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Wednesday, 08 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 3351:
In a hire purchase contract, the customer becomes the legal owner of the goods by
  • A Paying the last installment
  • B Paying the first installment
  • C Taking possession of the goods
  • D Paying half the purchase price
View Answer & Explanation
Question 3352:
Which of the following is engaged in commercial occupation?
  • A A brick layer
  • B An engineer
  • C An insurance broker
  • D A barber
View Answer & Explanation
Question 3353:
"Net 3 months" on an invoice means the buyer will
  • A Pay interest after 3 months
  • B Gets discount if he pays within 3 months
  • C Pay full invoice amount after 3 months
  • D Have discount if he pays after 3 months
View Answer & Explanation
Question 3354:
The ratio between a country's exports and her imports prices is the
  • A Balance of trade
  • B Balance of payments
  • C Terms of trade
  • D Exchange rate
View Answer & Explanation
Question 3355:
The charge paid to a ship owner for the unused part of a ship is known as
  • A Penalty
  • B Dock dues
  • C Dead freight
  • D Demurrage
View Answer & Explanation