’Endorsement’ or ‘indorsement’ is the act of signing the name of the maker of the holder of a negotiable instrument for the purposes of negotiation. Insurance is a mechanism through which the sufferings of one man is one man is minimized by sharing it with many men. a. 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. E-Commerce Questions and Answers . To know more visit our website Wisdomjobs.com. Question 32. Question 105. The exploitation of any section i.e. 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. The undertaking may be run by one person or association of persons. What do you understand by industry? Question 29. You can answer the GK Questions for fun too. On the other hand there are others who are of the view that a business should earn reasonable profit. A ____ often display summary data such as totals or counts. This industry is engaged in the conversion of raw materials into-semi finished or finished goods. Publish your original essays now. World’s Largest Collection of Essays! What are avoidable questions in an Interview? Which Is The Technique Designed To Create An Artificial Market To Benefit A Businessman? Question 3. Without the help of such agencies, it is not possible to take goods from one place to another so that they may reach the consumers who are spread all over the world. 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. PRINCIPLES OF MANAGEMENT QUESTION AND ANSWERS Management Question and Answers (Phib) INTRODUCTION TO MANAGEMENT 28 Important Short Questions with Answers on “Business Economies” for Commerce Students: 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. consumer, labour, society, etc. 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. Commerce includes several auxiliary services which facilitate exchange of goods and services. What is the role of profit motive in business activities? Privacy Policy3. Book keeping. 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. Question2: Into how many departments is commerce mainly divided into? (free Along Side)? 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. 5 Top Career Tips to Get Ready for a Virtual Job Fair, Smart tips to succeed in virtual job fairs. 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. What Is The Main Distinction Between An Auditor And An Accountant? Question 76. The extractive industry is engaged in raising some form of wealth from the soil, climate, air water or from beneath the surface of the earth. Nov 26, 2020 - E-Commerce - MCQ with answers | EduRev Notes is made by best teachers of Commerce. agriculture and forestry. are called capital. Various business activities are divided into departments, sections and jobs. It also includes all those activities which indirectly help in production and exchange of goods such as transport, insurance, banking and warehousing, etc. Write Wheeler’s view on business. These activities are undertaken with economic motive. These Commerce Quiz objective type questions with answers are very important for competitive exams like CAT, MBA, BBA, UGC, CBSE Net. Question 67. Mining, fishing and hunting is covered in this category. Question 73. External trade generally requires permission from the respective countries. Question3: The trade is sub divided into two divisions, which are they? (cost Insurance Freight)? weaving woollen yarn into cloth. 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An organized market for buying and selling future contracts. They are specialization, correlation and business connection. Most of the goods which are used by consumers are produced by manufacturing industries. Minimum Number Of Persons Who Has To Sign The Memorandum Of Association? ", To avoid this confusion, we've framed Commerce job interview questions and answers to simplify your interview preparation. What do you understand by economic and non-economic activities? Commerce Past Questions Exam Type: All JAMB WAEC NECO Others Exam year: All 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 The distant and remote cause shall be ignored. It is a basic quiz with 75 question in commerce. These solved multiple choice questions are provided by Gkseries. A bill of exchange may be payable sometime in the future. 11. Download the largest collection of free MCQs on Commerce for Competitive Exams. 14. MS ACCESS Objective Questions with Answers. 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. The business is expected to undertake those activities which are essential for the betterment of the society. Question 2. What is meant by a business undertaking? A unit for reckoning investors interests in the contributed capital of a company. According to this doctrine when there are several causes, only the proximate or nearest cause should be considered. The aids to trade include transport, banking, insurance, warehousing, advertisement and salesmanship. When goods are used by other enterprises for further production they are known as “producer’s goods”. How Can Freshers Keep Their Job Search Going? It is the wasteful or uneconomic labour indulged in by a firm to boost cost of production. 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Engineering and contracting firms are organized for undertaking operations of construction industry. Question 88. What Is Sans Frais Endorsement? What Function Of The Computer Ensures That The Data Are Not Distorted During Processing? Question 78. They are mainly engaged in buying and selling fixed assets like land, buildings etc. 7. Name the term which is concerned with the activities involved in the … Question 61. But it doesn’t include charges for putting them on board. How to Convert Your Internship into a Full Time Job? They arrange charter parties, procure cargo etc., on the behalf of their principles. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. It is began to grow only after the division of labour and development of exchange. 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. 251. A foreign bill is one which is drawn in India and made payable in a foreign country or drawn on one who is a resident of a foreign country. Basic General Knowledge Questions and Answers. Write a short note on manufacturing industries. Important accountancy terms ( Debit, credit etc.) The minutes or records of a diplomatic conference; especially a note of agreement on a subsidiary matters which supplements a treaty. In The Charter Of The Company While Choosing A Name Which Word Should Not Be Included? Seven persons in the presence of one witness. 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. This includes the cost of goods plus the freight charges and other expenses for delivering the goods at the importer’s port. Commerce includes legal, economic, political, social, cultural and technological systems that are in operation in any country or internationally. Question 4. The cost of transport, insurance and other expenses should be met by the buyer. Commerce Solved Multiple Choice Questions(MCQs). An organized market for securities. Retail trade involves selling goods to the final consumers. Get the important questions for Commerce (Chapter-wise) with answers for CBSE Class 11 and 12 Accountancy, Economics and Business Studies. Public utility services are undertaken by the Government for the benefits of society, but still they are covered under business. 250+ Commerce Interview Questions and Answers, Question1: What is commerce? What do you mean by extractive industry? Exchange banks extend financial assistance to foreign trade and deal in foreign exchange. 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Does chemistry workout in job interviews? ‘Plant layout’ means the arrangement and location of different departments and of the machinery and equipment within a department. E Commerce multiple choice questions and answers on E-Commerce MCQ questions quiz on E Commerce objectives questions. The money paid to a ship owner for carrying goods by an exporter, A craftsman who, having finished his period of apprenticeship, A document specially produced in large numbers containing a set of questions intended to elicit useful information. Question 45. Also called a ‘stock exchange’. It is entirely different from re-insurance. Business is the sum of activities comprising buying and sellinggoods, manufacturing goods or providing services inorder to make profit. A minimum amount payable, for example, on the lease of mine. An audit may be said to be such an examination of books, accounts and vouchers of a business, whether it is in a proper manner for the financial period. 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