Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

291.

An arrangement in insurance which provides for the payment of a stipulated sum either at death or the expiration of a stated period is known as ……….

A.

accident

B.

endowment

C.

fire

D.

fidelity

E.

whole life

Correct answer is B

No explanation has been provided for this answer.

292.

From the date of issue, cheques are valid for-----------months.

A.

3

B.

4

C.

5

D.

6

E.

9

Correct answer is D

No explanation has been provided for this answer.

293.

Which of the following is NOT true of a cheque as a means of payment? It

A.

can be made out of a definite payee

B.

is generally acceptable

C.

is safer than carrying cash

D.

is transferable

E.

serves as a proof of payment

Correct answer is B

No explanation has been provided for this answer.

294.

The reply to a letter of inquiry is a/an

A.

advice note

B.

estimate

C.

order

D.

quotation

E.

statement

Correct answer is D

No explanation has been provided for this answer.

295.

Coal mining is an example of

A.

construction

B.

service

C.

extraction

D.

manufacturing

E.

tertiary

Correct answer is C

No explanation has been provided for this answer.