Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.
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Question 1001:
When the cost of sales is divided by the average stock, the result is
Options:
A) gross profit
B) net profit
C) rate of turnover
D) working capital
Show Answer
The correct answer is C .
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Question 1002:
The factors to be considered in setting up retail trade include all except_____
Options:
A) Capital
B) Experience
C) Location
D) Age
Show Answer
The correct answer is D .
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Question 1003:
Use the information below to answer questions 13 and 14
| # |
| Sales | 50,000.00 |
| Debtors | 10,000.00 |
| Cash in hand | 5,000.00 |
| Opening stock | 30,000.00 |
| Creditors | 8,000.00 |
| Purchases | 16,000.00 |
| Overdraft | 12,000.00 |
| Closing stock | 10,000.00 |
Options:
A) #35,000.00
B) #20,000.00
C) #15,000.00
D) #14,000.00
Show Answer
The correct answer is D .
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Question 1004: If a business uses part of its profit to develop the area where it operates, the business is fulfilling its ______
Options:
A) economic responsibilities
B) marketing responsibilities
C) social responsibilities
D) managerial responsibilities
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The correct answer is C .
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Question 1005: A major function of trade association is to _______
Options:
A) assist members to buy cars
B) help individuals to set up small business
C) establish a link among member
D) foster cooperation among members
Show Answer
The correct answer is D .
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Question 1006: The management function of evaluating whether objectives are being achieved is
Options:
A) planning
B) directing
C) organizing
D) controlling
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The correct answer is D .
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Question 1007: DFischarging certian duties by an organization to the public to gain high patronage is a concern of financial resposibility
Options:
A) financial responsibility
B) economic responsibility
C) legal responsibility
D) social responsibility
Show Answer
The correct answer is D .
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Question 1008:
The activities aimed at finding customers needs and satisfaction can be described as
Options:
A) conceptual marketing
B) macro-marketing
C) socio-marketing
D) micro-marketing
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The correct answer is A .
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Question 1009: Rights issue means the
Options:
A) issue of shares to the directors of a company on favourable terms
B) Issue of shares by a company only to the founders of the company
C) right of shareholders to vote on any issue
D) issue of shares to shareholders on favourable terms
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The correct answer is D .
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Question 1010:
A company which another company is a member and control the board of directors or hold more than half of its equity is termed_______
Options:
A) Subsidiary
B) Syndicate
C) Holding Company
D) Parent company
Show Answer
The correct answer is A .