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What do you understand by Social Responsiblity of business? How is it different from legal responsibility.

Write a note on any three types of itinerant trades.

The activity of buying and selling goods between people is known as ___.

Once a confirmed order and also a letter of credit have been received, the exporter approached his banker for ___.

Who is the best salesman in the company?

I. Rohit sold maximum number of air conditioners this summer.

II. The company made the highest profit this year.

Abid wanted to start a company with the name 'Green Diet' but this name was rejected by ROC. What is NOT a possible reason behind the rejection?

In which form of public sector enterprise private individuals can also become the shareholders?

Define wholesale trade. Explain the services of wholesaler to manufacturer.

A ___ is a type of bazaar that provides space for people who want to sell their products.

When should insurable interest be present for life insurance?

Why is it said that licensing is an easier way to expand globally?

How a clearing agent help the importer ?

What is included in invisible trade?

In a Hindu Undivided Family, whose liability is unlimited?

Define inventory or stock. Explain briefly the different kinds of inventory.

Which are the two kinds of innovation?

Which are the indirect challenges for small businesses that arise from global competition?

The different people are engaged in different types of activities in their day-to-day life. State these activities.

Mention any two sources of owner's funds or ownership capital/ long-term finance.

Q. You are a non-executive director of a public sector body, and a member of the organisation’s finance committee. The committee is currently discussing the tender process for the procurement of substantial capital improvements to the staff catering facility.

The director of finance has suggested that the normal tender route be waived in this instance and the project awarded on a single tender basis. This is because the organisation has recently tendered for the construction of a new boiler facility on the organisation’s main site. As the catering facility is in close proximity to this existing capital project, the finance committee has agreed that there are practical benefits in awarding the work to the same contractor, who has a good history of completing capital projects for the organisation. If the tender process is waived, it will mean that the improvements to the catering facility can be commenced as soon as the boiler project ends. It is likely this could result in cost savings to the catering project, because the contractor’s equipment will not have to be removed and the required workers can remain on site.

The director of finance has also suggested that it is possible to benchmark costs to ensure that the agreed contract price is in line with current market prices. Initial discussions have already taken place with the contractor, who has explained that substantial cost savings would be achieved if this project was awarded to them straight after the boiler project. They have also provisionally agreed to undertake the works. There are existing standing orders and standing financial instructions which require a formal tender process to be fulfilled for projects of this size

You are concerned that the organisation is openly ignoring the governance arrangements that are in place without providing a robust basis for doing so, and you believe that the director of finance should not recommend these proposals to the advisory board. Evaluate the key fundamental principles involved and possible course of action for you in this case.

_______ is that type of business unit which is carried out with the motive of earning profits

Which of the following is capable of doing maximum good to society?

Which one of the following is not amongst India's major trading partners?

$(7\times {10}^{-2})+(7\times {10}^3)$ in usual form is given by ___.

Mention two features of itinerant retailers.

Eutrophication is low concentration of dissolved oxygen in water due to

As compared to Equity shareholders, _______________________ don’t have voting rights.

dummy - A government company is any company in which the paid up capital held by the government is not less than

The importer order should be carefully drafted so as to avoid any ambiguity and a consequent conflict between

Is it necessary for a public company to get its share listed on a stock exchange? What happens if a public company going for a public issue fails to apply to a stock exchange for permission to deal in its securities or fails to get such permission ?

Explain the difference between Memorandum of Association and Articles of Association on any five bases.

A company can not receive large amounts of ___ resources.

What does 'certificate from the bank' mean?

What is meant by 'Partner by estopple'? Explain

Vehicles emit a major air pollutant i.e:

Apple plans to manufacture the next version of iPhone. Before going ahead, it decides to study the market preferences. Name this step taken by Apple.

Which of the following statements is correct?

1. 'I am Wall's' has provided entrepreneurship opportunities to 9,000 people across India.

2. This programme has helped vendors to become self-sufficient micro-entrepreneurs selling frozen desserts and ice creams on the move.

Read the following passage and answer the (four) items that follow:

A few weeks ago, a newspaper article quoted a well-known scientist saying, "IT has destroyed Indian science?' One can speculate about the various ways in which the growth of the IT sector and other similar knowledge industries such as biotechnology has lead to a decline in basic scientific research in India.

The most obvious reason is money; pay scales in IT and BT are much higher than one can aspire to in academia. The argument goes: why should a bright B.Tech. or M.Sc. student enroll in a PhD program when he/she can make a lot more money writing code? Not only does a fresh IT employee make a lot more than a fresh M.Tech student, his/her pay will rise much faster in IT than in academia. A professor's pay at a government-run university, even after the sixth pay commission, tops out at far less than a senior executive's salary in a major industry.

Second, the social status of IT and BT jobs equal or even exceed the social status of corresponding academic positions, since they are seen as knowledge industries, which plays to the best and worst instincts of the societal order. As quintessential white collar profession, neither do they compel a successful entrepreneur to resort to violence and corruption, nor do they demand any physical labor. Unlike real-estate or road construction, it is felt that IT, workers can become rich while staying honest and sweat free. Assuming that the labor pool for academia and IT is roughly the same, difference in our collective preferences biases the labor market toward IT and away from academia. Further, when the imbalance between IT and academia continues for years and even decades, a destructive loop, from academia's point of view, is created. When our best and brightest take IT jobs over academic ones for a decade or more, faculty positions in our universities and research centers are no longer filled by the best candidates. As faculty quality goes down, so does the capacity to train top-class graduate students who, after all, are teachers in training. In response to decreasing faculty quality, even those students who are foreign trained graduates prefer to come back to corporate India, if at all they do come back, and the downward cycle replicates itself in each generation. In other words, academia is trapped within a perfect storm created by a combination of social and economic factors.

In this socio-economic calculus, the members of our societal classes should prefer an IT job to an academic one. Or, to put it another way, the knowledge economy, i.e., the creation of knowledge for profit, trumps the knowledge society, i.e., the creation of knowledge of its own sake or the sake of the greater good. As is said, "knowledge is power, but money is even more power?' Perhaps the scientist was alluding to this victory of capitalism over the pursuit of pure knowledge when he accused IT of having a negative influence of Indian science.

Surely, knowledge has become a commodity like any other and as a result, knowledge workers are like any other laborers, who will sell their' wares to the highest bidder. One solution is to accept and even encourage the commoditization of knowledge; if so, Indian universities and research centers should copy their western counterparts by becoming more and more like corporations. These centers of learning should convert themselves into engines of growth. In this logic, if we increase academic salaries and research grants to match IT pay cheques we will attract good people into academia, where, in any case, it is rumored that a certain elusive feeling called "the quality of life" is better.

Q5. What is the reason for the article to state that IT has destroyed Indian science?

For which of the following types of business do you think a sole proprietorship form of organisation would be more suitable and why?

(a) Grocery store

(b) Medical store

(c) Legal consultancy

(d) Craft centre

(e) Internet cafe

(f) Chartered accountancy firm

Q7. Consider the following statements about H1B Visa:

1. The H-1B allows U.S. employers to employ domestic workers.

2. It applies for speciality occupations.

Which of the statements are correct?

When Donald Trump became the president of the United States, as a part of his immigration policy, he placed restrictions on the issue of H-1B visas which allows US employers to employ foreign workers in speciality occupations. This policy has affected many Indian IT firms like Infosys and Wipro that are located in the US because they hire many immigrants from India for cheap and skilled labour.

What characteristic trait of international business is highlighted here?

What do you understand by sole proprietorship firm? Explain its demerits.

An error involving excess debit in account is rectified by corresponding ___ By the amount that is in excess.

Mr. Gopal has outsourced the following activities for his company. The sanitation staff for maintaining neatness, cleanliness and overall housekeeping of their premises. What kind of agreement has he taken?

A Pan Masala seller put up a stall outside a school where a large number of school kids started buying pan masala. He did not mention even the tobacco contents on the packet, what values are ignored here?

With reference to the (EBRD) European bank for Reconstruction and Development, select the correct statements.
1. It is a Hague- based multilateral lender.
2. India has got the go-ahead to join the European Bank of Reconstruction and Development (EBRD).
Select the correct answer using the codes given:

State the limitations of retained earnings.