15 + Interview Questions in HOME TRADE IN GENERAL AWARENESS Page 1 InterviewSolution

1.	What is “Franco”?
Answer» Franco includes all the expenses which are incurred in sending the goods up to to the godown of the buyer. All the expenses are made by the seller and the buyer does not make any payment for expenses, but they are all included in the price of the goods.

Discussion

2.	Write down the full form of C. O. D.
Answer» Cash on Delivery.

Discussion

3.	When actual delivery takes place?
Answer» Actual delivery takes place when the seller actually hands over the goods to delivery.

Discussion

4.	What is “Cash Down Payment”?
Answer» Cash down payment. It means that the buyer will have to make the payment of the time of sale of goods.

Discussion

5.	Name the one kind of Home Trade.
Answer» Manufacturing.

Discussion

6.	Which type of document is made if the buyer is undercharged can the invoice for any reason?
Answer» Correct answer is Debit note

Discussion

7.	What denotes ‘Trade’?
Answer» Trade refers to the sale, transfer or exchange of goods and services and constitutes a central activity around which the other business functions like banking, transportation, insurance, packaging, warehousing and advertising cluster.

Discussion

8.	What are the benefits of an advertisement in the newspaper?
Answer» Following are the benefits Benefits of Advertisement in Newspaper: 1. At a comparatively cheap cost, such advertisement can be presented for numerous customers who could not otherwise approach. 2. Any business houses increasing a sale by advertisement in a newspaper.

8.

What are the benefits of an advertisement in the newspaper?

Answer»

Following are the benefits Benefits of Advertisement in Newspaper:

1. At a comparatively cheap cost, such advertisement can be presented for numerous customers who could not otherwise approach.

2. Any business houses increasing a sale by advertisement in a newspaper.

Discussion

9.	………. is the document whereby the seller credits the account of the buyer with the amount overcharged. (a) Debit Note (b) Credit Note(c) Cash Memo (d) Voucher
Answer» (b) Credit Note

Discussion

10.	Name the trade between India and the United States of America and Define it.
Answer» Foreign Trade: Foreign Trade means the trade that is carried on between living in different countries or between the government of different countries.

Discussion

11.

What is meant by Retail Trader? Differentiate between retailer and wholesale trader. Mention the services provided by a retailer towards society. Or What is wholesale trade? Distinguish between wholesale trade and retail trade.

Answer»

The retailer is one who purchases goods from wholesalers, deals in small quantities of goods but his business is not specialized in one line of goods and he sells goods to ultimate consumers.

Differences between Wholesalers and Retailers:

Basis of Difference	Wholesalers	Retailers
1. Nature of Business	They purchase goods from producers and sell them to retailers for the purpose of further sale.	They purchase goods from wholesalers and sell them to consumers for the purpose of consumption.
2. Quantity of purchases	They purchase goods in large quantities and sell them in comparatively smaller quantities to retailers.	They purchase goods in small quantities from a wholesaler and sell them in still smaller quantities to consumers.
3. Nature of Transactions	Credit is the basis of wholesale trade.	They generally do cash transaction.
4. Scale	They carry the business on a very large scale.	They carry the business on both, small as well as large scale but usually on small scale.
5. Capital	Huge capital is required by them.	They do not require huge capital.
6. Position	They are a link between producers and retailers.	They are a link between wholesalers and consumers.
7. Commodity	They deal in less number of commodities	They deal in many commodities.
8. Place of Business	Their business is spread in a very wide area.	Their business is centralised in one place.
9. Buyers	They sell goods to dealers or industrial users.	They sell goods to ultimate consumers.
10. Knowledge of Business	They have full knowledge of the situation in the market.	They have full knowledge of the taste and requirements of the consumers.
11. Price	Wholesale price is lower than the retail price.	Retail price is higher than the wholesale price.

Discussion

12.

Differentiate between Debit Note and Credit Note.

Answer»

Debit Note	Credit Note
1. Debit note is made if the buyer is undercharged in the invoice for any reason viz-error, omission etc.	1. The credit note is made if the buyer has been overcharged in the invoice and to amend the error which is made.
2. It is prepared with ordinary ink which is used in our daily routine	2. It is either written in red ink or is printed red in colour.
3. The amount of the debit note is debited in the account of the buyer.	3. The amount of credit note is credited in the account of the buyer.
4. The purchaser has to make more payment than invoice amount i.e., the number of invoice increases.	4. The purchaser has to make less payment than invoice amount i.e., the number of invoice decreases.
5. The employees of the seller give information about the error.	5. The error is pointed out by the complaint letter of the buyer.

Discussion

13.	Weight of the commodity only is called: (a) Gross weight (b) Total weight (c) Net weight (d) None of these
Answer» (c) Net weight

Discussion

14.	When the businessman changes the shape and qualities of the thing, the process is known as: (a) Industry(b) Manufacturing (c) Business(d) None of these
Answer» (b) Manufacturing

Discussion

15.	Describe four labour and time-saving device in business offices.
Answer» The following are the main time and labour saving appliances: (a) Typewriter: This is the most common medical and for writing. It infused not only for need and clean writing but also for the fact that a number of copies can be made with the use of carbon or stencil. Typewriters are available in different sizes and have different technological sophistication. Various types of typewriters are available. Standard typewriter, portable typewriter, Noiseless and Electronic Typewriter are main. (b) Book-keeping Machine: The most important and perhaps the most advanced mechanical service used in big business offices in the book-keeping machine. It can fast ledgers, make statements, prepare payrolls and add and subtract. The stutes are inverted in the machine and amount keys are pressed. The whole thing is printed and balances are automatically extracted. Such machines are largely used in big business houses of America and England and are most helpful for insurance and banking companies. The important makers of this machine are the Burnougts, the Remington and the ElliotFister. (c) Time Recorder: Time recorders are the machines which record the time of arrival and departure of an employee. The Cled fill Book Time Recorder in a good mape. Time recording machines are mostly used in big factories where thousands of workers on duties and the task of recording the time of their arrival and departure accordingly is not ordinarily possible. These machines are like a big clock. Each worker is given a card bearing a number. As soon as he comes to the factory, he has to insert the card into the machine and a slight pressure prints the time of his arrival. The same thing has to be done at the time of departure. An official goes through these cards and can easily detect those who can take or go early. It is of great help in ensuring punctuality on the part of the workers. (d) Funded Card System: Funded card system is a system of accounting in which the accounting data contained in primary discounts in transcribed into a number of holes in a card known or punched card. In other words, (UPBoardSolutions.com) the sake which was recorded in the ledger and other books in words and figures may be recorded in code by making holes on the cards. Or Harman Hollerith and Mrs James Pones were the first to develop this method for processing census data.

15.

Describe four labour and time-saving device in business offices.

Answer»

The following are the main time and labour saving appliances:

(a) Typewriter: This is the most common medical and for writing. It infused not only for need and clean writing but also for the fact that a number of copies can be made with the use of carbon or stencil. Typewriters are available in different sizes and have different technological sophistication. Various types of typewriters are available. Standard typewriter, portable typewriter, Noiseless and Electronic Typewriter are main.

(b) Book-keeping Machine: The most important and perhaps the most advanced mechanical service used in big business offices in the book-keeping machine. It can fast ledgers, make statements, prepare payrolls and add and subtract. The stutes are inverted in the machine and amount keys are pressed. The whole thing is printed and balances are automatically extracted. Such machines are largely used in big business houses of America and England and are most helpful for insurance and banking companies. The important makers of this machine are the Burnougts, the Remington and the ElliotFister.

(c) Time Recorder: Time recorders are the machines which record the time of arrival and departure of an employee. The Cled fill Book Time Recorder in a good mape. Time recording machines are mostly used in big factories where thousands of workers on duties and the task of recording the time of their arrival and departure accordingly is not ordinarily possible.

These machines are like a big clock. Each worker is given a card bearing a number. As soon as he comes to the factory, he has to insert the card into the machine and a slight pressure prints the time of his arrival. The same thing has to be done at the time of departure. An official goes through these cards and can easily detect those who can take or go early. It is of great help in ensuring punctuality on the part of the workers.

(d) Funded Card System: Funded card system is a system of accounting in which the accounting data contained in primary discounts in transcribed into a number of holes in a card known or punched card. In other words, (UPBoardSolutions.com) the sake which was recorded in the ledger and other books in words and figures may be recorded in code by making holes on the cards. Or Harman Hollerith and Mrs James Pones were the first to develop this method for processing census data.

Discussion

Explore topic-wise InterviewSolutions in .

What is “Franco”?

Write down the full form of C. O. D.

When actual delivery takes place?

What is “Cash Down Payment”?

Name the one kind of Home Trade.

Which type of document is made if the buyer is undercharged can the invoice for any reason?

What denotes ‘Trade’?

What are the benefits of an advertisement in the newspaper?

………. is the document whereby the seller credits the account of the buyer with the amount overcharged. (a) Debit Note (b) Credit Note(c) Cash Memo (d) Voucher

Name the trade between India and the United States of America and Define it.

What is meant by Retail Trader? Differentiate between retailer and wholesale trader. Mention the services provided by a retailer towards society. Or What is wholesale trade? Distinguish between wholesale trade and retail trade.

Differentiate between Debit Note and Credit Note.

Weight of the commodity only is called: (a) Gross weight (b) Total weight (c) Net weight (d) None of these

When the businessman changes the shape and qualities of the thing, the process is known as: (a) Industry(b) Manufacturing (c) Business(d) None of these

Describe four labour and time-saving device in business offices.