Mr. Raman is a successful manufacturer. He is having production units at various locations. He is having multiple production units, he has a large stock of raw material and finished goods. He is worried about safeguarding goods from any unwanted fina…

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Q.3 (1) Mr. Raman is a successful manufacturer. He is having production units at various locations. He is having multiple production units, he has a large stock of raw material and finished goods. He is worried about safeguarding goods from any unwanted financial loss. He also requires to transfer raw material and finished goods from one unit to other but does not have any facility for that. He also requires funds for expansion. (a) Name the service which will help him to safeguard goods from any damage. (b) Which service will help him to remove difficulty of place? (c) From which service sector will Mr. Raman get financial support?

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Answer: (a) Insurance (b) Transport (c) Banking (a) Insurance service (fire / general insurance of goods) will protect his stock of raw material and finished goods against financial loss due to damage. (Warehousing also keeps goods safe while stored.) (b) Transport service removes the hindrance of place by moving raw material and finished goods from one unit to another. (c) Banking sector will give him financial support such as loans, cash credit and overdraft for expansion.

Mr. Raman is a successful manufacturer. He is having production units at various locations. He is having multiple production units, he has a large stock of raw material and finished goods. He is worried about safeguarding goods from any unwanted fina…

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