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O-LevelCommerceFinance7100/11 · Oct/Nov 2016 · Q131 Mark

The diagram shows part of a credit note. How is the document used?

This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.

AThe buyer sends it to the supplier after goods have arrived damaged.
BThe buyer sends it to the supplier's bank to pay for goods supplied.
CThe supplier sends it to the buyer after goods have been returned damaged.
DThe supplier sends it to the buyer's bank to cancel overpayments.

✓ Correct answer

C: The supplier sends it to the buyer after goods have been returned damaged.

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About this question

Topic
Finance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source
O-Level Commerce, Oct/Nov 2016 Paper 1 Variant 1, question 13.

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