(a) Differentiate between industry and commerce.

(b) List and explain four activities of those engaged in commercial occupations

Explain five benefits that would be derived and five losses that would be suffered when a sole trader admits other partners. 
 

(a) What is personal selling?

(b) List and explain six media available to an advertiser of goods and services

Explain the following terms:

(a) fixed assets

(b) certificate of trading

(c) dividend

(d) authorized capital

(e) promoters
 

Describe each of the following documents and state one use of each:

(a) consular invoice

(b) bill of lading

(c) certificate of origin

(d) bill of sight