COMMERCE MCQS | BASIC COMMERCE QUIZ, MULTIPLE CHOICE QUESTIONS (MCQ) TEST WITH ANSWERS
Commerce multiple choice questions (MCQs) and answers test. These commerce quiz are from sale and purchase of goods and services including international trade. Some test questions (MCQ) are also from commerce related accounting and business economics. Link to Commerce MCQs (PDF) is given below. These are the most important and the most repeated commerce questions with answers for test preparation. Answers to the following featured commerce MCQs are given after the second quiz.
FEATURED COMMERCE MCQ
1. A letter of credit is opened (or issued) on behalf of a/an
(C) buying agent
2. Professionals employed by insurance companies or pensions providers to calculate factors such as life expectancy and likely payouts are known as
(C) Chartered Accountant
3. What is the “working capital” if:
cash in hand = 40,000; stock = 20,000; debtors = 15,000; current liabilities = 30,000
ANSWER: COMMERCE MCQ
1. (C) buying agent
2. (A) Actuary
3. (D) 45,000 [40,000+20,000+15,000-30,000=45,000]. See below ↓ for regular commerce questions. Answers to these commerce quiz are given after the fifth MCQ.
1. Which from the following is NOT among essentials of a valid contract?
(A) Consensus ad idem
(B) More than two parties
(C) Lawful consideration
(D) Free consent
2. Raw materials that are remaining at the end of the reporting period are treated as
(A) current assets
(B) fixed assets
3. The selling price of some goods is $1500 and cost to sell the goods is $200. What is the Net Realizable Value (NRV)?
4. Shares of a public company are usually traded on a
(A) central bank
(B) stock exchange
(C) securities & Exchange Commission
(D) hedge fund
5. Selling bonds is a way to
(A) paying debt
(B) improve exchange rate
(C) lend loans
(D) obtain loans
ANSWERS: COMMERCE MCQS
1. (B) More than two parties
2. (A) current assets
3. (C) $1300
4. (B) stock exchange
5. (D) obtain loans Next: Commerce MCQs 6–10
COMMERCE MCQS | MULTIPLE CHOICE QUESTION (MCQ) TEST.
Commerce MCQs (PDF)
Download the Commerce Multiple Choice Questions in PDF from this page.