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 an economic grouping
Lake Chad Basin Commission
Economic Community of West African States
European Union
International Monetary Fund
Correct answer is A
Economic grouping is an organization that encourages economic cooperation among its member countries. The The Lake Chad Basin Commission is not an economic grouping.
The Lake Chad Basin Commission is an intergovernmental organization that oversees water and other natural resource usage in the basin.
Memorandum of Association
Certificate of Incorporation
Article of Association
Trading certificate
Correct answer is B
A certificate of incorporation is a legal document/license relating to the formation of a company or corporation. It is a license to form a corporation issued by state government or, in some jurisdictions, by non-governmental entity/corporation.
Which of the following is concerned with promoting favorable image of an organization?
Consumer soveriegnty
Public relations
Marketing research
Marketing segmentation
Correct answer is B
Public relations; the professional maintenance of a favourable public image by a company or other organization or a famous person.
Bonded warehouse is a place where
duty free goods are kept
perishable goods are kept
home-made goods are kept
dutiable goods are kept
Correct answer is D
Bonded warehouse is a customs-controlled warehouse for the retention of imported goods until the duty owed is paid.
Which of the following is a feature of mail order business?
Employs many shop assistants
Practices self service
Provides attractive shop front
Rents large warehouse
Correct answer is B
Following are the salient features of a mail order business:
(1) This business does not require much capital.
(2) The business can be carried even without owning a shop, sitting at house.
(3) In a mail order business there is no need of middlemen, as the goods are directly sent to the customers by post.