Commerce | Study Mode

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Question 1
A
Asians 
B
Europeans 
C
Americans 
D
Africans 
Explanation.
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By 1900 much of Africa had been colonized by sevenEuropeanpowersBritain,France,Germany, Belgium, Spain,Portugal, and Italy. After the conquest of African decentralized and centralized states, theEuropeanpowers set about establishing colonial state systems.The result was a string of European settlements from present day SENEGAL to the coast of modernNIGERIA. Centuries later thesetradingposts became the bases for Europeancolonialclaims inwestern Africa. Europeantradersreferred to sections of the coast by the main goods traded there: grain, ivory, gold, and slaves.


Correct Option:
B
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Question 2
A
a commercial service 
B
an indirect service 
C
a direct service 
D
a self service 
E
specialized service 
Explanation.
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Indirect services:Indirect service occupationdescribes thoseoccupationswhoseservicesare not for direct consumption by the public. They are not paid directly by the consumers. They are paid by the government from the public tax. They areservicesthat are not personally received by the individual, although they influence but influence them in one way or the other.


Correct Option:
B
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Question 3
A
continuity 
B
expansion 
C
liquidation 
D
re-incorporation 
Explanation.
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Insolvency is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be insolvent.When a business is in such a state, it may eventually be liquidated. that is, the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due.


Correct Option:
C
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Question 4
A
quarrying 
B
carving 
C
mining 
D
agriculture 
Explanation.
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Any processes that involve theextractionof raw materials from the earth to be used by consumers. Theextractive industryconsists of any operations that remove metals, mineral and aggregates from the earth. Examples ofextractiveprocesses include oil and gasextraction, mining, dredging and quarrying. carving is under the manufacturing industry


Correct Option:
B
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Question 5
A
import, export and transportation 
B
trade, communication and warehouse 
C
import, trade and production 
D
trade and auxiliaries to trade 
Explanation.
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Thebranches of commercecomprise two fundamental categories: trade and aids to trade.

Tradeis the process of buying and selling goods and services through the use of some medium of exchange.

Auxiliaries orAids to Tradeare the activities which are necessary for smooth flow of goods from producers to consumers. These activities facilitatetradeby removing various barriers in the buying and selling of goods.


Correct Option:
D
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Question 6
A
defining a company'srelationship with the public 
B
inviting the public to buy a company's shares 
C
governing the affairs of the partnership 
D
regulating a company's internal affairs 
Explanation.
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AMemorandum of Association(MOA) is a legal document prepared in the formation and registration process of a limited liability company to define its relationship with shareholders. (public)


Correct Option:
A
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Question 7
A
increase the quantity of goods demanded 
B
increase the selling price of goods 
C
differentiate goods from other similar goods 
D
enhance turnover of goods 
Explanation.
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Theaim of brandinga product or service is the same everywhere in the world. The majorobjectives of brandingare as follows: Create identification andbrandawareness.


Correct Option:
C
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Question 8
A
berth 
B
warehouse 
C
tarmac 
D
cranes 
Explanation.
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The following are some of the facilities provided by port authorities

  • Cargo handling, stevedoring, warehousing and delivery.
  • Acquisition of cargo handling and operations related equipment.
  • Development andmaintenanceof ports' superstructure.
  • Maintenanceof safety andsecuritywithin the terminal.
  • Towage, mooring, bunkering, ship chandelling and ship repairs

A tarmac isanareaofgroundcoveredwith a hardsurface,esp. theareasof anairportwhereaircraftpark,land, and take off: not a facility provided by the port authority.


Correct Option:
C
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Question 9
A
same amount in words and figure 
B
insufficient fund 
C
general crossing 
D
regular signature 
Explanation.
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7ReasonsWhy YourChequeIsDishonoured

  • Insufficient Funds. Salaries sometimes reach late in accounts leaving insufficient funds in your account which may lead to bouncing ofcheque. ...
  • Irregular Signature.
  • Alterations.
  • Post-datedCheque.
  • StaleCheque.
  • When Payment Is Stopped.
  • Frozen Account.

Correct Option:
B
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Question 10
A
a right issue 
B
bonus issue 
C
private placing 
D
issue by introduction 
Explanation.
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Arightsissueis when shares areoffered to existing shareholders to purchase additional stock shares, known as subscription warrants, in proportion to their existing holdings. Rightsare often transferable, allowing the holder to sell them in the open market.


Correct Option:
A
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