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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.
| 1101. |
Name the company in which at least 51% shares are kept by government |
| Answer» Government Company is the answer | |
| 1102. |
Mention the limitations of sole trade. |
| Answer» \tOne of the biggest limitations of a sole proprietorship is the\xa0unlimited personal liability of the owner. If the business fails it can wipe out the personal wealth of the owner as well as affect his future business prospects too\tAnother problem is that\xa0a sole proprietor has access to\xa0limited capital. The money he can borrow from his own personal savings may not be enough to expand the business. Moreover,\xa0banks and financial institutions\xa0are also wary of lending to proprietorships.\tThe life cycle of a sole proprietorship is undecided and attached to its owner. An incapacitated owner may have a negative effect on the business, and it may even lead to the closure of the business. A sole proprietorship cannot carry on without its proprietor.\tA sole proprietor also has\xa0limited managerial ability. He cannot be an expert in all the fields of the\xa0business. Furthermore, limited resources may mean that he cannot hire competent people to help him out. As a result, the business may suffer from mismanagement and poor decisions. | |
| 1103. |
Is registration of sound word compulsory |
| Answer» | |
| 1104. |
Is registration of sole trade compulsy? |
| Answer» No it\'s no so necessary. It depends on owner\'s will. | |
| 1105. |
materiality |
| Answer» | |
| 1106. |
Difference between primary and secondary industry in tabular form |
| Answer» \tPrimary sectorSecondary sectorThe primary sector deals with the utilisation of natural resources such as mining, fishing, cultivation etc.\xa0The secondary sector uses the products of the primary sector as raw materials for their production.This sector is also called the agriculture and related sector as most of the natural products are obtained from agriculture, dairy, fishing and forestry.As manufacturing and processing of raw materials takes place in this sector, this sector is also known as the industrial sector.These products\xa0form\xa0the base for the secondary sector.The finished products of this sector directly reach the consumers.\t | |
| 1107. |
What do you mean by no sepratre entity in sole proprietorship |
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Answer» No Separate Entity\tAccording to the accounting system, the owner and the business are considered as two separate entities.\tBut the law does not make any distinction between the sole trader and its business.\tHence, without the sole trader, the business has no identity because he is the only person who performs all the business activities. The\xa0sole proprietorship\xa0is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under the name of its owner or it can do business\xa0 |
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| 1108. |
Ddiscuss the characteristics of business risk |
| Answer» Characteristics of Business Risk:\tThe Time. In ancient times,\xa0business-risks\xa0were less and limited. ...\tThe Size of\xa0Business\xa0Enterprise. ...\tNature of\xa0Business Risks. ...\tTerms of Sales. ...\tThe Degree of Competition. ...\tThe Competence of Management. ...\tThe Age of the\xa0Business\xa0Enterprise. ...\tOpportunities for Gains are Hidden in\xa0Business Risks. | |
| 1109. |
Prepare a project work in insurance |
| Answer» | |
| 1110. |
What\'s commission agent? Plz tell. |
| Answer» Meaning of commission agent in English. someone who sells a company\'s products and receives a part of the money paid for the goods for doing this: Such business is conducted through commission agents who sell to their families and friends. | |
| 1111. |
What\'s executors and trustees? Plz tell. |
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Answer» Thanks? The executors have\xa0two main sets of responsibilities:\tensuring that your estate is dealt with according to the law; and\tcarrying out your wishes as you have set them out in your will.One of the first things that the\xa0executors\xa0have to do is to value your estate, by assessing your assets and liabilities. This is so that they can determine whether any inheritance tax is payable, because in most cases the inheritance tax must be paid before a\xa0grant of probate\xa0can be obtained. It is probate that gives them the permission to distribute your estate.\xa0The role of a trustee of a will trust starts after the administration period of your estate. If assets in the estate are to be held on ongoing will trusts, the executors pass those assets to the trustees of the will trust, who then become the legal owners of the assets and manage them in accordance with the terms of the will trust.This explains why a will that contains a trust makes reference to the ‘executors’ and then, later in the will, to the ‘trustees’. If the will creates a trust of the whole estate, or the residuary estate, then the residuary estate is usually referred to as the ‘trust fund’ in the will. |
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| 1112. |
What the different types of companies |
| Answer» Different Types of Companies\tRoyal\xa0Chartered Companies.\tStatutory Companies.\tRegistered or Incorporated Companies.\tCompanies Limited By Shares.\tCompanies Limited By Guarantee.\tUnlimited Companies.\tPublic Company (or\xa0Public Limited Company)\tPrivate Company (or Private Limited Company) | |
| 1113. |
Distinguish between joined Hindu family business and partnership? |
| Answer» \tBasis\xa0Joint Hindu Family BusinessPartnershipFormationThe business belongs to particular family andQuite easy.MembershipThe basis of memership in the business is birth in a particular family.Any person can became its member. Maximum —2 Maximum —10 Banking firms 20 other firmsLiability of MembersThe liability of Karta is unlimited but the liability of members is limited.Unlimited.ManagementThe business is controlled by the head of the family who is the oldest member and is called Karta.Managed by Partners.SecrecyKarta maintains secrecy.Relatively maintained.SuitabilityIt is a specific form of business fond only in India. It is a type of business which is owned and carried on by the members of HUF.For small and medium sized business.ActIt is governed by the Hindu law.It is governed by Partnership Act 1932.\t | |
| 1114. |
1-Maximum number of members in a public company is:- |
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Answer» Minimum 7 maximum no limits Public Company\xa0means which is formed with minimum of seven\xa0members\xa0and three Directors. There is\xa0no\xa0restriction on\xa0maximum number of members. |
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| 1115. |
What is business in hindi terms |
| Answer» बिज़नेस की परिभाषा बहुत ही simple है. यह एक ऐसा इकनॉमिक सिस्टम या ऑर्गनाइजेशन होता है जो कोई प्रोडक्ट या सर्विस को गवर्नमेंट, कंस्यूमर आदि को बेच कर पैसे कमाना होता है. | |
| 1116. |
What are the different kind of transaction risk involved in e-business |
| Answer» There are six basic types of e-commerce — Business-to-Business (B2B),\xa0Business-to-Consumer\xa0(B2C), Consumer-to-Consumer (C2C), Consumer-to-Business (C2B), Business-to-Administration (B2A) and Consumer-to-Administration (C2A) — and all of them represent a different purchasing dynamic.\xa0These\xa0risks\xa0include inventory, labor, overhead or supply-chain problems. Because most\xa0e-businesses\xa0do not have large physical locations or warehouses, they must rely on a supply chain for getting goods to consumers. | |
| 1117. |
what type of questions might come from history of commerce and trade in india ? |
| Answer» | |
| 1118. |
What are the methods of dealing with risk explain.? |
| Answer» Jo dheek lgai | |
| 1119. |
How is covid-19 affects the economy? |
| Answer» | |
| 1120. |
What are assests ? |
| Answer» In financial accounting, an asset is any resource owned by a business or an economic entity. It is anything that can be owned or controlled to produce value and that is held by an economic entity and that could produce positive economic value.\xa0Examples\xa0of\xa0assets\xa0include: Cash and cash equivalents. Inventory. It is often deemed the most illiquid of all current\xa0assets\xa0- thus, it is excluded from the numerator in the quick ratio calculation. | |
| 1121. |
Explain the steps taken by the promoters in the promotion of company |
| Answer» The steps taken by promoters in the promotion of a company are as follows:(i) Identification of business opportunity: The first and foremost activity of a promoter is to identify a business opportunity(ii) Feasibility studies: The promoters undertake detailed feasibility studies to investigate all aspects of the business they intend to start. Depending upon the nature of the project, the following feasibility studies may be undertaken, with the help of the specialists like engineers, chartered accountants etc., to examine whether the perceived business opportunity can be profitably exploited.(a) Technical feasibility: Sometimes an idea may be good but technically not possible to execute. It may be so because the required raw material or technology is not easily available. For example, if the raw material is not produced in the country and it cannot be imported because of poor political relations then the project would be technically unfeasible until arrangements are made to make it available from alternative sources.(b) Financial feasibility: Every business activity requires funds. The promoters have to estimate the fund requirements for the identified business opportunity. If the required outlay for the project is so large that it cannot easily be arranged within the available means, the project has to be given up(c) Economic feasibility: Sometimes it so happens that a project is technically viable and financially feasible but the chance of it being profitable is very little. Promoters then take the help of experts to conduct these studies.When these investigations show positive results, then the promoters may decide to actually launch a company and move to further steps such as promoters have to select a name for the company and submit, an application to the registrar of companies of the state in which the registered office of the company is to be situated After that Promoters have to decide about the members who will be signing the Memorandum of Association of the proposed company. The promoters assist certain professionals such as mercantile bankers, auditors etc in the preparation of necessary documents which are required to be with the Registrar of Companies. The promoter takes up various steps to prepare certain legal documents, which have to be submitted under the law, to the Registrar of the Companies for getting the company registered. These documents are Memorandum of Association, Articles of Association and Consent of Directors. | |
| 1122. |
Why is a business called as economic activity |
| Answer» Consumption of goods and services, production and distribution are known as economic activities. The main aim for economic activities is production of goods and making sure that it reaches the end consumer.Therefore business is considered an economic activity because it ensures production, sale, distribution of goods and services in order to satisfy consumer wants, with the purpose of making good profits.An example of an economic activity within a business is a business distributing and delivering its products to the store. | |
| 1123. |
Why is a business is called as economic activity |
| Answer» Consumption of goods and services, production and distribution are known as economic activities. The main aim for economic activities is production of goods and making sure that it reaches the end consumer.Therefore business is considered an economic activity because it ensures production, sale, distribution of goods and services in order to satisfy consumer wants, with the purpose of making good profits.An example of an economic activity within a business is a business distributing and delivering its products to the store. | |
| 1124. |
What is goods and services |
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Answer» ?️\u200d♂️?️\u200d♂️?️\u200d♀️???? Services are essentially intangible activities which are separately identifiable and providesatisfaction of wants. We cannot kept it-in stock. Their purchase does not result in the ownership of anything physical. Services involve an interaction to he realised between the service provider and the consumer.Goods are physical products capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer. Goods also refer to commodities or items of all types, except ,services, involved in trade or commerce. |
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| 1125. |
profit is the primary motivating force for economic activity. do you agree? give any four reasons |
| Answer» Profit is the primary motivating force for an economic activity, reasons for the same are:1. It is essential for survival and growth of business.2. It measures the efficiency and the progress of a business.3.It measures the worth of an owner\'s investment.4.It act as a means of self financing, it helps to attract capital from outside.5. It increases credit worthiness of business.6.It is the reward for taking risk, it motivates people to start or invest in a business. | |
| 1126. |
Give full form of GDR and ADR |
| Answer» Global Depository Receipt (GDR) and American Depository Receipt (ADR). | |
| 1127. |
What is the meaning of scarcity |
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Answer» Scarcity refers to the. situations in which a there is a limitation in the quantity of a product when it has much demand. In other words it can be said that production of a product is less than demand. Scarcity refers to the lack of a certain resources due to various economical reasons. |
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| 1128. |
Discuss various kind of partnership |
| Answer» R u studying? | |
| 1129. |
Warehousing, mining,manufacture,innovation |
| Answer» Warehousing:\xa0It means godowns facilities. There is generally a time lag between the production and consumption of goods. This problem can be solved by storing the goods in warehouses.Innovation:\xa0It means developing new products and their multiple uses. Old customers can be maintained and new can be attracted by innovation only. | |
| 1130. |
Name of Hundi, Broder Classification Darshani and Function of Hundi. |
| Answer» | |
| 1131. |
what should be the length of 5 to 6 marks questions |
| Answer» for 11 class business studies | |
| 1132. |
Components of businesses |
| Answer» The\xa0business consists of a number of components. These components and parts build the structure of a business. Thus, the structure of a business refers to the components and parts of the business comprising different classes of activities that are performed. Business activities can be broadly classified into the following three categories:\tIndustry\tCommerce\tServices Enterprises | |
| 1133. |
An agent is appointed by the |
| Answer» | |
| 1134. |
Why there are no notes available on this app on the topic-"History of Commerce" |
| Answer» Yes | |
| 1135. |
mutual agency relationship does not exist in _____ case of partnership |
| Answer» Limited partnership | |
| 1136. |
Topic history of commerce in India |
| Answer» | |
| 1137. |
Write the detailed classification of industries |
| Answer» Industries can be classified under the following types:-1. Primary Industry: Primary industry includes all those activities, which are connected with the extraction and production from natural resources as well as reproduction and development of living organisms, plants. These industries may be further sub-divided as follows:(I)\xa0Extractive Industries: These industries extract or draw out products from natural sources. Extractive industries supply some basic raw-material that are mostly the products of the soil. Products of these industries are usually transformed into many other useful goods by manufacturing industries. e.g Mining etc.(ii) Genetic Industries: The industries remain engaged in breeding plants and animals for their use in further reproduction. For the breeding of plants, the seeds and nursery companies are typical example of genetic industries.2. Secondary Industries:\xa0Secondary industries are concerned with using the materials, which have already been extracted at the primary stage. These industries process such materials to produce goods for final consumption or for further processing by other industrial units. Secondary industries may be further divided as follows :(I)\xa0Manufacturing Industries: These industries are engaged in producing goods through the processing of raw materials and thus creating for utilities. Manufacturing industries may be further divided into four categories on the basis of method of operation for production :(a)\xa0Analytical industry: Analytical industry which analyses and separates different elements from the same materials, as in the case of a oil refinery.(b)\xa0Synthetic industry\xa0It combines various ingredients into a new products, as in the case of cement industry.\xa0 | |
| 1138. |
Which of the following Characterstic related to employment |
| Answer» | |
| 1139. |
Koi.....mere saath ....ludo khelega??? |
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Answer» Wait Accha apna code bato Hnnn...ludo talent hai..mere pass? Lodu talent?? Lodu talent pr ho kya |
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| 1140. |
State ur opinion on how the different auxiliaries to trade are affected due to covid -19 |
| Answer» | |
| 1141. |
5 limitation of financial institutions |
| Answer» \tRestriction on dividend payment imposed on the powers of the borrowing company by the financial institutions.\tAs these institutions come under government criteria, they follow rigid rules for granting loans. Too many formalities make the procedure time-consuming\tFinancial institutions may have their nominees on the Board of Directors of the borrowing company thereby restricting the powers of the company. | |
| 1142. |
Any five function of commerce |
| Answer» Commerce concerns itself with all those activities that ensure a free and smooth flow of goods and services from producers to consumers.It consists of trade, and the activities which facilitate trade.These hindrances have been described below :1.\xa0Hindrance of place: Very often goods are produced at places far away from the points of consumption. Various means of transportation remove this barrier of distance and help to establish a link between the two. Packaging of goods to protect them from damage and pilferage in the course of transit, help remove the hindrance of place and thereby creates place utility.2.\xa0Hindrance of person\xa0:The manufacturers and ultimate-consumers of goods are often unknown to each other. They are not always situated at the same place. Therefore, certain people, called traders, are required to bridge the gap between them.3.\xa0Hindrance to Time: Goods are generally produced in anticipation of demand. Therefore, it becomes necessary to store them and make them available as and when the consumers demand them. | |
| 1143. |
"Risk is an inherent element of business ". Do you agree |
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Answer» Yes Yes.. |
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| 1144. |
Explain types of industries with examples. |
| 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. | |
| 1145. |
Discuss the major functions of performed by business enterprises |
| Answer» Common corporate functions of any enterprise involve the efficient management of organizational resources and entities such as finances, employees, suppliers, customers, partners, and other assets such as equipment, materials, parts, supplies and property. | |
| 1146. |
Discuss any three functions of commerce. |
| Answer» 1. Hindrance of person:This hindrance refers to the lack of contact between producers and consumers. The producer is faced with the problem of finding the buyers who need the goods he has produced and who are able and willing to buy such goods.The consumer does not know the source of supply of goods which would satisfy his needs at prices he can afford. Commerce removes this hindrance by means of trade.Trade provides an organised market where the buyers and sellers can contact each other. It saves both producers and consumers from the time-consum\xading and expensive exercise of locating each other.2. Hindrance of place:A major problem faced by producers is to send their goods to distant places without loss through theft, pilferage, damage, etc. Commerce solves this problem by means of transport, packing and insurance.Modern means of transport carry goods too far-of places quickly and safely. Packing of goods helps to preserve their quality in transit and storage. With the help of packing, businessman can preserve the quality of goods. Thus, transportation and packing are useful commercial activities.3. Hindrance of time:In modern industry goods are produced on a large-scale in anticipa\xadtion of demand. There is usually a time gap between the production and consumption of goods. Therefore, it becomes necessary to store the goods until they are sold.This problem is solved by warehousing or storage. Warehouses provide suitable storage facilities to protect the goods from fire, rain, pests, etc. Warehousing is, thus, an integral part of commerce. | |
| 1147. |
"Profit is an essential objective of business due to certain reasons ".Comment |
| Answer» Profit\xa0is the lifeblood of\xa0business, without which no\xa0business\xa0can survive in a competitive market. In fact\xa0profit\xa0making is the\xa0primary objective\xa0for which a\xa0business\xa0unit is brought into existence.\xa0Profits\xa0must be earned to ensure the survival of\xa0business, its growth and expansion over time.\xa0No business can earn profits without satisfying customers and other sections of society similarly, business cannot render service without earning profits. Thus, the real objective of business is to earn profit by serving the interests of consumers, employees, investors, Government and the society as a whole. | |
| 1148. |
Why is business responsible for environment protection? |
| Answer» The environment is the sum total of all the surroundings both natural and man-made. The quality of the environment is fast deteriorating because of the business activities. The smoke, effluents and other wastes released from the indus¬tries pollute the environment and hence affect the health of the people. Therefore, it is essential that we should protect our environment.Role of business in environmental protection :\tPreventive role : It concentrates on preventing pollution from different activities. This includes :\t(i) Use of CNG vehicles.\t(ii) Recycling of industrial wastes\t(iii) Scientific treatment of emission before their release.\t(iv) Installation of pollution resistant machinery. V/i\tCurative role : Steps must be taken to rectify the damage caused to the environment:\t(i) Promoting afforestation.\t(ii) Assisting government agencies and other\tNGO’s in cleaning polluted rivers and management of harmful substances.\tAwareness role:\t(i) Promoting awareness about ecological balance.\t(ii) Creating awareness about various causes and\teffects of environmental pollution. | |
| 1149. |
What are the varrious type of industry |
| Answer» The various types of industries are as given below:\tPrimary industries : These include all those\tactivities which are concerned with the extraction and production of natural resources.\tSecondary industries : These are concerned with\tusing the materials which have already been extracted at the primary stage.\tTertiary industries : These are concerned with providing support services to primary and secondary industries as well as activities relating to trade. These industries provide service facilities. | |
| 1150. |
What is meant by accounting |
| Answer» Accounting\xa0is the process of systematically recording, measuring and communicating information about financial transactions. The\xa0three major\xa0financial statements produced by\xa0accounting\xa0are the profit and loss statement, the balance sheet and the cash flow statement. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm\'s assets, liabilities and owners\' equity.\xa0Accounting\xa0provides information on the. | |