Tag: warehousing

Quizzes (2) Questions (91)

Questions Related to warehousing

Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

Cold-Storage are found in ______.

  1. Kolkata

  2. Delhi

  3. Mumbai

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Cold storage are used to store perishable goods for a period of time. It is important as it helps to prolong the shelf life of fresh goods. Cold-Storage are found in:
a) Kolkata
b) Delhi
c) Mumbai
Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

How does warehousing help in the widening of the market?

  1. The goods stored are maintained in good condition.

  2. Goods can be transported in bulk.

  3. Processed goods can be packaged.

  4. Goods produced at one place can be supplied at a distant place by storing them in various cities.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Goods produced at one place can be supplied at a distant place by storing them in various cities as because warehousing help in widening of the market. Warehousing can be defined as an act of storing goods which are to be distributed or sold later.

Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

The growth in warehousing in India is primarily being driven by the factors viz __________.

  1. Growing manufacturing activity

  2. Rising domestic consumption

  3. Increasing international trade

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Warehousing can be defined as the process of storing physical goods before the distribution of goods for sale. The growth in warehousing in India is primarily being driven by the factors viz:a) Growing manufacturing activity
b) Rising domestic consumption
c) Increasing international trade.
Multiple choice organization of commerce and management business services importance, types and documentation in warehousing meaning of warehousing and warehousing warehousing

Quotation on GIF basis included _________.

  1. cost of product

  2. expenses incurred on insurance

  3. expenses incurred on freight

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

GIF (Goods Insurance and Freight) is an older term similar to CIF (Cost, Insurance, and Freight). It includes the cost of the product, the insurance premium, and the freight charges for shipping.

Multiple choice organization of commerce and management business services importance, types and documentation in warehousing meaning of warehousing and warehousing warehousing

Central Sales Tax _______________.

  1. Varies

  2. Fixed to 4%

  3. Fixed to 11%

  4. Various from 4% to 10%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Historically, under the Central Sales Tax Act in India, the concessional rate for inter-state sales against Form C was fixed at 4%. While tax laws have evolved, this is the standard textbook answer for this specific historical context.

Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

__________ warehouse divides the the commodities stored into smaller quantities. 

  1. Consolidation

  2. Break the bulk

  3. Stock piling

  4. Price stabilsation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Consolidation: In this function the warehouse receives and consolidates, materials/goods from different production plants and dispatches the same to a particular customer on a single transportation shipment.

Break the bulk: The warehouse performs the function of dividing the bulk quantity of goods received from the production plants into smaller quantities.

Stock piling: Warehousing is used for the seasonal storage of goods to select businesses. Goods or raw materials which are not required immediately for sale or manufacturing are stored in warehouses.

Price stabilization: By adjusting the supply of goods with the demand situation, warehousing performs the function of stabilizing prices.

Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

Which of the following are a type of warehouse?

  1. Private 

  2. Public 

  3. Bonded 

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

Private warehouses are operated, owned or leased by a company handling their own goods, such as retail chain stores or multi-brand multi-product companies.

Public warehouses can be used for storage of goods by traders, manufacturers or any member of the public after the payment of a storage fee or charges.
Bonded warehouses are licensed by the government to accept imported goods prior to payment of tax and customs duty.
Thus, all the three are types of warehouses.

Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

The place where goods are preserved on a large scale in a systematic and orderly manner is commonly called as _____________.

  1. Retail outlet

  2. Factory

  3. Open ground

  4. Warehouse
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The place where goods are preserved on a large scale in a systematic and orderly manner is commonly called as warehouse. Goods are stored in warehouse generally before th delivery or sale of the goods. Warehouse helps to protect the perishable goods.

Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

Which among the following gives an idea that the goods preserved are perishable?

  1. Cold storage helps to maintain the quality of goods.

  2. It helps to widen the market.

  3. It saves time by providing the goods as and when required.

  4. Processed goods can be graded, packed, and labeled.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cold storage helps to maintain the quality of goods gives an idea that the goods preserved are perishable. Cold storage is useful as it helps to store perishable goods for a period of time. Cold storage is crucial as it helps to prolong thhe shelf life of fresh goods.

Multiple choice organization of commerce and management warehousing importance, types and documentation in warehousing meaning of warehousing and warehousing introduction to services

Goods once cleared from Bonded warehouse can be shifted to Duty-paid warehouse.

  1. True

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

Bonded warehouses are licensed by the government to accept imported goods prior to payment of tax and customs duty. 

The goods are kept in bonded warehouses by the customs authorities till the customs duty is paid. 
Goods can be removed in part as and when required by the importers and buyers, and import duty can be paid in installments.