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 shall be granted credit and which shall not

Question

Quizplus · Accepted Answer

The terms of sale refer to the conditions under which a firm sells its goods or services for either cash or credit. This includes details such as payment due date, discounts, returns, and warranties.

Which One of the Following Defines the Terms of Sale