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.
A direct service is rendered by
State counsels
Civil servants
Police
Family doctor
Correct answer is D
Option D is the correct answer because a family doctor is rendering a private service to the family and paid for by the family. Options A, B and C are not correct because the service they rendered is paid for by the government from taxes paid by member of the public
Which of the following best describes an invoice?
Contractual agreement for the sale of goods
Document specifying quantity, description, prices and total value of purchase .
Receipt containing necessary information about the goods.
Letter specifying the contractual sales of goods between two parties
Correct answer is B
an invoice is a document sent by the seller to the buyer showing the full details of gods sold such as quantity, description, price, discount and the total amount t o be paid.
Not yet been issued
Been applied for but not issued
Not been paid-up
Been issued but have not been paid-up
Correct answer is A
Of the 100 million shares, 50 million has been issued and fully paid, this means that the remaining part of the shares has not been issued.
The document that gives an importer freehand to obtain goods form any manufacturer is
A closed indent
A consular invoice
A freight note
An open indent
Correct answer is D
Indent is a document which allows the importer to order goods from the exporter through his agent. An open indent gives the agent a free hand in obtaining the goods from any source.
Product concept
Marketing concept
Distribution concept
Price concept
Correct answer is B
The marketing concept is the belief that companies must assess the needs of their consumers first and foremost. Based on those needs, companies can make decisions in order to satisfy their consumers' needs, better than their competition.