Form 2 October 2020 Mid Month Assessement

___________ is a bill for a service or product that has been supplied to a customer. It is only used for credit sales; a sale that has been paid for when it was ordered will be recognized with ____________.

• An Invoice, A Receipt.

• An Order, An Invoice.

• A Proforma Invoice, A Receipt.

• A Receipt, An Advice Note.

For a very specific inquiry, the seller would respond to a buyer by sending a _________________ which is a list of all items requested and their prices or a ____________________ gives all the information that is pertinent to the product or service being sold, such as price, delivery charges and product information.

• Price List, Catalogue.

• Price List, Quotation.

• Catalogue, Quotation.

• Catalogue, Price List.

Which of the following documents are written by the buyer to the seller? (Select all that apply)

• An Order

• An Advice Note

• A Letter of Inquiry

• A Receipt

This note is given at the same time that products are delivered and they enable the customer to check that what they have received is correct and what they have paid for.

• Packaging Note

• Consignment Note

• Delivery Note

• Acknowledgement Note

Which list below contains examples of large scale retailers only? (Select all that apply).

• Rack Jobbers, Cash and carry Wholsalers, Chain Stores, Tied Shops.

• Super Markets, Hyper Markets, Open Air Markets, General Line Wholesalers.

• Departmental Stores, Mobile Wholesalers, Rack Jobbers, Specialized Wholesalers.

• General Merchandise Wholesalers, Regional Wholesalers, Hyper Markets, Chain Stores.

Which list below indicates the correct order of business units from the one with the smallest number of individuals in terms of ownership to the highest.

• Sole Proprietorship, Co-operatives, Partnerships, Limited Liabilty Companies.

• Sole Proprietorship, Partnerships, Co-operatives, Limited Liabilty Companies.

• Sole Proprietorship, Partnerships, Limited Liabilty Companies, Co-operatives.

• Sole Proprietorship, Co-operatives, Limited Liabilty Companies, Partnerships.

What name do you give to a group of related companies that agree to work together in order to control output, prices and markets of their goods and services.

• Holding Company

• Cartel

• Privatization

• Absorbtion

• Merger

What is the changing of state owned corporations to public limited companies.

• Holding Company

• Cartel

• Privatization

• Absorbtion

• Merger

___________ is where one business grants another the rights to manufacture, distribute or provide it's branded products using the name of the business that has granted the right.

• Franchising

• A Take Over

• Privatization

• Absorption

Companies, just like sole proprietorships require capital to start and run their businesses. Select all the sources of capital available for limited liability companies from the list below.

• Shares.

• Debentures.

• Bank Overdraft.

• Leasing and renting.

• Goods bought on credit.