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 exclusive right of an author over his book is
Trade mark
Brand name
Copyright
Patent right
Correct answer is C
Copyright; is the exclusive and assignable legal right, given to the originator for a fixed number of years, to print, publish, perform, film, or record literary, artistic, or musical material.
bill of exchange
bill of sight
certificate of origin
shipping advice note
Correct answer is C
A Certificate of Origin (CO) is an important international trade document that certifies that goods in a particular export shipment are wholly obtained, produced, manufactured or processed in a particular country.
Throwing cargo overboard in order to save a ship from sinking is
jettison
abandonment
piracy
flotsam
Correct answer is A
Jettison; this simply means to throw or drop (something) from an aircraft or ship.
The functions of credit and thrift society does not include
charging low interest rate on loans
providing savings facilities
encouraging mutual co-operation of members
providing security for member's property
Correct answer is D
Cooperative thrift and credit societies can address some of the shortcomings of Esusu. These are member-based organisations that help members to address economic problems. The ultimate goal is to encourage thrift among the members and to meet the credit needs of people who might otherwise be exposed to exploitation. Their functions does not include option D
The abbreviation E & O.E. on an invoice seeks to
draw the attention of the buyer to the contents of the document
show that there is no error about price quoted on the invoice
protect the seller against any error on the document
draw the attention of the seller to the contents of the document
Correct answer is C
This is an abbreviation for "errors and omissions excepted," a disclaimer stating that information in a document is not necessarily accurate. It is used to say that a price list, product description, or other document may contain mistakes or may not include some details