JAMB Commerce 1997 Question 25

Question 25

Foreign Trade Documents

A close indent is an instruction to an agent to

  1. A.order goods from a particular manufacturer
  2. B.order goods from any manufacturer
  3. C.sell goods to any firm
  4. D.sell goods to a certain firm.
Show the answer and explanation

Answer: A (order goods from a particular manufacturer)

Explanation

A closed (specific) indent names the manufacturer to buy from; an open indent leaves the choice to the agent.