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.
Partnerships are most effective where?
the partners are family friends
professionals are involved
members can easily raise enough capital
government regulations are favorable
Correct answer is B
No explanation has been provided for this answer.
In a public limited liability company, planning is carried out by?
the chairman of the board
the board of directors
shareholders
employees
Correct answer is B
No explanation has been provided for this answer.
One of the major problems of a sole proprietor is sourcing for?
raw materials
labour
machineries
funds
Correct answer is D
The source of capital for a sole proprietorship business is provided by the owner of the business. Sourcing for capital has always been a major problem faced by sole proprietors.
Warehousing is important to manufacturers because it helps to?
improve the quality of goods
produce goods in advance
meet the demand of customers
determine input rquirements
Correct answer is B
Warehousing is the act of storing products or goods to distribute or sell it later. One of the most important uses of a warehouse is, it enables the manufacturers to store goods in advance of demand.
Warehousing allows for timely delivery and optimized distribution, leading to increased labor productivity and greater customer satisfaction.
One major advantage of transportation to a business is to?
extend the firm's market coverage
ensure that goods are produced faster
procure raw materials cheaply
ensure the quality of products
Correct answer is A
With transportation in business, a firm is sure of its products and services reaching the designated consumers. Remember, production is complete at the point where goods get to the final consumer, and the only way consumers can come in contact with the produced goods is through the transportation of the goods.