Which one of the following defines the terms of sale?
A)Period of time during which a discount can be taken on an invoice
B)Period of time granted to a customer to pay for the goods or services received
C)Legal documents related to the credit sale of either goods or services
D)Conditions under which a firm sells its goods or services for either cash or credit
E)Process used to determine which customers will be granted credit and which will not

Question

Quizplus · Accepted Answer

"Terms of sale" refers to the conditions under which goods or services are sold by a firm, including whether payment is required in cash or credit. Options A, B, and E all reference specific aspects of the credit and payment process, while option C is too narrow in scope.

Which One of the Following Defines the Terms of Sale