Bece Model Questions Vol1 2021 Business Studies Question 3

Practice practical question 3 from the 2021 Bece Model Questions Vol1 Business Studies examination. This question covers Business Documents, Sales Invoice, VAT .

Bece Model Questions Vol1 2021 Business Studies Practical

Topics: Business Documents Sales Invoice VAT

Question 3 BECE_MODEL_QUESTIONS_VOL1 • 2021 • BUSINESS_STUDIES • practical

A small retail shop sells 15 units of a product called “EcoBottle” to a customer. Each EcoBottle has a unit price of ₦2,500. The shop offers a 10 % discount on the total purchase if the quantity purchased is 10 units or more. After the discount, a value‑added tax (VAT) of 7.5 % is added to the net amount. The customer pays cash.

Question Parts

( a )

Prepare a sales invoice for the transaction described above, showing all required details (shop name, address, date, invoice number, buyer details, description, quantity, unit price, amount, discount, VAT, total payable).

( b )

Calculate the following:

( ) Discount amount.

( ) VAT amount.

( ) Total amount payable by the customer.

( c )

Identify two possible sources of error that could occur when preparing such an invoice and suggest one precaution for each to avoid the error.

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About This Question

This is Bece Model Questions Vol1 2021 Business Studies Question 3. It is one of the practical questions from the 2021 Bece Model Questions Vol1 Business Studies examination.

The question covers Business Documents, Sales Invoice, VAT .

View More Bece Model Questions Vol1 2021 Business Studies Questions More Bece Model Questions Vol1 Practice Questions Back to Questions

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