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Use the information below to answer this question. Aisha sold her wristwatch to Halima for...

Commerce
JAMB 2024

Use the information below to answer this question.
Aisha sold her wristwatch to Halima for #2,000.00 and she paid. The sum of #2,000.00 is the

  • A. entitlement
  • B. consideration
  • C. money
  • D. fees
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Correct Answer: Option B
Explanation

Consideration refers to something of value that is given in exchange for a product, service, or promise. In this case, the # 2,000.00 paid by Halima to Aisha represents the consideration for the purchase of the wristwatch. It is the price or payment that is given by the buyer in exchange for the item being sold.


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