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Internal Trade Test - 7

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Internal Trade Test - 7
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Goods are kept on racks with clearly labelled price and quality tags in such stores. This is a feature of which of the following store?
    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 2
    1 / -0
    The wholesalers facilitate ____ of production activity throughout the year by purchasing the goods as and when these are produced.
    Solution
    Wholesaling, jobbing, or distributing is the sale of goods or merchandise to retailers; to industrial, commercial, institutional, or other professional business users; or to other wholesalers and related subordinated services. In general, it is the sale of goods to anyone other than a standard consumer.
  • Question 3
    1 / -0
    _______ can be useful for selling pre-packed brands of low priced products which have high turnover and which are uniform in size and weight.
    Solution
    A vending machine is an automated machine that provides items to consumers after money, specially designed card is inserted into the machine.The first modern vending machines were developed in England in the early 1880s and dispensed. Vending machines exist in many countries, and in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created and provided to consumers.
  • Question 4
    1 / -0
    The ________  may raise costs in super markets.
    Solution
    One of the most basic reasons companies raise prices on their products and services is to adjust to increased business costs. A product reseller, for instance, might raise prices simply because its supplier raised prices on materials or finished goods.
  • Question 5
    1 / -0
    Operating costs of running a supermarket is less because of which of the following factors?
    Solution

    A supermarket - Offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier  but is smaller and more limited in the range of merchandise .

    The supermarket typically has aisles for meat, fresh dairy, and baked goods. Shelf space is also reserved for canned and packaged goods and for various non-food items such as kitchenware, household cleaners, pharmacy products and pet supplies. Some supermarkets also sell other household products that are consumed regularly, such as alcohol (where permitted), medicine, and some sell a much wider range of non-food products: DVDs, sporting equipment, board games, and seasonal items (e.g., Christmas wrapping paper in December).

  • Question 6
    1 / -0
    Under Mail Order House, for obtaining orders, potential customers are approached through _________.
    Solution
    A mail-order house is a company that sells or manages mail-order advertising or a mail-order business. A company that creates letters to send out to customers encouraging them to buy something via the mail is an example of a mail-order house.
  • Question 7
    1 / -0
    What is/are the condition for availing ITC on the tax element involved in the stock held by a composition dealer under earlier law, if such dealer opts normal tax remittance in GST?
    1. Such stock should be taxable u
  • Question 8
    1 / -0
    _____________ retail business acts as a universal supplier of a wide variety of products.
    Solution
    A departmental store is a large retail showroom having several departments under one roof, each department specializing in one line of products. Each of the departments is like a separate shop with centralized purchasing, selling, and accounting.
  • Question 9
    1 / -0
    Bata is an example of a ___________.
    Solution
    Multiple shops/Chain stores refer to several identical retail shops located in different parts of the city. These shops are owned and controlled by a single organization. These may be established by manufacturers or traders. 
  • Question 10
    1 / -0
    Round the clock purchasing is possible at _________.
    Solution
    A vending machine is a new form of direct retailing. It is a machine operated by coins or tokens. The buyer inserts a coin or token in the machine and receives a specific quantity of a product. It operates 24x7, so round clock purchasing is possible in the case of a vending machine.
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