Quiz 1 1st Attempt (11/20)

Question 1

Correct

Mark 1.00 out of 1.00

Flag question

Question text

In the present scenario in business enterprises, there are numbers of receipts and payments involved
related to a single party. These may occur at different points of time. 

Select one:

True 

False

Question 2

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The concept of Average due date (ADD) is generally used in the following situations except:

Select one:

a.
For settling accounts between principle and agent

b.

projecting the annual profit

c.

Making lump sum payment against various bills drawn on different dates with different due dates

d.

Calculating interest on drawings of partners

Feedback

Your answer is correct.

Question 3

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The ______________of the Invoice or Bill of Exchange is the date when the amount of a bill or Invoice is
payable to the drawee or creditor to drawer or debtor. 

Select one:
 a.

due date

b.

end date

c.

maturity date

d.

expiration date

Feedback

Your answer is correct.

Question 4

Correct

Mark 1.00 out of 1.00

Flag question

Question text

First of all calculation of due date if the bill or invoice is payable on a specific date or at a stated number
of months or days after date. 

Select one:

True 

False

Question 5

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

The Average due date is useful to a calculation of _____________ drawings of Partners and Amount lent
in one installments or various installments.

Select one:

a.

interest

b.

yield

c.

profit

d.

discount

Feedback

Your answer is correct.

Question 6

Incorrect

Mark 0.00 out of 1.00

Flag question

Question text

Maturity Date or Equated Due Date is the arithmetic average of several due dates.

Select one:

True 
 False

Question 7

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Suppose A order B to pay ` 500 three months after date and B accepts this order by signing his name,
Bill of exchange
then it will be a Answer .

Question 8

Correct

Mark 1.00 out of 1.00

Flag question

Question text

A date on which an exchange (like deal, buy, advance portion) or bills/promissory notes and so forth falls
due for settlement (for example due for receipt or installment) is known as due date.

Select one:

True 

False

Question 9

Incorrect

Mark 0.00 out of 1.00

 Flag question

Question text

We get due date by including the credit/charge period on the pertinent date + 5 days of elegance if
appropriate.

Select one:

True 

False

Question 10

Correct

Mark 1.00 out of 1.00

Flag question

Question text

If there should be an occurrence of Bills of Exchange and Promissory Notes if the due date falls on a
Public Holiday (according to Negotiable Instruments Act) at that point the due date will be the former
working day.

Select one:

True 

False

Question 11

Incorrect

Mark 0.00 out of 1.00

 Flag question

Question text

If payment is made on average due date, it results in the loss of interest of creditors.

Select one:

True 

False

Question 12

Incorrect

Mark 0.00 out of 1.00

Flag question

Question text

Average due date is the median average of several due dates for payments.

Select one:

True 

False

Question 13

Incorrect

Mark 0.00 out of 1.00

Flag question

Question text
In the calculation of the average due date, only the due date of the first transaction must be taken as
the base date.

Select one:

True 

False

Question 14

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The average due date determines the day on which various amounts can be settled without loss or gain
of interest to either party. If the total sum, however, is not paid on the average due date but on a
subsequent dates, the interest on all the amounts can be easily calculated.

Select one:

True 

False

Question 15

Incorrect

Mark 0.00 out of 1.00

Flag question

Question text
Procedure for calculation of Average Due Date, when lending in installments but repayment in one lump
sum, is as follows except for:

Select one:

a.

Take any convenient date (preferably the first due date) as the Starting Point or Zero Date or Start Date
or Focal Date or Base Date.

b.

Count the number of days of each transaction from the base date.

c.

none of the above

Feedback

Your answer is incorrect.

Question 16

Incorrect

Mark 0.00 out of 1.00

Flag question

Question text

In any case, the due date makes it clear that payment is expected on or before that date. Once the date
has passed, the payment is considered late and is not subject to various consequences.

Select one:

True 

False

Question 17

Incorrect
Mark 0.00 out of 1.00

Flag question

Question text

When it comes to invoicing, it is not that important to put or add due date to encourage quick payment.

Select one:

True 

False

Question 18

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Because an invoice is a legal document included in a sale, adding the due date makes it clear for the
customer. It helps avoid any ambiguity about when the payment is expected and any potential for denial
of knowledge of that topic.

Select one:

True 

False

Question 19

Correct
Mark 1.00 out of 1.00

Flag question

Question text

The penalty for not making a payment on or before a specified due date is generally fee-based.

Select one:

True 

False

Question 20

Incorrect

Mark 0.00 out of 1.00

Flag question

Question text

When a customer does not make the payment in time, the first action to take is to sue him/her.

Select one:

True 

False

Quiz 1 2nd Attempt (20/20)

Question 1

Correct

Mark 1.00 out of 1.00

Flag question

Question text

In the present scenario in business enterprises, there are numbers of receipts and payments involved
related to a single party. These may occur at different points of time. 

Select one:

True 

False

Question 2

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The concept of Average due date (ADD) is generally used in the following situations except:

Select one:

a.

For settling accounts between principle and agent

 b.

projecting the annual profit

c.

Making lump sum payment against various bills drawn on different dates with different due dates

d.

Calculating interest on drawings of partners

Feedback

Your answer is correct.

Question 3

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The ______________of the Invoice or Bill of Exchange is the date when the amount of a bill or Invoice is
payable to the drawee or creditor to drawer or debtor. 

Select one:

a.
due date

b.

end date

c.

maturity date

d.

expiration date

Feedback

Your answer is correct.

Question 4

Correct

Mark 1.00 out of 1.00

Flag question

Question text

First of all calculation of due date if the bill or invoice is payable on a specific date or at a stated number
of months or days after date. 

Select one:

True 

False

Question 5

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

The Average due date is useful to a calculation of _____________ drawings of Partners and Amount lent
in one installments or various installments.

Select one:

a.

discount

b.

profit

c.

interest

d.

yield

Feedback

Your answer is correct.

Question 6

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Maturity Date or Equated Due Date is the arithmetic average of several due dates.

Select one:

True
 False 

Question 7

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Suppose A order B to pay ` 500 three months after date and B accepts this order by signing his name,
Bill of exchange
then it will be a Answer .

Question 8

Correct

Mark 1.00 out of 1.00

Flag question

Question text

A date on which an exchange (like deal, buy, advance portion) or bills/promissory notes and so forth falls
due for settlement (for example due for receipt or installment) is known as due date.

Select one:

True 

False

Question 9

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

We get due date by including the credit/charge period on the pertinent date + 5 days of elegance if
appropriate.

Select one:

True

False 

Question 10

Correct

Mark 1.00 out of 1.00

Flag question

Question text

If there should be an occurrence of Bills of Exchange and Promissory Notes if the due date falls on a
Public Holiday (according to Negotiable Instruments Act) at that point the due date will be the former
working day.

Select one:

True 

False

Question 11

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

If payment is made on average due date, it results in the loss of interest of creditors.

Select one:

True

False 

Question 12

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Average due date is the median average of several due dates for payments.

Select one:

True

False 

Question 13

Correct

Mark 1.00 out of 1.00

Flag question

Question text
In the calculation of the average due date, only the due date of the first transaction must be taken as
the base date.

Select one:

True

False 

Question 14

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The average due date determines the day on which various amounts can be settled without loss or gain
of interest to either party. If the total sum, however, is not paid on the average due date but on a
subsequent dates, the interest on all the amounts can be easily calculated.

Select one:

True 

False

Question 15

Correct

Mark 1.00 out of 1.00

Flag question

Question text
Procedure for calculation of Average Due Date, when lending in installments but repayment in one lump
sum, is as follows except for:

Select one:

a.

Take any convenient date (preferably the first due date) as the Starting Point or Zero Date or Start Date
or Focal Date or Base Date.

b.

Count the number of days of each transaction from the base date.

c.

none of the above

Feedback

Your answer is correct.

Question 16

Correct

Mark 1.00 out of 1.00

Flag question

Question text

In any case, the due date makes it clear that payment is expected on or before that date. Once the date
has passed, the payment is considered late and is not subject to various consequences.

Select one:

True

False 

Question 17

Correct
Mark 1.00 out of 1.00

Flag question

Question text

When it comes to invoicing, it is not that important to put or add due date to encourage quick payment.

Select one:

True

False 

Question 18

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Because an invoice is a legal document included in a sale, adding the due date makes it clear for the
customer. It helps avoid any ambiguity about when the payment is expected and any potential for denial
of knowledge of that topic.

Select one:

True 

False

Question 19

Correct
Mark 1.00 out of 1.00

Flag question

Question text

The penalty for not making a payment on or before a specified due date is generally fee-based.

Select one:

True 

False

Question 20

Correct

Mark 1.00 out of 1.00

Flag question

Question text

When a customer does not make the payment in time, the first action to take is to sue him/her.

Select one:

True

False 

Quiz 2 1st Attempt (8/20)

Question 1

Incorrect

Mark 0.00 out of 2.00

Flag question

Question text

One of the main components of the current account is trade in market.

Select one:

True 

False

Question 2

Incorrect

Mark 0.00 out of 2.00

Flag question

Question text

Dividends, interest and migrants remittances from abroad are examples of:

Select one:

a.

investment income

b.

trade in goods

c.
trade in services

d.

net transfer

Feedback

Your answer is incorrect.

Question 3

Incorrect

Mark 0.00 out of 2.00

Flag question

Question text

The account current doesn't guarantee timely payment of premiums to general agents or insurance
companies as required by the agent’s fiduciary duty.

Select one:

True 

False

Question 4

Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account current ensures opportune installment of expenses to general operators or insurance
agencies as needed by the specialist's guardian obligation.
Select one:

True 

False

Question 5

Correct

Mark 2.00 out of 2.00

Flag question

Question text

In the event that you've fallen behind on your MasterCard or advance installments, your loan specialist
may converse with you about "bringing your record current." 

Select one:

True 

False

Question 6

Correct

Mark 2.00 out of 2.00

Flag question

Question text

Items on the account current include gross premiums, agency commissions, the net payable amount on
the current statement, and payments made or received between each submittal of the accounting.

Select one:
 True 

False

Question 7

Incorrect

Mark 0.00 out of 2.00

Flag question

Question text

Trade in services is also called visible balance.

Select one:

True 

False

Question 8

Incorrect

Mark 0.00 out of 2.00

Flag question

Question text

The account journal is a synopsis explanation of an individual protection specialist's business over a
period.

Select one:

True 

False

Question 9
Incorrect

Mark 0.00 out of 2.00

Flag question

Question text

An account summary lays out the financial components of an insurance agent’s business in detail. The
statement is usually comprehensive in that it specifies premium and claim performance at the individual
policy level. 

Select one:

True 

False

Question 10

Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account current is a synopsis proclamation itemizing the money related execution of an individual
protection specialist's business over a predetermined period.

Select one:

True 

False

Quiz 2 2nd Attempt (18/20)

Question 1

Correct

Mark 2.00 out of 2.00

Flag question

Question text

Items on the account current include gross premiums, agency commissions, the net payable amount on
the current statement, and payments made or received between each submittal of the accounting.

Select one:

True 

False

Question 2

Correct

Mark 2.00 out of 2.00

Flag question

Question text

An account summary lays out the financial components of an insurance agent’s business in detail. The
statement is usually comprehensive in that it specifies premium and claim performance at the individual
policy level. 

Select one:

True

False 

Question 3
Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account current is a synopsis proclamation itemizing the money related execution of an individual
protection specialist's business over a predetermined period.

Select one:

True 

False

Question 4

Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account current ensures opportune installment of expenses to general operators or insurance
agencies as needed by the specialist's guardian obligation.

Select one:

True 

False

Question 5

Correct
Mark 2.00 out of 2.00

Flag question

Question text

The account current doesn't guarantee timely payment of premiums to general agents or insurance
companies as required by the agent’s fiduciary duty.

Select one:

True

False 

Question 6

Incorrect

Mark 0.00 out of 2.00

Flag question

Question text

Dividends, interest and migrants remittances from abroad are examples of:

Select one:

a.

investment income

b.

net transfer

c.

trade in goods

d.
trade in services

Feedback

Your answer is incorrect.

Question 7

Correct

Mark 2.00 out of 2.00

Flag question

Question text

Trade in services is also called visible balance.

Select one:

True

False 

Question 8

Correct

Mark 2.00 out of 2.00

Flag question

Question text

One of the main components of the current account is trade in market.

Select one:

True

False 

Question 9
Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account journal is a synopsis explanation of an individual protection specialist's business over a
period.

Select one:

True

False 

Question 10

Correct

Mark 2.00 out of 2.00

Flag question

Question text

In the event that you've fallen behind on your MasterCard or advance installments, your loan specialist
may converse with you about "bringing your record current." 

Select one:

True 

False

Quiz 2 3rd Attempt (20/20)

Question 1

Correct

Mark 2.00 out of 2.00

Flag question

Question text

Trade in services is also called visible balance.

Select one:

True

False 

Question 2

Correct

Mark 2.00 out of 2.00

Flag question

Question text

An account summary lays out the financial components of an insurance agent’s business in detail. The
statement is usually comprehensive in that it specifies premium and claim performance at the individual
policy level. 

Select one:

True

False 

Question 3

Correct
Mark 2.00 out of 2.00

Flag question

Question text

Dividends, interest and migrants remittances from abroad are examples of:

Select one:

a.

trade in goods

b.

trade in services

c.

investment income

d.

net transfer

Feedback

Your answer is correct.

Question 4

Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account current doesn't guarantee timely payment of premiums to general agents or insurance
companies as required by the agent’s fiduciary duty.

Select one:
 True

False 

Question 5

Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account current is a synopsis proclamation itemizing the money related execution of an individual
protection specialist's business over a predetermined period.

Select one:

True 

False

Question 6

Correct

Mark 2.00 out of 2.00

Flag question

Question text

One of the main components of the current account is trade in market.

Select one:

True

False 

Question 7
Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account current ensures opportune installment of expenses to general operators or insurance
agencies as needed by the specialist's guardian obligation.

Select one:

True 

False

Question 8

Correct

Mark 2.00 out of 2.00

Flag question

Question text

Items on the account current include gross premiums, agency commissions, the net payable amount on
the current statement, and payments made or received between each submittal of the accounting.

Select one:

True 

False

Question 9

Correct
Mark 2.00 out of 2.00

Flag question

Question text

In the event that you've fallen behind on your MasterCard or advance installments, your loan specialist
may converse with you about "bringing your record current." 

Select one:

True 

False

Question 10

Correct

Mark 2.00 out of 2.00

Flag question

Question text

The account journal is a synopsis explanation of an individual protection specialist's business over a
period.

Select one:

True

False