Commerce WAEC

When an importer has been overcharged for goods supplied, the exporter issues him with a?

A. debit note
B. proforma invoice
C. letter of credit
D. credit note

Correct Answer: Option D

D. credit note

Explanation

A credit note is a letter sent by the supplier to the customer notifying the customer that he or she has been credited a certain amount due to an error in the original invoice or other reasons. A credit note is also known as a credit memo, which is short for “credit memorandum.”

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