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 document that gives an importer a freehand to obtain goods from any manufacturer is?
a consular invoice
a closed indents
an open indent
a freight note
Correct answer is C
An open indent is an order to an overseas purchasing agent to buy certain goods, without specifying the manufacturer. If the manufacturer is specified this is a closed indent.
balance of payment
terms of trade
balance of trade
terms of payment
Correct answer is C
Balance of trade; the difference in value between a country's imports and exports.
The activity which entails buying of goods in bulk and selling in small quantities to retailers is?
assembling
wholesaling
retailing
merchandising
Correct answer is B
Wholesaling is the business of distributing goods in bulk to other businesses that repackage them in smaller quantities for sale directly to consumers.
A trend in retailing which enables consumers to have free access to different products is?
after-sales services
branding
self-services
vending machine
Correct answer is C
Self-service; denoting a shop, restaurant, etc. where customers select goods for themselves and pay at a checkout.
After-sales service is a function usually rendered by?
a retailer
a wholesaler
an agent
an enterpreneur
Correct answer is A
Retailers render after sales service to customers