*XI Principal of Commerce* *Section B – Short Answer Questions* 1. Explain auxiliary to trade? Or what are the factors to be considered in starting a new business? 2. Define commerce and state its scope? Or describe the characteristics of a joint stock company? 3. Why is sole proprietorship form of business organization most common in Pakistan? Or define short term finance and list its sources? 4. Write down the advantages of warehousing? Or list the clauses of memorandum of association. Describe what the name clause is? 5. State the services of wholesalers to retailers? Or differentiate between foreign and domestic trade? 6. Write down the characteristics of a good business letter? Or write any five advantages of a partnership firm? 7. Write the difference between private and public company? Or list the functions of chamber of commerce. Explain any three of them? 8. Write the difference between advertising and publicity? Or list the labour saving devices used in modern offices and explain any one? 9. Describe different types of insurance? Or what are the various means of transportation in Pakistan? *Section C – Detailed Answer Questions* 1. Draft an application for the post of an assistant accountant with resume. Assume necessary details. OR Explain the parts of a business letter with sketch? 2. Define market and describe their functions? OR Explain the procedure of export trade? 3. Define joint stock company. Describe the procedure of incorporation of a joint stock company? OR Define the term filing and explain the classification of filing system?