Bece Model Questions Vol1 2020 Business Studies Question 3

Practice practical question 3 from the 2020 Bece Model Questions Vol1 Business Studies examination. This question covers Business Documents, Invoice preparation, Discounts and VAT calculations .

Bece Model Questions Vol1 2020 Business Studies Practical

Topics: Business Documents Invoice preparation Discounts and VAT calculations

Question 3 BECE_MODEL_QUESTIONS_VOL1 • 2020 • BUSINESS_STUDIES • practical

GreenLeaf Stores sold the following items on 15 March 2024. Unit prices are shown. The store offers a 5 % discount on the total invoice when the total before discount exceeds ₦20,000. After any discount, VAT at 7.5 % is added. The customer paid with a ₦70,000 note.

Question Parts

( a )

Calculate the total cost of the items before any discount.

( b )

Determine the discount amount (if any), the VAT payable, and the net amount payable after discount and VAT.

( c )

Calculate the change that must be given to the customer and comment on whether the invoice shows all required calculations.

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About This Question

This is Bece Model Questions Vol1 2020 Business Studies Question 3. It is one of the practical questions from the 2020 Bece Model Questions Vol1 Business Studies examination.

The question covers Business Documents, Invoice preparation, Discounts and VAT calculations .

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