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 place where bankers meet daily to exchange cheques drawn on each other is known as
capital market
money market
clearing house
discount houses
Correct answer is C
The Clearing House is a central place or office where the representatives of all the banks in a particular area meet and exchange cheques and other instruments which ensures that a payee receives the full value of a cheque or standing order.
When a ship overstays the allowed number of days at the port, it is made to pay
interest
tariff
demurrage
commission
Correct answer is A
Demurrage is a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.
Trade Association
Trade Union
Chamber of Commerce
Consumer's Association
Correct answer is A
Trade association is a voluntary organization of independent business units in the same branch of industry. It aims to protect their collective interests, especially in negotiations with governments and trade unions.
recorded delivery service
post restante
express delivery service
business reply service
Correct answer is C
No explanation has been provided for this answer.
A business obtains part of its short-term capital from
bonds
debentures
trade credit
ordinary shares
Correct answer is C
Trade credit is an essential tool for financing growth. Trade credit is the credit extended to you by suppliers who let you buy now and pay later. Any time you take delivery of materials, equipment or other valuables without paying cash on the spot, you're using trade credit.