Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

3,116.

Enter pot trade is said to have taken place when goods are?

A.

held at the port payment of custom duty

B.

sold in the ship under special regulation

C.

imported and then re-export

D.

kept for further processing before sales

Correct answer is C

No explanation has been provided for this answer.

3,117.

What document is required when a country imposes ad valorem import duties on goods?

A.

A mail transfer

B.

A shipping note

C.

A billb of lading

D.

A consular invoice

Correct answer is B

No explanation has been provided for this answer.

3,118.

A machine which enable s sales without the physical presence of a sales attendant is a

A.

computer machine

B.

vending machine

C.

telex machine

D.

fax machine

Correct answer is B

No explanation has been provided for this answer.

3,119.

If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales?

A.

23.3%

B.

33.3%

C.

50.0%

D.

66.6%

Correct answer is B

No explanation has been provided for this answer.

3,120.

The form of capital which is easily transferred into the form desired is known as?

A.

working capital

B.

liquid capital

C.

circulating capital

D.

capital employed

Correct answer is C

No explanation has been provided for this answer.