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WAEC Commerce 2014 Question 10

Question 10

Purchase and Sale of Goods

A system of sales, where goods are sold to the highest bidder is known as

  1. A.credit sale.
  2. B.hire purchase.
  3. C.clearance sale.
  4. D.auction sale.
Show the answer and explanation

Answer: D (auction sale.)

Explanation

At an auction, goods go to the highest bidder.