Be ZIMBABWE SCHOOL EXAMINATIONS COUNCIL General Certificate of Education Ordinary Level COMMERCE 7103/2 PAPER 2 NOVEMBEK 2012 SESSION REPLACEMENT PAPER 2 hours Additional materials: ‘Answer paper TIME 2 hours INSTRUCTIONS TO CANDIDATES Write your name, Centre number and candidate number in the spaces provided on the answer paper/answer booklet. Answer any four questions. Write your answers on the separate answer paper provided. Ifyou use more than one sheet of paper, fasten the sheets together. INFORMATION FOR CANDIDATES The number of marks is given in brackets { ] at the end of each question or part question. ‘This question paper consists of 3 printed pages and 1 blank page. Copyright: Zimbabwe School Examinations Council, N2012. (|7IMSECN2012 \ [Turn over2 1 (@)_—_Outline the advantages of division of labour to the worker. [8] (b) Explain the term trade. 12) 2 @_—_ What are commodity markets? iy (b) List any six advantages of hire purchase to the buyer. {61 (© Distinguish between departmental stores and supermarkets {10} 3 (@ _ Whydo countries impose trade restrictions? {6] (b) Explain three purposes and four contents of the following documents: @ indent, m (ii) consular invoice. 7 4 (@)_ The following information refers to Diamond Stores for the year ending 31 December 2010, Average stock at hand $30 000 Gross profit as a % of tumover 25% Rate of stocktum, 5 Calculate, showing all working; (@) — tumover, (4 Gi) gross profit. pl (b) State six factors that a trader considers when siting a warehouse. {6 (©) Differentiate between cash discount and trade discount, [8] (a) State and explain the most appropriate type of service given by a commercial bank in each of the following cases: (i) atrader who wishes to deposit cash after normal banking hours, [4] Gi)__a businessman who wishes to pay salaries to his employees, (4 Gil) a sole trader who needs additional short term capital for the purchase of stocks. (41 ‘nova N2012(b) fa) ) © (@) (b) © @) b) © @) ) 3 With the aid of diagrams, explain the differences between general crossing and special crossing. What is the role of insurance assessors, Why is it important to provide truthful information concerning a risk to be covered? Describe the procedure involved when making an insurance claim. What factors would a trader consider when choosing an efficient mode of communication? State, with reasons, the most appropriate method of communication to be used in each of the following circumstances: (@ Edgars Stores sending statements of accounts to its clients, (i) a’ manufacturer undertaking marketing research Describe the importance of using telex in communication, Outline the disadvantages of pipelines Describe the importance of freightlinets. Identify the role played by forwarding agents. State and explain any five consumer rights. What action has been taken by the Zimbabwean Government in order to protect consumers when buying goods and services? ‘ose. N2012 [8] (6) (6] (8) (6)