Commercial Applications
What is the meaning of 'Organisation'?
- An institutional arrangement to carry on some business activity.
- It is an incorporated association of persons created by law.
- A group of persons who join together to achieve some common objectives.
- None of these
Answer
A group of persons who join together to achieve some common objectives.
Reason — According to the textbook, "The term 'organisation' means a group of persons who join together to achieve some common objectives." Option 1 — "An institutional arrangement to carry on some business activity" — is actually the definition of a firm, not an organisation. Option 2 — "an incorporated association of persons created by law" — is the definition of a company. An organisation is a wider concept than firm and company.
Related Questions
Statement I: Trade means the sale, transfer or exchange of goods may be for cash or credit.
Statement II: Traders serve as link between producers and consumers.
- Statement I is wrong
- Statement II is wrong
- Both I and II are correct but II is not an explanation of I
- Both I and II are correct and statement I is an explanation of II
Entrepot Trade means
- Importing goods from one or more countries with the purpose of exporting them to some other country or countries.
- Purchasing goods and services from other countries.
- Selling goods and services to other countries.
- None of these
What is the nature of activity of banking and finance companies?
- These organisations are engaged in designing and preparing advertisements.
- These organisations are engaged in accepting deposits and lending money.
- These organisations are engaged in storing and preserving goods on hire.
- These organisations are engaged in buying and selling of goods.
These organisations are engaged in buying and selling of goods.
- Banking and Finance Companies
- Trading Organisations
- Transport Organisations
- Manufacturing Organisations