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 verbal means of communication
Telephone
Express mail
Business reply services
telex
Correct answer is A
The Verbal Communication is a type of oral communication wherein the message is transmitted through the spoken words.
telephone is a verbal means of communication
One of the major problems of a sole proprietor is sourcing for
Funds
Labour
Raw materials
Machineries
Correct answer is A
sole proprietorship is solely financed by the owner and money from family and friends and most times it’s difficult to raise funds
The main disadvantages to being a sole proprietorship is raising of funds
Current account holders withdraw money through
Credit card
Cheque
Transfer
Withdrawal form
Correct answer is B
Current account holder withdraws money using cheque, a cheque is an order to a bank to pay a stated sum from the drawer's account, written on a specially printed form.
A cheque is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.
The act of selling in a foreign market at a price lower than the cost price is called
Dumping
hedging
fair trading
under sale
Correct answer is A
Dumping is a term used in the context of international trade. It's when a country or company exports a product at a price that is lower in the foreign importing market than the price in the exporter's domestic market
Exporting goods at prices lower than the home-market prices
economic responsibilities
marketing responsibilities
social responsibilities
managerial responsibilities
Correct answer is C
This is the responsibility of an organisation to perform social benefits to the society at large.