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If a seller discovers that he had under charged a buyer, which of the following...

Commerce
WAEC 1991

If a seller discovers that he had under charged a buyer, which of the following documents will use to correct the error?

  • A. A promissory note
  • B. A credit book
  • C. An advice note
  • D. A debit note
  • E. A statement of account
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Correct Answer: Option D
Explanation

A debit note is a document issued by a seller to a buyer notifying them of their current debt obligations.  It is sent to the buyer when there is an increase in the amount payable

When a debit note is issued to a customer, the company is sending a notice to the buyer to pay an additional amount due to an error that may have been committed at the point of charging for the good and service


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts