How much was the trade discount?
- A. N42.500
- B. N27,500
- C. N22,500
- D. 20,000
Use the information below to answer question 7 and 8.
Ojo purchased the following items from Sani at the specified prices on credit:
200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period.
What was the the amount paid by Ojo?
- A. N382,500
- B. N425,000
- C. N363,375
- D. N61,625
Goods that are manufactured or acquired by the seller after the contract of sale are?
- A. specialty goods
- B. future goods
- C. specific goods
- D. general goods
A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as?
- A. selection
- B. strategy
- C. structure
- D. synergy
The main motive of chambers of commerce and trade association is to?
- A. assist governemnt in achieving its objective
- B. protect the interest of consumers
- C. maximize profit
- D. protect and promote the interests of members
The right of ownership with respect to goods or property is?
- A. right of occupancy
- B. proxy
- C. tittle
- D. certificate of occupancy
An obstacle to international trade is?
- A. trade imbalance between countries
- B. availiability of local market
- C. quantity and quality of labour
- D. cost of finance
An example of a service-rendering trade association is?
- A. Nigeria Bar Association
- B. Association of Nigeria Miners
- C. Cocoa Farmers' Association
- D. Manufacturers' Association of Nigeria