Seconds shops deal with second-hand goods or used articles in a low price such as books, furniture, utensils, clothes, automobiles, etc., and also new defective goods.

Peddlers are individuals who sell their goods by carrying on their head or shoulders moving from place to place on foot.

The list of indirect taxes before GST regions are:
(i) Central Excise duty
(ii) Additional Duties of Excise
(iii) Purchase Tax
(iv) Central Sales Tax
(v) Entry Tax
(vi) Entertainment Tax
(vii) Taxes on Advertisement

Income Tax is applicable throughout India including the State of Jammu and Kashmir.

If the bill of exchange is marked as documents against acceptance, the documents will be delivered to the importer on the acceptance of the bill. Usually, 30 to 90 days are allowed to pay the bill. If the bill is marked as documents against payment, the documents will be give to the importer only on the payment of the amount noted in the bill.

Yes, it is correct.

IMF - It works to foster global growth and economic stability by providing policy.
World Bank - Provide long-term loans to developing countries for development.
SAARC - The independence of nations has been increased.

Most of the commercial banks extend foreign currency loans for promoting business opportunities. The loans and services of various types, provided by banks differ from country to country.

All purchases and sales between the producers and wholesalers,and from the wholesalersto retailers,etc. are called Business to Business (B2B) transactions.

Discharge of contract implies termination of the contractual relationship between the parties. A contract is discharged if it ceases to operate and when the rights and obligations created by it come to an end.

Micro enterprises are engaged in low scale activities such as clay pot making, fruits and vegetable vendors, transport (three wheeler tempos and autos), repair shops, cottage industries, small industries, handlooms, handicraft works etc.

Franchising is a contractual agreement which involves grant of rights by one party to another for use of technology, trade mark and patterns in return of the agreed payment for a certain period of time.

Commerce refers to all those activities which are necessary for bringing goods from the place of production to the place of their consumption.

1. The liability of the members of the company is limited to contribution to the assets of the company upto the face value of shares held by him.
2. A member is liable to pay only the uncalled money due on shares held by him.

Retail traders are classified under the following three heads.
(i) Itinerant or Mobile Traders
(ii) Small scale Fixed Retailers
(iii) Large Scale Fixed Retailers

i. Departmental undertakings is the form of public enterprises which is most suitable for projects related to National Security
ii. Because Strategic industries like defence and atomic power cannot be better managed other than government departments.
iii. Department undertakings can maintain secrecy in their working.

Banking Correspondents (BCs) are retail agents engaged by banks for providing banking services at low cost in locations other than a bank branch/ATM.

(i) Bata corporation
(ii) Coca-cola corporation

An Alien enemy is a person who is a citizen of a foreign country. An alien enemy is therefore a person whose country is at war with India.

(i) Export Trading house has been established to increase the export, strengthen the global market capacity, and get necessary facilities for increasing export performance of our country.
(ii) It consists of merchants, exporters, trading companies, export-oriented units, units located in export processing zones, electronic hardware technology, etc.

i. Sleeping partner contributes capital and shares in the profits or losses of the firm but does not take part in the management of the business.
ii. He may not be known as a partner to the outsiders; yet he is liable to third parties to an unlimited extent às any other partner.
iii. It is also known as Dormant partner.

i. Yes, Possible.
ii. Government provides various exemptions and tax concessions.

"A central bank being generally recognized as a bank which constitutes the apex of the monetary and banking structure of its country and which performs as best as it can, in the national economic interest." - De Kock.
(or)
"It may be defined as an institution charged with the responsibility of managing the expansion and contraction of the volume of money in the interest of the general public welfare." - Kent.
(or)
"A Central Bank is the bank in any country to which has been entrusted the duty of regulating the volume of currency and credit in that country." - Bank of International Settlement (BIS).

Day market was called as Nalangadi.

The kinds of reciprocal promises are:
(i) Mutual and Independent
(ii) Mutual and Dependent
(iii) Mutual and Concurrent