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Business Services

Question

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What are the advantages accrue to us from banking ?

Solution

Generally the following advantages accrue to us from banking :

(i) Capital formation and saving.

(ii) Transfer of funds easily.

(iii) Facility of payment.

(iv) Saving of currency.

(v) Best utilization of financial resources.

(vi) Safety of money and articles.

(viii) Balanced economic development.

Tips: -

(Imp)

Some More Questions From Business Services Chapter

What do you mean by the term transportation ?

What do you mean by the term warehousing ?

What do you mean by Public Warehouse ?

What is meant by cold storage houses ?

Explain any three considerations which a business firm should take into account for choosing a suitable mode of transport.

Under the principle of subrogation, why does the right of ownership of damaged property pass on to the insurer after the compensation has been paid to the insured ?

How does the insurance distribute the loss ?

What do you mean by specialised banks ? Give three examples of specialised banks.

Write down the types of postal services.

Name the services included in postal services.

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