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.
In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the?
directors
creditors
promoters
court
Correct answer is A
What is a Liquidator? A liquidator or an official receiver manages the entire liquidation process. He or she is appointed when a company goes into liquidation or is wound up by the Court in a compulsory liquidation process, which is brought about by a disgruntled creditor. In a voluntary liquidation, the board of directors appoint a liquidator
an amalgamation
a cartel
a merger
a consortium
Correct answer is D
A consortium is a group made up of two or more individuals, companies, or governments that work together to achieving a common objective.
The business organization that can effectively combine management with control is?
private limited liability company
sole proprietorship
public limited liability company
co-operation society
Correct answer is B
A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity. The business owner manages and controls all business activities
One of the major disadvantages of pipeline transportation is its?
high cost of construction
limitation in scope
vulnerability to climate changes
high maintainance cost
Correct answer is A
No explanation has been provided for this answer.
non-residents of a country travel to other countries
resident of a country travel to another country
non-resident of a country travel within it
resident of a country travel within it
Correct answer is B
Inbound tourism is when a person from his/her home country travels to another country for not less than 24 hours and not more than few months. The purpose of the travel is mostly leisure and very seldom for business.