Commerce | Study Mode

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Question 1

When the government gives up its ownership and control of a business to individuals, this is known as

nationalization

commercialization

privatization

indigenization

Explanation

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Correct option: C

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Question 2

The reward received by a party in a contract agreement is known as

consideration

acceptance

offer

warranty

Explanation

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Correct option: A

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Question 3

Payment to a ship owner for carrying one's cargo is

demurrage

fare

dock due

freight

Explanation

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Correct option: D

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Question 4

Which of the following is not pre-sale service?

Repair and maintenance work

Providing detailed information about the goods to be purchased

Demonstrating the use and performance of the products to be sold

Setting up facilities for storing the product to be bought

Explanation

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Correct option: A

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Question 5

Which of the following is used to inform the addressee that he has a registered parcel for collection?

Counterfoil

Express label

Slip

Explanation

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Correct option: C

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Question 6

The co-operative society that performs a combination of the functions of other types of cooperatives is called

consumer cooperative

multipurpose cooperative

producer cooperative

thrift and credit cooperative

Explanation

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Correct option: B

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Question 7

That portion of the share capital which the company has asked the shareholders to pay for is known as

authorized capital

paid-up capital

issued capital

called-up capital

Explanation

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Correct option: D

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Question 8

One of the advantages of air transport over other forms of transport is

safety

flexibility

cost

speed

Explanation

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Correct option: D

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Question 9

Which of the following are elements of a valid contract?

Dishcarge and performance

Offer and acceptance

Age and maturity

Promise and capacity

Explanation

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Correct option: B

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Question 10

The last link in the channel of distribution is the

retailer

consumer

wholesaler

producer

Explanation

Explanation not provided, please join discuss, your contributions are welcomed

Correct option: B

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