Internal Trade Test

Result

Internal Trade Test - 14

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Weekly Quiz Competition

Question 1
1 / -0

Some of the services offered by departmental stores to its customers includes_________________.

A
home delivery of goods

B
execution of telephone orders

C
grant of credit faciities

D
all of the above
Question 2
1 / -0

Which of the following is a characteristic of a mail order house?

A
Huge capital requirement

B
Elimination of middle man

C
Presence of bad debt

D
None of the above

Solution

The term "middleman" describes an intermediary between a producer and an end customer. In a typical distribution channel, the middleman is the wholesaler or the retailer. Manufacturers would eliminate the middleman by selling products directly to retail stores or consumers.
Question 3
1 / -0

How the capital of a cooperative store is raised?

A
Through issue of shares.

B
By inviting subscriptions from the members

C
By raising funds from the general public.

D
All of these

Solution

Directly from members. member contributions with no individual ownership attached, such as service fees. Member share capital represents individual member commitment to the cooperative form of business. It also identifies the individual member's financial stake.
Question 4
1 / -0

Where do cooperative stores purchase their goods?

A
Directly from Wholesalers.

B
From retailers.

C
From manufacturers

D
Both A and C

Solution

A consumers' cooperative is one in which individuals combine their buying power, usually for the purchase and wholesale or retail distribution of agricultural or otherproducts. Cost savings are achieved by buying directly from the producer or farmer.
Question 5
1 / -0

The accounts of cooperative stores are audited for ____________.

A
registrar of companies

B
manager of the store

C
registrar of cooperative societies

D
none of the above

Solution

A co-operative society is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
Question 6
1 / -0

The profits earned by consumer cooperative stores are utilised for ________________.

A
declaring bonus to members.

B
strengthening the general reserve.

C
social and educational benefit of members.

D
all of the above

Solution

Consumer Cooperative Stores. These are retail stores owned by the consumers themselves for their own benefit. These stores are owned and managed by a group of consumers, and their primary aim is not profit making, but mutual benefits for consumers.
Question 7
1 / -0

Why are the prices of goods lower in super markets than in other retail stores?

A
Because of bulk purchasing.

B
Low profit margins.

C
Both A and B

D
None of the above

Solution

A super market is a large retailing business unit selling wide variety of consumer goods on the basis of low margin appeal, wide variety and assortment, self-service and heavy emphasis on merchandising appeal.
The prices of the products are generally lower than other types of retail stores because of bulk purchasing, lower operational cost, and low profit margins.
Question 8
1 / -0

What are the disadvantages that Consumer Cooperative store faces?

A
Lack of patronage.

B
Lack of business training.

C
Shortage of funds

D
All of the above
Solution
Disadvantages are:
Lack of Secrecy: A cooperative society has to submit its annual reports and accounts with the Registrar of Cooperative Societies.
Lack of Business Acumen: The member of cooperative societies generally lack business acumen.
Lack of Interest.
Corruption.
Lack of Mutual Interest.
Question 9
1 / -0

Mention the goods that are traded in Super markets.

A
Groceries

B
Utencils

C
Electronic goods

D
All of the above

Solution

A supermarket is a self-service shop offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market.
Question 10
1 / -0

What are the main advantages of Consumer cooperative stores?

A
Democratic management

B
Ease of information

C
Limited liability

D
All of the above

Solution

A retail store owned and managed by consumer-customers who supply the capital and share in the profits by patronage dividends. These are the stores operated by a farmers' cooperative organization or by a cooperative chain.

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Re-Attempt Weekly Quiz Competition

Internal Trade Test - 14

Result

Internal Trade Test - 14

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Rank

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SHARING IS CARING

Question 1

home delivery of goods

execution of telephone orders

grant of credit faciities

all of the above

Question 2

Huge capital requirement

Elimination of middle man

Presence of bad debt

None of the above

Solution

Question 3

Through issue of shares.

By inviting subscriptions from the members

By raising funds from the general public.

All of these

Solution

Question 4

Directly from Wholesalers.

From retailers.

From manufacturers

Both A and C

Solution

Question 5

registrar of companies

manager of the store

registrar of cooperative societies

none of the above

Solution

Question 6

declaring bonus to members.

strengthening the general reserve.

social and educational benefit of members.

all of the above

Solution

Question 7

Because of bulk purchasing.

Low profit margins.

Both A and B

None of the above

Solution

Question 8

Lack of patronage.

Lack of business training.

Shortage of funds

All of the above

Solution

Question 9

Groceries

Utencils

Electronic goods

All of the above

Solution

Question 10

Democratic management

Ease of information

Limited liability

All of the above

Solution

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