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.
Which of the following is not a function of warehousing
Creating security of goods
Stabilization of price
Production ahead of demand
Storage of goods
Correct answer is B
No explanation has been provided for this answer.
A person's deliberate decision to reduce the value of her currency is called
deregulation
inflation
devaluation
revaluation
Correct answer is C
Devaluation; the reduction in the official value of a currency in relation to other currencies.
Which of the following is an advantage of a sole trader?
Guaranteed profit
Quick decision-making
Unlimited liabilty
Buying on credit
Correct answer is B
Sole traders maintain full control of their business. Running it how they please without the interference of others. Decisions are made quicker and faster without having to go through the approval of the board
fixed capital
capital employed
paid-up capital
working capital
Correct answer is D
Working capital is the capital of a business which is used in its day-to-day trading operations, calculated as the current assets minus the current liabilities.
D10,0000,000
D6,000,000
D4,000,000
D2,000,000
Correct answer is B
1,200,000 x 5 = 6,000,000