Commerce Revision Test 02

Commerce Revision Test 02

9th - 11th Grade

30 Qs

quiz-placeholder

Similar activities

Financial Accounting

Financial Accounting

9th - 12th Grade

27 Qs

CSEC POA PRACTICE

CSEC POA PRACTICE

11th Grade

25 Qs

Accounting Basics

Accounting Basics

10th Grade

25 Qs

9 EMS - Credit Transactions:  Debtors & General Ledger Revision

9 EMS - Credit Transactions: Debtors & General Ledger Revision

9th - 10th Grade

25 Qs

Accounting Exam 2 Review

Accounting Exam 2 Review

10th - 12th Grade

25 Qs

Cash Flow Management

Cash Flow Management

11th Grade

28 Qs

Business Finance Chapter 5 Quizizz Review

Business Finance Chapter 5 Quizizz Review

10th Grade

27 Qs

Source Documents

Source Documents

9th - 12th Grade

32 Qs

Commerce Revision Test 02

Commerce Revision Test 02

Assessment

Quiz

Business

9th - 11th Grade

Hard

Created by

Tkay Syazfia

Used 8+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

To avoid paying interest, credit card holders should pay for their goods.

at the time of purchase.

before a date given on the monthly statement.

two months after the purchase date.

when their goods arrive.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which statement explains why retailers offer credit to consumers?

to decrease retailers’ costs

to decrease consumers’ incomes

to increase consumers’ debts

to increase retailers’ sales

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which question is most important for a customer considering buying goods on credit?

Are the goods fit for the purpose?

Do the goods represent value for money?

What discount will be given by the retailer?

What is the difference between the cash price and the credit price?

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which statement about credit is not true?

Credit enables buyers to purchase expensive goods.

Impulse buying is encouraged by having credit available to use.

Offering credit to customers is risk-free for retailers.

Spending on credit means borrowing against your future income.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is a disadvantage to the buyer of buying a television on credit?

A credit check will be made by the seller.

Interest may be charged by the seller.

Payment is postponed until a later date.

There is no need to carry a large amount of cash when buying.

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Susan buys a jacket using a credit sales agreement. The cash price is $290. Susan pays $50 deposit and the rest of the debt, on which 10% interest is charged, in 12 equal monthly instalments. What will be the total credit sales price?

$266

$290

$314

$340

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Media Image

Suleiman has received his credit card statement which contains the following information. What is the best way for Suleiman to avoid paying any interest on his credit card?

pay $750 after 21 October

pay $2000 before 21 October

pay $2250 after 21 October

pay $2250 before 21 October

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?