Purchase and Sale of Goods - Jamb Commerce Past Questions and Answers

Question 46:

• JAMB 2012

A document which serves as an order with details of goods required by an intending purchaser is

A. A freight note
B. An indent
C. A bill of landing
D. A way bill

Question 47:

• JAMB 2012

If a customer pays within nine days of receiving goods and takes advantage of 3% off the invoice price, this is stated as

A. 3/9;net 30
B. 9/27;net 30
C. 30;net 9/3
D. 9/30;net 3

Question 48:

• JAMB 2012

A bill of exchange paid before its due date at an amount less than its face value is said to have been

A. Accepted
B. Rejected
C. Discounted
D. Dishonoured

Question 49:

• JAMB 2014

A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a

A. Statement of account
B. Consular invoice
C. Proforma invoice
D. Statement affairs

Question 50:

• JAMB 2014

In response to an inquiry from a customer, a wholesaler is expected to send back

A. A consignment note
B. An order
C. A qoutation
D. An advice note