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Features of internal trade - class-XI

Tests knowledge of internal trade concepts including definition, types (wholesale and retail), features, and related trade operations and documents.

14 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

By the term SCM, we mean _________.

  1. supply chain management
  2. supply chain monitoring
  3. supply chain movement
  4. none of the above
Question 2 Multiple Choice (Single Answer)

The results of over-trading may be ____________.

  1. Overcapitalization
  2. Liquidity
  3. Technical insolvency
  4. All of the above
  5. Both (B) and (C) above
Question 3 Multiple Choice (Single Answer)

If the realized collection period is more than the terms of trade it can be said that __________________.

  1. The collection job is over
  2. The quality of debtors is poor
  3. The average daily sales are low
  4. All of the above
  5. Both (A) and (B) above
Question 4 Multiple Choice (Single Answer)

The phenomenon of over-trading in working capital is characterized by _______________________.

  1. Less amount of cash invested in current assets
  2. Overcapitalizatiion of the company as compared to volume of sales
  3. High amount of cash invested in current assets
  4. All of the above
  5. Both (A) and (C) above
Question 5 Multiple Choice (Single Answer)

Buying and selling of goods and services within the boundaries of a nation are referred to as __________.

  1. external trade
  2. internal trade
  3. sale transaction
  4. none of the above
Question 6 Multiple Choice (Single Answer)

Purchase and sale of goods in relatively small quantities, generally to the ultimate consumers, is referred to as _________.

  1. wholesale trade
  2. retail trade
  3. Internal trade
  4. External trade
Question 7 Multiple Choice (Single Answer)

Internal trade can be classified into two broad categories. The two categories of internal trade are _________ and _________.

  1. wholesale, retail trade
  2. inward , outward trade
  3. intra state, inter state trade
  4. none of the above
Question 8 Multiple Choice (Single Answer)

Which is termed as trade bill?

  1. An inland instrument drawn outside India.
  2. An instrument drawn outside India.
  3. An outside trade bill drawn in India.
  4. None of the above.
Question 9 Multiple Choice (Single Answer)

"A trader is not a middleman bringing the buyer and seller together and receiving the commission for the services provided by him." Is the statement true or false?

  1. True
  2. False
  3. Depends on the condition
  4. There is nothing specified about it
Question 10 Multiple Choice (Single Answer)

When the data is shared with the companies suppliers in SCM than it is called _______.

  1. upstream
  2. downstream
  3. both a and b
  4. none of the above
Question 11 Multiple Choice (Single Answer)

These are demanded when buyer returns goods already paid for on grounds of, say, unacceptable quality ____________.

  1. Debit Notes
  2. Credit Notes
  3. Sales Letters
  4. Statement of Accounts
Question 12 Multiple Choice (Single Answer)

Which of the following is true in relation to internal trade?

  1. No custom duty or import duty is levied on such trade as goods are part of domestic production and are meant for domestic consumption
  2. Generally, payment has to be made in the legal tender of the country or any other acceptable currency
  3. Internal trade can be classified into two broad categories
  4. All of the above
Question 13 Multiple Choice (Single Answer)

Which of the following is an example of internal trade?

  1. Products purchased from a neighborhood shop in a locality
  2. Products purchased from door-to- door salesperson
  3. Products purchased from an exhibition
  4. all of the above
Question 14 Multiple Choice (Single Answer)

When the data is shared with the companies clients in SCM than it is called _______.

  1. upstream
  2. downstream
  3. both a and b
  4. none of the above
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