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.
The major difference between insurance and assurance is that while insurance
takes care of uncertainty, assurance takes care of risks
takes care of risks , assurance takes care of uncertainty
hinges on probabilities, assurance is based on possibilities
is about indemnity, assurance is about life in the future
Correct answer is C
No explanation has been provided for this answer.
Pooling of risk in insurance means that?
compensations are paid out of a common fund
two people can pool their risks to be insured
two insurance companies can buy two policies
insurance companies should encourage taking risks.
Correct answer is A
No explanation has been provided for this answer.
A factor necessary for siting a warehouse is nearness to
raw materials
labour
capital
consumers
Correct answer is D
No explanation has been provided for this answer.
Warehousing is a productive function because it increase the
quantity of goods
utility of goods
quality of goods
price of goods
Correct answer is A
Warehousing allows for timely delivery and optimized distribution, leading to increased labor productivity and greater customer satisfaction. With warehousing, producers can produce as much goods as the market require, store them and distribute when the demand for it arises.
Bank Giro is a method of settling debt from a
customer to a bank
bank to customer
customer to another
bank to another
Correct answer is A
No explanation has been provided for this answer.