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 a safest way of sending important documents through the post
Registered mail
Parcel post
Letter post
Express mail
Correct answer is A
Registered mail is a postal procedure with special precautions for safety and for compensation in case of loss.
The exchange of goods for goods in home trade is known as
entrepot trade
trade by barter
commodity trade
distributive trade
Correct answer is B
Barter is involves the provision of one good or service by one party in return for another good or service from another party.
The main function of a thrift and credit cooperative society is to
encourage members to buy cheaply
enable members get the highest profit
help members get legal redress
encourage members to save
Correct answer is D
Thrift and Credit Society = Is a cooperative organization that provide its members with convenient and secured means of saving money and obtained credit at a reasonable rate of interest without collateral, but deduction from salary on monthly basis.
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.
chain stores
department stores
mail order firms
supermarkets
Correct answer is C
mail order company. Companies which list their products for sale in catalogs or websites for consumers to buy via telephone, mailed check with order form, or internet order.
Proximate cause
Indemnity
Insurable interest
Subrogation
Correct answer is B
Indemnity insurance is a contractual agreement in which one party guarantees compensation for actual or potential losses or damages sustained by another party.