N4,500
N7,500
N10,500
N12,000
Correct answer is B
A cash discount is a discount allowed to the customer, when he/she makes a cash payment of the goods purchased, within the stipulated time. This means Mr. Bacus will receive a 2% discount from Mr. Awala if payment is made within 10 days of purchase.
We are going to calculate the quantity discount and cash discount respectively.
Selling price = 100
Quantity bought on credit = 1500
Total amount owed = 100 x 1500 = 150,000
3% discount for 1500 units
0.03 x 1500 = 45
Quantity discount = 45 x 100 = 4500
Cash discount of 2/10 net 30
= \(\frac{2}{100}\) x 150,000 = 3000
4500 + 3500 = 7500
The major procedures in the purchase and sale of goods are enquiry
quotation, order and invoice
placement, order and invoice
bargin, order and invoice
order, sale, and invoice
Correct answer is A
No explanation has been provided for this answer.
The balance of payments of countries is
a record of imports and export
a systematic record of transaction among countries at a given time
the current and the capital accounts and their payments
the trade relationships and payment among nations
Correct answer is A
No explanation has been provided for this answer.
A pro-forma invoice is sent to inform a buyer about the
quantity of goods
prices of goods
designation of goods
quality of goods
Correct answer is B
No explanation has been provided for this answer.
The merchant wholesaler is referred to as
del-credere agent
a broker
rack jobber
a factor
Correct answer is A
No explanation has been provided for this answer.