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WAEC Commerce 1998 Question 19

Question 19

Purchase and Sale of Goods

Credit in business transaction is

  1. A.a form of loan
  2. B.compliment to a good customer
  3. C.provision of service
  4. D.a means of saving money
  5. E.a rebate for large purchases
Show the answer and explanation

Answer: A (a form of loan)

Explanation

Selling on credit is like lending the buyer the value of the goods until he pays.