passwella.
Menu

WAEC Commerce 2014 Question 5

Question 5

Purchase and Sale of Goods

"Net 3 months" on an invoice means the buyer will

  1. A.pay interest after 3 months.
  2. B.get discount if he pays within 3 months.
  3. C.pay full invoice amount after 3 months.
  4. D.have discount if he pays after 3 months.
Show the answer and explanation

Answer: C (pay full invoice amount after 3 months.)

Explanation

'Net' means no discount: the buyer pays the full invoice amount, and he has three months to pay.