FORM TWO COMMERCE NECTA 2016

A wholesaler who operates on a very large scale business and supplies goods to retailers in all parts of the country is known as:

  1.   nationwide wholesaler
  2.  specialized wholesalers
  3. general wholesaler
  4.  regional wholesalers
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 Which of the following presents a disadvantage of barter system?

  1.   Double coincidence of wants
  2.  Divisibility
  3.  Standard of deferred payments
  4. Indivisibility
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(iii)       An official document used to correct undercharge of an invoice is called

  1.  debit note     
  2.  credit note
  3.  consignment note 
  4.  delivery note
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(iv)     Which of the following group presents a broad classification of occupations ?

  1. Trade and production
  2. Industrial, commercial and tertiary.
  3.  Extractive, manufacturing and constructive industries 
  4. Trade, aids to trade and industrial.
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(v)       Prices below equilibrium price reflect:

  1. excess demand
  2. excess supply 
  3.  decrease in demand D
  4. increase in supply.
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(vi)     An agent who sells goods of his principal in his own name is called

  1.  commission agent
  2.  broker
  3.   factor
  4.  del-credere agent
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(vii)   Which of the following presents the main feature of multiple shops?

  1.  Many shops selling different kind of goods owned by one       person
  2. Many shops selling the same kind of goods and owned by one person
  3.  Many shops under one building selling different kind of goods
  4. Many shops selling similar products from different producers
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(viii)Examples of free goods are

  1. Tanzania Broadcasting, ITV and Star TV
  2. refrigerator, tractors and tailoring machine 
  3.  roads, public hospitals and public schools 
  4. rainfall, sunshine and air.
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(xi) Which ofthe following is not included in commerce flow chart?

  1. Insurance
  2.  Warehousing 
  3.  Production
  4.  Transportation.
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(x) What is the correct formula used to calculate working capital of the business?

  1.  Opening stock plus closing stock divide by two.
  2. Current assets less current liabilities
  3. Current assets less current liabilities plus fixed assets
  4. Total assets less current assets.
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