Cash is said to be legal tender because it?
can be converted into money order
can be offered and accepted for payment
is negotiable
also takes the form of bank draft
is portable
Correct answer is B
No explanation has been provided for this answer.
The excess value of the assets of a business over its liabilities is?
capital owned
working capital
issued capital
liquid capital
reserved capital
Correct answer is E
No explanation has been provided for this answer.
The different between an overdraft and loan is that an overdraft?
does not yield interest
is giving to savings account holders only
yields interest on the customer before it is granted?
yields interest only on the sum drawn
requires no application by the customer before it is granted
Correct answer is D
No explanation has been provided for this answer.
When an insured person admits that he has indemnified, he means that?
the insurance company has accepted his claim
the damaged properties has been recovered
he has paid his premium fully
the insurance company has restored him to his formal positionhe has recovered benefits lost through acting in bad faith
he has recovered benefits lost through acting in bad faith
Correct answer is D
No explanation has been provided for this answer.
A person who sells goods belonging to another person in his own name and receives commission is a?
wholesaler
retailer
sole trader
factor
merchant
Correct answer is D
No explanation has been provided for this answer.