Purchase and Sale — Important Questions
NIOS · Class 10 · Business Studies
73 important questions from Purchase and Sale for NIOS Class 10 Business Studies, with answers. Includes multiple choice and multiple correct questions.
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Important Questions from Purchase and Sale
Who is the party that transfers ownership of goods or property to the buyer for a price?
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Seller
The seller transfers ownership of goods or property to the buyer for a price.
Who gets ownership of goods or property transferred into his name on payment of money?
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Buyer
The buyer receives ownership of goods or property after payment of money.
Ramesh buys ready-made garments from wholesalers. In this transaction, Ramesh is the
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Buyer
Ramesh is buying garments from wholesalers, so he is the buyer.
In the example of Ramesh buying ready-made garments, the wholesalers are the
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Sellers
The wholesalers are selling ready-made garments to Ramesh, so they are sellers.
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