If a firm grants credit with terms of 3/10,net 30,the customer:
A) must pay a penalty of 3% when payment is made in more than 10 days after the sale.
B) must pay a penalty for 10% when payment is made in more than 3 days after the sale.
C) receives a discount of 3% when payment is made in less than 10 days after the sale.
D) receives a discount of 10% when payment is made in less than 3 days after the sale.
Correct Answer:
Verified
Q4: When credit is offered with only the
Q5: The High-Rise Building Company (HRBC)uses 400,000 tons
Q9: Suppose you purchase goods on terms of
Q10: Accounts receivable include:
I.trade credit;
II.consumer credit;
III.inventories
A)I only
B)II only
C)III
Q11: Which of the following transactions involve credit?
I.COD;
II.2/30,net
Q12: Suppose you purchase goods on terms of
Q13: Firms employ the following types of inventories:
A)raw
Q14: The High-Rise Building Company uses 400,000 tons
Q16: The High-Rise Building Company uses 400,000 tons
Q18: The net credit period for a company
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