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 mode of transport involves the use of tramps?
Land transport
Sea transport
Air transport
Pipeline
Correct answer is B
A boat or ship engaged in the tramp trade is one which does not have a fixed schedule
#30,000
#25,000
#20,000
#15,000
Correct answer is B
COGS = Beginning Inventory + Purchases During the Period – Ending Inventory.
Examples of what can be listed as COGS include the cost of materials, labor, the wholesale price of goods that are resold, such as in grocery stores, overhead, and storage.
20,000 + 5,000 = 25000
50%
33%
25%
17%
Correct answer is C
0.25 x 20000 = 5000
#35,000
#25,000
#15,000
#5,000
Correct answer is D
Net profit is the profit after expenses must have deducted
cost price 20000
expenses 5000
20000 + 5000 = 25000
sales price 30,000 - 25000 = 5000
Which of the following ancillary services makes it possible for goods to be where they are required?
Communication
Banking
Transportation
Insurance
Correct answer is C
Transportation is among the more vital economic activities for a business. By moving goods from locations where they are sourced to locations where they are demanded, transportation provides the essential service of linking a company to its suppliers and customers.