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WAEC Commerce 2005 Question 26

Question 26

Purchase and Sale of Goods

Which of the following is the correct sequence in which the following documents are used?

  1. A.Order, delivery note, debit note, invoice, statement
  2. B.Order, advice note, debit note, invoice, statement
  3. C.Order, statement, delivery note, invoice, debit note
  4. D.Order, delivery note, invoice, debit note, statement.
Show the answer and explanation

Answer: D (Order, delivery note, invoice, debit note, statement.)

Explanation

After the order come the delivery note and invoice, then a debit note to correct any undercharge, and finally the statement.