Question on: JAMB Commerce - 2024
Use the information below to answer this question.
Aisha sold her wristwatch to Halima for #2,000.00 and she paid. The sum of #2,000.00 is the
A
entitlement
B
consideration
C
money
D
fees
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Correct Option: B
The sum of #2,000.00 is the consideration in this transaction.* Consideration refers to something of value exchanged between parties in a contract. In this case, Halima provided the money (#2,000.00), and Aisha provided the wristwatch.* Entitlement means the right to have something.* Money is the general term for currency.* Fees are a sum paid for a service.
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