Commerce Questions and Answers – Part4

31. What is Tap?
A large quantity of securities held by some one who is able to sell to any one who wants to buy is called a tap.

32. What is value Added Tax(V.A.T.)?
The principle of V.A.T. is that tax is levied at each stage of the production of goods or services and on the value added at each stage of the production

33. What is Vital Statistics?
It is the statistics concerned with births, deaths, ages, health, marriages, diseases etc…

34. What is Gratuity?
A gift given especially of a small sum of money given in response to ther service received or anticipated

35. What is Gross National Product (G.N.P)?
It is the total value of all goods and services that are produced by the people of a specified country in an year

36. What is Wage?
It is the remuneration paid to the operative staff whoe output can be directly in an year

37. What is a By-product?
A commonly which can be sold, produced in the process of manufacturing the main product.

38. Which is called a barometer of financial health of a country?

39. A document issued by a vendor giving credit to the debtor is called:
Credit note

40. What is the term used with reference to assurance policies?

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