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

Question 31:

• JAMB 2004

An internal demand for goods to be purchased or drawn from stock is?

A. A quoation
B. A requisition
C. A tender
D. An order

Question 32:

• JAMB 2004

The term 4 net 7 on an invoice means that?

A. 4% surcharge will be made unless payment iss made within seven days
B. 4% discount will be allowed on the price charged only if the goods are bought within seven days
C. 4% discount will be allowed on the price charged only if payment is made after seven days
D. 4% discount will be allowed on the price charge if payment is made within seven days

Question 33:

• JAMB 2005

Which of the following confirms the accuracy of the duty charged on imported goods?

A. An indent
B. Consular invoice
C. Consignment note
D. Shipping note

Question 34:

• JAMB 2006

The documents used in the purchase and sale of goods which contain other terms of trade are?

A. Debit note and credit note
B. Delivery note and advice nopt
C. Invoice and order
D. Quotation and invoice

Question 35:

• JAMB 2007

The abbreviation C and F indicate that the?

A. Production cost excludes the cost of carriage
B. Selling price includes the cost of carriage
C. Cost of production includes dilivery charges
D. Cost price includes the cost of carriage