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.
indemnity
insurable interest
proximate cause
subrogation
Correct answer is B
Insurable interest; A principle that states that an insured may not collect more than its own financial interest in property that is damaged or destroyed.
A person who earns extra commission for guaranteeing debts is a
factor
broker
commission agent
del-credere agent
Correct answer is D
A del credere is an agent who guarantees the solvency of third parties with whom the agent contracts on behalf of the principal.
Which of the following will be suitable for hire purchase sale?
Shares
Refrigerator
Shoes
Textile
Correct answer is B
No explanation has been provided for this answer.
Carriage forward on an invoice means
carriage will be paid next time
carriage will be paid by seller
carriage will be paid by buyer
carriage has been paid
Correct answer is C
used to show that the cost of shipping goods will be payed by the buyer
A document used as a polite way of refusing credit is
advice note
quotation
proforma invoice
invoice
Correct answer is C
A pro forma invoice is a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods