Text Book Back Questions and Answers - Chapter 13 Warehousing 11th Commerce Guide Samacheer Kalvi Solutions - SaraNextGen [2024-2025]

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On April 24, 2024, 11:35 AM

Chapter 13 - Warehousing - 11th Commerce Guide Samacheer Kalvi Solutions - Text Book Back Questions and Answers

Textbook Exercise Questions and Answers

I. Choose the Correct Answer

Question 1.
Warehouses removes the hindrance of ………………
(a) Person
(b) Time
(c) Risk
(d) Knowledge
Answer:
(b) Time

Question 2.
A warehouse holds goods as a ……………… center.
(a) Marketing
(b) Sorting
(c) Distribution
(d) Selling
Answer:
(c) Distribution

Question 3.
……………… can be given as a collateral security for getting financial assistance from bank.
(a) Dock warrant
(b) Warehouse receipt
(c) Dock receipt
(d) Warehouse warrant
Answer:
(d) Warehouse warrant

Question 4.
……………… warehouses are licensed by the government and are permitted to accept the goods on bond.
(a) Bonded
(b) Cold Storage
(c) Public
(d) None of these
Answer:
(d) None of these

Question 5.
……………… warehouses are used for storing perishable goods like fruits, vegetables etc.
(a) Bonded
(b) Private
(c) Cold storage
(d) Co – operative
Answer:
(c) Cold storage

Question 6.
The document which authorizes to deliver the goods either in part or full is called ………………
(a) Warehouse warrant
(b) Dock receipt
(c) Dock warrant
(d) None of these
Answer:
(c) Dock warrant

Question 7.
The Institutional warehouse started with the support of the government is ………………
(a) Bonded warehouse
(b) Public warehouse
(c) Food Corporation of India
(d) Custom bonded
Answer:
(c) Food Corporation of India

II. Very Short Answer Questions

Question 1.
What is Warehouse?
Answer:
It is a place where goods are stored for future use and act as distribution centres. Warehouses are designed depending upon the nature of the products to be stored.

Question 2.
List the various types of Warehouses.
Answer:

1. On the Basis of Ownership – Private, Public
2. On the Basis of Commodities stored – General

Question 3.
Give any three functions of Warehouses.
Answer:

1. Storage
2. Price stabilization
3. Equalization of demand and supply.

Question 4.
Tabulate the three differences between warehouse warrant and warehouse receipt.
Answer:
Warehouse Warrant:

• It is a document of title of goods.
• It is not only an acknowledgement for the
• receipt of goods but also gives an authority to get delivery of goods by the owner or by third party-
• It can be negotiated or transferred to others.

Warehouse Receipt:

• It is not a document of title of goods.
• It is only an acknowledgement for the
• receipt of goods.
• It cannot be transferred to others.

Question 5.
Give a note on FCI.
Answer:
FCI provides storage facilities for good grains. FCI also hires storage capacity from other sources such as CWC, SWC and private parties.

III. Short Answer Questions

Question 1.
Differentiate the warehouse warrant from the warehouse receipt.
Answer:
Warehouse Warrant:

• It is a document of title of goods.
• It is not only an acknowledgement for the receipt of goods but also gives an authority to get delivery of goods by the
• owner or by third party.
• It can be negotiated or transferred to others.

Warehouse Receipt:

• It is not a document of title of goods.
• It is only an acknowledgment for the receipt of goods.
• It cannot be transferred to others.

Question 2.
Comment on cold storage warehouse.
Answer:
Goods are transferred in refrigerated containers and stored in refrigerated warehouses. These warehouses are used for storing perishable goods like fruits, vegetables, eggs, butter, fish, meat, etc. Goods stored in cold storage without deterioration in quality can be made available throughout the year.

IV. Long Answer Questions

Question 1.
Explain the different types of warehouses A. On the Basis of Ownership
Answer:
1. Private Warehouses: Private warehouses are built and owned by private business enterprises in order to store the products produced by them.

2. Government Warehouses: They are created and operated by the Government to implement the programmes of the Government.

3. Public Warehouse: It is open to the public at large. Most business organisations, especially small and medium scale units cannot afford to have their own warehouses.

4. Cooperative Warehouses: There are warehouses owned and managed by the marketing co-operative societies or agricultural co-operative societies. They are set up to provide warehousing facilities to their members.

5. Bonded Warehouses: Bonded warehouses are those warehouses, which are licensed by the government to accept the storage of imported goods which are not cleared due to non – payment of customs duty by the importer.

Question 2.
Explain the advantages of warehousing functions.
Answer:

1. It safeguards the stock for the merchants who do not have storage place.
2. Warehouses reduces the distribution cost of the traders by storing the goods in bulk and allow the trader to take the goods in small lots to his shop.
3. It helps in selection of channel of distribution. The producer will prefer whether to a wholesaler or retailer.
4. It assists in maintaining the continuous sale and avoids the possibilities of “Out of Stock”.
5. It creates employment opportunities for both skilled and unskilled workers to improve their standard of living.

Additional Questions and Answers

I. Choose the Correct Answer:

Question 1.
The term ‘Ware’ means ……………..
a) Products
b) Place
c) Package
d) Storage
Answer:
a) Products

Question 2.
The FCI was set up under the Food Corporation Act,
(a) 1964
(b) 1985
(c) 1995
(d) 2013
Answer:
(a) 1964

Question 3.
The document issued in favour of the owner or depositor of goods by the warehouse keeper is known as ……….
a) Dock Warrant
b) Warehouse warrant
c) Dock receipt
d) delivery order
Answer:
b) Warehouse warrant

II. Very Short Answer Questions

Question 1.
What do you mean by In Transit Mixing?
Answer:
It refers to a function in which warehouse receives products from different plants and mix and repack them as per client’s requirement.

Question 2.
Write a note on TNWC.
Answer:
Tamil Nadu Warehousing Corporation (TNWC) : Tamil Nadu Warehousing Corporation was established in 1959. The available storage capacity of TNWC is 6.83 Lakh MT with 7 Regional offices and 256 Godowns across the state.

III. Long Answer Questions

Question 1.
Explain the functions of Central Warehouse Corporation (CWC)?
Answer:
The following are the Functions of CWC:

• To provide agency services for scientific storage of agricultural produce, seeds, manure fertilizers, agricultural implements, and other notified commodities.
• To issue a negotiable warehouse receipt for procuring credit to the owners of goods.
• To preserve the produce deposited with care and protect against insects and various pests and deterioration due to moisture and dampness.
• To act as an agent of the government for the purchase and sale, storage, and distribution of specified commodities and transport to and from the warehouse.
• To reduce the cost of storage and facilitate the marketing of products through proper grading.

For future Learning

Question a.
The warehouse of the future: How will it impact efficiency?
Answer:
From 2019, new technology could be revolutionary and improving efficiency in the warehouse by Warehousing Management System (WMS). Technologies including artificial intelligence, 3D printing and self-driving vehicle could be more widely used in warehouses everywhere sooner than you think. By 2030, warehouses will be a part of an initiative to achieve Zero net energy. Warehouse buildings will operate 24 x 7 x 365 and be designed with sustainability. By creating strategies, the warehouse will save costs and prevent harmful emissions. Solar panels will become the main sources of energy for warehouses.