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 mode of conveying liquids and gases through an underground channel is
pipeline
rail transport
road transport
sea transport
Correct answer is A
Pipeline transportation is the means of transportation in which gas or liquid substance are moved from one place to another.
The letters R/D on a cheque shows that the cheque is
paid
dishonoured
certified
accepted
Correct answer is B
RD on a cheque means ''Refer to Drawer''
This means the cheque cannot be honored due to one reason or the other, which in this case could be a result of insufficient funds in the bank account.
Hence the bearer of the cheque is referred back to the account holder/owner.
The tax paid on goods produced within a country is known as
import duty
excise duty
ad valorem duty
customs draw back
Correct answer is B
Excise duties are taxes paid for goods produced in the domestic economy.
A document through which the public is invited to subscribe to the shares of a company is a
Memorandum of Association
Article of Association
Prospectus
Debenture
Correct answer is C
A prospectus is a document containing an invitation to the public to subscribe or buy a company's shares
Which of the following requires a certificate of trading to start business
Public corporation
Public limited company
Cooperative society
Private limited company
Correct answer is B
A trading certificate is a certificate issued by the registrar of companies, (in this case, the corporate affairs commission) to a public company without which the company may not do business.
These public companies also need this certificate to source funds from external sources.