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Use the information below to answer questions 20 and 21.

Opening stock 4000
Closing stock 12000
Purchases 17000

 

4056

The cost of goods sold is 

  • A. N4,000
  • B. N9,000
  • C. N16,000
  • D. N21,000
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4057

The expected response from the recipient of a quotation is to send

  • A. an advice note
  • B. a cheque for payment
  • C. an invoice
  • D. an order
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4058

The main function of a bureau-de-change is 

  • A. buying and selling foreign currency
  • B. buying and selling securities information
  • C. providing trade information
  • D. selling goods and services
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4059

The right of a seller to make corrections on invoices is expressed by the term

  • A. errors and omissions excepted
  • B. errors omissions excluded
  • C. errors and omissions exempted
  • D. errors and omissions expected
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4060

Speed is an important factor to be considered for the choice of means of transport where goods are

  • A. perishable
  • B. interior
  • C. fragile
  • D. bulky
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