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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 901. |
What is IGST ?explain in brief |
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Answer» Thnxx to all Integrated goods and services tax (IGST) would mean the tax levied under\xa0IGST\xa0Act on the supply of any goods and / or services in the course of inter-state trade or commerce. Integrated\xa0GST\xa0shall also apply to import of goods and services into India. IGST means Integrated Goods and Service Tax. IGST is a tax levied on all\xa0Inter-State sale or exchange of goods and/or services. IGST come in use when we purchase or sale with other states IGST\xa0is levied on inter-state supply (i.e., supply outside the state) of goods and/or services, import of goods and/or services into India and export of goods and/or services from India |
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| 902. |
Why the economics activity not undercast the non economic activity |
| Answer» A n s w e r. Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain. | |
| 903. |
Dicuss the benefits and disadvantages of WTO for India. |
| Answer» Disadvantages of WTO\tHowever, the WTO has often been criticised for trade rules which are still unfavourable towards developing countries. Many developed countries went through a period of tariff protection; this enabled them to protect new, emerging domestic industries. Ha Joon Chang argues WTO trade rules are like \'pulling away the ladder they used themselves to climb up\' (Kicking away the ladder\xa0at Amazon)\tFree trade may prevent developing economies develop their\xa0infant industries. For example, if a developing economy was trying to diversify their economy to develop a new manufacturing industry, they may be unable to do it without some tariff protection.\tWTO is being overshadowed by new TIPP trade deals. These deals are negotiated away from WTO and focuses mainly on US and EU. It excludes China, Russia, India, Brazil and South Africa. It threatens to diminish the global importance of WTO\tDifficulty of making progress. WTO trade deals have been quite difficult to form consensus. Various rounds have taken many years to slowly progress. It results in countries seeking alternatives such as TIPP or local bilateral deals.\tWTO trade deals still encompass a lot of protectionism in areas like agriculture. Protectionist tariffs which primarily benefit richer nations, such as the EU and US.\tWTO has implemented strong defense of TRIPs ‘Trade Related Intellectual Property’ rights These allow firms to implement patents and copyrights. In areas, such as life-saving drugs, it has raised the price and made it less affordable for developing countries. | |
| 904. |
What are the objectives of WTO? Explain its functions. |
| Answer» Following are the objectives of WTO(i) To ensure reduction of tariffs and other trade harriers imposed hy different countries.(ii) To engage in such activities which improve the standards of living, create employment, increase income and effective demand and facilitate higher production and trade.(iii) Facilitate the optimum use of world’s resources.(iv) Promote an integrated more viable and durable trading system.Functions of WTO:Facilitate international trade\tIt facilitates international trade through the removal of tariff and non-tariff barriers.\tIt provides greater market access to all member countries.Formulation of rules\xa0\tIt establishes a rule-based trading regime, in which nations cannot place arbitrary restrictions on trade.Protecting the interest of developing countries\tIt frames fair global rules, regulations.\tIt safeguards and advocates the interests of the developing world. | |
| 905. |
Explain the nature and importance of special economic zones. |
| Answer» Three features of SEZ :1.\xa0It is a duty free enclose which is treated as foreign territory.2.\xa0Units of SEZ are exempted from routine examination of import and export by custom authorities.3.\xa0Sub-contracting of production is allowed. | |
| 906. |
Explain the nature and importance of export processing zones. |
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| 907. |
Mention the ways through which a exporter can secure from an importer. |
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| 908. |
Why is export promotion necessary? Explain the various incentives available to exporters in india. |
| Answer» The various incentives and schemes provided by India are as follows :1. Export Processing Zones : Export Processing Zones (EPZs) have been set up to provide an internationally competitive duty free environment for export production. Infrastructural facilities are created in the zones to manufacture the products at lower cost. Customs clearance and facilities needed for financial transactions are also provided inside the zones. Import licence is not needed for import of capital goods, raw materials etc. The units located in the zones are expempted from payment of excise duty on capital goods and raw materials bought from the domestic market. 50% produce has been permitted for domestic sale at concessional rate of duty. There are 8 EPZs in India.2. 100% Export Oriented Units : Export Oriented Units have been set up for the export of entire product expect those which are specially permitted to be sold in the domestic market. These units can be established any where in the country. They can avail of all benefits provided to the units in the EPZ.3. Special Economic Zones : Special Economic Zones (SEZ) has been created to encourage free trade. It is a specially delineated duty free enclave. It is deemed to be foreign territory for the purpose of trade operations and duties and tariffs. Goods going into the SEZ area from Domestic Tariff Area (DTA) are treated as deemed exports. Goods coming from the SEZ area into DTA are treated as imported goods.4. Export Houses, Trading Houses, Star Trading Houses and Super Star Trading Houses : Various categories of export houses have been recognized with a view to building marketing infrastructure and expertise required for export promotion. These houses are given national recognition so that they could make greater efforts for export promotion. They are required to operate as highly professional and dynamic institutions and act as an important instrument of export growth. The recognition is granted on the basis of the export performance of the firm.5. Export of Services : In order to boost the export of services, various categories of service houses have been recognised. These houses are recognised on the basis of the export performance of the service providers. They are named as Service Export House, International Service Export House, International Star Service Export House, International Super Star Service Export House based on their export performance.6. Export Promotion Capital Goods (EPCG) Scheme : The main objective of this scheme is to encourage the import of capital goods for export promotion. New capital goods including computer software systems may be imported under this scheme. Under this provision, the capital goods may be imported at 5% customs duty. The import is subject to an export obligation equivalent to 5 times CIF value of capital goods on FOB basis or 4 times the CIF value of capital goods on net foreign exchange basis. This obligation may be fulfilled over a period of 8 years from the date of issuance of license. | |
| 909. |
What is a Bill of lading? How does it differ from a character party? Is it a negotiable instrument? |
| Answer» Bill of lading is a document wherein the shipping company gives its official receipt of the goods put on board its vessel and at the same time gives the undertaking to carry them to the port of destination. It is also a document of title of the goods and as such is freely transferable by theendorsement and delivery.Bill of entry contains information such as name and address of the importer, name of the ship, number of packages, marks on the package, description of goods, quantity and value of goods, name and address of the exporter, port of destination and customs duty payable. | |
| 910. |
Explain the procedure for exporting goods from india. |
| Answer» Following steps are taken to export goods from one country to another :1. Receipt of enquiry and sending quotations.2. Receipt or order of indent.3. Assessing importer’s credit-worthiness.4. Obtaining export license.5. Obtaining pre-shipment finance.6. Production or procurement of goods.7. Pre-shipment inspection.8. Excise clearance.9. Obtaining certificate of origin.10. Reservation of shipping space.11. Packing and forwarding.\xa0 | |
| 911. |
Describe the procedure for importing dry fruits from afganistan. |
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| 912. |
Discuss the complexities involved in international business. |
| Answer» (a) Difference in languages and problem of distance : Each country has its own language in which its traders wish to prepare their trade documents right from trade enquiry or the letter of quotation to the payment documents. This works as a serious barrier between the traders of the different countries. Moreover, the distance between the trading countries increases the cost of transportation of goods, making the price high and also creating risk of fraud, etc. as the traders may not have face to face contact between them.(b) Import-export restrictions: At times many countries put certain restrictions on their foreign trade to make their B.O.P. (balance of payment) favourable. They impose heavy tariffs or import duties, volume restrictions on both of their imports as well as their exports. This hampers the smooth conduct of IT.© Lack of proper information about foreign market: In most of the cases new traders do not have adequate information about foreign markets what ever information is provided by different agencies are either unadequate or does not fulfil their requirements. Thus, they fail to have clarity about the opportunities available to them for exports and imports.(d) Heavy documentation : IT requires so many legal formalities and many documents, which makes the trade procedure very cumbersome as well as complex. That’s why most of the small traders trade only through third parties rather than going directly and have to pay commissions to them which reduces their profit margins, increases the cost of transactions.(e) Payment problems : IT, traders of an importingcountry wish to make payment in their own currency and the traders of exporting country want payments in their legal tender. In both the situations there may come the problem of foreign exchange. The fluctuations in the exchange rates may create problems and risk to the traders of both the countries. | |
| 913. |
Distinguish between wholesaler and retailer. |
| Answer» \tWholesaleRetailDefinitionSale of goods in bulk but cheaper ratesSale of goods to the end-users in higher rates and limited quantityCostLessHighBusiness sizeLargeSmallCapitalHigherLessBusiness outreachSpread across the state, different stateLimited spaceArt of sellingNot requiredRequiredPromotionNot requiredIt is importantAttractive display to goodDoesn’t matterIt is required to attract the customers\t | |
| 914. |
Why departmental store is not famous in india |
| Answer» Below are the reasons given for non popularity of departmental stores in Inida:1.\xa0High cost:One of the major disadvantages of such stores is that the cost of doing business is very high. Due to excessive departmentalisation and additional facilities offered, cost of such business remains high. In order to cover such costs, goods are generally sold at a high price. As a result, only rich customers who care for quality and services take the advantages of departmental stores.2.\xa0Local inconvenience:Since departmental stores are situated at central shopping areas, people living at distant places can not avail the services of such stores. For buying daily use goods and frequently purchased items, such stores are of little use since the customer cannot go to a long distance to purchase daily use items. Rather, customers prefer purchases from nearby shops.3.\xa0Higher rent for premises:As departmental stores are located at central shopping areas, the rents of such premises are usually very high. This also adds to the overhead expenses.4.\xa0Lack of personal touch in selling:In departmental stores, there is always absence of personal touch in selling because of hired salesmen, managers and supervisors. These hired personnel with different likings and temperaments cannot provide personal attention to the customers. On the other hand, a small retailer can pay personal attention to the needs of the customers.5.\xa0Lack of proper supervision:There is always a lack of proper supervision in the departmental store operations because of the expenses of the business. Management has to depend upon managers and supervisors who may lack interest in the business.6.\xa0Large capital:Departmental store requires large amount of capital for establishment and operation. In fact, a departmental store cannot be started with small capital. | |
| 915. |
What is departmental store? Discuss it\'s merits and demirts. Why is it v not popular in india? |
| Answer» \xa0Advantages are as follows :1. Attract large number of customers :As these stores are usually located at central places, they attract large number of customers during the best part of the day.2.\xa0Convenience of buying : By offering large variety of goods under one roof, the department stores provide great convenience to customers in buying almost all goods of their requirements at one place. As a result, they do not have to run from one place to the other, to complete their shopping.3.\xa0Attractive services : A department store aims at providing maximum services to the customers. Some of the services offered by it include home delivery of goods, execution of telephone order, grant of credit facilities and provision for rest-room, etc.4.\xa0Economy of large-scale operations : As they stores are organized on a very large scale, the benefits of large-scale operations, particularly, in respect of purchase of goods, are available to them.5.\xa0Promotion of sales : The department stores are in a position to spend considerable amount of money on advertising and other promotional activities, which help in boosting their sales.Limitations :1.\xa0Lack of personal attention : Because of the large-scale operations, it is very difficult to provide adequate personal attention to the customers in a departmental store.2. High operating cost : As the departmental stores give more emphasis on providing services, their operating costs tend to be on the higher side. These costs, in turn, make the prices of the goods high. They are, therefore, not attractive to the lower-income group of people.3.\xa0High possibility of loss : As a result of high operating costs and large-scale operations, the chances of incurring losses in a departmental store are high. For example, if there is any change in the tastes of customers or latest fashions, it necessitates selling of such out-of-fashion articles in clearance sale, to reduce the huge inventory of goods built up.4.\xa0Inconvenient location : As a department store is generally situated at a central location, it is not convenient for the purchase of goods that are needed at short notice.\xa0 | |
| 916. |
Explain the organisation and working of a departmental store. |
| Answer» A departmental store is a large establishment offering a wide variety of products, classified into well-defined departments, aimed at satisfying practically every customer’s need under one roof. It has a number of departments, each one confining its activities to one kind of product, e.g., there may be separate departments for toiletries, medicines, furniture, groceries, electronics, clothing and dress material. Thus, they satisfy diverse market segments with a wide variety of goods and services.Some of the important features of a departmental store are as follows(i) A modem departmental store may provide all facilities such as restaurant, restrooms, etc. In this way they try to provide maximum service to higher class of customers for whom price is of secondary importance.(ii) These stores are generally located at a central place in the city, which caters to a large number of customers.(iii) They are generally formed as a joint stock company managed by a board of directors as the sizeof these stores is very large.(iv) A departmental store combines both the functions of retailing as well as warehousing. They purchase directly from manufacturers and operate separate warehouses thereby eliminating undesirable middlemen between the producers and the customers.Chain stores or multiple shops are networks of retail shops that are owned and operated by manufacturers or intermediaries. Under this type of arrangement, a number of shops with similar appearance are established in localities, spread over different parts of the country in contrast to departmental stores which are established at a central place in the city. These different types of shops normally deal in standardized and branded consumer products, which have rapid sales . turnover. These shops are run by the same organisation and have identical merchandising strategies, with identical products and displays. | |
| 917. |
Explain the services rendered by the retailers to consumers |
| Answer» Retailer renders following services to the wholesalers(i) Help in Distribution of Goods Wholesalers provide help in the distribution of goods and making them available to final consumers.(ii) Personal Selling In this the retailers relieve the producers of this activity and help them in actualising the sale of the products.(iii) Enabling Large Scale Operations It enables them to operate at large scale and fully concentrate on activities.(iv) Collecting Market Information Retailers remain in touch with the buyers they know about the tastes, attitudes, preference, etc. Such information is very useful in taking marketing decisions in an organisation.Some of the important services of retailers from the point of view of consumers are as follows(i) Regular Availability of Products In order to buy products as and when needed retailer maintains the regular availability of the product.(ii) New Products Information By arranging effective display of products and personal selling retailers, provide important information about their products.(iii) Convenience in Buying Retailers are situated very near to the residential areas and remain open for long hours which enables customer to buy products of their requirement.(iv) After Sales Service Retailers provide after sales services to the customers in the form ofhome delivery, supply of spare parts, etc. | |
| 918. |
Explain goods and services tax. Also discuss it\'s main features. |
| Answer» GST\xa0stands for "Goods and Services Tax", and is proposed to be a comprehensive indirect\xa0tax\xa0levy on the manufacture, sale and consumption of\xa0goods\xa0as well as\xa0services\xa0at the national level. It will replace all indirect\xa0taxes\xa0levied on\xa0goods and services\xa0by the Indian Central and State governments.\xa0The\xa0Goods and Services Tax, or\xa0GST\xa0is a major indirect\xa0tax\xa0reform introduced in India by integrating the major indirect\xa0taxes\xa0of the centre and states.\xa0It\xa0is a comprehensive\xa0tax\xa0levied on the manufacture, sale, and consumption of\xa0goods and services. The\xa0GST\xa0is a destination based consumption\xa0tax\xa0made on value addition. | |
| 919. |
Describe various terms of trade. |
| Answer» The\xa0terms of trade\xa0(TOT) is the relative price of exports in\xa0terms\xa0of imports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.\xa0Terms of trade\xa0(TOT) is a measure of how much imports an economy can get for a unit of exported goods. • Since, economies typically export and import many goods, measuring the TOT requires defining price indices for exported and imported goods and comparing the two. | |
| 920. |
Explain the main documents used in internal trade. |
| Answer» Main Documents Used In Internal TradeThe following are the main documents used in the Internal trade.1. Invoice – In case of credit purchases, a statement is supplied by the seller of goods in which he gives particulars of goods purchased by buyer such as quantity, quality, rate, total value, sales tax, trade discount, etc. It is also called a Bill or Memo. Buyer gets information all about the amount he has to pay to the seller from Invoice only.2. Pro-Forma Invoice – The statement (or forwarding letter) containing the details of goods consigned from consigner to consignee is known as aPro-forma Invoice. It gives the particulars as regards quantity, quality, price and expenses incurred on the goods consigned. In case of consignment, consignee is an agent of consigner who is supposed to sell goods on behalf of consigner and this statement/proforma invoice is only for his information. It is also known as interim invoice.3. Debit Note – It refers to a letter or note which is sent by the buyer to the seller stating that his (seller’s) account has been debited by the amount mentioned in note on account of goods returned herewith. It states the quantity, rate, value and the reasons for the return of goods.4. Credit Note – It refers to a letter or note which is sent by the seller to the buyer stating that his account has been credited by the mentioned amount on account of acceptance of his claim about the goods returned by him.5. Lorry Receipt – It refers to a receipt issued by the Transport Company for goods accepted by it for sending from one place to another. It is also known as Transport Receipt (TR) and Bilty.6. Railway Receipt – It refers to a receipt issued by the Railways for goods accepted for sending from one station to another. | |
| 921. |
What is chain store system? Discuss it\'s advantages and disadvantages. |
| Answer» A chain store is a group of similar retail shops that sell the same type of goods. All these shops or branches are under the control of the head office. Branches are opened in different parts of the city or even in different parts of the country.Advantages of Chain Stores1. Chain stores specialize in a particular product.2. Such stores can cater to the needs of people in different localities.3. Central location and luxurious premises are not required for chain stores.Disadvantages of Chain Stores1. As chain stores deal only in a particular item, they may not attract many customers.2. The head office may find it difficult to exercise control over a number of retail outlets/branches established throughout the city/country.3. The central office also has to maintain the relevant accounts in respect of every shop and this again is a tedious process.4. The product quality, price etc., are decided by the controlling office. The retail shops have to sell what is supplied to them. | |
| 922. |
Describe the organisation and working of a departmental store. |
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| 923. |
What is departmental store? Discuss it\'s merit and demirts . Why it is not popular in india? |
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| 924. |
What is sole proprietorship? |
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Answer» #Business owned by a single owner#small scale#no nees to share profit with anyone#takes his own decision#unlimited liability Sole proprietorship means a business owned, financed and controlled by a single person who is recipient of all profit and bearer of all risks.It is SUITABLE IN AREAS OF PERSONALISED SERVICE like beauty parlour, hair cutting saloons & small scale activities like retail shops.Features1. Single ownership:\xa0It is wholly owned by one individual.2. Control:\xa0Sole proprietor has full power of decision making.3. No separate legal entity:\xa0Legally there is no difference between business& businessmen.4. Unlimited liability:\xa0The liability of owner is unlimited. In case the assets of business are not sufficient to meet its debts, the personal property of owner can be used for paying debts5. No legal formalities:\xa0Not required to start, manage and dissolve such business organization.6. Sole risk bearer and profit recipient:\xa0He bears the complete risk and there is no body to share profit/loss with him. |
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| 925. |
note making of chapter the ailing planet class 11 |
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| 926. |
Mention the classificationof objtives of business through chart |
| Answer» first of all they classified into two group Social objective Economic objectiveSocial objective . quality of goods to customer. Avoid hoarding and black market .provide employment to the society .good working condition to the society.avoid pollutionEconomic objective.earning profit.growth and expansion. upgradation of good . advertising for new product | |
| 927. |
How would we define insurable interest in easy words ...??? |
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Answer» Thnx..? Reasonable concern of a person to obtain insurance for any individual....U can understand it as..Lets suppose the head of the family took the insurance policy...Soo he will took the insurance policy for his family members but not for any stranger...Just bcoz he have insurable interst in it...He is concerned about his family |
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| 928. |
Name any 2 areas where SSLs feel threated enterprise |
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| 929. |
Defination of small business? |
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Answer» Operates on a small scale.....less capital is needed....less labour force required A business which operates on a small scale and required less capital, less labour and less machines is called small business. The goods are produces on a small scale. This business is operated and managed by the owner of the business. In India, the village and small Industries sector consists of both traditional Handlooms, Handicrafts, khadi and Village Industries. Modern small Industries – Small scale industries and Power looms. |
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| 930. |
Company features |
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| 931. |
What type of share capital is also called "Risk capital"? |
| Answer» Equity share capital is also called risk capital. | |
| 932. |
What is the aim of NSIC? |
| Answer» To become a leading organization fostering the growth of MSMEs Sector in India. Mission: To support and promote MSMEs Sector by providing combined support services encircling Finance, Marketing, Technology and other Allied Services. | |
| 933. |
Difference between international business and domestic business. |
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Answer» International businessThe business that takes place between two or more countriesDomestic businessThe business that takes place within the same country Trade refers to the exchange of goods and services for money, which can be undertaken within the geographical limits of the countries or beyond the boundaries. The trade which takes place within the geographical boundaries of the country is called domestic business, whereas trade which occurs between two countries internationally, is called international business.Entities engaged in international business often face more difficulties than the entities which conduct domestic business. Although international business enjoys large customer base as they operate in multiple countries. Here is an article which compiles the important differences between domestic and international business. |
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| 934. |
Explain objective of business . |
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Answer» It\'s ok An\xa0objective\xa0is something you want to achieve. ... Similarly,\xa0business objectives\xa0are something which a\xa0business\xa0organization wants to achieve or accomplish over a specified period of time. These may be to earn profit for its growth and development, to provide quality goods to its customers, to protect the environment etc. |
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| 935. |
How to prepare project on the topic " Visit to a wholesale market of grain " |
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| 936. |
Why business finance is known as the life blood of the company? |
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Answer» Finance Can anyone help me out?? |
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| 937. |
What is the aim of NSIC |
| Answer» National Small Industries Corporation (NSIC) was established in the year 1955 in order to promote, aid and foster the growth of small business units in the country. The functions of NSIC are as follows : Vz\tTo create awareness about technological upgradation.\tTo develop technology transfer centres and software technology parks.\tTo export the products of small business units in order to develop export worthiness.\tTo obtain, supply and distribute indigenous and imported raw materials.\tTo provide mentoring and advisory services.\tTo serve as technology business incubators.\tNSIC has also introduced a new scheme of performance and credit rating for small businesses in order to encourage them to maintain good financial track record and to sensitize them about the need for credit rating. | |
| 938. |
What about Mutual agency??? |
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Answer» Mutual agency implies that every partner is both an agent and principal. He is an agent of other partners as he represents them and there by binds them through his decisions and acts. He is a principal as he too can be bound by the acts of other partners. Mutual agency is the legal relationship between partners in a partnership where each partner has authorization powers and the ability enter the partnership into business contracts. In other words, each partner in the partnership is an agent in the business and the authority to make business decisions that commit or bind the partnership, as a whole, to a business agreement with a third party or entity. |
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| 939. |
1.XyzLimitedisplantingtreeseverymonthontheroadside.Nametheobjectiveitistryingtoaccomplish? |
| Answer» the work of planting tress comes under social objectives as due to industries and factories there has been a lot of deforestation which has been fulfilled by aforestation.ROLE OF BUSINESS ENVIRONMENTAL PROTECTION:1. Eco-friendly and clean or low waste technology should be used by industrial organization.2. Industrial Wastes should be recycled as far as possible.3. Plant and machinery should be modernized to minimize pollution.4. The business houses should comply with the laws and regulations enacted for prevention of pollution.5. Positive steps should be taken to save environment. These include plantation of trees, cleaning of rivers, ponds etc. | |
| 940. |
Incentives provided by reliance Industries Limited |
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| 941. |
Types of Insurance taken by reliance industry |
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| 942. |
What are various types of industry ? explain each ? |
| Answer» Various types of industries are:\tPrimary- Industries which deal with obtaining or offering raw materials which are processed as commodities for the customers. Example: Farming, Fishing\tSecondary- Industries which are essentially manufacturing or assembling industries. It receives raw materials from primary industries and processes them to commodities for the customers. Example: Food manufacturing, Textile manufacturing\tTertiary- These industries act as a support system to the primary and secondary industries. It is also known as the service industry or the service sector. Example: Banking, Transport. | |
| 943. |
Describe briefly any two application of e-business ? |
| Answer» Two applications of e-business are(i) e-Procurement It involves internet-based sales transactions between business firms, including "reverse auctions" that facilitate online trade between a single business purchaser and many sellers, and, digital market places that facilitate online trading between multiple buyers and sellers.(ii) e-Communication/e-Promotion It includes e-mails, publication of online catalogues displaying images of goods, advertisement through banners, pop-ups, opinion polls and customer surveys, etc. Meetings and conferences may be held by the means of video conferencing. | |
| 944. |
What is E-banking ? |
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Answer» E banking mean any user with pc Can be connected to the bank , website to part as a virtual bank and they make proper banking function E-banking means any user with a PC and a browser can get connected to the banks’ website to perform any of the virtual banking functions and avail of any of the banks services. There is no human operator to respond to the needs of the customer.\xa0 |
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| 945. |
Difference between Government company and private company?? |
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Answer» I am only asking about government company and private company ??????? I am not asking about public aur private company | Bases of difference | Private company | Public company | \tNumber of membersIt needs at least 1 member for its formation. The maximum number can be 50.It needs at least 7 members for its formation. The maximum number is not limited.Invitation for capitalIt cannot invite the public to buy its sharesIt is free to invite the public to buy its sharesCommencement of businessIt can commence the business immediately after the incorporationIt can commence the business after receiving the certificate of commencement of business.Issue of prospectusIt does not need to issue prospectusIt must issue prospectusStatutory meetingIt does not need to hold statutory meeting and file statutory report.It must hold statutory meeting and file statutory reportTransfer of sharesThe transferability of share is not allowed and hence its ownership cannot be transferredThe transferability of share is allowed and hence its ownership can be transferredUse of wordIt must use the word Pvt. Ltd. at the end of its name.It must use the word Ltd. at the end of its name\t|
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| 946. |
How society contribute towards the growth of business enterprise? |
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| 947. |
Distinguish between public sector or private secter |
| Answer» Public sector:1) These organisations are operated directly by the government or by the government sponsorship.2) The service charges are comparatively affordable.3) Government aided cost free services are also provided by these organisations.\xa0Private sectors:1) These organisations are operated by the private companies.2) The service charges are very high and not affordable for most middle class and lower middle class population.3) Cost free services are rarely provided by these organisations.\xa0 | |
| 948. |
Full form of B.P.O. |
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Answer» Business Process Outsourcing Business Process Outsourcing (BPO)Many activities have to be performed for the successful conduct of business like productions, buying, selling, advertising etc. When the scale of business is small, the businessman used to perform these activities easily. However, with the enlargement of scale of business, this job has become tedious. Therefore, in order to overcome the difficulties connected with the performance of many activities and to get the benefit of specialization, these services are now obtained from outside the organization. This is called outsourcing of services or BPO. |
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| 949. |
What do you understand by business |
| Answer» \xa0Business:\xa0Refers to Purchase, production and/ or sale of goods & services with the objective of earning profit.\tBasisBusinessMode of establishmentStarts after completing some legal formalities if needed.Nature of workProvision of goods \xa0and service to the public.QualificationNo minimum qualification is necessary.Capital investmentCapital needed according to its size and capacity.Reward/ ReturnsProfitsRiskHigh RiskCode of ConductNo code of conduct\t | |
| 950. |
What is enterprises |
| Answer» An enterprise is the business organization that is formed by an individual and group of individuals, which brings all required resources together for the production of goods and services. | |