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.
A bonded warehouse is a place for keeping
contraband goods
dutiable goods
tax free goods
smuggled goods
Correct answer is B
Bonded warehouse; is a customs-controlled warehouse for the retention of imported goods until the duty owed is paid.
The cost of advertising is ultimately borne by the
manufacturer
consumer
wholesaler
retailer
Correct answer is B
The cost of advertising a product is one of the indirect costs that is included in the sale price of a product. The consumer indirectly pays for advertisement.
A place where dutiable goods are kept until duties on them are paid is known as
private warehouse
public warehouse
bonded warehouse
manufacturer's warehouse
Correct answer is C
A bonded warehouse is a custom operated warehouse, where goods whose excise duties are yet to be paid are kept. They are owned by the government
Which of the following is not a function of an entrepreneur?
Co-ordination
Risk-bearing
Entertaining
Making decision
Correct answer is C
An entrepreneur does not perform the role of entertainment.
post restante
recorded delivery
speed post
express service
Correct answer is A
Poste restante is a service operated by post offices in which letters and packages are kept at a particular post office until their recipients collect them. In this case, a personal home/office address is not required.