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.

2,111.

An order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called?

A.

Indent

B.

Open indent

C.

Closed indent

D.

Export order

E.

Import order

Correct answer is B

No explanation has been provided for this answer.

2,112.

A cheque dated 5/8/91 was dishonoured because it was a?

A.

Certified cheque

B.

Marked cheque

C.

Specially crossed cheque

D.

Post-dated cheque

E.

Stale cheque

Correct answer is D

No explanation has been provided for this answer.

2,113.

A deduction made by a wholesaler from the catalogue price and which represents a retailer's profit margin is called?

A.

Cash discount

B.

Deferred discount

C.

Trade discount

D.

Quantity discount

E.

Cash on delivery

Correct answer is C

No explanation has been provided for this answer.

2,114.

A cheque that is drawn in the name of a bank instead of the account holder's name is called?

A.

Bank statement

B.

Bill of exchange

C.

Specially crossed cheque

D.

Certified cheque

E.

Bank draft

Correct answer is E

No explanation has been provided for this answer.

2,115.

A modern method of retailing whereby customers can make their purchases without the help of an assistance or cashier is called?

A.

Impulse buying

B.

One-step-shopping

C.

Self service

D.

Automatic vending

E.

Auction sales

Correct answer is D

No explanation has been provided for this answer.