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.

1,541.

The price charged for leasing a ship is known as

A.

way bill

B.

haulage

C.

clean bill

D.

freight

E.

demurrage

Correct answer is D

No explanation has been provided for this answer.

1,542.

Mr Chidi insured his house against fire. The house was destroyed by flood. Which of the following principles prevented him from being compensated?

A.

Uberrimae fidei

B.

Subrogation

C.

Indemnity

D.

Proximate cause

E.

Insurable interest

Correct answer is D

No explanation has been provided for this answer.

1,543.

Which of the following may serve as delivery note?

A.

Debit note

B.

Credit note

C.

Invoice

D.

Advice note

E.

Statement of account

Correct answer is C

No explanation has been provided for this answer.

1,544.

Specialization is possible as a result of

A.

good roads

B.

education

C.

demand for goods

D.

growth in population

E.

exchange

Correct answer is E

No explanation has been provided for this answer.

1,545.

Another name for consignment note is

A.

qoutation

B.

waybill

C.

debit note

D.

receipt

E.

credit note

Correct answer is B

No explanation has been provided for this answer.