passwella.
Menu

WAEC Commerce 1996 Question 73

Question 73

Purchase and Sale of Goods

A statement of account is a

  1. A.summary of goods sold to a customer for a particular item
  2. B.note to inform the customer of an addition to his business transaction
  3. C.standard letter sent to customers who have not settled their bills
  4. D.statement of acceptance of credit facilities to a customer
  5. E.Summary of a customer's transactions over a given period
Show the answer and explanation

Answer: E (Summary of a customer's transactions over a given period)

Explanation

A statement of account summarises a customer's dealings and balance for a period, usually a month.