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.
N320
N350
N500
N800
Correct answer is D
Closing stock for the year of an accounting period is also regarded as unused stock.
The principle of subrogation stated that
An insured person should be indemnified to the time of the amount insured
An insurance company constant in lace of the insured in dealing with third party.
Only a person who is likely to suffer loss hold take out an insurance cover
There must be accuse connection between the actual loss suffered and risk insure
Correct answer is B
The option is in line with the principle of subrogation
Vertical integration
Horizontal integration
Forward Integration
Background integration
Correct answer is A
This integration involves the coming of two or more firms at different production stage in the same industry. The production of wool is one stage in the production of cloths while spinning and transformation of the wool into clothes is another stage in the production of clothes
The term 4 net 7 on an invoice means that
4% surcharge will be made unless payment is made within seven days
4% discount will be allowed on the price charged only if the good are bought within seven days
4% discount will be allowed on the price charge if payment is made after seven days
4% discount will be allowed on the price charged if payment is made price charged if payment is made price charged if payment is made within seven days.
Correct answer is D
The discount is allowed to encourage seller prompt payment for the goods bought by the buyer.
Natural Environment
Cultural environment
Economic environment
Demographic Environment
Correct answer is D
Demographic environment that put into consideration the composition of the population of the consumers, it determines the quantity of goods to be produced.