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UI Post-UTME Commerce 2025 (Model questions) Question 2

Question 2

Purchase and Sale of Goods

The following documents are used BEFORE a transaction is completed:
I. Quotation
II. Purchase order
III. Proforma invoice
IV. Credit note

  1. A.I and III only
  2. B.II and IV only
  3. C.I, II and III only
  4. D.All of the above
Show the answer and explanation

Answer: C (I, II and III only)

Explanation

Quotations, purchase orders and proforma invoices come before the sale; a credit note is issued afterwards to correct an overcharge or for returns.