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 Digital Versatile Disk is an example of a
transmission control protocol
microprocessor
file transfer protocol
computer storage device
Correct answer is D
DVD is a type of compact disc able to store large amounts of data, especially high-resolution audiovisual material. It is an example of computer storage device
Which of the following computers can be used in weather forecast?
Hybrid computer
Digital computer
Mainframe computer
Analog computer
Correct answer is A
Hybrid computers are computers that exhibit features of analog computers and digital computers. The digital component normally serves as the controller and provides logical and numerical operations, while the analog component often serves as a solver of differential equations and other mathematically complex equations.
The three functional units of a modern computer are
input, processor and output units
processor, FOTRAN and output units
black box, output and input units
basic, COBOL and output units
Correct answer is A
A computer system consists of mainly four basic units; namely input unit, storage unit, central processing unit and output unit. Central Processing unit further includes Arithmetic logic unit and control unit.
A contract which is devoid of legal effect is
void contract
unenforceable contract
voidable contract
valid contract
Correct answer is C
A voidable contract is a formal agreement between two parties that may be rendered unenforceable for a number of legal reasons. Reasons that can make a contract voidable include the following: Failure by one or both parties to disclose a material fact. A mistake, misrepresentation or fraud. Undue influence or duress.
The difference between a factor and a broker is that the former
is licensed to sell goods on auction
has a lien on the goods he possesses
is not in possession of the goods
cannot sell in his own name
Correct answer is B
Factors and Brokers are both and equally agents; but with this difference: the Factor is entrusted with the property which is the subject-matter of the agency; the Broker is only employed to make a bargain in relation to it. This means that, a broker does not take the possession of goods while a factor takes title of the goods