GENERAL KNOWLEDGE

Detailed explanation-1: -Industry refers to a specific group of companies that operate in a similar business sphere and have similar business activities.

Detailed explanation-2: -Business assets fall into three broad categories: tangible, intangible, and intellectual property.

Detailed explanation-3: -A manufacturing business is any business that uses components, parts or raw materials to make a finished good. These finished goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product.

Detailed explanation-4: -Trade industries can differ based on a number of factors. These factors include size, kinds and variety of products sold, ownership, amount of service provided, price, and even the existence of a business premises.