Tag: commerce

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Questions Related to commerce

Multiple choice commerce types of trade features of internal trade internal trade business and industry

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
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Internal trade is primarily categorized into wholesale trade (bulk sales to intermediaries) and retail trade (sales to final consumers).

Multiple choice commerce types of trade features of internal trade internal trade business and industry

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.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Trade bills are typically drawn by the seller of goods and are accepted by the buyer. Accommodation bills do not involve the sale or purchase of any goods and/ or services; rather they are agreements between two parties with the purpose of financial support.

a bill of exchange (= a document ordering someone to pay a particular amount at a particular time) that is used to pay for goods: If the trade bill is accepted, in effect the buyer is getting credit from the seller.

Multiple choice commerce types of trade features of internal trade internal trade business and industry

Buying or selling all 30 scrips of sensex in proportion of their current weights in the sensex in one go is called _____________.

  1. Basket trading

  2. Arbitrage

  3. Badla

  4. Margin Trading
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A basket trade is an order to buy or sell a group of securities simultaneously. Basket trading is essential for institutional investors and investment funds who wish to hold a large number of securities in certain proportions. 

A basket is a group of several securities created for the purpose of simultaneous buying or selling. Baskets are frequently used for program trading. Certain specific products can be seen as specialized baskets.

Multiple choice commerce types of trade features of internal trade internal trade business and industry

Carrying forward a transaction from one settlement period to the next is known as ______________.

  1. Basket Trading

  2. Margin Trading

  3. Badla

  4. Option deal
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A basket trade is an order to buy or sell a group of securities simultaneously. Basket trading is essential for institutional investors and investment funds who wish to hold a large number of securities in certain proportions.

In business a basket is a group of several securities created for the purpose of simultaneous buying or selling. Baskets are frequently used for program trading. Certain specific products can be seen as specialized "baskets".

Multiple choice commerce types of trade features of internal trade internal trade business and industry

"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
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Section 2(1) defines trader as ”trader, in relation to any goods means a person who sells or distributes any goods for sale and includes the manufacturer thereof, and where such goods are sold or distributed in package form, includes the packer thereof. However, middleman bringing the buyer and seller together and receiving the commission for the services provided by him is not considered as a trader.

Multiple choice commerce types of trade features of internal trade internal trade business and industry

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
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A credit note is issued by a seller to a buyer to reduce the amount the buyer owes, typically due to returned goods or errors in the original invoice.

Multiple choice commerce types of trade features of internal trade internal trade business and industry

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
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
  • Buying and selling of goods and services within the boundaries of a nation are referred to as internal trade.
  • No custom duty or import duty is levied on such trade as goods are part of domestic production and are meant for domestic consumption.
  • Generally, payment has to be made in the legal tender of the country or any other acceptable currency.
  • Internal trade can be classified into two broad categories viz., (i) wholesale trade and (ii) retail trade.
Multiple choice commerce types of trade features of internal trade internal trade business and industry

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
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Internal trade occurs within a country's borders. Neighborhood shops, door-to-door sales, and exhibitions held within the country are all examples of internal trade.

Multiple choice commerce types of trade features of internal trade internal trade business and industry

NAFTA is____________________.

  1. treaty signed between two companies of Europe

  2. free trade between America and Europe

  3. free trade agreement between US, CANADA and MEXICO.

  4. free treaty between any two countries
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The North American Free Trade Agreement, which eliminated most tariffs on trade between Mexico, Canada and the United States, went into effect on Jan. 1,1994.NAFTA's purpose is to encourage economic activity between North America's three major economic powers.