(a) List five Means of payment in Home Trade (b) Explain ways computers could be useful to a Motor vehicle seller

Answer Details

(a) Five means of payment in Home Trade

1. Cash (legal-tender notes and coins)
2. Cheque
3. Bank draft
4. Standing order / direct debit
5. Credit transfer (bank giro) or electronic transfer such as ATM and POS payments

Postal order and money order are also acceptable.

(b) Ways computers could be useful to a motor vehicle seller

1. Stock control: The computer keeps an up-to-date record of the make, model, colour and quantity of vehicles in stock, showing what has been sold and what remains.
2. Record keeping and accounts: It stores customer details, prepares invoices and receipts and keeps the business accounts accurately.
3. Advertising and online sales: The seller can display vehicles on a website or social media, reaching customers far and wide and even selling online.
4. Communication: It sends and receives e-mails and messages to and from customers, suppliers and manufacturers quickly.
5. Price and financing calculations: It quickly computes prices, discounts, hire-purchase and loan repayment schedules for buyers.
6. Storing customer database for after-sales service: It keeps service and warranty records so the seller can remind customers of servicing and follow up sales.