Quiz on Commercial Documents

What type of document is a promissory note?

• Guarantee document

• Credit document

• Identification document

• Transport document

What is the main function of a letter of guarantee?

• Accredit a debt

• Order the payment of a sum of money

• Guarantee the fulfillment of an obligation

• Record a commercial transaction

What is the main function of an invoice?

• Accredit a debt

• Order the payment of a sum of money

• Accredit the sale of goods or services

• Guarantee a loan

What essential element should a check contain?

• Date of issue

• Amount in figures

• Name of the beneficiary

• All of the above

What essential element should a promissory note contain?

• Date of issue

• Amount in figures

• Name of the guarantor

• All of the above

What is the purpose of a bill of lading?

• Transfer ownership of goods

• Guarantee payment for services

• Authorize a loan

• Verify a tax return

What is the main function of a certificate of deposit?

• Secure a mortgage

• Guarantee a loan repayment

• Accredit a debt

• Authorize a stock purchase

What essential element should a promissory note contain?

• Date of issue

• Amount in figures

• Name of the guarantor

• All of the above

What is the main function of a promissory note?

• Guarantee a loan repayment

• Accredit a debt

• Authorize a stock purchase

• Secure a mortgage

What is the purpose of a letter of credit?

• Transfer ownership of goods

• Guarantee payment for services

• Authorize a loan

• Verify a tax return