WAEC Commerce 2014 Theory — Question 40
Question 40 of 50 from the West African Examinations Council (WAEC) Commerce 2014 Theory paper, with the correct answer and a full explanation.
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A system of buying goods by an agent where the supplier is determined by the principal is
- A. tied shop
- B. closed indentCorrect
- C. open indent
- D. ring trading
Explanation
An indent is an instruction to an overseas agent to purchase a product. If the manufacturer/supplier is specified, it is a closed indent.
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