(a) State the difference between an ordinary invoice and a proforma invoice.

(b) Explain the following terms used in connection with an invoice:
(i) 5% trade discount
(ii) net 3 months
(iii) E.& O.E.
(iv) carriage forward
(v) 21 % cash discount. 
 

(a) Give four arguments for and three arguments against advertising.

(b) List six advertising media used by business organizations in West Africa. 
 

(a) Assume that you are a retail trader and want to open a current account with a branch of a commercial bank. Write out four steps to be taken in opening the account.

(b) State six services provided by a commercial bank. 
 

Distinguish between the following pairs of terms used in insurance:

(a) Third party and comprehensive policy

(b) Whole life and endowment policy

(c) Insurance and assurance

(d) Premium and compensation. 
 

 Write short notes on each of the following:
(i) Small stores
(ii) Mobile shops
(iii) Tied shops
(iv) Supermarkets
(v) Peddling.