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 practice of selling the product below the cost price to attract customers to a shop is known as
hedging
loss leader
skimming
under-invoicing
Correct answer is A
No explanation has been provided for this answer.
Which of the following is not a feature of co-operative society?
Owners are the customers
Capital can be repaid to a member
Votes are according to shares held
Dividend is based on patronage
Correct answer is C
Features of a Cooperative Society
- As it is a voluntary association, the membership is also voluntary.
- There is limited liability of the members of co-operative society.
- Liability is limited to the extent of the amount contributed by members as capital.
- An elected managing committee has the powers to take decisions.
Government financial grants is a source of capital to a
partnership
public limited company
public corporation
co-operative society
Correct answer is C
A public corporation is that form of public enterprise which is created as an autonomous unit, by a special Act of the Parliament or the State Legislature. They are created by the state to carry out public missions and services and funded by government and tax payer monies
underwrite insurance risks
calculate insurance premiums
settle insurance claims
assess profits for insurance companies
Correct answer is A
An actuary is a person whose job is to calculate risk for insurance companies and pension funds, especially the age to which people are expected to live.
A mortgage bank is primarily concerned with financing the acquisition of
motor vehicle
research equipment
computer machine
dwelling houses
Correct answer is D
A bank that primarily or exclusively offers loans to clients to purchase real estate, especially of private residences.