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.
Who among the following cannot be regarded as an itinerant trader
Gypsy
Barrow boy
Pedlar
Stall owner
Correct answer is D
No explanation has been provided for this answer.
A bank's undertaking to pay an exporter on behalf of an importer is a
documentary credit
letter of credit
letter of hypothecation
bill of exchange
Correct answer is B
No explanation has been provided for this answer.
An organization formed mainly by traders on the same line of business is known as
trade union
cooperative society
trade association
chamber of commerce
Correct answer is B
No explanation has been provided for this answer.
The net profit of a business is determined by
deducting cost of goods sold from sales
deducting purchases from sales
adding commissions recieved to gross profit
deducting all expenses from gross profit and other income
Correct answer is D
No explanation has been provided for this answer.
Which of the following is an intangible asset of a firm
Goodwill
Reserve
Skilled personnel
Rights issue
Correct answer is C
No explanation has been provided for this answer.