Tag Archives: commerce






Commerce Questions and Answers – Part14

131. Who is a property broker? They are mainly engaged in buying and selling fixed assets like land, buildings etc. 132. What is Loco or Ex-factory? This means the price quoted includes cost of goods plus a nominal profit. The place of delivery would be the suppliers factory or godown. The cost of transport, insurance

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Commerce Questions and Answers – Part13

121. What is the definition of Chambers of Commerce? “Chambers of commerce is an voluntary association of merchants, financiers, manufactures and other engaged in business for the purpose of promoting and protecting the interests of its members and of the trade of the country as a whole”. 122. Who is an agent? An agent is

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Commerce Questions and Answers – Part12

111. Define Bill of Exchange? The negotiable instruments act, 1881 definesa ‘bill of exchang’ as “an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument.

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Commerce Questions and Answers – Part11

101. What is business cycle? A recurring sequence of changes business activity. 102. What is a Bank? According to Prof: John pagets “no one or nobody coporate or otherwise can be a banker who does not open current accounts; pay cheques drawn on himself and collect cheques for costomers”. 103. What is an exchange bank?

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Commerce Questions and Answers – Part10

91. What is Boomboggling? It is the wasteful or uneconomic labour indulged in by a firm to boost cost of production. 92. What is Quid proquo? One thing in return for another consideration 93. What is a paper gold? Colloquial name for special drawing rights or similar suggested schemes 94. What is Kennedy Round? A

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Commerce Questions and Answers – Part9

81. Who is a journeyman? A crafts man who, having finished his period of apprenticeship 82. What is a Questionaire? A document especially reproduced in large numbers containing a set of questions intended to elicit useful information 83. Give another name for parent company? Holding company 84. What function of the computer ensures that the

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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

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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

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Commerce Questions and Answers – Part6

51. What is the name of entry which is used in Bank Column cash book to record the money transaction? Contra entry 52. The fixed cost of producing a quantity of a good divided by the quantity produced is : Average fixed cost 53. Which is the basic document of a company? Memorandom of association

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Commerce Questions and Answers – Part5

41. What is Petty Cash? A small fund of cash held by an institution which is used to make small and urgent payments 42. Who are entitled to take part in the control and management of business in a company? The board of directors elected by the shareholders 43. In a company who is responsible

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