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Principles Of commerce MCQs  Click to attempt Test  https://forms.gle/anx9WMRMYieesdpT8  

                           Complete Banking Notes     Q10) What are the Methods of Foreign Remittance / Tools . Ans. The following methods of foreign remittance are given below. 1. Bank draft. 2. Telegraphic transfer. 3. Bill of exchange. 4. Postal Order.   1. Bank draft. A draft is a cheque drawn by one branch of a bank upon another situated at any other place required to pay a fixed / certain amount of money to a specified person or by his order. A bank draft may either by inland or foreign. Drafts are issued by bankers after receiving written and signed applications. The person is required to remit the required amount of money along with its commission. The banker hands over the draft to the depositors and sends a credit advice to the branch upon which the draft is drawn. 2. Telegraphic transfer. A telegraphic transfer (TT) is an electronic method of transferring funds utilized primarily for overseas wire transactions. These transfers are used most commonly in re

                BANKING MCQS TEST        I.         A commercial bank keeps less reserve if          * Cheque is used in most of the transaction             * Clearing house facility is available             * Rediscounting facility is available                           * all of these     II.         An endorsement is said to be Restrictive endorsement, if the endorser          * signs his name only                                               * adds a direction to pay the amount              * Restricts or excludes further negotiation              * None of these    III.         Stale cheque is              *       Older than six months                                     *    Older than three months              *       Older than one month                                     *    None of these   IV.         Parties to cheque are               * 3                            *  5                               *   9                                    * 8     V.

 ECNOMICS MCQS TEST        i.         The Quantity of good which is offered for sale at a given price is called              *  Supply            * Demand           *  Stock             *   Goods        ii.         Law of diminishing marginal utility is also called           *Gossen’s first law         * Gossen’s second law                  * Law of rational behavior         * None of these       iii.         Same price more demand means       *Rise in demand      *Expansion in demand         *Contraction in demand     *None of these      iv.         This is the only factor of production whose supply remains fixed             * Labor       * Land           * Capital         * Organization        v.         According to classical school of thought Economics is the science of :            * Wealth         *   Welfare          *Scare resources          *Economic development      vi.         Human wants are :             * Limited       *  Unlimited           

 Principles Of  Commerce  Solved Guess paper 2021 Q) Define commerce/ business , Trade , Profession and industry .                                                             Commerce/Business Definitions: According to STRAUB and ATTNER        “A business is an organization engaged in producing goods and services to make a profit”     According to THOMAS EVELYN       “A business embraces all those functions involved in making, buying and transportation of goods”   Trade Definition: Trade refers to the exchange of goods only. It involves buying and selling. Classification: Trade is a branch of commerce. Scope:                            It is a narrower term, as it is a branch of the commerce. Industry Definition: Industry involves the production of goods and materials. Classification: A)    By size               B) By production process A) BY SIZE 1. Heavy industries: These industries produce heavy industrial goods and machineries like, steel a