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Mention 2 types of trading concern in which sole proprietorship is feasible.
Single person art studio, a local grocery, or an IT consultation service.
Single person art studio, a local grocery, or an IT consultation service.
See lessWhich company has no restrictions on the transfer of shares?
Public company has no restrictions on the transfer of shares.
Public company has no restrictions on the transfer of shares.
See lessMention 2 necessary conditions that form a Joint Hindu Family business.
At least 2 members in a family Ancestral property to be inherited by him or her
At least 2 members in a family
See lessAncestral property to be inherited by him or her
By whom are the Board of Directors elected in the Joint Stock Company?
The shareholders elect the Board of Directors in the Joint Stock Company.
The shareholders elect the Board of Directors in the Joint Stock Company.
See lessInsurance is known as the tertiary industry. Explain.
Insurance is the support service to both the primary and secondary industries. The tertiary industry is the section of the economy that contributes services to its customers, including a broad array of businesses such as schools, financial institutions and restaurants. It is also called as the tertiRead more
Insurance is the support service to both the primary and secondary industries.
The tertiary industry is the section of the economy that contributes services to its customers, including a broad array of businesses such as schools, financial institutions and restaurants. It is also called as the tertiary sector or service industry/sector.
See lessHow does a trader get rid of the hindrance of a person?
Getting rid of hindrance of a person by making the commodities obtainable to the customers from the manufacturers via trade. Transportation removes hindrance of a location by transporting the commodities from the place of manufacturing to the market place for selling purpose. However, insurance remoRead more
Getting rid of hindrance of a person by making the commodities obtainable to the customers from the manufacturers via trade.
See lessTransportation removes hindrance of a location by transporting the commodities from the place of manufacturing to the market place for selling purpose.
However, insurance removes the hindrance of perils of loss or damage of commodities due to dire, theft and accidents etc.,
Advertising removes the hindrance of the data by keeping the customers informed regarding the commodities and services that are obtainable in the market place.
What is Commerce and its significance in modern life?
Commerce is the control of business among economic agents. Usually, it refers to the exchange of commodities, services or items of value, among companies or entities. The significance of Commerce are: Commerce acts as a catalyst between the manufacturers and customers. It establishes employment oppoRead more
Commerce is the control of business among economic agents. Usually, it refers to the exchange of commodities, services or items of value, among companies or entities.
The significance of Commerce are:
Commerce acts as a catalyst between the manufacturers and customers.
See lessIt establishes employment opportunities.
It encourages trade in the global level.
Assists in the growth of developing the industries.
Helps during exigencies like the natural calamities – earthquake, flood, drought etc.
What are the objectives of the business?
Objectives of business are mentioned below: Innovation: Every business concern must come up with novice ideas, inventions and implement them; which are helpful for survival and growth. Productivity: Productivity is certainly determined by contrasting the value of the output with the value of the inpRead more
Objectives of business are mentioned below:
Innovation: Every business concern must come up with novice ideas, inventions and implement them; which are helpful for survival and growth.
See lessProductivity: Productivity is certainly determined by contrasting the value of the output with the value of the input.
Earning Profits: Any business entity that is operating must earn a reasonable amount of profits in order to sustain survival and growth.
Mention the risks that are involved in the business.
Every aspect has its own risk factors. So does business has too. Namely, Business risks arise due to a few uncertain and unexpected situations It is a quintessential part of any business However, profit is the reward for bearing the risks
Every aspect has its own risk factors. So does business has too. Namely,
Business risks arise due to a few uncertain and unexpected situations
See lessIt is a quintessential part of any business
However, profit is the reward for bearing the risks
What is the reward that a businessman earns for bearing risk?
When a businessman bears the risk, the reward that he’ll get is – earning the profit.
When a businessman bears the risk, the reward that he’ll get is – earning the profit.
See less