Commerce

A bank may dishonour a cheque if?

A. it is not crossed B. an alteration on the cheque is initiated C. the amount on the cheque is…

5 years ago

Third party insurance covers, damages?

A. to both passengers and the vehicle B. caused by the vehicle insured C. to all parties concerned D. to…

5 years ago

An association of local, independent retailers formed to encourage buying in bulk from manufacturers is known as?

A. voluntary chain B. producer co-operative society C. multiple stores D. departmental store E. hypermarket Correct Answer: Option B -…

5 years ago

The capital that is needed to meet the day-to-day running of a business is the?

A. fixed capital B. reserved capital C. circulating capital D. liquid capital E. capital employed Correct Answer: Option C -…

5 years ago

A person who wants to undertake an insurance policy usually completes?

A. a proposal form B. a promotion form C. an application form D. an agreement form E. a subscription form…

5 years ago

A bank whose name is printed on a cheque leaf is known as the?

A. drawer B. payer C. drawee D. payee E. acceptor Correct Answer: Option C - drawee

5 years ago

A crossed postal order is?

A. generally acceptable for payment B. easily converted to cash C. the same as money order D. cashed through a…

5 years ago

Cash is said to be legal tender because it?

A. can be converted into money order B. can be offered and accepted for payment C. is negotiable D. also…

5 years ago

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

A. capital owned B. working capital C. issued capital D. liquid capital E. reserved capital Correct Answer: Option E -…

5 years ago

The different between an overdraft and loan is that an overdraft?

A. does not yield interest B. is giving to savings account holders only C. yields interest on the customer before…

5 years ago