Tag: business organisation and correspondence

Questions Related to business organisation and correspondence

Banks also facilitate in international trade by providing long-term financial assistance.

business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

International trade is the exchange of capital, goods, and services across international borders. banks provide financial assistance by providing loans, credit letter etc which encourages importers and exporters to go global 

Customers can be made aware of the availability of goods through ______.

business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. distribution

  2. warehousing

  3. banking

  4. advertisement

Show answer
Correct Option: D
Explanation:

Advertising is the attempt to influence the buying behavior of customers or clients with a persuasive selling message about products and/or services. 


In business, the goal of advertising is to attract new customers by defining the target market and reaching out to them with an effective ad campaign.

___________ creates time utility by supplying the goods at the right time to the consumer.

business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Transportation

  2. Communication

  3. Insurance

  4. Warehousing

Show answer
Correct Option: D

_____ is the agency which facilitate proper flow of goods.

business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Government

  2. Trade

  3. Banking

  4. Communication

Show answer
Correct Option: B
Explanation:

The trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market. 

An early form of trade, barter, saw the direct exchange of goods and services for other goods and services. An example of trade is when you work in sales. An example of trade is the act of exchanging one item for another or one item for the money.

_______ helps in bring about stable and uniform prices indifferent markets as traders are able to equalize the supply of goods at different places according to demand.

business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Transport

  2. Warehousing

  3. Banking

  4. Insurance

Show answer
Correct Option: A
Explanation:

Transportation is a major contributor to the economy and a competitive force in business. It is the activity that physically connects the business to its supply chain partners, such as suppliers and customers, and is a major influence on the customer's satisfaction with the company.

The buyers and sellers are intimated through various communicating agencies.

business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

Buyers demand goods and services; sellers supply goods and services. Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates goods and services. The price is what people pay when they buy a good or service, and what they receive when they sell a good or service.

State the following statement is True or False:
Request of secretary to the bank not to make the payment of cheque is known as stop payment.

business organisation and correspondence functions of commerical banks other services and modern trends in banking sector types of banks diversified banking functions

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

Request of secretary to the bank not to make the payment of cheque is known as stop payment- this is a true statement. This request is made in order to stop the payment of the cheque so that misuse of  the cheque is prevented. This request is to be made by the customer who issued the cheeque.

______________ system allows an accountholder to operate their accounts from any branch.

business organisation and correspondence bank 1 - definition, kinds, functions and importance other services and modern trends in banking sector types of banks diversified banking functions

  1. CBS

  2. CTS

  3. NEFT

  4. RTGS

Show answer
Correct Option: A
Explanation:

CBS system allows an account holder to operate their accounts from any branch. CBS stands for Core Banking Solution. CBS can be defined as a technology platform which helps the customers to access their account from multiple delivery points, which includes different branches of the same bank, ATMs, internet and mobile banking, etc.

Under e-banking, accountholders get unlimited access to their accounts.

business organisation and correspondence bank 1 - definition, kinds, functions and importance other services and modern trends in banking sector types of banks diversified banking functions

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

Under e-banking, account holders get unlimited access to their accounts- this is a true statement. Through e-banking customers can conduct transactions electronically. E-banking is a product designed for the purpose of online banking.

_______ is a statutory corporation wholly owned by the Government of India for the purpose of financing, facilitating and promoting foreign trade of India.

business organisation and correspondence bank 1 - definition, kinds, functions and importance other services and modern trends in banking sector types of banks diversified banking functions

  1. Small Industries Development Bank of India

  2. National Bank for Agricultural and Rural Development

  3. Export Import Bank of India (EXIM Bank)

  4. Industrial Development Bank of India

Show answer
Correct Option: C
Explanation:

Export Import Bank (EXIM Bank) is a statutory corporation wholly owned by the Government of India for the purpose of financing, facilitating and promoting foreign trade of India. Export Import Bank extends lines of credit to overseas governments, other financial institutions in order to finance India's exports to those countries.