Commerce Paper 2, May/June 2011  
Questions: 1 2 3 4 5 6 7 8 9 10 Main
General Comments

question 4

  1. List four means of payment in business
  2. Explain the following:
    Hire purchase
    Deferred payment
    Quantity discount.


Means of payment were not well known by the candidates.  Some answers expected include:

  • Credit Card
  • Vouchers (luncheon, fuel etc)
  • Stamps
  • Bills of Exchange etc.

The part ‘b’ of the question was not also well attempted.

  • Quotation is the statement of current prices of products or services and also a reply to an enquiry.
  • Deferred payment is applicable to credit sales and seller transfers ownership of the goods to the buyer immediately.
  • Quantity discount: It is a reduction in the catalogue price of goods sold. It is given to encourage bulk purchase.


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