IMSU Commerce 2013/2014 Past Questions

Practice each question, then open it to see the full details.

The column which is left unbalanced in a three column cash book is the

A.First
B.Second
C.Third
D.None

Depreciation of an asset can be caused by

A.Socialization
B.Timidity
C.Modernization
D.Monetization

he main divisions of a balance sheet include all except

A.liquid liabilities
B.fixed assets
C.current assets
D.current liabilities

Bad debts are the ones

A.Customer says he will not pay
B.Business says customer may not pay
C.Put in the company's annual report
D.Incurred in bad business times

Bulk purchasing of raw materials and finished goods from the producer refers to ______

A.Wholesale trade
B.Bulk purchasing
C.Discount purchase
D.Large purchase

______ is any legal productive activity in which a person is engaged permanently as a source of livelihood

A.Occupation
B.Driving
C.Teaching
D.Business

_____ are services rendered to the members of the public

A.Direct
B.Indirect
C.Private
D.General

Small scale retailers includes the following except:

A.Roadside traders
B.Market traders
C.Supermarket
D.Urban stores

A store that is owned and controlled by a single firm is

A.Chain store
B.Supermarket
C.Departmental store
D.Large store

Factors considered in setting up a retail business include the following:

A.Capital requirement
B.Source of supplies
C.Type of goods
D.All of the above