A transaction where the buyer of a commodity becomes its legal owner after the payment of the last installment is
- A. a credit sale
- B. factoring
- C. hire purchase
- D. leasing
If a ship overstays its stipulated time at a port, it pays a charge known as
- A. arbitrage
- B. demurrage
- C. dock due
- D. toll
The exchange of goods and services among many countries is
- A. multilateral trade
- B. bilateral trade
- C. counter trade
- D. entrepot trade
The exchange of goods and services among many countries is
- A. multilateral trade
- B. bilateral trade
- C. counter trade
- D. entrepot trade
A grocer invoiced a carton of fish valued at #2,500 for #2,000 only. To correct the error, which of the following documents will be sent to the buyer?
- A. Credit note for #500.00
- B. Debit note for #500.00
- C. Credit note for #2,500.00
- D. Debit note for #2,500.00
A grocer invoiced a carton of fish valued at #2,500 for #2,000 only. To correct the error, which of the following documents will be sent to the buyer?
- A. Credit note for #500.00
- B. Debit note for #500.00
- C. Credit note for #2,500.00
- D. Debit note for #2,500.00
The charges imposed by the government on locally manufactured goods is called
- A. customs duties
- B. excise duties
- C. tariffs
- D. quota
The charges imposed by the government on locally manufactured goods is called
- A. customs duties
- B. excise duties
- C. tariffs
- D. quota
The process of making goods attractive and easy to handle is
- A. branding
- B. merchandising
- C. packaging
- D. labelling
Farmers and all other workers concerned with getting raw materials from the earth are engaged in
- A. commercial occupation
- B. manufacturing occupation
- C. constructive occupation
- D. extractive occupation
Babou Penn, a fisherman says he has all necessary materials to go to sea today, except the captain of his boat . Captain here as a factor of production refers to
- A. enterpreneur
- B. capital
- C. labour
- D. land
Babou Penn, a fisherman says he has all necessary materials to go to sea today, except the captain of his boat . Captain here as a factor of production refers to
- A. enterpreneur
- B. capital
- C. labour
- D. land
Production is defined as
- A. an industrial activity
- B. creation of utilities
- C. the exchange of goods and services
- D. changing of raw materials into finished goods
Which of the following is not a function of commerce?
- A. Facilitates mass production of goods
- B. Assists in raising capital
- C. Creates goods and services
- D. Offers employment
Commerce can be defined as the
- A. exchange of goods and services
- B. distribution and exchange of goods and services
- C. distribution of services at home
- D. export of services