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.
Which of the following statements is TRUE about sea transport?
all ships have specific routes to ply
all ships must be insured at every journey
all ships are insured separately from the crew
all ships normally arrive at their destination with goods
Correct answer is C
No explanation has been provided for this answer.
A pro forma invoice is NOT required when
quoting for the supply of goods
goods are sent on approval
dealing regularly with a customer
final prices are uncertain
Correct answer is C
No explanation has been provided for this answer.
balance of payments
balance of trade
comparative cost advantage
comparative advantage
Correct answer is A
No explanation has been provided for this answer.
The rate at which a country's exports exchange for its imports is called
balance of payments
balance of trade
terms of payment
terms of trade
Correct answer is D
No explanation has been provided for this answer.
What is the major function of the wholesaler?
buying from small-scale producers and selling to exporters
buying in bulk and selling in small quantities
granting of credit facilities to retailers
providing information to manufacturers on market situation
Correct answer is B
No explanation has been provided for this answer.