(a) State three benefits of a commodity exchange.

(b) Explain two methods of trading in a commodity exchange.

(c) State four requirements for trading in a commodity exchange

(a) List six advertising media used in business.

(b) What is personal selling?

(c) State four advantages and two disadvantages of personal selling 

Country X is facing a situation where its total payments to other countries are greater than its total earnings from abroad.

(a) State the term that relates to the above situation.

(b) Explain six measures the country could take to correct the situation 

(a) State four services rendered by courier companies.

(b) State three advantages and three disadvantages of rail transport

The following information was extracted from the books of Jinka Enterprises as of 31st August 2015

15 cartoons of sweets at N 2,000 per carton.
25 cartons of milk at 4,000 per carton.
15 cartons of sugar 3,000 per carton.
17 cartons of soap at x5,000 per carton

The following payments were made:
Rent and rates
Salaries and wages
Fuel
Electricity
A cash discount of 6% and a 10% trade discount were allowed if payment was made within 7 days.

i. Calculate how much cash was paid for the goods bought if payment was made within 7 days.

ii. If all the goods were sold at a mark up of 20% determine the selling price.

iii. Calculate the value of the newt profit made.