Commerce Questions for SS1 to SS3

What is the primary function of commerce?

• To produce goods and services

• To distribute goods and services

• To facilitate the exchange of goods and services

• To provide services

Which of the following is an example of a retailer?

• Manufacturer

• Wholesaler

• Consumer

• Shopkeeper

What is the term for the movement of goods from one place to another?

• Transportation

• Storage

• Insurance

• Communication

Which of the following is an example of a document used in commerce?

• Invoice

• Receipt

• Both A and B

• Neither A nor B

What is the purpose of insurance in commerce?

• To facilitate trade

• To provide finance

• To protect against loss or damage

• To transport goods

Which of the following is a type of bank account?

• Current account

• Savings account

• Both A and B

• Neither A nor B

What is a cheque?

• A document that shows payment has been made

• A document that orders a bank to pay a certain amount

• A document that shows goods have been delivered

• A document that shows goods have been ordered

Which of the following is an example of a wholesaler?

• Manufacturer

• Retailer

• Consumer

• Distributor

What is the term for the sale of goods in bulk?

• Retail trade

• Wholesale trade

• Foreign trade

• Home trade

Which of the following is a characteristic of a partnership?

• Limited liability

• Unlimited liability

• Single ownership

• Separate legal entity