Commerce Paper 2, Nov/Dec. 2014  
Questions: 1 2 3 4 5 6 7 8 Main
General Comments

Question 3
  1. Distinguish between trade discount and cash discount.
  2. Explain four means of payment provided by commercial banks.
  3. State four means of payment used in international trade.


Majority of candidates were able to differentiate cash discount and trade discount.  But they did not do well on part (b) and (c) of the question.  The required responses to the question are:

-           Means of payment by commercial bank are

            -           cash, standing order, credit transfer, bank-draft, etc.

The means of payment on international trade are:

-           bill of exchange, letter of credit, e-payment, etc.

Powered by Sidmach Technologies(Nigeria) Limited .
Copyright © 2015 The West African Examinations Council. All rights reserved.