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 distinguishing characteristics of a limited liability company is that it
is a collection of many sole proprietors
is a multiple partnership
can sue and be sued
has limited resources
Correct answer is C
No explanation has been provided for this answer.
A demonstration of social responsibility by a business is the payment of
taxes to government
dividends to shareholders
interests on loans
premium on insurance
Correct answer is A
No explanation has been provided for this answer.
The production process that combines two or more raw materials into one end product is
conditioning
blending
merging
synthesis
Correct answer is B
No explanation has been provided for this answer.
extractive
manufacturing
constructive
constructive
Correct answer is B
No explanation has been provided for this answer.
Commerce is defined as the study of how
man utilizes the resources in his physical environment
man produces, distributes and consumes his goods and services
man buys, sells and distributes goods and services
raw materials are changed into finished goods
Correct answer is C
Generally, commerce refers to the exchange of goods, services or something of value, between businesses or entities. It is the activity of buying and selling, especially on a large scale.