Commerce Questions and Answers

The business of co-operative society is generally managed by a committee elected by the members at annual general meeting. Since most of the co-operatives operate on a local scale, the meetings of the members are well attended, and this puts the managing committee under a lot of close supervision. ‘One man one vote’ is the basic element of co-operative democracy.

But in a co­operative, one member may have 10,000 shares and the other only 1 share, but each would command one vote only and no proxies would be permitted.

A transposition error is a simple error of data entry that occurs when two digits that are either individual or part of a larger sequence of numbers are accidentally reversed (transposed) when posting a transaction. Although this type of error is often small and unintentional, it can result in huge financial losses in some instances. A transposition error is simply substituting two sequential digits. For example, the number 78 for 87 or 1346 for 1436.

In the field of marketing, channels of distribution indicates routes or pathways through which goods and services flow, or more from producers to consumers. A channel of distribution is a path traced in the direct or indirect transfer of ownership of a product as it moves from producers to consumers. The transportation, retailing or wholesaling of goods wouldnt be possible without the manufacturing industry to actually transform this raw materials to consumables. 

In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets under such circumstances of the company and settling all claims against the company before putting the company into dissolution. 

Sales Promotion is one of the elements of the promotional mix.. Sales promotion uses both media and non-media marketing communications for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. it means taking a product to a particular location in order to ascertain people's reaction to it.