◈ Oracle Prep Sign Up Free

O-LevelCommerceBanking7100/12 · Oct/Nov 2018 · Q301 Mark

'A means of payment agreed between the debtor and the creditor used for recurring and variable payments.' Which means of payment is being described?

Abank draft

Bdirect debit

Cdocumentary credit

Dstanding order

✓ Correct answer

B: direct debit

Practise more questions on this topic

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

Sign up free →

About this question

Topic: Banking, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2018 Paper 1 Variant 2, question 30.

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

BankingMay/June 20121m

Which aid to trade would be most useful to a sole trader who lacks capital?

BankingMay/June 20121m

Which method of payment does a current account holder use to make regular payments of varying amounts at the request …

BankingMay/June 201220m

Many people use ATM machines, debit cards and the Internet to conduct their banking.

TransportMay/June 20121m

What is an advantage of using containers for the transport of exported goods by road and sea?

TransportMay/June 20121m

Which function is the responsibility of a port authority?

WarehousingMay/June 20121m

Why should goods stored in a warehouse be removed as soon as possible?

← Browse all past-paper questions