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 reduction in the catalogue price?
Rebate
Cash discount
Commission
Trade discount
Correct answer is D
No explanation has been provided for this answer.
Stocks, shares and debentures traded in the stock exchange are called
bears
bulls
securities
collaterals
Correct answer is C
No explanation has been provided for this answer.
For overstaying in a port, a ship is charged a fine called
dock due
commission
interest
demurrage
Correct answer is D
Demurrage refers to the penalty fee paid by cargo ship operators for over staying in a dock.
A ship that travels without schedule is called a
passenger liner
tramp
cargo liner
tanker
Correct answer is B
Tramps are ships that do not follow a fixed schedule or route for their operations
Which of the following is a source of capital to a sole proprietorship?
Loans from friends
Admission of new member
Issue of shares
Issue of debentures
Correct answer is A
One of the sources of funds for sole traders is the loans they get from family and friends. While it takes little or no legal documentation to establish a sole proprietorship, getting funds to finance the business has always posed a constraint to its growth. Hence the business owner is left with sourcing funds from either friends and families, grants, or plough-back profits.