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.
Insurance against burglary is an example of
indemnity insurance
fidelity guarantee insurance
non-insurable risk
non-indemnity insurance
Correct answer is A
Indemnity insurance is a contractual agreement in which one party guarantees compensation for actual or potential losses or damages sustained by another party.
Endowment policy in insurance business is an aspect of
accident insurance policy
fidelity guarantee insurance policy
motor vehicle insurance policy
life assurance policy
Correct answer is D
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death.
Tourists with no fixed address in a town may receive their letters from post office through a
poste restante
parcel post
private mail bag
recorded delivery
Correct answer is A
Poste Restante is an incredibly useful way of getting post and mail sent to you when you are traveling or setting up in new country. Poste Restante lets you have an address before you have a permanent residence. Poste Restante lets you have your post delivered to a post office of your choice.
an invoice for #200
a debit note for #2,00
a credit note for #1,800
a debit note for #1,800
Correct answer is D
No explanation has been provided for this answer.
In response to an inquiry from a customer, a wholesaler is expected to send back
a consignment note
an order
a qoutation
an advice note
Correct answer is C
A document sent to a potential customer offering to sell goods or services at a certain price, under specified conditions.