WAEC Commerce 2016 Objective — Question 12

Question 12 of 50 from the West African Examinations Council (WAEC) Commerce 2016 Objective paper, with the correct answer and a full explanation.

12. Which of the following abbreviations allows the drawer of a document to correct any error? A. C.I.F B. I.O.U C. C. W.O D. E. & O.E Use the following information relating to Bala Enterprises to answer questions 13 to 15 Premises #32,000; Motor vehicle #15,000; Debtors #15,000; Stock #20,000; Creditors #10,000

A. C.I.F
B. I.O.U
C. C. W.O
D. E. & O.ECorrect

Explanation

When E and O.E is attached to the document, it means errors and omissions exempted. This protects the drawer against any mistakes that may be committed in the document.

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