Question 1

(a) State the difference between an ordinary invoice and a proforma invoice.

(b) Explain the following terms used in connection with an invoice:
(i) 5% trade discount
(ii) net 3 months
(iii) E.& O.E.
(iv) carriage forward
(v) 21 % cash discount. 
 

Theory

Question details

Exam body
WAEC
Subject
Commerce
Year
2003
Question no.
#1
Type
Theory

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