Commerce Questions and Answers

A seller receives goods (returned) from the buyer, he prepares and sends a credit note as an intimation to the buyer, showing that the money for the related goods is being returned in form of a credit note

This is an attempt to reduce legal liability for potentially incorrect or incomplete information supplied in a contract usually related document such as quotation or specification.

privatization is moving something from the public sector into the private sector.  The transfer of ownership, property or business from the government to the private sector is termed privatization. The government ceases to be the owner of the entity or business. Government owned businesses or agencies are primarily established for the purpose of providing various products and services to the general public at a subsidized rate. Their aim isnt to make profit unlike privately owned businesses, whose major aim is to maximize profit while for offering such goods / services. 

A liquidator is a person appointed to wind up the affairs of a company or firm. A person assigned to supervise the liquidation of a business concern and whose legal authorization, rights, and duties differ according to whether the liquidation is compulsory or voluntary.

Money is a type of asset in an economy that is used to buy goods and services from other people. A commodity is a physical item that is interchangeable with another item of the same type or value.

This is the use of specific commodity as a form of money. Its value as a piece of metal is the same with its value as a piece of money.