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 formal letter to a dealer to enquire details about certain items for sale is referred to as
an inquiry
an invoice
an order
a quotation
Correct answer is A
A quotation is a document that offers goods or services at a stated price, under specified conditions: it allows a customer to see details before confirming.
Funds used for paying wages, salaries and payments for raw materials are categorized under
liquid capital
circulating capital
fixed capital
nominal capital
Correct answer is B
Circulating capital includes intermediate goods and operating expenses, i.e., short-lived items that are used in production and used up in the process of creating other goods or services. e.g Raw materials, work in process, finished goods, and cash at hand that continually flow within an organization.
A document that serves as an instument for perferential tariff is referred to as
an indent
a certificate of origin
a consular invoice
an advice note
Correct answer is B
No explanation has been provided for this answer.
The buying and selling of goods and services is referred to as
trading
marketing
insurance
advertising
Correct answer is A
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties.
One of the duties of the employer to his employee is to
delegate his duties to others staff
charge the employee on the use of equipment
serve faithfully and honestly
provide job security
Correct answer is D
No explanation has been provided for this answer.