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 place where dutiable goods are kept until duties on them are paid is known as
private warehouse
public warehouse
bonded warehouse
manufacturer's warehouse
Correct answer is C
A bonded warehouse is a custom operated warehouse, where goods whose excise duties are yet to be paid are kept. They are owned by the government
Which of the following is not a function of an entrepreneur?
Co-ordination
Risk-bearing
Entertaining
Making decision
Correct answer is C
An entrepreneur does not perform the role of entertainment.
post restante
recorded delivery
speed post
express service
Correct answer is A
Poste restante is a service operated by post offices in which letters and packages are kept at a particular post office until their recipients collect them. In this case, a personal home/office address is not required.
Advice note
Delivery note
Credit note
Consignment note
Correct answer is A
An advice note is a document that confirms the receipt and dispatched of customer order.
group policy
whole life policy
endowment policy
term policy
Correct answer is D
Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified "term" of years. In this type of insurance policy, the insurance company is not obligated to compensate the policy holder if they do not die within the time frame covered in the agreement