Business Services — Business Studies STD 11 Commerce — Question

Explain the term FOB.

Give two examples of expenditure that are made, each in the case of the given period.

1. Short-term.
2. Medium-term.
3. Long-term.

Sanjay Sethupathi took a marine insurance policy to cover the goods exported by him. Under this policy, goods were insured against damage caused due to sea water. During the voyage, a hole was developed at the bottom of the deck of the ship and sea water seeped in through the hole and damaged Sanjay Sethupathi's goods.

Can Sanjay Sethupathi claim compensation for his loss? State the relevant insurance principle in this regard.

What do you understand by statement in lieu of prospectus?

Who are itinerants? Name different types of itinerants.

What do you understand by entrepot trade?

"Business is an institution organised and operated to provide goods and valuable services under the incentive of private gain.” Discuss.

List some professions, professionals and their professional bodies.

Dipti's sofa set got spoiled in rain. Her friend suggested that she should change the fabric so that it looks new and put it for sale on www. olx .com. Dipti followed her friend's advice and got her sofa repaired so that it looks better. She uploaded nicely clicked pictures on www. olx .com without disclosing the fact that it was damaged from inside. She found a customer and sold it for ₹9,000. After one week the buyer found the real state of sofa set and called Dipti but she did not acknowledged any of his call.
On the basis of the given information about Dipti, answer the following questions:
(a) Name the type of e-Business transactions performed by olx .com.
(b) Is e-Business and e-Commerce same? Give reasons in support of your answer
(e) Identify any two values which Dipti has violated while selling her sofa set?

Differentiate between contract manufacturing and setting up wholly owned production subsidiary abroad.