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.
The term ‘5 Net 7’ on an invoice means that?
5% discount will be allowed on the price charged if payment is made within seven days
5% discount will be allowed on the price charged if payment is made after seven days
5% surcharge will be made unless payment is made within seven days
5% dicount will be allowed on the charged if the goods are bought within seven days
Correct answer is A
No explanation has been provided for this answer.
Bill of exchange
Cheque
Money order
A. Promissory note
Correct answer is A
No explanation has been provided for this answer.
Use the document below to answer question
Okon Etim Esin is the?
debtor
creditor
exporter
importer
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not a veritable source of funds to a public limited company?
government financial grant
advances and loan from banks
internally generated funds
funds from the sale of shares
Correct answer is A
No explanation has been provided for this answer.
A business whose owners enjoys loan facilities on the basis of personal goodwill is a?
commercial bank
thrift society
co-operative society
community bank
Correct answer is B
No explanation has been provided for this answer.