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GCE Commerce 1989 Question 80

Question 80

Purchase and Sale of Goods

With regard to payment, the amount payable when no deductions are made is called

  1. A.net price
  2. B.spot cash
  3. C.net profit
  4. D.prompt cash
  5. E.draft
Show the answer and explanation

Answer: A (net price)

Explanation

'Net' terms mean the full price must be paid, with no discount deducted.