WAEC Commerce 2021 Theory — Question 4

Model answer

(a) Means of payment in home trade: i. Cash payment. ii. Bank transfer. iii. Issuance of cheque. iv. Promissory note. v. I.O.U. (b) Usage of computer in motor vehicle business: i. Computer can be used to track stock records so as to know when a vehicle arrives. ii. Storage of customers' information. iii. With the aid of computer, he can know the average time a vehicle stays in stock. iv. It can be used to calculate any discount given on the vehicle. v. Computer can be used to place order for vehicles from the manufacturer.