Business Documents revision quiz

Question 1

A written document that a seller sends to a potential buyer showing the price of the goods & terms of sale is known as:

Accepted Answer

A quotation

Question 2

A reduction of the selling price given for prompt payment is known as a...

Accepted Answer

Trade discount

Question 3

Delivery note

Accepted Answer

Seller

Question 4

A document that the seller sends to a buyer confirming that goods have been paid for is known as:

Accepted Answer

A receipt

Question 5

A request from a buyer to a seller for the price, terms of sale, and queries about stock available is known as:

Accepted Answer

A letter/email of enquiry

Question 6

Invoice

Accepted Answer

Seller

Question 7

Which of the following is NOT a danger of having too much stock?

Accepted Answer

The customer may not be able to purchase the goods they want

Question 8

Which of the following is NOT a reason for sending a credit note?

Accepted Answer

The customer was undercharged

Question 9

Order

Accepted Answer

Buyer

Question 10

Statement of account

Accepted Answer

Seller

Question 11

A bad debt occurs when a debt cannot be recovered

Accepted Answer

True

Question 12

A written document that buyer sends to a seller requesting the supply of the quantity of goods listed is known as:

Accepted Answer

An order

Question 13

Letter/email of enquiry

Accepted Answer

Buyer

Question 14

A document that the seller sends to a buyer to explain a reduction in the amount owed is known as:

Accepted Answer

A credit note

Question 15

A document that the seller sends to a buyer that lists the items being delivered is known as:

Accepted Answer

A delivery note

Question 16

Payment

Accepted Answer

Buyer

Question 17

Quotation

Accepted Answer

Seller

Question 18

A document that the seller sends to a buyer to explain an increase in the amount owed due to an undercharge is known as:

Accepted Answer

A debit note

Question 19

A reduction of the selling price given to business customers is known as a...

Accepted Answer

Trade discount

Question 20

Credit note

Accepted Answer

Seller

Question 21

Receipt

Accepted Answer

Seller

Question 22

Selling on credit means that no payment is made when the goods are delivered

Accepted Answer

True

Question 23

Which of the following documents can you find listed on a statement of account?

Accepted Answer

An invoice

Question 24

When calculating the amount owed on an invoice, trade discount should be subtracted before VAT is added

Accepted Answer

True

Question 25

Debit note

Accepted Answer

Seller

Question 26

A business should contact several different suppliers to ask about the terms of sale, goods and prices available

Accepted Answer

True

Question 27

A document that the seller sends to a buyer to show a summary of transactions over a period of time is known as:

Accepted Answer

A statement of account

Question 28

Carriage paid means that:

Accepted Answer

The seller pays for the delivery of the goods

Question 29

A document that the seller sends to a buyer that gives details of the goods being sent and terms of sale is known as:

Accepted Answer

An invoice

Business Documents revision quiz

Questions 29

Business Documents revision quiz

Questions 29