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.

416.

A credit note is used to

A.

inform the buyer that he can buy more goods on credit

B.

inform the buyer that his account has been credited

C.

inform the customer about his state of solvency

D.

tell the customer that his account is in red

E.

warn the customer that his debt is over due

Correct answer is B

No explanation has been provided for this answer.

417.

Which of the following is NOT a function of the central bank?

A.

Banker's bank

B.

Government's bank

C.

Lender of last resort

D.

Printing of currency

E.

Servicing of National debt

Correct answer is D

No explanation has been provided for this answer.

418.

A bill of lading is best described as the

A.

certificate of quality of goods

B.

certificate of value for the goods on board

C.

document of title to the goods on board a ship

D.

document showing where the goods are going to

E.

evidence of payment of custom duties

Correct answer is C

No explanation has been provided for this answer.

419.

The excess value of all the assets of a business over the value of its liabilities is called

A.

capital employed

B.

capital owned

C.

circulating capital

D.

loan capital

E.

share capital

Correct answer is B

No explanation has been provided for this answer.

420.

A share ducted “Cum div”, means that the dividend for the current year will be paid to the

A.

buyer of the shares

B.

broker of the shares

C.

jobber of the shares

D.

seller of the shares

E.

stock exchange authority

Correct answer is A

No explanation has been provided for this answer.