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.
Most foreign trade transaction are paid for through the use of
central bank cheques
bank drafts drawn by commercial banks on their foreign branches
irrevocable and confirmed letters of credit
letters of credit authenticated by the embassies of the respective countries
Correct answer is C
No explanation has been provided for this answer.
Goods imported into a country for the purpose of re-exporting attracts a rebate known as
customs draw back
export royalty
incentive
export rebate
Correct answer is A
No explanation has been provided for this answer.
In the channel of distribution, which of the following sets is entirely made up of middlemen?
Wholesalers, retailers and agents
Manufacturers, consumers and retailers
Wholesalers, agents and consumers
Retailers, manufacturers and wholesalers
Correct answer is A
No explanation has been provided for this answer.
N 155 000
N 95 000
N 50 000
N 30 000
Correct answer is B
No explanation has been provided for this answer.
Profit that is expressed as a percentage of the cost of goods sold is remark-upferred to as
margin
mark-up
gain percent
gross profit
Correct answer is B
No explanation has been provided for this answer.