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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
Articles of association is governed by |
| Answer» | |
| 102. |
How is company different from partnership |
| Answer» Partnership is a kind of agreement between two or more people and later share profit & loss.But company is an association which registers with a group to spend money in a stock together and later share profit and loss.I hope it will help u! | |
| 103. |
who driverd business concept |
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| 104. |
Full Topic on industries |
| Answer» | |
| 105. |
Mental revolution is the essance of |
| Answer» | |
| 106. |
write any three drawbacks of chain stores |
| Answer» \tUnlike a departmental store in a chain store, the variety of products and the number of choices are limited\tIndividual stores become dependent on the home office and generally do not show any initiative or drive to ramp up sales\tThese stores are not well adapted to changing demand. Since they have huge inventories they may face losses if the market demand changes | |
| 107. |
Why is it important for every business to earn a reasonable profit? |
| Answer» It is important for every business to earn a resonable profit to regulate its regular expences.<br>With the objective of maximum profit a person may indulge in unfair activities such as adulteration, profiteering etc.<br>Profit is the main motive of any business. With profit, business could pay expenses nd expenditures. Profit is required for doing further investments like buying new machinery. | |
| 108. |
Can profit is the only objective of business? |
| Answer» No , it is one of the essential and economical objective.<br>Social objectives are always there<br>No, profit is not the only objective of business, but is the prime objective of the business<br>No, but it is one of the economic objectives. | |
| 109. |
Merits of Co-operative society |
| Answer» Merits:\tEase of formation: It can be started with minimum of 10 members. Registration is also easy as it requires very few legal formalities.\tLimited liability: The liability of members is limited to the extent of their capital contribution.\tStable existence: Due to registration it is a separate legal entity and is not affected by death, lunacy or insolvency of any of its members.\tEconomy in operations: There is economy in operation due to elimination of middle man and voluntary services provided by its members.\tGovernment support: Government provides support by giving loans at lower interest rates, subsidies and by charging less taxes.\tSocial utility: It promotes personal liberty, social justice and mutual cooperation. They help to prevent concentration of economic power in a few hands. | |
| 110. |
Which of the following is statutory company? |
| Answer» | |
| 111. |
Is e-business and e-commerce same. Give reason in support in your answer |
| Answer» \te-commerce is concerned with the firm’s dealings with its customers, clients or suppliers. Conversely, e-business refers to undertaking industry, trade, and commerce, with the help of information technology and communication.\te-commerce is nothing but buying and selling of goods around the web. On the contrary, e-business is a little different as it is not limited to, commercial transactions, but it also provides other services. | |
| 112. |
State two areas where ppp model is used |
| Answer» Hospital and schools | |
| 113. |
Write the characteristic of business |
| Answer» The characteristics of business are as under:An economic activityBusiness is considered to be an economic activity because it is undertaken with the objective of earning money orlivelihood and not because of love, affection, sympathy or any other sentimental reasons.Production or procurement of goods and servicesBefore goods are offered to the people for consumption, they must either be produced or procured by the businessenterprise. Thus, every business enterprise either manufactures the goods it deals in or it acquires them from producers,to be further sold to the end user.Sale or exchange of goods and servicesBusiness involves transfer or exchange of goods and services for value. If goods are produced not for the purpose of salebut say for internal consumption, it is not a business activity. Thus, the important characteristics of business is that thereshould be exchange of goods between the buyer or the seller.Dealing in goods and services on a regular basisBusiness is a ongoing activity. it involves dealings in goods or services on a regular basis. One single transaction of saleor purchase does not constitute business.Profit earningOne of the main purpose of business is to earn profits. No business can survive for long without earning profit. That iswhy businessmen make all possible efforts to maximize profits, by increasing the volume of sales or reducing costs.Uncertainty of returns\xa0Uncertainty of return refers to the lack of knowledge relating to the amount of money that the business is going to earnin a given period. Every business invests money to run its activities with the objective of earning profits. However, theamount of profits that can potentially be earned is not consistent. Additionally, there is a possibility of losses beingincurred, in spite of the best efforts put into the business.Elements of riskRisk is the uncertainty associated with an exposure to loss. It is caused by some unfavourable or undesirable event. Therisks are related with certain factors like changes in consumer tastes and fashions, changes in methods of production,strike or lockout in the work place, increased competition in the market, fire, theft accidents, natural calamities etc. | |
| 114. |
"A contract of fire insurance is a contract of indemnity and indemnity only" Comment. |
| Answer» Indemnity means when a person promises to save the other party from the loss caused from the conduct of promisor or by the conduct of any other person. And in the insurance of fire , insurance company promises to pay a certain amount when the property is destroyed by the fire. | |
| 115. |
Give the two items of the owners fund. |
| Answer» (i)Equity shares.(ii) Retained earnings. | |
| 116. |
What is getting information about bank balance on mobile & Some latest transaction called? |
| Answer» | |
| 117. |
Which type of Organisation that a disadvantage namely \'No benifit to poor people\'? |
| Answer» | |
| 118. |
Role of profit in buisness |
| Answer» 1. Sources of Income: Investors invest their money in the business with the sole purpose of earning profit, since profit is a source of income, it is therefore provides the owners of business the mean with which they and their family members can live a comfortable life.2. Continuity of Business: The incentive of earning profit keeps the man engaged in business activities. A business can only grow and gain strength if it earns profit. So earning of profit is necessary for the continuity of business.3. Expansion of Business : One of the roles of profit in business is that businessman retains and reinvests a part of its profits in business undertaking stands on sound footing. It can expand and diversify business not only from reinvestment of funds but also getting loans from external sources for business.4. Reward of Risk Bearing: Profit is the reward for bringing new products or processes to the market. It is a reward for a risk successfully undertaken. Profit, therefore, is a reward for the future which is uncertain.5. Profit and Economic Development: Another role of profit in business is economic development. Profit and economic development are closely related with each other. If the firms are not earning profit then there is no economic progress in the country. If there is no economic development there is no profit to the business.6. Profit Acts as Measure of Efficiency: Profit acts as an index of performance for business, if the business firms are earning profits. It shows that the country is progressing satisfactorily | |
| 119. |
Utilities of atm |
| Answer» Due to utilities of atm many peoples are safe by using atm card instead of money which is safe. By using atm card peoples are safe, in theft of there money peoples have to face loss of money | |
| 120. |
Explain the following a) world bank b)function of imt |
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| 121. |
Name the trade where import and export of goods is made |
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| 122. |
Difference between e business and traditional business |
| Answer» \tBasis of DistinctionTraditional BusinessE-Business1. Cost of setting up• High• Low, as be requirements of physical facilities.t. 2. Operating cost• High, due to fixed charges associated with investment in procurement & storage, production, marketing and distribution facilities.• Low, as a result of reliance on net work relationship rather than ownership of resources.3. Nature of contract with the suppliers and the customers.• Indirect, through intermediaries.• Direct4. Nature of Intend communication.• Hierarchial from top level management to middle level management to lower level management to operatives.• Non-Hierarchial allowing direct vertical, horizontal communication.5. Response time for meeting customers.• Long• Instantaneous.6. Shape of the organisational structure.• Vertical/Fall, due to hierarchy or chain of command.• Horizontal/flat due to directness of command and communcation.7. Business processes and length of cycle.• Sequential precedence succession relationship i.e. purchase-production/ operation marketing sales. The business process cycle is therefore logner.• Simultaneous different processes, Business process cycle is therefore shorter.8. Opportunity for inter personal touch.• Much more• Less9. Opportunity for physical pre-sampling of products.• Much more• Less, however for digital products such an opportunity is tremendous.10. Ease of going global• Less• Much, as cyber space is truly without boundaries.11. Government patronage.• Shrinking• Much, as IT sector is among the top most priorities of govt.12. Nature of Human Capital.• Semi skilled and even man power needed.• Technically and professional qualified personnel needed.13. Transaction risk.• Low due to arm is length transactions and face to face contact.• High due to the distance and anonymity of parties.\t | |
| 123. |
Full form upc |
| Answer» universal product code | |
| 124. |
Upc |
| Answer» | |
| 125. |
Describe the principle documents used in exporting |
| Answer» The principal export documents are the following:\tCommercial invoice : This document contains the details of goods supplied by the exporter. The common contents of this document are name of buyers and sellers, quanity and price of product, date of sailing, marks made on packings, etc. This document is necessary for taking clearance from the Excise Commissioner, Custom Authority, Export Inspection Agency, etc.\tPacking list: This list contains the date of packing, order number, corresponding invoice number, bill of lading number, details of shipping details of sailing, details of goods in each packet, etc.\tBill of lading : It is a very important transport document. It is issued by the shipping company when the exporter surrenders the mate’s receipt.\tAirway bill : This document is the same as bill of lading with the only diffrence that it is issued by the airway company and not by the shipping company when goods are transported through airways, then instead of Bill of Lading the exporter gets Arways Bill.\tCertificate of inspection : This certificate is issued by the export inspection agency. This certifies that export consignment has been inspected as per the specification of Export (Quality Control and Inspection) Act.\tCertificate of origin : This certificate is issued by the Chamber of Commerce or by Export Promotion Council or by a government department. This document certifies that the goods to be exported are originally from the home country only or exporter’s country only. | |
| 126. |
Ways of e-banking |
| Answer» | |
| 127. |
Define itinerant |
| Answer» Retailers who do not have any fixed place to carry out their business activities are known as itinerant traders. They have to move from one place to another along with their goods in search of consumers. | |
| 128. |
Mention the sector which aims at maximising wealth of the owners |
| Answer» Terror Sector | |
| 129. |
Difference between preliminary contract and provisional contract |
| Answer» \tBasisPreliminary ContractProvisional Contract1.MeaningPreliminary contracts are the contracts, which are made before the formation of the companyThe contracts which are entered by a company after incorporation but before it is entitled to commence business are provisional Contracts2.Enforcement of contractNeither the company can sue nor can it be sued to enforce the preliminary contracts.Can be enforced only on receiving certificate of Commencement of Business.3Contracts related toPreliminary contracts may relate to property which the promoters desire to purchase for the company or they may be made with the persons whose know-how is vital to the success of company.It is not so with the provisional contracts4Applicable forBoth private and public companyOnly public company\t | |
| 130. |
What is carting order |
| Answer» Price issue | |
| 131. |
What is business? What are its functions? |
| Answer» any legal wark done by the people, freely and regularly are called business. | |
| 132. |
Case study on hdfc bank |
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| 133. |
Case study on bank |
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| 134. |
What are the features of world trade organisation |
| Answer» Features an establishment of World Trade Organisation (WTO) : Bretten Woods Conference decided to set up an International Trade Organisation (ITO) to promote and facilitate international trade among the member countries and to overcome various restrictions and discriminations as were being practised at that time. But due to United States\' stiff competition the idea could not be materialized. Istead of abandoning the idea, the participants of the conference became ready to make some arrangement among themselves so as to liberalise the world from high custom I... iffs and various other types of restrictions that were in practice at the time. This arrangement was known as General Agreement for Tariff and Trade (GATT). This was made in Jan 1,1994. With effect form 15 Jan 1995, GATT was transformed into World Trade Organisation (WTO) with its head quarter at Geneva, Switzerland. WTO was established to offer the promotion of free and fair trade among notions. WTO is a powerful body.\xa0WTO governs trade not only in goods, but also in services and intellectual property rights. It is member driven rule based organisation in the sense that all the decisions are taken by the member Government on the basis of general consensus. It has a global status. India is founding member of WTO. As on Dec 11, 2005 there were 149 members in WTO.Objectives of WTO :1.\xa0Raising standards of living and incomes, ensuring full employment, expanding production, trade and optimal use of world\'s resources.2.\xa0Ensuring reduction of tariffs and other trade barriers imposed by different countries.3.\xa0To promote an integrated more viable and durable trading system.Functions of WTO :1.\xa0Promoting an environment that is encouraging to its member countries to came forward to WTO in mitigating their grievances.2.\xa0Laying down a commonly accepted code of conduct with a view to reducing trade barriers including tariffs and eliminating discriminations in international trade relations.3.\xa0Acting as a dispute settlement body.4.\xa0Holding consultations with IMF and IBRD and its affiliated agencies so as to bring better understanding and cooperation in global economic policy making.5.\xa0Supervising on a regular basis the operations of the revised agreements and ministerial declarations relating to goods, services and Trade Related Intellectual Rights (TRIPS).WTO agreements : The WTO agreements contain the procedure for settling disputes and also have provisions for special treatment to developing countries. The agreements require that the governments make their trade policies transparent by notifying to WTO office. Some of the WTO agreements are :1. Agreement on Textile and Clothing (ATC) : This agreement has bren developed under WTO to phase out the quota restrictions as imposed by the developed countries under Multi Fibre Arrangement (MFA) on exports of textiles and clothing from the developing countries. Under the ATC, the developed countries have agreed to remove quota restrictions in a phased manner during a period of 10 years starting from 1995. It is a milestone in the world trade of textile and clothing as virtually it would become quota free since Jan 1, 2005.2.\xa0Agreement on Agriculture (AOA) : It is an agreement to ensure free and fair trade in agriculture. Because of this, developed countries have agreed to lower down the customs duties on their imports and subsidies to the exports of agricultural products. However, developing countries have been exempted from making similar reciprocal offers.3.\xa0General Agreement on Trade in Services (GATS) : The major provisions of GATS are :1.\xa0All member countries are required to remove restrictions on trade in services in a phased manner. The developing countries have been given freedom to decide about the period by which they would liberalise the area of services.2.\xa0GATS provides that trade in services is governed by Most Favoured nations’ (MFNs) obligation that prevents countries from discriminating among foreign suppliers and services.3.\xa0All member countries shall promptly publish all relevant laws and regulations pertaining to services.4.\xa0Agreement on Trade Related Aspects of Intellectual Property Rights : This agreement was negotiated in 1986-1994. Intellectual property means information with commercial values such as idea, inventions, creative expressions and others. The agreement set out the minimum standards of protection to be adopted by the parties in respect of seven intellectual properties viz, copy rights and related rights, trade marks, geographical indication, industrial designs, patents, layout design of integrated circuits and undisclosed information (trade secrets). | |
| 135. |
How many industry are there?? |
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| 136. |
What are the different instrument to raise finances |
| Answer» letter of credit and bill of exchange | |
| 137. |
According to MSMED act , where are Ancillary units and Export Oriented Units? |
| Answer» | |
| 138. |
How can business organisation fulfill is responsibility towards its shareholders & workers |
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| 139. |
Differentiate between internal trade and international trade |
| Answer» \tInternal tradeInternational tradeInternal trade refers to the trade within the borders of the country.International trade refers to the trade between two or more countries.There is no exchange of currencies takes place in the Internal Trade because there is a same currency in the countryInternational trade involves the exchange of currencies between the nations which are involved in the trade.Internal Trade generally has fewer transportation costs and risks to transfer the goods.International trade involves very high transportation costs and risky situations to transfer goods from one country to another\t\xa0 | |
| 140. |
Give one advantage of using a vending machine by retail outlets to sell their products |
| Answer» We can buying an product at any any time and no quality were changed | |
| 141. |
How does international business help in increasing standard of living? |
| Answer» \xa0In the absence of international trade of goods and services, it would not have been possible for the world community to consume goods and services produced in other countries that the people in these countries are able to consume and enjoy a higher standard of living.<br>Toh promote generation of employement to increase its income and inequalities | |
| 142. |
Long term finance |
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| 143. |
What is mean by short term loan finance name and explain any two of them |
| Answer» | |
| 144. |
Differentiate between insurance and marine insurance |
| Answer» | |
| 145. |
E-business has added value to banking relationship |
| Answer» | |
| 146. |
What do you meant about ICD ? |
| Answer» Inter corporate deposits is issued by a company to another company to raised funds. | |
| 147. |
Examples of marketing cooperative society |
| Answer» •Adarsh Cooperative Bank•Amul•Aavin Aavin•Horticultural Producers•Anyonya Cooperative Bank Ltd. | |
| 148. |
Two examples of owners fund? |
| Answer» The two examples of owner\'s fund are –1. Retained earnings .2. Issue of shares or you can say equity shares and preference shares. | |
| 149. |
Discuss the factors that determines the choice of the form of an organisation |
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| 150. |
Solution for question paper 2016 set first |
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