Commerce Past Questions and Answers

An activity involving buying, selling, distribution of goods and services is known as

A Trade
B Marketing mix
C Exchange
D Commerce

Question 3272:

Which of the following arrangement of documents is the correct sequence as used in the retail trade? i. Quotation ii. Enquiry iii.Order iv Invoice

A I,ii,iii,iv
B Ii,i,iii,iv
C I,iv,iii only
D I,iii,iv only

Question 3273:

Mr Lou who assured his life with XYZ Assurance Company, was involved in an accident and had a broken leg; the sum of #80,000 was paid to Mr Lou for his broken leg. The money received is known as

A Compensation
B Commission
C Premium
D Indemnity

Question 3274:

The size of of profit of a business is measured by the

A Closing stock
B Opening stock
C Total purchases
D Rate of turnover

Question 3275:

Industrial occupation does not involve the

A Growing and extraction of raw materials
B Use of machinery
C Construction and manufacturing of goods
D Movement of people and goods