Nature and Purpose of Business Test - 3

A warehouse is a commercial building for storage of goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial areas of cities, towns and villages.

Auxiliaries to trade or aids to trade also provide necessary support to trade. Such as transport, warehousing, banking and finance, and insurance.

Tertiary industries provide services which are auxiliary to trade and ensure the smooth transfer of goods from producer to consumer. Auxiliaries to trade or aids to trade also provide necessary support to trade. Such as transport, warehousing, banking and finance, and insurance.

Advertising is an audio or visual form of marketing communication that employs an openly sponsored, nonpersonal message to promote or sell a product, service or idea.

A business (also known as an enterprise, a company or a firm) is an organizational entity involved in the provision of goods and services to consumers. Keeping busy in the activities earning profit.

Economic activities are related to production, distribution, exchange and consumption of goods and services. Since Business, Profession and Employment are activities carried out to earn one's livelihood, they are all called Economic activities.

Transport or transportation is the movement of humans, animals and goods from one location to another. Communication is simply the act of transferring information from one place to another.

Business objectives are the stated, measurable targets of how to achieve business aims. Investment is one of the features of the business and not the objective.

Human causes are very important causes of business risks. These causes include dishonesty, carelessness and negligence of employs, riots, strikes, etc. Irrational approach of the management or the owners of the business is also a type of human failure which causes business risk.

Auxiliaries to trade or aids to trade also provide necessary support to trade. Such as transport, warehousing, banking and finance, and insurance. Trade, or commerce, involves the transfer of goods or services from one person or entity to another, often in exchange for money.