Tag: organisation of commerce and management

Questions Related to organisation of commerce and management

It is becoming increasingly common for companies to create joint ventures with other companies and form strategic alliances with them.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

It is becoming increasingly common for companies to create joint ventures with other companies and form strategic alliances with them. The reasons for these alliances may be complementary capabilities and resources such as distribution channels, technology or finance. 

Which of the following are benefits of a joint venture form of company?

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. Increased resources and capacity

  2. Access to new markets and distribution networks

  3. Access to technology

  4. All of the above

Show answer
Correct Option: D
Explanation:

Joint ventures has various benefits. Joining hands with another adds too existing resources and capacity to grow and expand more quickly and efficiently. It also opens up a vast growing market and distribution channels. Advanced technology also adds to the effeciency and effectiveness. 

Which among the following is a competitive advantage that a firm gains through R&D?

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. It is not suitable for small firms.

  2. Increase in man-hours spent.

  3. An idea that rivals cannot be easily replicated.

  4. It is fruitful only in the long run.

Show answer
Correct Option: C
Explanation:

Firms invest in R&D because they want to grow by developing new products. It's hard for a company to remain competitive if it does not stay ahead of the technology curve.The RQ can tell firms (and investors) the increase in revenue and market value they can expect from an increase in R&D spending.

Which of the following can be seen as a part of commercial firm's intellectual property?

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. Scientists employed by an Atomic Research Centre.

  2. Technology breakthrough at a state funded university.

  3. Expenditure on R&D.

  4. A Brand name.

Show answer
Correct Option: D
Explanation:

Brands today are generally recognized as a key asset for creating value for a business. Any “enterprise”, in the wide sense of that term, be it for-profit, not-for-profit, small, medium-sized or large, even a country or geographical region, can develop a brand image. The potential commercial value of a brand cannot be underestimated. The brand is the central nexus of communication between an enterprise and its consumers.

Process innovation refers to __________.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. The development of a new office

  2. The development of a new advertisement

  3. The implementation of a new tool or improved machinery

  4. The development of new products or services

Show answer
Correct Option: C
Explanation:

Process innovation means the implementation of a new or significantly improved production or delivery method (including significant changes in techniques, equipment and/or software.

Process innovation is a new or significantly improved way of doing things in a business that typically increases production levels and decreases costs.Delivery: Delivery process innovations involve tools, techniques, and software solutions to help in supply chain and delivery systems.

Identify the best example of innovator among the following.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. A retail book shop

  2. Textile shop

  3. Smartphone manufacturer

  4. Mining company

Show answer
Correct Option: C
Explanation:

The mobile phone industry is a very innovative segment within the ICT sector and the smartphone is becoming the standard configuration among the different types of mobile devices. Technical change and new product proliferation have made this industry extremely dynamic, even if market shares are highly concentrated in companies. 

Innovation can be best defined as _______________.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. Commercialization of a new product or process

  2. Invention of a new product or process

  3. An idea of a new product or a process

  4. Implementation of a new production method

Show answer
Correct Option: A
Explanation:

The process of translating an idea or invention into a good or service that creates value or for which customers will pay. 

In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.
Innovation generally refers to changing processes or creating more effective processes, products and ideas. For businesses, this could mean implementing new ideas, creating dynamic products or improving your existing services. Innovation can increase the likelihood of your business succeeding.

Which of the following can be regarded as the laws of economics?

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  1. There is a direct proportionate change in the price level with a change in the supply of money.

  2. Prices are determined by total demand and total supply in the market

  3. After a point the marginal increase in output shows a falling tendency with every increase in one or more of the factors of production.

  4. All of the above

Show answer
Correct Option: D
Explanation:

Economics laws are based on various assumptions which are necessary to follow while applying the law is as well as these laws can be applied only is some specific situation with given set of conditions. Moreover,  these economic laws are not rigid statements but their application depends upon the tendency of their implementation. Therefore, all of the above can be regarded as economic laws. 

A bank reconciliation statement is prepared with the balance of __________ .

organisation of commerce and management cash book and bank related transactions objectives and importance of bank reconciliation statement meaning of petty cash book bank balance, bank overdraft, meaning, and bank reconciliation statement

  1. cash book

  2. pass book

  3. either (A) or (B)

  4. neither (A) nor (B)

Show answer
Correct Option: C
Explanation:

To reconcile means to find out the differences if any between two or more things and eliminate it. Now, in case of any banking transactions for each deposit or withdrawal the entry is recorded at two places.

  • The pass book maintained by the bank and
  • The cash book maintained by the account holder.

These two books are opposites of each other which means if one shows credit balance then the other would reflect a debit balance of the exact same amount. But due to reasons like timing differences the balances of both these books do not match. 

So, to reconcile the same a bank reconciliation statement is prepared. The aim while preparing a bank reconciliation statement is to take either pass book or cash book  balance as the starting point, to add or deduct certain entries and reach the balance of the other book ie, if cash book balance is the starting point then after reconciling we should reach at pass book balance.

While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, uncollected cheques are:

organisation of commerce and management cash book and bank related transactions objectives and importance of bank reconciliation statement meaning of petty cash book bank balance, bank overdraft, meaning, and bank reconciliation statement

  1. Added

  2. Subtracted

  3. Not required to be adjusted

  4. None of these

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Correct Option: B