(a) Two qualities of a salesman: 

1. Cheerful: Pleasing manners and a smiling face are necessary for a successful salesman. He should be polite and courteous. 

2. Sensitive: A good salesman should be sensitive to the needs and expectations of customers. He is a good listener and has patience. 

3. Knowledgeable: A good salesman should have adequate and up-to-date knowledge about his firm, product, market, competitors and customers. (any two) 

(b) Open Market Operations: The open market operations mean the sale and purchase of securities by the central bank in the open market. When the central bank wants to reduce the volume of credit, it sells securities in the market. Similarly, when the central bank wants to expand credit, it buys securities in the open market. This increases the money supply in the banking system. 

(c) Interviews are essential part of the selection procedure because employer can judge the candidate’s suitability for a job by assessing his/her facial expression, postures, gestures and speaking skills. Interviews are also beneficial !to the candidate as he/she gets the opportunity to know about the job and the organisation. 

(d) Indirect labour cost is the wages paid to the labour which indirectly helps in the production process, which cannot be wholly and directly identified with a particular product. Example: Wages paid to storekeeper, foreman, timekeeper, inspectors. 

(e) Features of Balance Sheet: 

1. A Balance Sheet is always prepared on a particular date. 

2. It is prepared after the preparation of Income and Expenditure account. 

3. It is not an account but a statement. 

4. It shows the financial position on a specified date. 

5. Assets are shown on the right hand side and liabilities are shown on the left hand side. 

6. It contains personal and real accounts and the net result of nominal account. (any two)