Commerce Practice Tests – Business Capital and Profits (Questions with Answers and Explanations)

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Commerce Practice Tests – Business Capital and Profits (Questions with Answers and Explanations)

Hello and Welcome to Commerce Practice Tests - Business Capital and Profits

  1. You are to attempt 5 random objectives questions ONLY.
  2. Supply Your Full Name and Location in the text box below and begin immediately.
  3. You can attempt as many times as possible
1. 


A major benefit a debtor can derive from using a credit facility is _______

A. goodwill      B. better service     C. control     D. convenience

2. 


Money can simply be referred to as a _______

A. standard of value
B. medium of exchange
C. means for the settlement of debts
D. durable asset for doing business

3. 



What is the working capital as at December 31, 1992?

A. N 65,250    B. N 60, 000    C. N 48,650   D. N 41,950

4. 


The term 4 net 7 on an invoice means that ______

A. 4% discount will be allowed on the price charged if payment is made within seven days
B. 4% discount will be allowed on the price charged if payment is made after seven days.
C. 4% surcharge will be made unless payment is made within seven days
D. 4% discount will be allowed on the price charged only if the goods are bought within seven days.

5. 



What is the owner’s equity?

A. N 200,000    B. N 250,000    C. N 300,000    D. N 420,000

 

 

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