When the cost of sales is divided by the average stock, the result is
- A. gross profit
- B. net profit
- C. rate of turnover
- D. working capital
Examples of current assets are
- A. cash and trade debtors
- B. cash and trade creditors
- C. trade debtors, trade creditors and cash
- D. trade creditors and trade debtors
The issue of prospectus by a company is an invitation to members of the public to
- A. subscribe to the company's shares
- B. attend the company's Annual general Meeting
- C. buy the company's products
- D. attend the company's board meeting
An association formed by computer distributors to safeguard and promote their interest is a
- A. chamber of commerce
- B. cooperative society
- C. trade association
- D. trade union
Which of the following is not a function of a consumer association?
- A. Ensuring that consumers buy quality goods
- B. Educating consumers on their rights
- C. Penalizing importers of fake goods
- D. Ensuring that fair prices are charged
The document issued by a public company allowing it to commence business is the
- A. Articles of Association
- B. Certificate of Incorporation
- C. Memorandum of Association
- D. Certificate of Trading
A business unit in which savings of members are lent to others is a
- A. consumer cooperative society
- B. producer cooperative society
- C. credit and thrift society
- D. wholesale cooperative society
Which of the following activities is not an example of the extractive industry?
- A. weaving
- B. quarrying
- C. hunting
- D. fishing
A form of money which was not used in the early days of trade is
- A. tobacco
- B. metal bars
- C. cowries
- D. coins
The type of occupation that a broker belongs to is
- A. commercial
- B. construction
- C. extraction
- D. manufacturing
Commerce is defined as
- A. buying and selling of goods and services only
- B. all activities in the distribution and exchange of goods and services
- C. all activities involved in the production of goods and services
- D. transporting and warehousing of goods only
The law by which a seller transfers the property in goods to a buyer at an agreed price is the
- A. Weights and Measure Act
- B. Trade Description Act
- C. Sale of Goods Act
- D. Foods and Drugs Act
Advertisement which is geared towards a particular audience is
- A. direct advertising
- B. indirect advertising
- C. mass advertising
- D. persuasive advertising
Which of the following is not a right of a consumer?
- A. Right to a fair hearing
- B. Right to buy on credit
- C. Right to obtain replacement
- D. Right to safe product
An undertaking to repair a customer’s vehicle for a certain period after it has been sold is
- A. after-sales service
- B. marketing mix
- C. market segmentation
- D. sales promotion
The marketing concept emphasizes
- A. sales of goods directly to customers
- B. use of promotional tools to stimulate sale
- C. mass production of goods
- D. consumer's satisfaction at a profit
Consumers could be encouraged to purchase a company’s product through
- A. research
- B. planning
- C. distribution
- D. advertisement
The commission on a postal order is
- A. tariff
- B. poundage
- C. brokerage
- D. fee
An advantage of rail transport is that it
- A. is less expensive to maintain
- B. is not prone to delays
- C. carries bulky and heavy goods
- D. enhances door-to-door delivery
Payment made to a carrier for transportation of goods is
- A. freight
- B. fee
- C. fare
- D. duty
Sea vessels that do not operate on regular times and routes are
- A. tramps
- B. ocean liners
- C. container ships
- D. ferries