MCQ Bank

Economic activities can result in production, creation of utility, and generation of revenue. Therefore, all the listed options are outcomes of economic activity.

BNK611 Final Term AI Solved

Q95

Following is the chief factor in determining the price of any asset.

A) Size and color
B) Time and location
C) Size only
D) Time only

AI Explanation

The value and price of an asset are significantly influenced by factors such as time and location. These factors affect demand, availability, and market conditions.

BNK611 Final Term AI Solved

Q96

In Shirkat-ul-Milk each partner is……………… with respect to other’s share.

A) Agent
B) Like Co-owner
C) Like Owner
D) Stranger

AI Explanation

In Shirkat-ul-Milk, each partner has ownership rights in the jointly owned property. Each partner is considered like a co-owner regarding the share of the other partner.

BNK611 Final Term AI Solved

Q97

The use of optional condition in a contract of sale is called………………..

A) Khiyaar-e-Ghaban
B) Khiyaar-e-Shart
C) Khiyaar-e-Roiyyat
D) Khiyaar-e-Aib

AI Explanation

Khiyaar-e-Shart refers to an optional condition in a sale contract that allows a party to retain the option to accept or cancel the transaction within a specified period.

BNK611 Final Term AI Solved

Q98

In economic cycle which starts with earning and acquisition of wealth, ------------- is perhaps the last and very important stage

A) Flow
B) Management
C) Consumption
D) Distribution

AI Explanation

The economic cycle begins with earning and acquiring wealth, and distribution is considered one of its final and important stages. It determines how wealth is allocated within society.

BNK611 Final Term AI Solved

Q99

A Wasia made for…………….is not valid in Shariah.

A) All of the given options
B) Son
C) Wife
D) Daughter

AI Explanation

A Wasia (bequest) made in favour of an heir such as a son, wife, or daughter is generally not valid under Shariah inheritance rules without specific conditions. Therefore, all given options are considered invalid cases.

BNK611 Final Term AI Solved

Q100

----------------------is received by the capitalist who continues to use his wealth to earn more wealth just by providing money to others.

A) Interest
B) Profit
C) Fee
D) Commission

AI Explanation

Interest is the return received by a capitalist who provides money and earns a fixed return without directly participating in business activity. In Islamic finance, such earnings are considered Riba and are prohibited.

BNK611 Final Term AI Solved

Q101

Under which condition a Musharakah is terminated?

A) When one or more partners are stopped from the exercise of their legal right over their share
B) All of the given options
C) The government bans the business
D) The business is stopped by a decree of the court or by a judicial process

AI Explanation

A Musharakah can be terminated if partners lose the ability to exercise their rights, if the government bans the business, or if a court orders its termination. Therefore, all the given options are valid conditions.

BT101 Final Term Unsolved

The widespread use of insecticides has led to the rapid evolution of resistance in more than ________pest species.

A) 50
B) 5000
C) 500
D) 50,000