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Revision Notes

Documents used in Home Trade

ICSE · Class 11 · Commerce

Quick revision notes for Documents used in Home Trade — ICSE Class 11 Commerce. Key concepts, formulas, and definitions for last-minute revision.

65 questions37 flashcards5 concepts

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Key Topics to Revise

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1. Enquiry, Quotation, Catalogue, and Order

  • An enquiry is a request made by an intending buyer to a seller for information about goods, price, delivery, payment, discount, packing, and validity of offer.
  • If the seller is not local, enquiry is made through a letter of enquiry; if local, it may be made by telephone or personal contact.
  • A quotation is the seller's reply to the buyer's enquiry giving price, quality, and trade facilities.
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2. Despatch, Invoice, and Proforma Invoice

  • Goods are generally sent through road transport such as Motor Lorry, Tonga, or Bullock Cart, or by Railways.
  • The invoice is sent along with the R/R or transport documents.
  • An invoice is a written document sent by the seller to the buyer stating quantity, quality, prices, expenses, and total amount payable.
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3. Price Terms, Discounts, and Amount Calculation

  • COD means delivery is given only when payment is received.
  • CWO means the buyer sends part or full payment along with the order.
  • Godown price, Loco price, and Loco mean the buyer takes responsibility of bringing goods from the seller's godown to his own godown.
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4. Advice Note, Delivery, Credit Note, Debit Note, and Account Sale

  • The seller sends an advice note, also called a letter of advice, to inform the buyer about goods despatched.
  • The railway receipt is sent along with the advice note.
  • If the seller wants immediate payment, the railway receipt is sent through bank or V.P.P., and the buyer gets it only on payment.

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Full Notes

Key Concepts

Trade carried on within the boundariesAn enquiry is a request madeA quotation is the seller's replyA catalogue is a printed handbookAn order is the formal document

Frequently Asked Questions

What are the important topics in Documents used in Home Trade for ICSE Class 11 Commerce?
Documents used in Home Trade covers several key topics that are frequently asked in ICSE Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Documents used in Home Trade — ICSE Class 11 Commerce?
Understand the core concepts first, then work through the 65 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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