Tag: business studies

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Questions Related to business studies

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

The ingredients in the performance of a contract of sale by the seller are:

  1. Transfer of property in goods

  2. The passing of the risk

  3. Delivery of goods

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Performance of a Sale Contract The performance of a contract of sale implies delivery of goods by the seller and acceptance of the delivery of goods and payment for them by the buyer, in accordance with the contract.

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

What is the chief source of the Government revenue levied across states by the Central government?

  1. Central excise

  2. Sales tax

  3. Value added tax

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Central Excise duty is an indirect tax levied on those goods which are manufactured in India and are meant for home consumption. The taxable event is 'manufacture' and the liability of central excise duty arises as soon as the goods are manufactured. Central Excise duty is an indirect tax levied on goods manufactured in India. Excisable goods have been defined as those, which have been specified in the Central Excise Tariff Act as being subjected to the duty of excise.

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

Name some chambers or association that are the national guardians of trade, commerce and industry?

  1. Chamber of Commerce and Industry

  2. ASSOCHAM

  3. Confederation of Indian Industry

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Chambers of Commerce and Industry was formed as an association of business and industrial houses to promote and protect their common interest and goals. Many such chambers where formed and are present in the country. For example, ASSOCHAM, Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI). These associations or chambers regard themselves as the national guardians of trade, commerce and industry.

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

The government and Chamber of Commerce should ensure that their imposition on local levies is not at the cost of ____________.

  1. smooth transportation

  2. local trade

  3. both A and B

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A Chamber of Commerce (also referred to in some circles as a board of trade) is a form of business network, e.g., a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community.

The Chamber of Commerce gives you the opportunity to meet with other local business owners and network. Of course, they also present business owners in a positive light to the community.

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

Where do the Indian Chamber of Commerce and Industry intervene?

  1. In transportation or inter state movement of goods.

  2. In octroi and other local levies.

  3. Weights and measures and prevention of duplication brands.

  4. All of the above.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Role of Indian Chambers of Commerce and Industry. These various Indian chambers of commerce are crucial in the growth and the sustenance of the internal trade industries. They cooperate with the central and state government and other government agencies to remove some of the barriers to trade.

The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of business organisations in India. Established in 1927, on the advice of Mahatma Gandhi by GD Birla and Purushottam Das Thakurdas, it is the largest, oldest and the apex business organisation in India.

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

The Indian Chambers of Commerce and Industry has been playing a catalytical role in strengthening____________ to make it an important part of overall economic activity.

  1. external trade

  2. agricultural activities

  3. internal trade

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Domestic trade, also known as internal trade , is the exchange of domestic goods within the boundaries of a country. This may be sub-divided into two categories, wholesale and retail.

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

Name functions that are performed by the Indian Chamber of Commerce and Industry.

  1. Increase in interstate movement of goods.

  2. Introduce transparency.

  3. Remove layers of inspection and bureaucratic hurdles.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Role of Indian Chambers of Commerce and Industry. These various Indian chambers of commerce are crucial in the growth and the sustenance of the internal trade industries. They cooperate with the central and state government and other government agencies to remove some of the barriers to trade. A chamber of commerce (or board of trade) is a form of business network, for example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community.
Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

A simple and flexible_____________ is helpful in running industries, maximizing production and generating employment.

  1. marketing faciities

  2. labour legislation

  3. industrial rules

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Labour legislation is widely used both to regulate individual employment relationships and to establish the framework within which workers and employers can determine their own relations on a collective basis, for example through collective bargaining between trade unions and employers or employers' organizations

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

State the areas in agro products related issues where FICCI needs to intervene.

  1. Streamlining of local subsidies.

  2. Marketing of agricultural products.

  3. Both A and B

  4. None of these.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Federation of Indian Chambers of Commerce and Industry is an association of business organisations in India. Established in 1927, on the advice of Mahatma Gandhi by GD Birla and Purushottam Das Thakurdas, it is the largest, oldest and the apex business organisation in India.

Multiple choice function, distinction and objectives of chambers of commerce role of chambers of commerce & industry and trade associations internal trade commerce business studies

What are the projects that Chamber of Commerce needs to take for smooth trade?

  1. Marketing Projects

  2. Financial Projects

  3. Investment Projects

  4. All of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Investment Project - An investment project is a detailed proposal of an expenditure of liquid resources, with the objective of taking actions that will lead to future profits. - An investment project is made before the investment itself.