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.
Taxes on imported foreign goods are also known as
excise duties
tariffs
ad valorem taxes
dock dues
Correct answer is B
A tariff is a tax imposed by one country on the goods and services imported from another country
The last link in the channel of distribution is the
retailer
consumer
wholesaler
producer
Correct answer is B
The consumer is the last link in the channel of distribution. Production and distribution is complete only when goods reaches the final consumer
Which of the following are elements of a valid contract?
Dishcarge and performance
Offer and acceptance
Age and maturity
Promise and capacity
Correct answer is B
No explanation has been provided for this answer.
One of the advantages of air transport over other forms of transport is
safety
flexibility
cost
speed
Correct answer is D
Air transportation is the fastest means of transportation
authorized capital
paid-up capital
issued capital
called-up capital
Correct answer is D
Called up share capital is shares issued to investors, under the understanding that the shares will be paid for at a later date or in installments.