(English Medium) ICSE Class 10 - CISCE Question Bank Solutions for Commercial Studies

The first purpose of marketing is to create demand for goods and services. Why?

Give two objectives of advertising.

All of the following are benefits due to E-commerce except ______.

All of the following are reasons more people don’t shop online except ______.

All of the following are the reasons more people shop online because of ______.

Which of the following is NOT a benefit of E-commerce over Traditional Commerce?

Which of the following are the two benefits of E-commerce to sellers?

Briefly discuss any five advantages of e-commerce over traditional commerce.

It is an account prepared to know the net profit/loss. It is also a nominal account and represents second stage.

______ provides information about the net profit earned or net loss suffered by the business during a given accounting period.

Net profit/loss is transferred from ______.

Abnormal Losses such as stock destroyed by fire, goods lost intransit, loss on sale of fixed assets are recorded on the ______ side of the ______.

Office rent, office lighting, office salaries, insurance, postage and telegrams, stationery and printing, audit fees, legal expenses are recorded on the ______ side of the ______.

Storage expenses, carriage outwards, salaries of sales staff are recorded on the ______ side of the ______.

Carriage outwards are recorded the ______ side of the ______.

The difference of the two sides of this account is either net profit or net loss.

In case, the total of the debit side is greater than the total of the credit side, the difference represents ______.

What is the purpose of a Profit and Loss Account?

Distinguish between a Trading Account and a Profit and Loss Account.

Explain the needs of the Profit and Loss Account.