Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
The ancillary to trade which ensures that people have access to information pertaining to goods is
insurance
advertising
warehousing
banking
Correct answer is B
Advertising; describe or draw attention to (a product, service, or event) in a public medium in order to promote sales or attendance.
patent
copyright
goodwill
trade mark
Correct answer is C
Goodwill; the established reputation of a business regarded as a quantifiable asset and calculated as part of its value when it is sold.
A person who undertakes responsibility for forming a new company is
auditor
solicitor
registrar
promoter
Correct answer is C
Registrar of Companies is a government official whose duty is to ensure that companies are properly registered, and that, when registered, they file accounts and other information correctly.
The process of winding up a public limited company by a court order is known as
termination
dissolution
voluntary liquidation
compulsory liquidation
Correct answer is D
Compulsory liquidation is a formal insolvency procedure which results in a limited company being forcibly shutdown by way of a court order.
A country is said to achieve a trade surplus when total
visible exports exceed total visible imports
invisible exports exceed total invinsible imports
visible exports exceed total invisible imports
visible imports exceed total visible exports
Correct answer is A
Trade surplus is achieved When the amount by which the value of a country's exports exceeds the cost of its imports.