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Yogita Ingle 5 years, 10 months ago
In Entrepot trade, import of goods is made before the export of goods.
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Sakshi Sharma ??️??️??️ 5 years, 10 months ago
Yogita Ingle 5 years, 10 months ago
Chain stores are multiple retail shops which operate under one brand name and have the common ownership. Basically, they are all outlets or branches of the same brand/store. These types of retail stores actually originated in America but are now seen worldwide. One common example would be Croma or DMart.
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Gaurav Seth 5 years, 10 months ago
The social objectives of a business may be summarised as follows :
- Production of quality goods : The objective of business is not only to provide goods to the society but also to provide goods and services of high quality. The business should also try to improve the quality of goods and services continuously. A businessman may earn good profit by selling adulterated goods. But he cannot carry on his business for a long time like this.
- To charge fair prices : The social objective of business is not only to provide quality goods to the society but also at reasonable prices. Undue profits earned by increasing the prices of the goods may not last long.
- To provide employment : The social objective of business is also to provide employment to the society. With the development of business, the need for employees arises. Thus, the business needs the services of good employees. So, the business provides employment to the society.
- To provide regular and fair returns to investors : It is also a social objective of business to provide regular and fair returns to investors. Investors invest money and bear risk. So, the investors must be suitably rewarded.
- To promote the progress of the society : Business is a part of the society. The society provides regular market for goods and services of the business apart from factors of production. The progress of the business is linked with the progress of the society.
So, to promote the progress of the society has also become the objective of the business.
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Gaurav Seth 5 years, 10 months ago
Unlimited liability, which typically exists in general partnerships and sole proprietorships, indicates that whatever debt accrues within a business – whether the company is unable to repay or defaults on its debt – each of the business’ owners is equally responsible and personal wealth could reasonably be seized to cover the balance owed.
Yogita Ingle 5 years, 10 months ago
Unlimited liability refers to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can’t pay its liabilities. In other words, general partners and sole proprietors are responsible for paying off all of the company debts personally if the company can’t make its payments.
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Yogita Ingle 5 years, 10 months ago
The Chamber of Commerce and Industry was formed as an association of business and industrial houses to promote and protect their common interest and goals. There are other chambers also like ASSOCHAM, Confederation of Indian Industry (CII). These chambers interact with the government at different levels to reorient or put in place polices which reduce hindrances, increase interstate movement of goods in internal trade.
The chambers also aims at erecting sound infrastructure and simplying and harmonising the tax strcuture. They work for the following issues:
1. Transportation or Inter-state movement of goods : They work for many activities involved in inter-state movement of goods including registration of vehicles, surface transport policies, construction of highways and roads etc.
2. Octroi and other local levies : Octroi and local taxes are the important sources of revenue of the local government. The chambers tries to should ensure that their imposition not at the cost of smooth transportation and local trade.
3. Harmonisation of sales tax structure and Value Added Tax : These Chambers play an important role in interacting with the government to harmonise the sales tax structure in different states. A rational strcuture of the sales tax and its unifrom rates across states are important for promoting a balance in trade.
4. Marketing of agro products and related issues : The associations of agriculturists and other federations play an important role in the marketing of agro products. Chambers of Commerce helps in streamlining of local subsidies and marketing policies of organisations selling agro products.
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Yogita Ingle 5 years, 10 months ago
2Thank You