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Commerce Past Questions

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Which of the following takes place when firms producing at different stages in the same industry combine?
  • A. conglomeration
  • B. vertical integration
  • C. horizontal integration
  • D. cartel
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Which of the following groups is paid first when a firm liquidates?
  • A. Preference shareholders
  • B. Debenture holders
  • C. Ordinary shareholders
  • D. Cumulative preference shareholders
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Compulsory dissolution of a business can arise from
  • A. an agreement by the owners
  • B. a declaration by a court of law
  • C. the termination of its life
  • D. an unfavourable economic climtate
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What are fixtures and fittings in a balance sheet?
  • A. liquid capital
  • B. current assets
  • C. fixed assets
  • D. working capital
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Governments impose import duties for the following reasons EXCEPT
  • A. to raise revenue for other services
  • B. to act as a retaliatory measure against other governments
  • C. to discourage the redistribution of income at home
  • D. to protect home industries from external competition
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