Commerce & Management

TYBCom Semester 6 Cost Accounting May 2019 University of Mumbai Paper Solution Q. 6 (C) Write a Short Note on - Types of Benchmarking Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other industries. There are four types of benchmarking: 1. Internal Benchmarking: This is a process of comparing a company's performance metrics with its own historical data. It helps in identifying the areas where improvement is required. 2. Competitive Benchmarking: This involves comparing a company's performance metrics with that of its competitors. It helps in identifying areas where the company is lagging behind and where it needs to improve to remain competitive. 3. Functional Benchmarking: This involves comparing a specific function of a company, such as finance or HR, with the same function of another company. It helps in identifying best practices that can be adopted to improve the function's

Are you a TYBCOM student preparing for your sem 6 theory papers? It can be a stressful time, but with the right strategies and approach, you can ace your exams and achieve the results you want. In this blog post, we'll discuss some proven writing strategies that can help you excel in your TYBCOM sem 6 theory papers. Plan your time effectively: Time management is critical to success in any exam. Before you start writing, make sure you have allocated enough time to each question, and plan how long you will spend on each section. Read and understand the question: Before you begin writing, make sure you read and understand the question thoroughly. Take note of the keywords, such as "explain," "discuss," or "analyze," and structure your response accordingly. Follow a clear structure: Your answer should have a clear structure, with an introduction, body, and conclusion. Use headings and subheadings where appropriate to make your answer easier to read and

Q.1 B) State whether the following statements are True or False. (Any 10) Marking on packages give handling instruction. Answer: True Explanation: Marking on packages includes information such as weight, handling instructions, and destination, among others. These markings help to ensure that the packages are handled correctly during transit. Labelling aims at giving information about the products to the consumer. Answer: True Explanation: Labelling provides information about the product such as its name, brand, ingredients, nutritional value, and usage instructions, among others. It aims to provide the necessary information to the consumer about the product. Personal selling offers scope for feedback and persuasion from consumer. Answer: True Explanation: Personal selling involves direct interaction between the seller and the consumer. This offers an opportunity for the seller to receive feedback from the consumer and persuade them to purchase the product. Exporters need not consider

Packaging helps in __________of the product. a) Financing b) Protection c) Licensing Answer: b) Protection. Explanation: Packaging plays a vital role in protecting the product from damage during transportation, handling, and storage. It safeguards the product from external elements like moisture, heat, and sunlight, and prevents it from spoilage, breakage, or tampering. FOB quotation includes __________. a) Ex factory cost b) Insurance c) Marine Freight Answer: a) Ex factory cost and c) Marine Freight. Explanation: FOB (Free On Board) quotation includes the cost of the goods at the factory or warehouse (ex-factory cost) and the cost of transporting the goods from the factory to the port of shipment (marine freight). Insurance is not included in the FOB quotation. Branding and Packaging are important considerations of ____________. a) Trade Credit b) Product Planning c) Shipping formalities Answer: b) Product Planning. Explanation: Branding and packaging are critical components of pro