Introduction to Business Notes for B.com-I / ADP / ADC / BS ( Commerce ) / BBA

Introduction to Business (ITB) Notes for B.Com Part 1 / B.Com (Part-I) / B.Com (Hons) / ADP / ADC / BS (Accounting and Finance) / BBA / BS (Commerce) / BS (IT). Students of B.Com Part 1 / B.Com (Part-I) / B.Com (Hons) / ADP / ADC / BS (Accounting and Finance) / BBA / BS (Commerce) / BS (IT) Level of any University recognized by Higher Education Commission (HEC), Islamabad belonging to any province i.e. Punjab, Sindh, KPK, Balochistan and Azad Kashmir and can get benefit from these notes. By studying our notes, we can guarantee you for getting maximum marks in your exams.

ITB Notes for B.Com Part-I / ADP / ADC / BBA / BS (Commerce, Accounting, IT and Finance)

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Introduction to Business (ITB) Old / Past Annual and Supplementary Question Papers

Punjab University Past Question Papers of ITB

Annual 

1. 2014
2. 2015
3. 2016
4. 2017
5. 2018
6. 2019
7. 2020
8. 2021
9. 2022

Supplementary 

1. 2014
2. 2015
3. 2016
4. 2017
5. 2018
6. 2019
7. 2020

Chapter Wise Long and Short Questions Notes with Solved Multiple Choice Questions (Mcqs)

Chapter # 01 – Concept / Introduction of Business

1. Definition and Characteristics or Features of Business
2. Objectives or Functions of Business
3. Qualities of Good Businessman (Personal and Professional)
4. Elements / Steps / Methods / Procedure for Establishing or Starting a New Business
5. Importance / Role / Advantages of Business
6. Responsibilities of Business 
7. Important Short Questions
8. Important MCQ’s 

Chapter # 02 – Nature and Scope of Commerce 

1. Branches / Scope / Division / Components of Business
   • Industry and Its Types
   • Commerce 
     • Functions of Commerce 
     • Scope of Commerce
       • Trade and Its Types 
       • Auxiliaries / Aids to Trade / Services to Trade
   • Direct Services 
2. Importance / Advantages of Commerce 
3. Difference Among between Commerce, Trade and Industry 
4. Important Short Questions
5. Important MCQ’s 

Chapter # 03 – Sole Tradership / Proprietorship / Sole Trader / Individual Entrepreneurship

1. Brief Introduction / History of Sole Tradership
2. Definitions of Sole Tradership
3. Characteristics or Features of Sole Tradership
4. Advantages or Merits of Sole Tradership
5. Disadvantages or Demerits of  Sole Tradership
6. Importance of Sole Tradership 
7. One Man Control is Best
   • Best Control
   • Bad Control
8. Steps for Expansion or Growth of Sole Tradership
9. Suggestions to Improve Sole Tradership
10. Short Questions with Answer
11. Multiple Choice Questions with Answer

Chapter # 04 – Partnership 

1. Introduction and Definition of Partnership 
2. Characteristics or Features of Partnership 
3. Advantages or Merits of Partnership 
4. Disadvantages or Demerits of Partnership 
5. Essential Requirements / Qualities  / Elements  / Requisites of Successful of an Ideal Partnership 
6. Partnership Deed
   • Introduction and Definition
   • Contents or Clauses of Partnership Deed
   • Rules Applicable in the Absence of Partnership Agreement or Deed
7. Kinds of Partnership
   • Under Partnership Act 1932
   • Under Islamic Laws 
   • Difference /Distinctive / Distinguish  between General Partnership and Limited Partnership 
8. Kinds or Types of Partners 
9. Registration of Firm
   • Definition, Meaning and Procedures / Process / Way of Registration of Firm
   • Advantages or Importance of Registration of Firm 
   • Consequences or Disadvantages of Registration of Firm
10. Rights, Duties and Liabilities of Partners
    • Rights of Partners
    • Duties of Partners
    • Liabilities of Partners 
11. Co-Ownership
    • Meaning and Rules of Co-ownership
    • Kinds or Types of Co-ownership
    • Difference between Co-Ownership and Partnership
12. Position of Minor in Partnership under partnership Act 1932
13. Ways or Modes of Dissolution of Partnership or Firm 
14. Short Questions 
15. Multiple Choice Questions – MCQs

Chapter # 05 – Joint Stock Company ( JSC )

Joint Stock Company – I

1. Introduction and Evolution of Joint Stock Company
2. Definition and Meaning of Joint Stock Company
3. Characteristics or Features of Joint Stock Company
4. Advantages or Merits or Benefits of Joint Stock Company
5. Disadvantages or Demerits of Joint Stock Company
6. Comparison Among Soletradership, Partnership and Joint Stock Company
7. Short Answers of Questions
8. Multiple Choice Questions (MCQs)

Joint Stock Company – II

1. Types or Kinds of Joint Stock Company or Company
2. Distinguish / Difference between or Comparison of Public Company and Private Company

Important Questions for Annual and Supplementary Exam

• Guess Paper of Introduction To Business Annual Exam 2021 for Punjab University
• Guess Paper of Introduction To Business Annual Exam 2021 for Gujrat University