Procedure and documentation - Jamb Commerce Past Questions and Answers

Question 6:

• JAMB 2019

Booklets containing a range of products, their uses and prices are called

A. Posters
B. Handbill
C. Catalogues
D. Price Journal

Question 7:

• JAMB 1994

A pro forma invoice is NOT required when

A. Quoting for the supply of goods
B. Goods are sent on approval
C. Dealing regularly with a customer
D. Final prices are uncertain

Question 8:

• JAMB 1997

A close indent is an instrument to an agent to

A. Order goods from a particular manufacturer
B. Order goods from any manufacturer
C. Sell gods to any firm
D. Sell goods to a certain firm

Question 9:

• JAMB 1997

The basic distinction between cash discount and trade discount is that while trade discount is

A. For a period of 30 days, cash discount is for a period of 3 months
B. Given by a wholesaler, cash discount is given by a bank
C. A reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
D. A reduction in the value of sales, cash discount is a reduction in price of goods

Question 10:

• JAMB 1999

The term ‘5 Net 7’ on an invoice means that?

A. 5% discount will be allowed on the price charged if payment is made within seven days
B. 5% discount will be allowed on the price charged if payment is made after seven days
C. 5% surcharge will be made unless payment is made within seven days
D. 5% dicount will be allowed on the charged if the goods are bought within seven days