SS3 third Term commerce past questions and answers

SS3 third Term commerce past questions and answers

SS3 Commerce questions with options and answers:

Question: What is the purpose of a feasibility study in business planning?

A) Evaluate the financial performance of a company

B) Determine the technical viability of a project

C) Conduct market research

D) Monitor employee satisfaction

Answer: B) Determine the technical viability of a project

Question: What is the role of a supply chain in business operations?

A) Manage financial transactions

B) Coordinate the flow of goods and services from production to consumption

C) Analyze market trends

D) Develop advertising campaigns

Answer: B) Coordinate the flow of goods and services from production to consumption

Question: In financial accounting, what does the term "amortization" refer to?

A) Allocation of the cost of an intangible asset over its useful life

B) Increase in the value of a tangible asset

C) Record of daily transactions

D) Evaluation of market trends

Answer: A) Allocation of the cost of an intangible asset over its useful life

Question: What is the purpose of a product life cycle in marketing?

A) Analyze employee performance

B) Evaluate the profitability of a business

C) Track the stages of a product from introduction to decline

D) Document company history

Answer: C) Track the stages of a product from introduction to decline

Question: What does the term "venture capital" refer to in the context of business financing?

A) Funds invested in well-established companies

B) Investment in government bonds

C) Capital provided to startup businesses with high growth potential

D) Stock market fluctuations

Answer: C) Capital provided to startup businesses with high growth potential

Question: What is the significance of the term "trade deficit" in international economics?

A) Surplus of exports over imports

B) Excess of government spending

C) Situation where imports exceed exports

D) Rise in the value of a country's currency

Answer: C) Situation where imports exceed exports

Question: In organizational behavior, what is the role of a team leader?

A) Conduct market research

B) Manage financial transactions

C) Facilitate collaboration and achieve team goals

D) Develop advertising campaigns

Answer: C) Facilitate collaboration and achieve team goals

Question: What is the purpose of a profit and loss statement in financial reporting?

A) Summarize income and expenses over a specific period

B) Track changes in market share

C) Evaluate employee performance

D) Determine the value of assets

Answer: A) Summarize income and expenses over a specific period

Question: What is the concept of "elastic demand" in economics?

A) Demand that remains constant regardless of price changes

B) Demand that is sensitive to price changes

C) Demand for luxury goods only

D) Fluctuations in market demand

Answer: B) Demand that is sensitive to price changes

Question: What is the purpose of a code of ethics in business organizations?

A) Evaluate market trends

B) Ensure compliance with legal regulations

C) Monitor employee satisfaction

D) Develop advertising campaigns

Answer: B) Ensure compliance with legal regulations

Question: In international trade, what does the term "dumping" refer to?

A) Selling goods at below-market prices in another country

B) Trading goods without government regulations

C) Excessive production of goods

D) Importing goods without proper documentation

Answer: A) Selling goods at below-market prices in another country

Question: What is the significance of the term "merger" in business?

A) Division of a company into separate entities

B) Combination of two or more companies to form a new entity

C) Sale of company assets

D) Increase in the market value of shares

Answer: B) Combination of two or more companies to form a new entity

Question: What is the purpose of a SWOT analysis in strategic planning?

A) Analyze employee performance

B) Identify strengths, weaknesses, opportunities, and threats

C) Evaluate financial statements

D) Document company history

Answer: B) Identify strengths, weaknesses, opportunities, and threats

Question: In financial management, what does the term "cash budget" represent?

A) Analysis of market trends

B) Projection of expected cash inflows and outflows

C) Evaluation of employee satisfaction

D) Tracking changes in stock prices

Answer: B) Projection of expected cash inflows and outflows

Question: What is the role of a trademark in business?

A) Document company history

B) Establish a unique identity for a product or service

C) Monitor employee performance

D) Evaluate market trends

Answer: B) Establish a unique identity for a product or service

Question: What does the term "ceteris paribus" mean in economic analysis?

A) All other things being equal

B) Constantly changing market conditions

C) Government intervention in the economy

D) The impact of inflation on prices

Answer: A) All other things being equal

Question: What is the purpose of the General Agreement on Tariffs and Trade (GATT)?

A) Regulate environmental policies

B) Facilitate global communication

C) Promote international trade through tariff reduction

D) Monitor employee satisfaction

Answer: C) Promote international trade through tariff reduction

Question: In financial accounting, what does the term "auditing" involve?

A) Evaluation of employee performance

B) Examination of financial records to ensure accuracy and compliance

C) Analysis of market trends

D) Projection of future revenues

Answer: B) Examination of financial records to ensure accuracy and compliance

Question: What is the purpose of a cash conversion cycle in working capital management?

A) Evaluate market trends

B) Measure the time it takes to convert inventory into cash

C) Monitor employee satisfaction

D) Assess environmental sustainability

Answer: B) Measure the time it takes to convert inventory into cash