05-26-2006, 03:06 PM
INTRODUCTION TO BUSINESS
IMPORTANT SHORT QUESTIONS
PREPARED BY NAHID AKHTAR
Q.1 WHAT IS ENDOWMENT POLICY?
This policy is for a fixed period. The policyholder pay premium up to a fixed period. The sum assured becomes payable after a specified number of years or on the death of assured, whichever is earlier.
Q.2 WHAT IS SURRENDER VALUE?
If a policyholder decieded to surrender his policy or discontinue it before its maturity, the insurer pays the surrender value. Surrender value is calculated on the basis of the premium paid.
Q.3 E-COMMERCE?
E-commerce basically refers to the buying and selling of products and services electronically. This can be done through Internet, which presents goods and services to customer in the world via web site.
Q.4 WHAT IS BILL OF LADING?
It is a very important document. It shows that the goods are loaded on the ship. It is just like railway receipt. It contains name of shipper, name of ship, quantity of goods, packing and marks, name of the importer, name of the importing seaport and freight.
Q.5 WHAT IS MATE, S RECEIPT?
This is a receipt given by the captain of the ship to the dock authorities. The captain admits the goods have been loaded on the ship.
Q.6 WHAT IS INDENT?
It is an order sent for importing goods from foreign countries. It is sent to producers. The order for importing goods through the export agent is called indent. It contains information about quality, display, packing, marking, price, dispatch, insurance, payment, arbitration etc.
Q.7 WHAT DO U MEAN BY MARKET MIX?
The market mix mean is a sales promotion Programme in order to meat the customerâs needs. It is a mixture of product, price, promotion and physical distribution (place). The sales promotion Programme can be started at any time during the year.
Q.8 DEFINES CARTEL?
A cartel is defined asâ a voluntary agreement between independent business units doing similar type of business to secure a monopoly of the marketâ.
Q.9 WHAT IS RESOLUTIONS?
The agenda is presented before the members in the meeting to discuss and make decision. Each matter is discussed, debated and finally put to vote. If it is carried by the requisite majority, it becomes the resolution of the meeting on that particular matter.
Q.10 WHAT IS DEBENTURES?
The debentures are issued by the companies to secure loan. In simple words, debenture is a written letter of acceptance issued for securing loan by the company in which interest, surety and conditions regarding return of loan are recorded.
Q.11 WHAT IS BROKERAGE?
A brokerage is a fee given to a person who sells shares or debentures on behalf of the company. This is paid to the brokers and bankers who sell the shares of the company.
Q.12 WHAT IS STATEMENT IN LIEU OF PROSPECTUS?
A public company need not necessarily go to the public for money. The promoters may raise the necessary capital through private contracts. In such a case there is no need of issuing prospectus to yhe public. The promoters are required to prepare a document called statement in lieu of prospectus and file the same with the registrar.
Q.13 DEFINES PROMOTER?
The term promoter has not been defined by law. The person who does the preliminary work for the formation of the company is called promoter. Actually a person who gives instruction for the preparation and registration of the memorandum and article of association is a promoter.
Q.14 DEFINES COMMON SEAL OF COMPANY?
A seal is a tool used as substitute of signature. As company is an artificial person, so it cannot sign on a contract. It works with the help of seal. All the contract are made by the director for a company. The directors use the seal on all documents on behalf of a company.
Q.15 DEFINES LIFE INSURANCE?
It is a contract in which the insurer, against a premium, undertakes to pay a certain amount on the death of the insured or on the expiry of a certain number of years.
IMPORTANT SHORT QUESTIONS
PREPARED BY NAHID AKHTAR
Q.1 WHAT IS ENDOWMENT POLICY?
This policy is for a fixed period. The policyholder pay premium up to a fixed period. The sum assured becomes payable after a specified number of years or on the death of assured, whichever is earlier.
Q.2 WHAT IS SURRENDER VALUE?
If a policyholder decieded to surrender his policy or discontinue it before its maturity, the insurer pays the surrender value. Surrender value is calculated on the basis of the premium paid.
Q.3 E-COMMERCE?
E-commerce basically refers to the buying and selling of products and services electronically. This can be done through Internet, which presents goods and services to customer in the world via web site.
Q.4 WHAT IS BILL OF LADING?
It is a very important document. It shows that the goods are loaded on the ship. It is just like railway receipt. It contains name of shipper, name of ship, quantity of goods, packing and marks, name of the importer, name of the importing seaport and freight.
Q.5 WHAT IS MATE, S RECEIPT?
This is a receipt given by the captain of the ship to the dock authorities. The captain admits the goods have been loaded on the ship.
Q.6 WHAT IS INDENT?
It is an order sent for importing goods from foreign countries. It is sent to producers. The order for importing goods through the export agent is called indent. It contains information about quality, display, packing, marking, price, dispatch, insurance, payment, arbitration etc.
Q.7 WHAT DO U MEAN BY MARKET MIX?
The market mix mean is a sales promotion Programme in order to meat the customerâs needs. It is a mixture of product, price, promotion and physical distribution (place). The sales promotion Programme can be started at any time during the year.
Q.8 DEFINES CARTEL?
A cartel is defined asâ a voluntary agreement between independent business units doing similar type of business to secure a monopoly of the marketâ.
Q.9 WHAT IS RESOLUTIONS?
The agenda is presented before the members in the meeting to discuss and make decision. Each matter is discussed, debated and finally put to vote. If it is carried by the requisite majority, it becomes the resolution of the meeting on that particular matter.
Q.10 WHAT IS DEBENTURES?
The debentures are issued by the companies to secure loan. In simple words, debenture is a written letter of acceptance issued for securing loan by the company in which interest, surety and conditions regarding return of loan are recorded.
Q.11 WHAT IS BROKERAGE?
A brokerage is a fee given to a person who sells shares or debentures on behalf of the company. This is paid to the brokers and bankers who sell the shares of the company.
Q.12 WHAT IS STATEMENT IN LIEU OF PROSPECTUS?
A public company need not necessarily go to the public for money. The promoters may raise the necessary capital through private contracts. In such a case there is no need of issuing prospectus to yhe public. The promoters are required to prepare a document called statement in lieu of prospectus and file the same with the registrar.
Q.13 DEFINES PROMOTER?
The term promoter has not been defined by law. The person who does the preliminary work for the formation of the company is called promoter. Actually a person who gives instruction for the preparation and registration of the memorandum and article of association is a promoter.
Q.14 DEFINES COMMON SEAL OF COMPANY?
A seal is a tool used as substitute of signature. As company is an artificial person, so it cannot sign on a contract. It works with the help of seal. All the contract are made by the director for a company. The directors use the seal on all documents on behalf of a company.
Q.15 DEFINES LIFE INSURANCE?
It is a contract in which the insurer, against a premium, undertakes to pay a certain amount on the death of the insured or on the expiry of a certain number of years.
