Commerce Questions and Answers – Part8

71. How is an asset expressed?
Assets Liabilities = owner’s equity

72. What is Subsidy?
It is a method adopted by the government or a company of supporting a price

73. In which organization, every subordinate must obey his superior, whether be likes it or not?
Formal organization

74. Which department is maintained in every modern business house to obtain the good will of the people?
Public relations departments

75. What is Quasi-loan?
It is an arrangement between two persons under which one agrees to meet some of the other’s financial obligations on condition that the later reimburses him.

76. Which are the main principles in allocation of office work?
They are specialization, correlation and business connection

77. Who first suggested the separation of manual work from mental labour through the establishment of two department?

78. Which are the two deparments suggested by Taylor?
Planning and Operation

79. Which is a chief subsidiary object of auditing?
Detection of Frauds and errors

80. What is Freight?
The money paid to a ship owner for carrying goods by an exporter

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