Bihar Board Class 12 (Commerce) Internal Trade — practice questions
69 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice Bihar Board Class 12 (Commerce) Internal Trade in the app →Buying and selling of goods within the boundaries of a nation is calledWhich levy is not charged on goods moved in internal trade?Internal trade is broadly divided into which two categories?Purchase and sale of goods in large quantities for resale is calledWhich trade involves sale in small quantities to ultimate consumers?Wholesalers serve as an important link between which two parties?A wholesaler buys in bulk and sells in small lots to whom?How do wholesalers enable producers to gain economies of scale?Which risk does a wholesaler take over from the manufacturer?How do wholesalers give financial help to manufacturers?Wholesalers advise manufacturers mainly aboutHow do wholesalers help production continue throughout the year?Storing goods in warehouses until they are needed creates which utility?Retailers making goods available to scattered consumers provideWhat is a retailer relieved of when a wholesaler supplies goods?Credit from wholesalers lets retailers run with a small amount ofWhich retailer risk is reduced by buying small lots from a wholesaler?Wholesalers may advise retailers about shelf space andWhich business sells goods directly to the ultimate consumers?A farmer sells vegetables by the roadside to households. This isWhy do retailers collect useful market information?What is the retailer's most important service to consumers?Which after-sales service do retailers commonly offer?Retailers split into itinerant and fixed shop on the basis ofWhich retailers have no fixed place of business?Peddlers and hawkers typically deal in which kind of goods?Which small retailers open shops on fixed days such as every Saturday?Street traders (pavement vendors) usually gather nearPetty retailers with temporary shops who also repair watches and shoes areWhich retailers maintain a permanent establishment to sell goods?Fixed shop retailers are often trusted more because they offerGeneral stores mainly stockA shop selling only children's garments is an example of aWhere do street stall holders mostly set up?Second-hand goods shops mostly serve persons whoA large store with many departments under one roof is aWhich two departmental stores are named as Indian examples?A departmental store is generally organised as aNetworks of similar shops run by one organisation are calledChain stores generally sell goods atWhere are chain store branches usually located?Branch managers in chain stores often lackWhich store is located centrally to attract many customers?Retail outlets selling through post and advertisements areUnder VPP, the goods are delivered to the customer onlyWhich goods are unsuitable for mail order trading?At least how many people are needed to start a consumer cooperative store?How are votes counted in a consumer cooperative store?The accounts of a cooperative store are audited byConsumer cooperative stores charge lower prices because theyA large self-service store selling many consumer goods is aSuper markets sell goods on what basis?Compared with departmental stores, super markets do not offerWhich machines sell pre-packed, uniform, low-priced goods automatically?In trade, COD means payment is madeThe price that includes cost, insurance and freight to port is calledOn what date was GST implemented in India?GST is best described as aGST is payable on intra-state supply asWhich tax is paid on inter-state supply of goods and services?Which set lists the four GST slabs?Who chairs the GST Council?Decisions in the GST Council are taken by what majority?How are exports treated under GST?Input tax credit under GST helps avoidWhich body checks that GST cost benefits reach consumers?Which of these is a national trade association of Indian business?Octroi and local levies are an important source of revenue forThe Value Added Tax was levied in place of