Internal Trade — Business Studies STD 11 Commerce — Question

State the various types of organizations in the private sector.

Geeta Pustak Bhandar sells only religious books. But all kinds of books are available at 'Kapoor Pustak Bhandar'. Both of them are examples of Small Scale Retail Trade. Even then the nature of their trades is different from each other. Identify the nature of the difference between the trades of both of them and explain it.

Cochin Shipyard Ltd. (CSL) is one of the leading shipbuilding and repair yard in India, which has an infrastructure that combines economy, scale, and flexibility, and has ISO 9001 accreditation. The government owns 75% stake in Cochin Shipyard. CSL also has an exclusive area set for offshore construction and future expansion. CSL has been rated excellent by the Government of India, four times in a row for achieving the targets set for the yard under the MOU system With specialised industry knowledge and superior resources, CSL has constantly unfolded new levels of excellence in shipbuilding and ship repair. As a technology leader in India, CSL has adopted the Japanese Integrated Hull Outfitting and Painting System (IHOP) for its new construction, which gives a clear edge to CSL in the field of fabrication of commissioning of accommodation modules and topside modification.

On the basis of the given information about CSL, answer the following questions:

(a) How will you classify Cochin Shipyard Ltd. (CSL) as a form of public sector enterprise?

(b) State any three advantages of the type of public sector enterprise identified in part (a).

The Food Corporation of India (FCI) was set up on 14 January 1965 having its first District Office at Thanjavur - rice bowl of Tamil Nadu and headquarters at Chennai (The Headquarters later shifted to Delhi) under the Food Corporations Act 1964. The Food Corporation of India (FCI) implemented the objectives of the effective price support operations for safeguarding the interests of the poor farmers and regulation of market price to provide food grains to consumers at a reliable price. The Food Corporation of India procures rice and wheat from farmers through many routes like paddy purchase centresmill levy/custom milling and stores them in depots. FCI maintains many types of depots like food storage depots and buffer storage complexes and private equity godowns and also implemented latest storage methods of silo storage facilities which are located at Hapur in Uttar Pradesh and Elavur in Tamil Nadu.

On the basis of the given information about The Food Corporation of India (FCI), answer the following questions:

(a) How will you classify the Food Corporation of India (FCI) as a form of public sector enterprise?

(b) Why it was necessary for the government to pass the Food Corporations Act 1964 for its formation?

(c) State any three advantages of form of public sector enterprise identified in part (a).

How can you say that wholesale and retail trade are the part of internal trade?

Mention the factors that are responsible for lack of popularity of mail order retailing in India.

Identify the type of partner highlighted in the following situations:
(a) Partners who take actual part in carrying out business of the firm on behalf of other partners.
(b) Partners whose association is not known to the general public.
(c) The partner liable to outsiders for the debts given to the firm if it is given because of the belief that the he is a partner in the firm.
(d) The partner who accepts by his words or conduct that he is a partner in the firm.

Identify the main documents used in internal trade:
(a) A confirmed purchase order containing the term and condition on which buyer and seller agree on the product detail and cost.
(b) This document is an evidence of contract between buyer and seller. This document contains detailed description of goods quantity, price, total value, term of payment etc.
(c) A document of title issued by the transporters when goods are sent by roadways.
(d) A document of title issued by the railway authorities when goods are sent by railways.

Annaya was doing research on the banking sector for her assignment. While browsing through the website of Reserve Bank of India, she came across a specimen of a type of Hundi which is like any other bearer instrument and is payable to the holder or bearer. In the context of the above case answer the following:
i. What is a Hundi?
ii. Identify the type of Hundi being described above.
iii. Describe briefly any two other types of Hundi.

Give the meaning of Government Company. Explain three merits and three limitations of Government Company.