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.

491.

Goods that are not useful by themselves, but help in the production of other desired goods are called ....... goods.

A.

capital

B.

convenience

C.

giffen

D.

industrial

E.

specialty

Correct answer is A

No explanation has been provided for this answer.

492.

An already existing line of product is advertised in order to

A.

build brand recognition

B.

develop customers’ awareness

C.

entertain customers

D.

introduce a price deal

E.

retain old customers

Correct answer is E

No explanation has been provided for this answer.

493.

The document usually sent to each customer by the bank periodically showing the balance outstanding in an account is known as

A.

balance sheet

B.

petty cash voucher

C.

receipt

D.

statement of account

E.

voucher

Correct answer is D

No explanation has been provided for this answer.

494.

Which insurance principle indicates that only the person who might suffer financial loss will be allowed to take out insurance?

A.

indemnity

B.

insurable interest

C.

pooling of risks

D.

subrogation

E.

uberrimae tides

Correct answer is B

No explanation has been provided for this answer.

495.

What is a characteristic of a public limited company?

A.

The dividend is shared equally

B.

Shares are not dealt with in the stock exchange

C.

Shares are offered freely to members

D.

The liabilities are not limited

E.

There is no limit to the number of members

Correct answer is E

No explanation has been provided for this answer.