Earlyface

Commerce OBJ: 
1-10: CAAAACCAAC 
11-20: DBBABBABAD 
21-30: BCBACCACAD 
31-40: DCBADDDACB 
41-50: BABBCCCAAA 

THEORY ANSWERS:
(No 1)
i) invoice: it is a form in which the seller lists the items sold to a buyer.it is issued along with the goods.
ii) advice note:it is from seller warehouse to buyer as the goods are being dispatched for record purpose
iii) consignment note: it is a document sent along with the goods which the buyer signs to take delivery of the goods
iv) proforma invoice:it is issue when goods are sent on inspection or when payment is required before goods are supplied
v) debit note:it is a document that allow the seller to correct an error of undercharging and to acknowledge underpayment.

(No 2a)
-Visible trade refers to the trade in items that can be seen,touched and felt
-invisible trade refers to trade items that cannot be seen,felt or touched
(2b)
i) imposition of high tarrif rate: these are excessive duties charged on imports to discourage the importation of goods into a country
ii) imposition of high import duties: these are high taxes imposed by custom authorities on imported goods
iii) ban/prohibition: this involves outrightly disallowing certain goods from entering into a country.

(No 4a)
Trade is the buying and selling of goods and services in a home or foreign market
(4b) 
i) advertising: it stimulate the demand for goods and services by informing the public about the uses of such goods and where to obtain them
ii) insurance: it enable the traders to obtain compensation in the event losses.
iii) banking:it provide capital to start a business by acquiring the necessary premises,equipment and goods
iv) transportation: it involve movement of people,goods and materials from one place to another.it makes goods get to the buyers fastly.

(No 5)
i) insurable interest: the insured must stand to suffer financial losses if the risk insured against occurs.
ii) utmost good faith: the insure and insurer must declare all relevant information
iii) indemnity:the insured should be compensated by placing him in his former position before suffering the loss
iv) proximate cause: there must be close link between the risk insured and loss suffered
v) pooling of risk: compensation should be paid to those who suffer losses from the contribution made into a common fund by a number of insured.

(No 10)
i) economic environment: this include the economic system,income level,income distribution,availability of human and natural resources.
ii) industrial environment: this refers to availabilty of competitors as well as their nature and activities
iii) socio-cultural environment: this include the culture,customs,religion and way of life of the people
iv) technological environment: this refers to the level of technology which determines the volume and quality of production
v) political and legal environment: this include the political system,government polities and legislation.



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[Answer 5 questions]
(1.) explain the main purpose of any 5 of the
following documents:
(a)invoice
(b) advice note
(c)consignment note (d)proforma invoice
(e)consular invoice
(f)debit note

Real Commerce OBJ Answer.
1-10)Cbabacccbc
11-20)dcbacbdbad21-30)ccaadcaaad31-40)dcbaddaadd41-50)cabbcccaac

tanx veeeeery much. Da essay pls!

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