Tag: classification of business

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Multiple choice organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

Capital rationing is applied in a situation where ________________________.

  1. It is difficult to bring in required amount of capital

  2. Financial institutions are doubtful or not sure of the viability of the project

  3. A large number of investment proposals compete for limited funds

  4. The dividend is converted into capital for completion of a new project
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Capital rationing occurs when a firm has more profitable investment opportunities than it has capital available to fund them, forcing it to choose only a subset of projects.

Multiple choice organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

The profession of a secretary is one of the oldest professions in the world.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The profession of a secretary is one of the oldest profession in the world. In ancient times important persons like Kings, Emperors, Businessmen etc. appoint the secretary to carry out their routine work like letter writing and keeping records of important events, matters etc. In addition to this certain confidential duties also were assigned to him.

(i) The term secretary is derived from the Latin word `Secretarius' which means a confidential writer. 
(ii) In the old Roman empire a secretary was called `Scribae' which means professional letter writer. 
(iii) In ancient Indian literature and historical documents the words like 'Amatya!, `Sachiva' and 'Chitnis' were used for a secretary. 
(iv) In ancient times, important persons like kings, emperors, businessmen, etc. appointed Vazirs to carry out their routine work like letter writing and keeping records of important events, matters and confidential matters. 
(v) It is as old as the human civilization. 
(vi) Thus, the profession of a secretary is one of the oldest professions in the world. 

Multiple choice organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

A person who does writing work for his boss is a ____________.

  1. secretary

  2. board of directors

  3. managing committee

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

The term secretary means a person who writes secret on behalf of his superior or for his/her boss.

Multiple choice organisation of commerce and management introduction to commerce and business characteristics of vocational activities basis of classification of business activities classification of business

The time limit beyond which if goods are not returned, the capital goods sent for job work shall be treated as supply

  1. One year

  2. Five years

  3. Three Years

  4. Seven years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Under GST regulations in India, capital goods sent for job work must be returned within 3 years, otherwise, the transaction is deemed a supply.