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 company which issues a promissory note in lieu of payment for goods purchased
can refuse to pay ondue date since it is only a promise
is bound to redeem the note for cash on due date
is not bound to renew the note before payment
can return the goods purchase and refuse to pay
Correct answer is B
No explanation has been provided for this answer.
the material should be supplied by Ade
the material should be supplied by both of them
the material should be supplied by Benson
Benson should be ask to reduce his trade discount
Correct answer is A
No explanation has been provided for this answer.
The term ‘5 Net 7’ on an invoice means that?
5% discount will be allowed on the price charged if payment is made within seven days
5% discount will be allowed on the price charged if payment is made after seven days
5% surcharge will be made unless payment is made within seven days
5% dicount will be allowed on the charged if the goods are bought within seven days
Correct answer is A
No explanation has been provided for this answer.
Bill of exchange
Cheque
Money order
A. Promissory note
Correct answer is A
No explanation has been provided for this answer.
Use the document below to answer question
Okon Etim Esin is the?
debtor
creditor
exporter
importer
Correct answer is B
No explanation has been provided for this answer.