Business Writing Letter Quiz

Write a formal letter detailing the issues faced with the defective television set purchased from Vijay Sales Sion Circle Electronic shop and requesting action from the District Consumer Forum.

Draft a formal RTI letter addressing the Municipal Corporation, seeking explanations for the irregularity in electricity supply in your residential area over the last two months.

Draft a comprehensive business proposal from Kalpataru Yoga Institute to SIWS College Matunga outlining the details of the proposed 'Yoga Teacher Training Course' and suggesting a revenue-sharing model.

<p>a) Branch stock account b) Branch debtor account c) Branch expenses account d) Branch profit and loss account</p> Signup and view all the answers

<p>a) Purchases Rs.85,000 b) Sales Rs.90,000 c) Goods costing Rs. 5,000 taken for personal use d) Cost price of stock on January 1, 2013 Rs.40,000</p> Signup and view all the answers

<p>Single entry system records only one aspect of a transaction, while double entry system records both the debit and credit aspects.</p> Signup and view all the answers

<p>Ordinary commission is paid for sales made, while Del Credere Commission is a guarantee against bad debts.</p> Signup and view all the answers

<p>In a consignment, the Consignor sends goods to the Consignee to sell on their behalf.</p> Signup and view all the answers

<p>The Average Clause in insurance policies reduces the claim amount in case of underinsurance.</p> Signup and view all the answers

<p>Rs. 2,500</p> Signup and view all the answers

<p>Principal and agent</p> Signup and view all the answers

<p>Del credere commission</p> Signup and view all the answers

<p>Nominal</p> Signup and view all the answers

<p>Claim</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>Air and water pollution, deforestation, habitat destruction</p> Signup and view all the answers

<p>Excessive nutrients in water causing overgrowth of plants and algae, leading to oxygen depletion.</p> Signup and view all the answers

<p>Tourism has significant economic potential and promotes cultural exchange.</p> Signup and view all the answers

<p>Infrastructure development, promotion of heritage sites, easing visa regulations</p> Signup and view all the answers

<p>Solid waste leads to pollution, disease spread, and habitat destruction.</p> Signup and view all the answers

<p>Loss of biodiversity, soil degradation, water pollution</p> Signup and view all the answers

<p>Homogeneous product, large number of buyers and sellers, perfect knowledge, free entry and exit.</p> Signup and view all the answers

<p>A monopolist can attain equilibrium by maximizing profits where marginal cost equals marginal revenue in the long run.</p> Signup and view all the answers

<p>Barriers to entry such as patents, control over scarce resources, economies of scale.</p> Signup and view all the answers

<p>Natural monopoly, legal monopoly, and geographical monopoly.</p> Signup and view all the answers

<p>Monopolistic competition is a market structure with many firms selling differentiated products.</p> Signup and view all the answers

<p>Selling costs are expenses incurred by firms to promote and differentiate their products in monopolistic competition.</p> Signup and view all the answers

<p>Few large firms, interdependence, barriers to entry, non-price competition.</p> Signup and view all the answers

<p>In the kinked demand model, the firm's equilibrium is stable due to the assumption that rivals will match price cuts but not price hikes.</p> Signup and view all the answers

<p>First-degree, second-degree, third-degree price discrimination. Price discrimination is profitable when firms can segment the market based on price elasticity of demand.</p> Signup and view all the answers

<p>Full cost pricing involves setting prices to cover all costs, including fixed and variable. Marginal cost pricing sets prices based on the additional cost of producing one more unit.</p> Signup and view all the answers

<p>Price policy objectives include profit maximization, revenue maximization, market share growth, and demand stabilization.</p> Signup and view all the answers

<p>Capital budgeting involves evaluating long-term investment decisions. Net Present Value method compares the present value of cash inflows to outflows to assess project profitability.</p> Signup and view all the answers

<p>Steps include project identification, estimation of cash flows, evaluation, and implementation. Payback period method calculates the time needed to recover initial investment.</p> Signup and view all the answers

<p>Perfect competition has homogeneous products and many buyers and sellers, while monopolistic competition involves differentiated products and some market power.</p> Signup and view all the answers

<p>Wastages in monopolistic competition refer to resources spent on product differentiation and non-price competition that do not add to consumer welfare.</p> Signup and view all the answers

<p>A cartel is a group of firms that collude to restrict output and raise prices, acting like a monopoly.</p> Signup and view all the answers

<p>The kinked demand curve model suggests that firms face a demand curve with two segments: elastic above the kink and inelastic below.</p> Signup and view all the answers

<p>Price discrimination is the practice of charging different prices to different customers for the same product or service.</p> Signup and view all the answers

<p>Advertising plays a crucial role in informing consumers about products, creating brand loyalty, and differentiating products in competitive markets.</p> Signup and view all the answers