Purchase and Sale — Practice Quiz
NIOS · Class 10 · Business Studies
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Quick Quiz: Purchase and Sale
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What is the meaning of purchase in business studies?
What is the meaning of sale in business studies?
Which statement best describes the relation between sale and purchase?
In every sale and purchase, who pays money to the seller?
Sample Questions
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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