
Main documents for incorporation of joint stock company are memorandum of association, articles of association and prospectus. Memorandum of association contains specific clauses including name clause, situation clause, object clause, functional clause, capital clause, liability clause, association and subscription clause and agreement clause.
Articles of association contains specific information such as, no. of directors, provision of alternate directors, power and duties of board of directors authorities of directors, delegation of authority, directors and auditors meetings, company's shares.
Introduction To Business Guess Paper 2015 Solved Question No.5
There are basically four types of business combinations, Horizontal, vertical, diagonal and circular.
When various departments are combines in a large business organisation, then it is termed as vertical Business combination. Main objective is to lower the per unit production cost and to avoid excessive production.
Horizontal Combination is formed where two similar business entities are joined under one common management so as to increase their production efficiency. one specific advantage is to achieve benefit of large scale production and to reduce middleman commission.
Circular or Mixed Business Combination, Diagonal Combination
Introduction To Business Guess Paper 2015 Solved Question No.6
The main functions of stock exchange are as follows, Raising capital for business, Investments of your savings for the purpose of purchase of securities, boosting economic growth, redistribution of economic wealth, management record of the company, creating investment options for small scale investors
Introduction To Business Guess Paper 2015 Solved Question No.7
Main types of co operative societies includes, Producer and consumer cooperative societies.