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.
A bill holder wishing to dispose of his bills before maturity would be paid?
the discount value of the bill
the present value of the bill
the premium on the bills only
the accumulated interest on the bills
total face value of the bills with the premium
Correct answer is A
No explanation has been provided for this answer.
Which of the following is not a means of effecting payment through current account?
Cheques
Standing orders
Giro system
Credit transfer
Credit card
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a means of money?
Divisibility
Portability
Accessibility
Recognizability
Durability
Correct answer is C
No explanation has been provided for this answer.
Discounting bills
Banks rate
Granting overdrafts
Acting as lender of last resort
Acting as banker to commercial banks
Correct answer is B
No explanation has been provided for this answer.
When a cheque has special crossing it should be?
cashed by the drawer
cashed over counter
Paid into a named bank
paid to the drawee
paid into Central Bank
Correct answer is C
No explanation has been provided for this answer.