To avoid this confusion, we've framed Commerce job interview questions and answers to simplify your interview preparation. In The Name Of A Company Which Word Should Be Used At The End? What Is Loco Or Ex-factory? It gives the total picture of business at the point of time. Controlling b. Connectivity c. Communication d. Customer 3. 253. 5. Question 140. Thus industry imparts utility to goods. Managing Director or General Manager of a company. So let us answer the following science quiz. The profit motive is an important element of business. An organized market for securities. The construction industry is engaged in the creation of infrastructure for smooth development of the economy. In the processing of crude oil we will get kerosene, petrol, gas and diesel, etc. Question 134. Into How Many Departments Is Commerce Mainly Divided Into? It is began to grow only after the division of labour and development of exchange. Question 42. Who Are Entitled To Take Part In The Control And Management Of Business In A Company? How Can Freshers Keep Their Job Search Going? Question 137. They are mainly engaged in buying and selling fixed assets like land, buildings etc. These extra days allowed for the payment of a bill is called the ‘Days of Grace’. The finished product of one process becomes the raw material of the receiving process and soon the final process produces the finished goods. Question 51. A person chosen by the parties to a dispute to suggest a way of settling the dispute, The tangible resources of a person or organization, including cash, machinery, land, building, raw material etc. It refers to funds that move quickly from one country to another in search of the highest rate of interest. Question 62. Question 133. Question 21. What Is Qualitative Credit Control? The incentive of earning profits keeps a person in business and is also necessary for the continuity of the business. Profit earning is one of the important objectives of business No business can exist for long if it does not earn profits. Question 83. 14. Commerce Questions with Answers (700 Objective Questions) ExamGuru 11:56 AM Commerce Multiple Choice Questions and Answers with PDF : Commerce MCQ questions give a wide range of accounting, economics, taxation and other basic questions and answers related to the commerce topic with a simple and logical explanation. Which Are The Main Principles In Allocation Of Office Work? These Commerce Quiz objective type questions with answers are very important for competitive exams like CAT, MBA, BBA, UGC, CBSE Net. These questions cover the entire chapter and help students get to the root of each topic and understand each sub-topic thoroughly. The purchase and sale of goods inside the country is called internal trade. Dear Readers, Welcome to Marketing Interview questions with answers and explanation. It is a method adopted by the government or a company of supporting a price. Question 78. This helps the producers in making bulk production and selling in large quantities to traders. 1. The principle of V.A.T. Brokers acts as intermediaries between two parties, in trade contracts. In a facultative endorsement, the endorser waives some of his rights, like the right to receive notice of dishonor. Science is also very important from an exam point of view. 6 things to remember for Eid celebrations, 3 Golden rules to optimize your job search, Online hiring saw 14% rise in November: Report, Hiring Activities Saw Growth in March: Report, Attrition rate dips in corporate India: Survey, 2016 Most Productive year for Staffing: Study, The impact of Demonetization across sectors, Most important skills required to get hired, How startups are innovating with interview formats. These industries are classified into two categories: In the first category, workers merely collect goods already existing. Question 77. Who First Suggested The Separation Of Manual Work From Mental Labour Through The Establishment Of Two Department? Social responsibility of a business is the obligation of the business to pursue those policies, to make those decisions as to follow those lines of action which are desirable in terms of the objectives and values of our society. are called capital. Define internal trade. 15. ... What are the basic applications of Internet? A commonly which can be sold, produced in the process of manufacturing the main product. Discuss social responsibility of the business. A wholesaler does not come into direct contact with the consumer. Page 6 Which Is The Basic Document Of A Company? Time lost through no fault of the employee and for which he is usually paid at the full rate, A diagram of a sequence of decisions, each of which involves choosing between a known number of alternatives and depends on the resultants of the previous decisions. for the sake of increasing profits is unjustified. What Is The Term Ad Referendum Means? 13. The responsibility of the business is to understand the needs and requirements of the society and then direct its energies to fulfil them Business should not undertake anything which is against the interests of society. Exchange banks extend financial assistance to foreign trade and deal in foreign exchange. This industry is engaged in the conversion of raw materials into-semi finished or finished goods. These industries are engaged in the construction of buildings, roads, dams, bridges and canals. Our mission is to provide an online platform to help students to discuss anything and everything about Essay. Question 132. Business is the sum of activities comprising buying and sellinggoods, manufacturing goods or providing services inorder to make profit. It is that constituent of production which is involved in changing the form of a good at any stage from raw material to the finished product e.g. Question 88. Question 84. What Is The Term Used With Particular Reference To Bills Of Exchange? This date id called the ‘due date’ or the ‘maturity date’ of the bill. When trade takes place between two countries, it is called foreign trade. 10. Commerce interview interview questions & answers with explanation for Accountancy, CA, CS, economics, ICWA, management etc. According to Prof: John pagets “no one or nobody corporate or otherwise can be a banker who does not open current accounts; pay cheques drawn on himself and collect cheques for customers”. When Did The Government Institute The Companies Amendment Act? They are engaged in the purchase and sale of shares and other securities, of companies as well as Government securities on a stock exchange. is that tax is levied at each stage of the production of goods or services and on the value added at each stage of the production, It is the statistics concerned with births, deaths, ages, health, marriages, diseases etc…, A gift given especially of a small sum of money given in response to ther service received or anticipated. There are numerous leading companies that offer various job positions in Commerce like Solution Architect manager into E-commerce, Production Support Engineer, Business Development Executive, Office Administrator, Demandware/ Salesforce Commerce Cloud consultant and many more. What is E-marketplace and explain different functions of E-marketplaces? A business has the following economics objectives: 11. What Is The Name Of Entry Which Is Used In Bank Column Cash Book To Record The Money Transaction? These 40 solved Marketing questions will help you prepare for personal interviews and online selection tests during campus placement for freshers and job interviews for professionals. Which Is The Technique Designed To Create An Artificial Market To Benefit A Businessman? Question 57. A proper organization is helpful in the smooth running of the business and helps to achieve its objectives. Question 50. What Is The Stock Exchange Functioning In Kerala Called? Industry is concerned with the making or manufacturing of goods. Are you in search of Commerce Jobs? Group Header b. The distant and remote cause shall be ignored. Genetic industry is related to the re-producing and multiplying of certain species of animals and plants with the object of earning profits from their sale. Manufacturing industries which may be classified as follows: In this industry, any product is analysed and many products are received as final products. Question 118. Mining, fishing and hunting is covered in this category. A bill of exchange may be payable sometime in the future. It is an endorsement where the endorser specifies that the endorsee or any subsequent holder need not incur any expense on the instrument on his account. The minutes or records of a diplomatic conference; especially a note of agreement on a subsidiary matters which supplements a treaty. What Is The Term Used With Reference To Assurance Policies? These are very important and latest Basic General Knowledge Questions for all competitive examinations. In this industry a product passes through various processes to become a final product. Question 110. E Commerce multiple choice questions and answers on E-Commerce MCQ questions quiz on E Commerce objectives questions. Commerce includes legal, economic, political, social, cultural and technological systems that are in operation in any country or internationally. Also called a ‘stock exchange’. Important accountancy terms ( Debit, credit etc.) On the other hand when goods are sold and sent out to the other countries, it is called export trade. MS ACCESS Objective Questions with Answers. It is the price of a share commodity as stated in the official list of the stock exchange commodity market. The board of directors elected by the shareholders. Commerce is "related to the exchange of goods and services, especially on a large scale." Which type of activities can be included under business activities? Open market operations imply the purchase and sale of government securities by the Central Bank in the open market. Expert Teachers at has created Karnataka 1st PUC Basic Maths Question Bank with Answers Solutions, Notes, Guide Pdf Free Download of 1st PUC Basic Maths Textbook Questions and Answers, Model Question Papers with Answers, Study Material 2020-21 in English Medium and Kannada Medium are part of 1st PUC Question Bank with Answers. According to Wheeler, business is “an institution organized and operated to provide goods and services to the society under the incentive of private gain.” Wheeler considers ‘private gain’ as the primary motivating factor. Question 73. Commerce MCQ Questions These Commerce Multiple Choice Questions with answers pdf offers a wide range of accounting, economics, taxation, and other basic questions and answers related to the commerce topic with a simple and logical explanation. The cost of transport, insurance and other expenses should be met by the buyer. Most of the goods which are used by consumers are produced by manufacturing industries. Which Is A Document Containing A Rules And Regulations For The Internal Management Of The Company? These auxiliary services are as follows: Welcome to! Question 53. The person why is so represented by an agent is called the principle. A person who promises that if a second fails to fulfill some obligation, then he will fulfill it instead or pay money upto a specified limit to compensate for any loss caused by the second person’s failure. Question 74. Top 10 facts why you need a cover letter? This includes the cost of goods plus the freight charges and other expenses for delivering the goods at the importer’s port. Basic science is the study of the fundamental concepts of science that are related to everyday life.This section has many concepts that you may have thought about in your daily life. Nurseries, cattle breeding, fish, hatcheries, poultry farms are all covered under genetic industry. Question 69. 15 signs your job interview is going horribly, Time to Expand NBFCs: Rise in Demand for Talent, the public corporations that run nationalized industries. Question 59. A extensive negotiations of multilateral tariff agreements, within the limits set by the General Agreement on Tariffs and Trade, investigated by the late American President Kennedy. What is the role of profit motive in business activities? Seven persons in the presence of one witness. A recurring sequence of changes business activity. 251. Question 25. 10. It is the duty of the auditor to prepare the accounts, The accounts has to be prepared by the accountant where as the auditor is concerned with the detailed and critical examination of the account book. Question 6. A large quantity of securities held by some one who is able to sell to any one who wants to buy is called a tap. What Is Open Market Operation? Once it started growing, it spread its invisible thread throughout the length and breadth of the world. Which Is The Most Important Clauses Of The Memorandum? The quality of entrepreneurship existing in any region determines to large extent the development of that region. A minimum amount payable, for example, on the lease of mine. What Is Gross National Product (g.n.p)? So, practice with this extensive collection of Basic GK Questions and Answers. Question5: Which are the two divisions of Whole sale? What economic objectives does a business have? The examples of this category are—plastics, rubber, aluminium, etc. It’s about changing the way you attract and sell to customers, and a lot of times that can seem a little daunting. Question 32. What Is Facultative Endorsement? 20. In this industry many raw materials are brought together in manufacturing process to make a final product Soap making, plastics, paints are other examples of synthetic industry. Classify trade. weaving woollen yarn into cloth. Question2: Into how many departments is commerce mainly divided into? 11. Commerce Questions and Answers – GK Questions. 17 Important Measures for the Safety of Gas and Vacuum Supply Service in Hospitals, Useful Notes on the Importance of Time Element in the Theory of Price by Marshall, Commerce Question Bank – 27 Short Questions With Answers on “Financial Management”, Essay on Leadership: Introduction, Functions, Types, Features and Importance. eCommerce MCQ is important for exams like Campus interview, IT department exam. What’s an ERP? Solved examples with detailed answer description, explanation are given and it would be easy to understand What Is The Minimum Number Of Members In A Public Company? A group of people working together towards a common objective usually profit is called a syndicate. How are the goods produced by an industry classified? What Is A Person Or Party To Whom An Assignment Is Made Called? Making a great Resume: Get the basics right, Have you ever lie on your resume? In The Aspect Of Banking Business What Is The Term Used Of Giving Loans To Companies On A Large Scale? 3. Nature, climate and environment play an important role in these industries but human skill is also important. It is a court order attaching the funds of the judgement debtor in the hands of a third party in favour of the judgement-creditor. What are human objectives of a business? Write a short note on manufacturing industries. Bill drawn and made payable in India as well as bill drawn upon a person residing in India is called an Inland Bill. Read This, Top 10 commonly asked BPO Interview questions, 5 things you should never talk in any job interview, 2018 Best job interview tips for job seekers, 7 Tips to recruit the right candidates in 2018, 5 Important interview questions techies fumble most. if you feel it is helpful to you, please write your comments to improve our next presentation. The channel which helps the exchange of goods is called trade. Minimum Number Of Persons Who Has To Sign The Memorandum Of Association? agriculture and forestry. A unit for reckoning investors interests in the contributed capital of a company. It is an arrangement between two persons under which one agrees to meet some of the other’s financial obligations on condition that the later reimburses him. Then you are at the right place. What Is F.o.b (free On Board)? Any report, including a basic report, can be modified in __. Commerce can be classified into two categories. Question 40. PRINCIPLES OF MANAGEMENT QUESTION AND ANSWERS Management Question and Answers (Phib) INTRODUCTION TO MANAGEMENT Commerce is concerned with the exchange of goods. 1. 28. A bill is said to be matured on the date which it falls due for payment. Social objectives of a business are as follows. This includes the cost of goods, insurance, freight and all charges upto to the port of import. In how many categories can commerce be classified? Question 68. Question 52. All rights reserved © 2020 Wisdom IT Services India Pvt. The Basic Steps Involved In Becoming Commerce Enabled Are: Answer : 1. That’s why we’ve compiled 6 basic questions and answers for anyone considering starting their journey with B2B e-commerce and digital transformation. A bill falls due only on the third day after the day on which it is stated to be payable. It is the statement of account which is prepared at the end of every financial year. A retailer purchases goods from a wholesaler and sells them to the consumers. It is a basic quiz with 75 question in commerce. Question 87. To know more visit our website, Account Based Marketing Interview Questions, Accounting Principles Interview Questions, Business process outsourcing (BPO) Interview Questions, Business process outsourcing (BPO) Practice Tests, Business administration Interview questions, Cheque Truncation System Interview Questions, Principles Of Service Marketing Management, Business Management For Financial Advisers, Challenge of Resume Preparation for Freshers, Have a Short and Attention Grabbing Resume. A business man tries to earn more and more profits but out of his business activities. Name The Brand Mark Which Has Legal Restrictions? Give Another Name For Parent Company? In Which Form The Co-operative Society, Distributes Its Surplus Dividends To Its Members? What Is Causa Proxima (proximate Cause)? What Is F.a.s. What Is Sans Frais Endorsement? Business ownership has three kinds (i) Public enterprises (ii) Private enterprises (iii) Joint enterprises. All these activities create utilities. This means the price quoted includes cost of goods plus a nominal profit. The human objectives of a business are as follows: 12. What do you understand by industry? This includes all expenses like packing charges, delivery of goods to the side of the ship etc. The produce cannot come into direct contact with consumers, so there should be some channel which will facilitate the transmission of goods from the producers to the consumers. Question 9. The person who recognizes the need for a product or service is known as entrepreneur The entrepreneur is a key figure in the process of economic growth. Normally people are of the view that a business’ main aim is to earn profits and as such it should try to earn as much as it can. An enterprise may produce materials which will be further processed by yet another concern which converts them into finished goods. Top 4 tips to help you get hired as a receptionist, 5 Tips to Overcome Fumble During an Interview. The element of profit which is prevalent in economic activities distinguishes them from non-economic activities. Agent appointed to sell a car by its owner. Ownership of a business refers to the person who owns a particular business or to whom the business belongs. They arrange charter parties, procure cargo etc., on the behalf of their principles. 252. Write down the social objectives of a business. Commerce Solved Multiple Choice Questions(MCQs). Question 47. Basic Commerce / Accounting Question in Interview.

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