Commerce Past Questions And Answers
1321
The main advantage of a sole trader is the freedom to?
- A. employ anyone he likes
- B. take quick decision
- C. seek advise from any source
- D. plough all the profits
1322
In marine insurance, the deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
- A. a constructive loss
- B. a partial loss
- C. a general average loss
- D. a total loss
1323
Who among the following cannot be regarded as an itinerant trader?
- A. Gypsy
- B. Barrow toy
- C. Pediar
- D. Stall owner
1324
The fixed and current assets of a business are called
- A) Called - up capital
- B) Capital employed
- C) Paid - up capital
- D) Authorized capital
1325
Which of the following is a feature of Co-operative Societies?
- A. Each member has several votes during meetings
- B. Profits are shared on the basis of shares held
- C. All members have equal votes during meetings
- D. Members are not involved in running the business
1326
What document is required when a country imposes valorem import duties on goods?
- A. mail transfer
- B. shipping note
- C. bill of lading
- D. consular invoice
1327
When a customer writes a cheque to withdraw cash from his current account, he is both the?
- A. Drawer and the Payee
- B. Drawee and the Payee
- C. Drawer and the Debtor
- D. Drawer and the Creditor
1328
The market for short term security is called?
- A. commodity market
- B. discount market
- C. money market
- D. stock market
1329
When a country's total visible and invisible exports are more than its visible and invisible imports, it has?
- A. favourable balance of payments
- B. favourable balance of trade
- C. unfavourable balance of trade
- D. unfavourable balance of payment
1330
One of the functions of a central bank is to
- A. perform supervisory role among all the banks in the country
- B. provide the means of payment to individuals
- C. ensure the smooth transfer of shares
- D. accept private deposits