When goods are sold to a customer with credit terms of 2/15, n/30, the customer will receive which of the following?

Question

Quizplus · Accepted Answer

The credit terms of 2/15, n/30 mean that the customer receives a 2% discount if they pay within 15 days, and the total amount is due within 30 days. There is no mention of a 15% discount or payment within 2 days, so options A and B are incorrect. Option D is also incorrect since there is no mention of a requirement to pay 15% of the amount due within 30 days. Therefore, the correct option is C.

When Goods Are Sold to a Customer with Credit Terms