◈ Oracle Prep Sign Up Free

O-LevelCommerceFinance7100/11 · Oct/Nov 2017 · Q331 Mark

What is a bill of exchange?

Adocument used by international travellers to pay hotel bills

Bguarantee of payment to an importer

Cpromise to pay a debt at a fixed date in the future

Dsum of money shown on an invoice

✓ Correct answer

C: promise to pay a debt at a fixed date in the future

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Finance and see which topics are most likely to come up next.

Sign up free →

About this question

Topic: Finance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2017 Paper 1 Variant 1, question 33.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Commerce questions

FinanceMay/June 20111m

A clothing retailer says that her rate of turnover is five. What does this mean?

FinanceMay/June 20121m

How should an overcharge on an invoice be corrected?

FinanceMay/June 20121m

If a child's toy has a cost price of $0.80 and it sells for $1, what is its mark-up?

InsuranceMay/June 20111m

What is an insurance proposal?

BankingMay/June 20111m

The bank credit transfer system allows firms to

BankingMay/June 20111m

A bank will provide finance to an exporter of goods to cover the time between despatch of the goods and receipt of pa…

← Browse all past-paper questions