Neco Model Questions Vol1 2024 Commerce Question 6
Practice essay / theory question 6 from the 2024 Neco Model Questions Vol1 Commerce examination. This question covers Wholesale Trade .
A wholesale trader purchases 800 units of an electronic gadget at a unit price of ₦1,200. The supplier offers a 2% trade discount on the invoice amount and a further 1% cash discount if payment is made within 10 days. During the month, 5% of the units are found to be defective and are returned for a full refund (including all discounts). The trader intends to sell the remaining good units at a markup of 30% on the net cost (after discounts and returns) and incurs fixed overheads of ₦150,000 for the month.
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This is Neco Model Questions Vol1 2024 Commerce Question 6. It is one of the essay questions from the 2024 Neco Model Questions Vol1 Commerce examination.
The question covers Wholesale Trade .
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