Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Government can borrow money from the public through
the issuing of treasury bills
increasing taxation
increasing the lending rate
establishing more banks
Correct answer is A
No explanation has been provided for this answer.
Trade discount is given to the buyer for
prompt payment
credit purchase
cash purchase
retailer's mark-up
Correct answer is D
No explanation has been provided for this answer.
Status enquiry is necessary when
goods are ordered from a mail order firm
money is withdrawn from a fixed deposit account
granting credit to a new customer
goods areproduced according to specification
Correct answer is C
No explanation has been provided for this answer.
What is the purpose of a debit note? To
reduce the credit in the buyer's account
reduce the debit charged to an invoice
compensate for damaged goods returned
allow for rebate
Correct answer is A
No explanation has been provided for this answer.
A bill of exchange becomes negotiable when it is
accepted
protested
dishonoured
discounted
Correct answer is A
No explanation has been provided for this answer.