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 major function of a trade association is that it?
liases with foreign trade associations
helps to promotes foreign trade
facilitates members' access to credit facilities
helps to promote research on behalf of members
Correct answer is D
The major functions of a trade association are: Educating members so as to improve efficiency. Preventing cut-throat or unfair competition. Promoting and extending trade through 'legislative work'.
A written agreement for hiring a ship for transporting goods is a?
consular invoice
bill of lading
charter party
certificate of origin
Correct answer is C
A charter party is simply a deed between a shipowner and a trader for the hire of a ship and the delivery of cargo. That is, it is an agreement between the owner of a ship and a trader who intends to use the ship for the transportation of his/her goods.
The internet is a system of telecommunications used for?
communicating long-distance messages
sending and recieving text massages
sending electronic messages
communicating messages through telegrams
Correct answer is C
The Internet is a vast network that connects computers, phones, and gadgets all over the world, with people sharing information and communicating through electronic messages from anywhere with an Internet connection.
The major determinant of fire insurance premium is the?
type and structure of the property to be insured
usefulness of the property to the owner
owner of the property to be insured
extent of fire damage anticipated
Correct answer is A
The total value of your assets and building is the basic factor of the premium amount. The market value of the building and purchase value of all the contents are taken into consideration while calculating the premium amount.
In the permanent storage device, DASD means?
Data Access Storage Device
Data Access Systems Device
Direct Access Systems Device
Direct Access Storage Device
Correct answer is D
DASD means direct-access storage device and it is a secondary storage device that stores data in discrete locations with a unique address, such as hard disk drives, optical drives, and most magnetic storage devices.