Commerce Questions and Answers – Part7

61. Which bank note gives the bearer the right to have its face value converted into gold or some other commodity of value equivalent to the amount stated?
Convertible bank-note

62. In which form the co-operative society, distributes its surplus dividends to its members?
In the form of bonus

63. Which is the technique designed to create an artificial market to benefit a businessman?
Rigging the market

64. What is dead time?
Time lost through no fault of the employee and for which he is usually paid at the full rate

65. What is a decision tree?
A diagram of a sequence of decisions, each of which involves choosing between a known number of alternatives and depends on the resultants of the previous decisions

66. What is syndicate?
A group of people working together towards a common objective usually profit is called a syndicate.

67. In the aspect of banking business what is the term used of giving loans to companies on a large scale?
Wholesale banking

68. The profit margin which a retailer of goods obtains form his supplier is called:
Trade discount

69. What is the main distinction between an Auditor and an Accountant?
It is the duty of the auditor to prepare the accounts, The accounts has to be prepared by the accountant where as the auditor is concerned with the detailed and critical examination of the account book

70. What is the term used to indicate a statement of what is owned and what is owed?
Assets and Liability statements

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