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

Question 61:

• JAMB 2016

Quantity discount is offerred mainly to persuade the buyer to

A. Defer payment
B. Make prompt purchases
C. Make advance payment
D. Purchase more

Question 62:

• JAMB 2016

The form of credit sales common to low income groups is

A. Hire purchase
B. Club trading
C. Booking -me -down
D. Credit trading

Question 63:

• JAMB 2017

A bill of exchange already accepted can be discounted by the holder in ______?

A. The central bank
B. At least two banks
C. His bank
D. Any bank

Question 64:

• JAMB 2017

The letters E and OE stands for __________?

A. Errors of exception
B. Errors and omissions excepted
C. Estimated and order error
D. End of error

Question 65:

• JAMB 2017

When a buyer has been overcharged for goods supplied, the seller issues a _______?

A. Debit note
B. Proforma invoice
C. Letter of credit
D. Credit note