Internal trade consists of two main sub-divisions namely :
1) Wholesale Trade
2) Retail Trade

(i) Self Help Group is a small Informal Voluntary Association.
(ii) It is created for the purpose of enabling members to Reap Economic benefit out of Mutual Help, solidarity, and Joint Responsibility.

When the firm of a country imports goods for the purpose of exporting the same goods to the firms of some other country with or without making any change in the goods meant for export it is known as entrepot trade.

(i) Goods and Services Tax (GST) is the tax imposed on the supply (consumption) of goods and services.
(ii) It is a destination based consumption tax and collected on those value-added at each stage of the supply chain.

According to International Monetary Fund "The balance of payments for given period is a systematic record of all economic transactions taken place during the period between resident of the reporting countries".
(or)
In the words of Dominick Salvatore "The Balance of payment is a summary statement in which principle of all the records of the resident of a nation with the resident of all other nations are recorded during a particular period of time, usually a calendar year."

American Depositary Receipt (ADR):
ADR (American Depository Receipts) is a dollar denominated negotiable certificate representing a non-US company in US Market which allows the US citizens to invest in overseas securities.

Assessee means a person by whom any tax or any other sum of money is payable under this act.

There are two types of impossibility of performance such as:
(i) Impossibility at the time of Agreement
(ii) Impossibility arising subsequent to the formation of contract.

i. less consumption of time
ii. no salesman required therefore cost is reduced

SPECIAL DRAWING RIGHT (SDR) was created by the IMF in the year 1969 as supplementary international reserve asset.

(i) According to 2(f) of the Indian Contract Act 1872 defines reciprocal promise as "a promise which form the consideration or part of consideration for each other are called reciprocal promises."
(ii) In other words where a party gives a promise in consideration of other party's promise, both such promises are called the reciprocal promises.
For Example: If A and B Promise to marry each other.

No. according to Indian Contract Act a minor cannot enter into a contract.

Internal Sources includes all those sources generated from within the business enterprises.
1. Trade debtors
2. Bills receivable

A Broker is one who bargains for another and receives commission for his service. He is paid 'brokerage' for his services.

There are three types of indent namely open indent, closed indent, and confirmatory indent.